lead author- john d. hopkins co-author- katherine teasdale-hopkins
DESCRIPTION
Advancing Michigan’s Economy Through Inventors and Innovators “ MICH Invent ” By Helping Local Michigan Inventor Groups Help Garage and Basement Inventors A co-learning plan to advance Michigan Inventors. Lead Author- John D. Hopkins Co-Author- Katherine Teasdale-Hopkins - PowerPoint PPT PresentationTRANSCRIPT
Advancing Michigan’s Economy Through Inventors and Innovators
“MICH Invent” By Helping Local Michigan Inventor Groups
Help Garage and Basement InventorsA co-learning plan to advance Michigan Inventors
Lead Author - John D. Hopkins
Co-Author - Katherine Teasdale-Hopkins
Contributor - Ronald Betzig
Contributor - David Fedewa
Contributor - Jon Shackelford
Contributor - Dale Moretz
This is a project for and by theMichigan Inventors Coalition-MIC
Helping Michigan Inventor groups help inventors
• The inventor groups of Michigan are:
What communities have access
to Inventor groups today
What is MIC’s role for these groups communication between groups Sharing knowledge & speakers for meetings Sharing expertise within the groups, between the groups Helping new groups start in new areas of the state Developing a resource database for each group to
access Improving communications between inventor groups &
economic development groups state wide Improving the credibility of Michigan Inventors & Inventor
Groups Provide credible learning for inventors from idea concept
to entrepreneurs with the “Invent Michigan” program Help advance Michigan thru the local inventor groups
helping Michigan Inventors get ideas to market
◄▬
Invent Michigan ProgramWhat is done at this point
Survey & interview Michigan Inventors• We surveyed 11 inventors & have completed 6 interviews so far• Discovered interesting similarities & differences
Looking @ three processes from idea, to entrepreneur, to market, inventors could use to determine if the product
is worth pursuing & to help get their product to market.• Idea to buyer – don’t start a business from this product• A hobby idea to a business start up• The serial inventor – making a living as an inventor• Modules of experts in the subject, training presentations for each of the steps in
the above processes• This is designed for the local groups to use to help their members succeed• The module presentations are taken from speaker presentations @ local group
meetings Database for the inventor groups to help inventors make contact with
support resources.• This is a work in progress, in constant change & development• These are Michigan companies & organizations that help or can help inventors
Michigan Inventors Surveyed
• Orville Crain, Muskegon, MI• Tom Grace, Jackson, MI• David Fedewa, Okemos, MI• Dale Moretz, Jackson, MI• Deborah Tacoma, Holland, MI• John Hopkins, Rives Junction, MI• Hannah Lowenthal, E. Lansing, MI• Marty Sovis, Flushing, MI• Rodger Cunningham, Grass Lake, MI• Gyhandi Hill, Ann Arbor, MI
Michigan Inventors Interviewed
• Orville Crain, Muskegon, MI
• Tom Grace, Jackson, MI
• Michael Suman, Grand Rapids, MI
• Deborah Tacoma, Holland, MI
• Dale Moretz, Jackson, MI
• David Fedewa, Okemos, MI
• John Hopkins, Rives Junction, MI
ConclusionsWhat did these Michigan Inventors reveal
What we expected to find• Common traits in interviewed & surveyed inventors• Uncommon traits in interviewed & surveyed inventors
What we found different from our preconceived expectations
Are inventors different from other people ? Can any of the traits be learned?
The Idea to Licensing Process
I. Research I. Online
I. Google II. Google ImagesIII. Google ShoppingIV. Google Patents
II. In StoreI. Go to locations to find the companies in the same market
III. Is there products like it and who is the competitionII. Market
I. Build marketing/ advertising I. Video II. Sell Sheet
III. Protect I. Get as far along as you can without a patent attorney and bring them in when you have
done as much as you canII. Protect using a Provisional Patent Application (PPA)
IV. SellI. Pitch to companies that fit in the market of your product
V. Finish and start over with a new product
The Hobby Inventor- Ideas that come from your life and go to market
I. Identify the problem- you see a problem or something that doesn’t workII. The Idea-to solve the problem or just a moment of inspirationIII. The solution- the eureka momentIV. The ask- does it exist, is it a good or bad idea, should I keep going with itV. The search- again does it already exist, has it been patented
i. Patentability- this is you lookingii. Market search- this is what Google is for
VI. Design it- drawings, CAD, VII. Prototype- you need to make oneVIII. Test it- does it workIX. Patent it- protect your ideaX. Market Study- will it sell & for how muchXI. Sell the manufacturing rights or- start a new ideaXII. Become an entrepreneur- start a businessXIII. Business plan- write it plan for the futureXIV.Marketing plan- how are you going to get it to the marketXV. Manufacturing- you have to find one or make it your selfXVI.Sales plan- how are you going to sell it.
The Serial Inventor: This is serious now were talking
full time inventor making money from ideas or consulting
The serial trail 1.see a problem or need that is not presently met, or that needs an improved
solution2.conceive of a solution - or multiple solutions3. Perform an initial market study to determine if there is a demand for this
product/process, and to 4. estimate the value of the solution IN THE EYES OF THE MARKET.
4. check to see if your solution(s) is/are really new5. make preliminary FTO assessment 6. Estimate approximate cost of solution or solutions. This will require a
preliminary design. If more than one solution, focus on least expensive, so long as utility is not compromised.
7. Make an estimation of cost/benefit - will the market be willing to pay for this solution?
8. check patentability - make a preliminary patent search
The Serial Inventor: Continued
9. design it (engineering drawings)10. make a prototype11. Test performance of the product or process to confirm its viability12. FTO (Freedom to Operate) assessment13. file patent and confirm you have no conflict or impediment to your
marketing your product.14. find a manufacturer or determine if you will manufacture the product15. finish market study & business plan16. complete market study with actual preproduction product for additional
market tests This should include determination whether to market under a "brand name"
and application for any needed trademarks.
So How it Works
Modules expert training for steps in process