Download Advancing Michigan`s Economy Through Inventors and Innovators

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
Co-Author
Contributor
Contributor
Contributor
Contributor
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John D. Hopkins
Katherine Teasdale-Hopkins
Ronald Betzig
David Fedewa
Jon Shackelford
Dale Moretz
This is a project for and by the
Michigan Inventors Coalition-MIC
Helping Michigan Inventor groups help inventors
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The inventor groups of Michigan are:
What communities have access
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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 Program
What is done at this point
 Survey & interview Michigan Inventors
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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.
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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.
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This is a work in progress, in constant change & development
These are Michigan companies & organizations that help or can help inventors
Michigan Inventors Surveyed
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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
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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
Conclusions
What 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.
II.
III.
IV.
II.
Google
Google Images
Google Shopping
Google Patents
In Store
I.
III.
II.
Go to locations to find the companies in the same market
Is there products like it and who is the competition
Market
I.
Build marketing/ advertising
I.
II.
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 can
Protect using a Provisional Patent Application (PPA)
II.
IV.
Sell
I.
V.
Video
Sell Sheet
Pitch to companies that fit in the market of your product
Finish and start over with a new product
The Hobby InventorIdeas that come from your life and go to market
I.
II.
III.
IV.
V.
Identify the problem- you see a problem or something that doesn’t work
The Idea-to solve the problem or just a moment of inspiration
The solution- the eureka moment
The ask- does it exist, is it a good or bad idea, should I keep going with it
The search- again does it already exist, has it been patented
i.
ii.
Patentability- this is you looking
Market search- this is what Google is for
VI. Design it- drawings, CAD,
VII. Prototype- you need to make one
VIII. Test it- does it work
IX. Patent it- protect your idea
X. Market Study- will it sell & for how much
XI. Sell the manufacturing rights or- start a new idea
XII. Become an entrepreneur- start a business
XIII. Business plan- write it plan for the future
XIV. Marketing plan- how are you going to get it to the market
XV. Manufacturing- you have to find one or make it your self
XVI. 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
solution
2.conceive of a solution - or multiple solutions
3. 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 new
5. 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 prototype
11. Test performance of the product or process to confirm its viability
12. FTO (Freedom to Operate) assessment
13. 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 product
15. finish market study & business plan
16. 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