Inventors HQ Methodology - 4 Stages of Development
Inventors HQ, after over a decade of working with Inventors and industry have finely tuned a commercialisation methodology that takes you through 4 unique development stages:
- Qualifying Assessment & Start Plan - the starting point for all inventions where we assess whether or not the invention or concept has sufficient substance and potential to warrant investment of more resources and to create a development plan.
Create - Here we search, build and protect your invention product. We search for similar products and patents, develop the idea to a ‘proven’ prototype stage before we turn your concept into a product ready for production.
- Prepare - At this point your invention has become a product however it still needs the connection to the market which is provided by developing packaging, marketing collateral such as websites, promotional material, branding, content, instructions where relevant. We also review the business model and funds required to commercialise your invention product and create the strategy for the final stage launch. Finally in this stage we review options for IP protection and through a third party Patent Attorney we ensure the appropriate protection has been applied.
Launch - Activate the launch plan and take a finished product to market
Additional Commercialisation Services
Some businesses engage Inventors HQ for specialist services and we offer:
- Commercialisation Consulting
- 3D Product Design, Engineering & Drafting
- 3D Printing
- Manufacturing services
- R&D applications, record keeping & R&D projects
- Technical writing (applications, funding documents, plans, strategies, web, packaging and marketing collateral content)
Scroll down for more detail for each stage of Inventors HQ methodology.
Inventors HQ Methodology in more detail
1. Qualifying Assessment and Start Plan
The starting point for all inventions is here. We call this the Qualifying Assessment where we assess the idea or concept against the Inventors HQ ‘High Commercialisation Potential’ criteria to determine if the invention has sufficient potential to warrant further investment of resources. The criteria we have developed and update as we gain experience includes over 85 questions and we work through this methodically to provide you with our findings.
Deliverables at this stage:
- An assessment of your invention using our own criteria for selecting high potential inventions/products (typically 7 to 10 working days after commencement)
- A 2 page Qualifying Assessment Report with a rating (Red light is up to 50%, Amber light is 50-74% and 75% or above is a green light, this is used as an indication of substance and progress with the invention).
- An Itemised list of non-qualifying criteria
- Recommended actions for each of the non-qualifying criteria
- A summary of high priority activities required to progress your invention
- A starting point plan of recommended next steps (up to 10 steps)
- Telephone assessment feedback and product development consultation
- A half hour product development strategy meeting following the assessment
On completion of the Qualifying Assessment we will discuss with you the next appropriate step to progress your invention. The Stage 1 Qualifying Assessment Fee is $990 plus GST. When the QA report is provided you will also receive a monthly product development and project management fee quotation which reflects the hours required for your project. We can design our work schedule to suit your budget however our minimum monthly commencement fee to proceed is $1500 + GST per month. The length of the project depends on many things and is estimated in the assessment report. Sometimes circumstances change and we are flexible to this such that you may wish to pause your project at the end of any month and we accommodate this with 1 months advanced notice to allow us to reschedule work. The above fees do not include third party expenses which will be quoted for your decision prior to commencing any third party work for example Patent Attorney searches, industrial design, drafting or prototype building services.
If you are ready and excited to start your project why not take action now? Our on-line Confidentiality Agreement and Qualifying Assessment Application form are available from CONTACT US or TAKE ACTION.
In this stage we concentrate on creating the finished product by developing the invention concept to a ‘proof of concept’ stage first and then experimenting, prototyping and modifying until all of the engineering, manufacturing and consumer issues have been resolved and your invention becomes a product that can be manufactured and is ready for consumers.
Typical activities (some of the activity listed) include:
- Preliminary discussions on your invention’s novelty (in the patenting sense) with our Patent Attorney
- Discussions on the type of legal protection that may be appropriate
- Design input and modification to improve commercial potential and engineering aspects
- Competing or similar product searches and desktop market research
- Initial enquiries for government funding programs (if relevant)
- International patent searching and freedom to market assessment reports (by Patent Attorney at 3rd party cost)
- Prototyping, experimenting and modifying your concept
- 3D design and drafting to produce drawings that can be used for assessment by manufacturers
- 3D printing
- Design & drawing for patent applications as well as supplier sourcing (by 3rd party at an additional cost)
In this stage we concentrate on developing the idea into a product that is designed and ready for manufacture, including packaging to the point that manufacturers have been found and mass manufacturing arranged. In addition to IP protection strategy and action, marketing collateral such as websites, promotional material, branding, content, instructions where relevant. We also review the business model and funds required to commercialise your invention product and create the strategy for the final stage launch.
Typical activities (some not all) include:
- Production prototyping
- Selecting materials and manufacturing method
- Produce Manufacturing drawings and prepare production specification
- Appropriate type of patent or protection (e.g. Trademarks) registered or provisional patent application prepared and lodged if necessary to gain priority date (by our third party Patent Attorney)
- Market research or consumer research if necessary (In-house or by a third party supplier)
- Creating content for marketing collateral, website, packaging and promotional material
- Creating the business model and setting up the business structure
- Creating the branding
- Company establishment, company administration (if a dedicated company is required or this may have been completed earlier)
- Researched target suppliers and potential retailers
- Finalise tooling and create tooling if necessary for mass production
- Source product component suppliers and arrange quotes
- Design the packaging and source suppliers
- Technical writing for a range of needs including instructions, content for packaging and promotional material
- Locate and introduce potential distributors
- Locate and introduce manufacturers and other preferred suppliers
- Conduct preliminary sales discussions
- Finalise the product pricing and promotion
- Define the paths to market
- Developing the launch strategy
On completion of this stage it is expected the invention is proven or otherwise to have sufficient potential and intellectual property protection to proceed. If commercialisation funding is required outside of your own financial resources and you wish to engage Inventors HQ to raise funding for your project we are happy to discuss this with you to scope out the project and provide a quotation for this work. We recommend you to seek independent financial advise before making a decision to invest your resources in any commercialisation project and actively encourage you to pursue this advice.
Activate the launch plan and "Go to market with a finished product”.
Typical activities and deliverables include:
- Activate and work on the launch plan which includes marketing, sales and promotional planned activities
- Finalise agreements with distributors and arrange orders
- Establish the operational and logistic systems for product delivery to market
- Launch company on-line presence and facilities if required
- Explore and implement public relations and marketing options
- Explore and implement advertising options
- commence sales of your product through the agreed sales channels and manage the promotional activities