Don’t Forget: Annual Dues are required to be paid by the January meeting. Please click the link above to RENEW.
The Inventors School 2023: Starting with Your Product Idea
2023 INVENTORS SCHOOL - Meeting 1: January 18, 2023
This meeting kicks off another year in which the club will be developing a product throughout the year as a teaching tool for its members.
In 2022, we pursued an end goal of producing product and getting product into retail settings to learn the process.
In 2023, we will be developing a new product with an end goal of licensing it to an OEM.
Our Inventors School will have several primary areas of focus throughout the year.
Selection of a product that has the ability for Intellectual Property protection
Create and apply for patent protection to learn the aspects of the patent process using a real-life example.
Vetting of products. This year we will assist members in how to conduct thorough vetting and analysis in determining if an invention warrants the investment and effort. And to educate members on the importance and value of heeding unbiased feedback on their invention.
The Licensing Process. Understanding how to license, who to approach, content of licensing, requirements, pitching and securing a license agreement.
Meeting Agenda:
RECAP OF 2022 our Learn2Catch product.
REMOTE GUEST SPEAKER:
Warren Tuttle, one of the country’s premiere subject matter experts in licensing, will be providing an assessment of the licensing opportunity surrounding the Learn2 Catch product.
IN-PERSON GUEST SPEAKER:
Fred Sklenar, Inventors Network member, Owner-Abstrategy Design, downtown Saint Paul; Industrial Designer; Mechanical Engineer and Professor of Design kicks off 2023 by presenting his knowledge and experience in the following topic areas to assist our members with their invention plans:
- Researching whether your product has a legitimate opportunity to succeed, and methods to assess and the criteria to evaluate and decide.
- Setting a DEVELOPMENT budget and milestones. Decide what to spend and most importantly, decide what criteria you will use to determine to stop or move forward.
- The Many Steps in making prototypes to “prove your concept” What level of quality and representation needs to be built into the prototype for each type, and why. What do you need to get prototypes made? Will you need to make multiple rounds of prototypes? What testing is needed? How final/representative does the prototype need to be? Do you need professionally created graphics and packaging?
- Bench Testing & Lifecycle Testing
- DFMEA (Design Failure Mode Effects Analysis)
- Packaging-up a Bid Package (Bill of Materials; Contacting vendors, etc).
- User Feedback
- Investor Feedback
- Listing all the variables for taking a product to market
- Deciding what to do next: Licensing vs developing a business
JOIN US Wednesday, JAN 18TH:
TIME: 6:00PM-8:00PM (Networking 5:30-6:00 and 8:00-8:30)
WHERE: 1001 HWY 7, Eisenhower Community Center (Just West of HWY 169), Hopkins MN 55305
COST: Guests ($15.00) / Members FREE ($80.00 Annual Membership). Pay at Check-In with Cash/Credit Card
In our January meeting, we will touch on 3 key things:
Review of Last year and Presentation of this year’s programming.
Review of last year’s product by Warren Tuttle.
Planning and Development by Fred Sklenar
Don’t forget Annual Dues are due prior to this meeting so please renew online if you can. (This will save time at the greeter’s desk at our meeting)