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Jan

Low Cost Prototypes by Carrie Jeske

The $5 Proof-of-Concept Inventor Mockup

Prototypes don’t have to be expensive. When inventing new products for TV, you can secure a licensing agreement with a $5 Prototype.

I read an interesting article, written by Edmond John Dougherty, Director of Engineering Entrepreneurship at Villanova University and an Assistant Professor in the Electrical and Computer Engineering Department who is teaching students how this is possible. He says “you can “‘MacGyver’ a prototype for your invention and get funding.”

I agree. It’s possible to get a term sheet and licensing agreement on early stage prototypes, but in the last two years, it’s getting harder. There are many finished goods that manufactures can choose from so you have to have a well made prototype and strong marketing pitch.

Proof-of-principle Prototypes instantly increase the value of your idea

If you really understand your idea, it is possible for anyone to build a demonstration prototype at a very low cost. Low cost does not mean low quality. It is important that the prototype look as high quality as you can make it. After All, you’re asking investors to put $5,000, $10,000 or $30,000 into the concept to test the market viability so how well you communicate the value of the item is critical to securing funding.

There are some companies and distribution channels that won’t fund early stage concepts or license I.P. before the product has been tested for market viability. If your invention happens to be geared toward an industry where this is true, you may have to go the provisional or utility patent route. Even for TV items, there is a time and place for I.P. protection. I just don’t believe that’s it’s before obtaining a confidential review, when all you need is a well-made, $5 prototype. Waste not. Want not.

If you want or need to invest more, there are 3D printers and product development companies that offer reasonable services. If you need some good recommendations for some trusted providers, send me a note on LinkedIn.

Once you have the prototype ready to go, review the blog “Demo Videos That Sell”.

You could have the next great As Seen on TV winner and I can’t wait to review and give feedback on your product submission.

Onward & Upward,

Submit Your Product for review.

Onward & Upward,

Carrie Jeske

Watch and SUBSCRIBE to Carrie Jeske YouTube Channel.

Positive Comments Appreciated.

Tagged: carrie jeske, idea, invent, invention, inventive ideas, low cost prototype, prototype, prototyping
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