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Showing posts with the label incubators

Marketplace of Ideas-Encouraging Inventors to Work Together

Bringing inventors into the development of new products and services can have a large impact on the economic success of an area. A paper by Dr. Waleed Khan Afridi delves into a method commercializing inventions through associated pools in a way that protects the parties involved as well as gives the best opportunity for eventual manufacturing. He argues that small inventors should support each other in the development of products and share some of the financial benefits of the process. Even though businesses and employees generate a number of new products or services many of them do not make their way into the market. The biggest barrier is the cost of development related to the e valuation of marketability, patentability, and technical feasibility. Even those who traverse the many steps to putting their product on the market are not guaranteed success making the risks versus reward difficult.  When new product ideas are created they can be sent to a pool where they are