From: "Tom Faloon"
Subject: Re: Where to punt Novelty Electronic Device? (UK)
Date: Fri, 4 Oct 2002 18:10:24 +0100
NNTP-Posting-Date: Fri, 4 Oct 2002 17:06:26 +0000 (UTC)
X-Newsreader: Microsoft Outlook Express 5.00.2615.200
Did you see the Tomorrow's World 'inventors' finals a couple of weeks ago?
I can't remember the name of the program, but you should find info on the TW
There was a millionaire guy on there who finances stuff like this, he said
he looks at hundreds of ideas every year, and finances just a few. (Some at
a cost of millions!) I didn't get his name, but you could try talking to the
folks at Tomorrows World.
Of course you need some of your questions answered before talking to him.
Get financial savvy! Maybe try contacting Trevor Bayliss, he knows the ropes
on these issues! I'm sure you will find lots of inventors on the web. Might
even be a newsgroup ?
Don't be put off by people telling you to wise up. As engineers, we are our
own worst enemies, we enjoy our work too much to see the world as others see
it. Give me a challenge, and let me loose with it, and I will find
solutions, minimise cost, make it easy to manufacture, and all the rest.
Ideas flow, happy as a pig in ****.
But ask me to estimate the market, or convince someone to finance it !!!
Take the clockwork radio. A lot of people, including myself, sniggered down
the sleeve, or thought it was a wind up :-) but Trevor Bayliss turned it
into a reality. It's helping third world countries, selling in the shops
here too, and presumably making him some money.
In last year's Tomorrows World final, there was a guy who had spent several
years, and lots of money getting to a prototype palm of the hand, ultrasonic
cleaner for contact lenses. Most engineers could have got to the same stage
in days, or maybe weeks, but not years. But no one did, because most
engineers probably said 'must have been done long ago', or 'bit late now,
because many people are using disposable lenses'. Anyway, he won the
competition, and Boots said they were interested in developing it into a
product. I didn't hear the outcome.
Another guy on TM had a blow up car jack. Shove a bag under the car, plug a
little pump into the cigarette lighter, and watch your wheel rise off the
road. No need to lie on the road, in your best suite, to find the jacking
point, or scratch the nail varnish. I would have dismissed it on safety
grounds, but he has spent time & money getting there. Maybe it won't go
anywhere, but I bet he will be a millionaire before me!
Tomorrows World showed a bloke taking his idea to the millionaire venture
capitalist I spoke of earlier. The product was a T Shirt, with a scrolling
LED display. The message is programmable. I thought it would go nowhere. The
technology has been around for years, been tried before e.t.c. But no, they
showed development, and negotiations e.t.c. The inventor got an undisclosed
cut, the investor risked a lot of money, turned it into a commercial
product. It will be in the shops before Christmas.
So Go for it Keith! You can only loose, but you will learn something, and
probably go back for more.