The Innovation Marketplace is designed to connect innovations and inventions by Texas entrepreneurs and businesses with potential investors, distributors and manufacturers. Think of it as an online, web-based “matchmaker” marketplace where inventors, patent holders, and intellectual property owners can post ideas in search of partners, buyers, and licensees, but with one big exception. Before inventions are listed, the registry provides in-person or online workshops to help inventors recast their often-technical prose in jargon-free descriptions for the business and industrial customers shopping at the site.
Only eight days after its launch, the site received over a half-million inquiries from people who had gone on site and either looked at innovations or posted requests for innovations.
Among the thousands of inventions listed on the Innovation Marketplace for sale or licensing to manufacturers are an Edible Ice Cream Stick, Rock Rebar™, Santa Seal™ and a PVC/Vinyl Fence Lighting System.
According to a recent Wall Street Journal article, “A Best Buy spokeswoman says the company hopes to tap the innovation registry for products that it could sell in its stores, or for technology that could make its business processes more efficient.”
Vice President Joe Biden and U.S. Commerce Secretary Gary Locke announced that the initiative would help revitalize supply chains and equip manufacturers to use emerging technology and find new market opportunities.
The USA National Innovation Marketplace is a service of the National Institute of Standards & Technology Manufacturing Extension Partnership of which TMAC is a partner. In the DFW Metroplex, TMAC has an alliance with the University of Texas – Arlington (UTA).
The Innovation Marketplace was created by Doug Hall and his Eureka! Ranch consulting team. Eureka! Ranch helps businesses innovate successfully and swiftly. Doug is the author of four best selling books and hosted or starred on a wide range of network radio and television shows.
The new web site service is free to manufacturers. TMAC and the Innovation Marketplace charge $2,000 for listing ideas or inventions.
One key benefit is that the tool includes a “60-second business credibility” where an inventor’s ideas are taken much more seriously because it comes with an independent research report and sales forecast that can be understood in 60 seconds.
Buyer’s benefit because the tool provides a smarter, faster, and cheaper innovation development. The tool allows a company access to a virtual innovation department that can be as much as three times more successful than their own research and development.
Individual inventors or businesses have the opportunity to have their products evaluated for their viability and translated into an understandable and marketable language.
This cutting-edge, 21st century tool can help create and accelerate profitable growth opportunities for existing companies, inventors, researchers, investors, and entrepreneurs. Opportunities exist for Texas inventors to more easily connect with Texas manufacturers, distributors and investors.
A free 60-minute demonstration of how to use the Innovation Marketplace will be held at 9am on Wednesday, August 5, 2009 at UTA’s ARRI, 7300 Jack Newell Blvd. South, Fort Worth, TX 76118.
For more information on the new web site, contact TMAC . To read more about the National Innovation Marketplace program, click here: http://www.planeteureka.org/marketplace/.