Open innovation is sweeping the nation and the globe. Companies have finally realized they don’t have a monopoly on intelligence! They’ve opened their doors and they’re looking around. I love the development – when I began inventing some thirty years ago, the mentality was “If it wasn’t invented here, we’re not interested.” That’s changed. Companies have realized although they do employ a lot of great designers, they can build an even stronger team by reaching outside. For example, in the last few years, Proctor and Gamble has brought over one hundred products to market through open innovation.
Many companies post what they’re looking for in terms of new products right on their website, but I stress a lot of caution in using these forums. Although they may seem warm and fuzzy, there is no substitution for making an actual contact within in the company! I’ve never had any success using a portal. I have a feeling a lot of them may simply have the option to submit products on their websites to keep people happy and satisfied. If you really want to be able to follow up on your product and what’s happening, make the call! Latch on to open innovation.
Stephen Key is a successful award-winning inventor who has licensed
over 20 products in the past 30 years. Along with business partner
Andrew Krauss, Stephen runs inventRight,
a company dedicated to educating inventors about selling their ideas
and the skills needed to succeed. You can listen to the weekly radio show on inventing. Get In The News, list your invention to have media outlets find you for news stories.