Invention Challenge

Retailers, Manufacturers and Corporations
Sponsor an Invention Challenge contest and solve the “Innovation Dilemma”


 

What is it? – Invention Challenge is an exciting new consumer-driven invention contest that assists retailers, manufacturers and corporations in identifying, qualifying and sorting new innovations. The broad format allows novices and professional inventors the opportunity to compete for cash prizes and the chance to have their invention produced and sold in the retail market. 

Invention Challenge is a regional or national web based contest that allows users to create their own account and submit their ideas online. Consumers can also vote online for the new product ideas as part of the selection process. All participants will have the opportunity to earn coupons and special offers for contributing to the new product search. 

Turnkey Solution: The Invention Challenge team fills the void between individual inventors and corporate sponsors to simplify the innovation procurement process. Our veteran team handles the entire event from start to finish. We facilitate our proprietary consumer-centered invention contest to meet your innovation search criteria. Our multi-disciplinary team works seamlessly with your project managers to execute the big event to get the results that you require. The Invention Challenge Innovation Team will:

Manage the campaign from start to finish

Act as the sanctioning body and clearing house for all invention submissions

Locate and qualify as many new proprietary inventions as needed

Set up and manage a judging panel of industry experts

Facilitate advertising and PR campaigns in conjunction with your ad agencies

Handle all web based infrastructure and redundancy

Manage, sort and transfer all participant data to the sponsor’s database team

Handle all email communications with contestants, judges and consumers regarding the contest

Assist with licensing negotiations and inventor relations

Assist in facilitating patent analysis and opinions

Assist in prototyping and global sourcing   


Additional benefits for Sponsors of the Invention Challenge:


Great Publicity - Sponsors of the Invention Challenge contest will earn positive publicity and a reputation as a supporter of innovation. Consumer based communications can include many of the following depending on the budget:

Online

TV Production – Dedicated show or awareness campaigns

Radio and Print

Product Review Traveling Road Shows

Onsite events at the sponsor’s offices and/or retail locations


Differentiation from the competition - By having exclusive technologies and products, sponsors will differentiate themselves from their competition.

Anonymous product searches - Invention Challenge can search for new products and qualify inventions without disclosing our sponsors by name

Increased access to new innovations without defocusing the sponsor’s staff – Invention Challenge makes it easy for our sponsors by conducting searches, qualifying the inventor/invention, sorting and refining the products.

Outsourced product development work – Invention Challenge can research, qualify, analyze and refine ideas prior to submitting them to sponsors.

Ensures an added layer of legal protection – Since Invention Challenge is independent from our sponsors, we help shelter them from legal hassles associated with new inventions. We will handle all communications and contracts with the inventors.

Gain Access to industry experts – Invention Challenge’s market knowledge will be extremely valuable to sponsors in an innovation sourcing and product development capacity. Our seasoned team has dealt with major retailers and corporations for 20+ years and, therefore have the experience to integrate new innovations smoothly.

Timing: Invention Challenges can vary in length and breadth of scope based on your needs. The recommended time frame for an Invention Challenge is 4-6 months.

Who are we?
– Invention Challenge was developed by Innovation Village, an innovation sourcing, product development and creative process consulting firm. For more information, please visit us at www.innovationvillage.com

If you are interested in learning more about our revolutionary innovation sourcing programs, please email us at launch@innovationvillage.com or call Michael Reece at 704-737-1444