Advancing Michigans Economy Through Inventors and Innovators MICH

Advancing Michigan’s Economy Through Inventors and Innovators “MICH Invent” By Helping Local Michigan Inventor Groups Help Garage and Basement Inventors A co-learning plan to advance Michigan Inventors Lead Author Co-Author Contributor - John D. Hopkins - Katherine Teasdale-Hopkins - Ronald Betzig - David Fedewa - Jon Shackelford - Dale Moretz

This is a project for and by the Michigan Inventors Coalition-MIC Helping Michigan Inventor groups help inventors • The inventor groups of Michigan are:

What communities have access ◄▬ to Inventor groups today What is MIC’s role for these groups communication between groups Sharing knowledge & speakers for meetings Sharing expertise within the groups, between the groups Helping new groups start in new areas of the state Developing a resource database for each group to access Improving communications between inventor groups & economic development groups state wide Improving the credibility of Michigan Inventors & Inventor Groups Provide credible learning for inventors from idea concept to entrepreneurs with the “Invent Michigan” program Help advance Michigan thru the local inventor groups helping Michigan Inventors get ideas to market

Invent Michigan Program What is done at this point Ø Survey & interview Michigan Inventors • • We surveyed 11 inventors & have completed 6 interviews so far Discovered interesting similarities & differences Ø Looking @ three processes from idea, to entrepreneur, to market, inventors could use to determine if the product is worth pursuing & to help get their product to market. • • • Idea to buyer – don’t start a business from this product A hobby idea to a business start up The serial inventor – making a living as an inventor Modules of experts in the subject, training presentations for each of the steps in the above processes This is designed for the local groups to use to help their members succeed The module presentations are taken from speaker presentations @ local group meetings Ø Database for the inventor groups to help inventors make contact with support resources. • • This is a work in progress, in constant change & development These are Michigan companies & organizations that help or can help inventors

Michigan Inventors Surveyed • • • Orville Crain, Muskegon, MI Tom Grace, Jackson, MI David Fedewa, Okemos, MI Dale Moretz, Jackson, MI Deborah Tacoma, Holland, MI John Hopkins, Rives Junction, MI Hannah Lowenthal, E. Lansing, MI Marty Sovis, Flushing, MI Rodger Cunningham, Grass Lake, MI Gyhandi Hill, Ann Arbor, MI

Michigan Inventors Interviewed • • Orville Crain, Muskegon, MI Tom Grace, Jackson, MI Michael Suman, Grand Rapids, MI Deborah Tacoma, Holland, MI Dale Moretz, Jackson, MI David Fedewa, Okemos, MI John Hopkins, Rives Junction, MI

Conclusions What did these Michigan Inventors reveal What we expected to find • Common traits in interviewed & surveyed inventors • Uncommon traits in interviewed & surveyed inventors What we found different from our preconceived expectations Are inventors different from other people ? Can any of the traits be learned?

The Idea to Licensing Process I. Research I. Online I. III. IV. II. Google Images Google Shopping Google Patents In Store I. II. Go to locations to find the companies in the same market Is there products like it and who is the competition Market I. Build marketing/ advertising I. II. III. Protect I. Get as far along as you can without a patent attorney and bring them in when you have done as much as you can Protect using a Provisional Patent Application (PPA) II. IV. Sell I. Video Sell Sheet Pitch to companies that fit in the market of your product Finish and start over with a new product

The Hobby Inventor. Ideas that come from your life and go to market I. III. IV. V. Identify the problem- you see a problem or something that doesn’t work The Idea-to solve the problem or just a moment of inspiration The solution- the eureka moment The ask- does it exist, is it a good or bad idea, should I keep going with it The search- again does it already exist, has it been patented i. ii. Patentability- this is you looking Market search- this is what Google is for VI. Design it- drawings, CAD, VII. Prototype- you need to make one VIII. Test it- does it work IX. Patent it- protect your idea X. Market Study- will it sell & for how much XI. Sell the manufacturing rights or- start a new idea XII. Become an entrepreneur- start a business XIII. Business plan- write it plan for the future XIV. Marketing plan- how are you going to get it to the market XV. Manufacturing- you have to find one or make it your self XVI. Sales plan- how are you going to sell it.

The Serial Inventor: This is serious now were talking full time inventor making money from ideas or consulting The serial trail 1. see a problem or need that is not presently met, or that needs an improved solution 2. conceive of a solution - or multiple solutions 3. Perform an initial market study to determine if there is a demand for this product/process, and to 4. estimate the value of the solution IN THE EYES OF THE MARKET. 4. check to see if your solution(s) is/are really new 5. make preliminary FTO assessment 6. Estimate approximate cost of solution or solutions. This will require a preliminary design. If more than one solution, focus on least expensive, so long as utility is not compromised. 7. Make an estimation of cost/benefit - will the market be willing to pay for this solution? 8. check patentability - make a preliminary patent search

The Serial Inventor: Continued 9. design it (engineering drawings) 10. make a prototype 11. Test performance of the product or process to confirm its viability 12. FTO (Freedom to Operate) assessment 13. file patent and confirm you have no conflict or impediment to your marketing your product. 14. find a manufacturer or determine if you will manufacture the product 15. finish market study & business plan 16. complete market study with actual preproduction product for additional market tests This should include determination whether to market under a "brand name" and application for any needed trademarks.

So How it Works

Modules expert training for steps in process