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

Jan 05, 2016

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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- John D. Hopkins Co-Author- Katherine Teasdale-Hopkins - PowerPoint PPT Presentation
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Page 1: Lead Author-  John D. Hopkins          Co-Author-   Katherine Teasdale-Hopkins

Advancing Michigan’s Economy Through Inventors and Innovators

“MICH Invent” By Helping Local Michigan Inventor Groups

Help Garage and Basement InventorsA co-learning plan to advance Michigan Inventors

Lead Author - John D. Hopkins

Co-Author - Katherine Teasdale-Hopkins

Contributor - Ronald Betzig

Contributor - David Fedewa

Contributor - Jon Shackelford

Contributor - Dale Moretz

Page 2: Lead Author-  John D. Hopkins          Co-Author-   Katherine Teasdale-Hopkins

This is a project for and by theMichigan Inventors Coalition-MIC

Helping Michigan Inventor groups help inventors

• The inventor groups of Michigan are:

Page 3: Lead Author-  John D. Hopkins          Co-Author-   Katherine Teasdale-Hopkins

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

◄▬

Page 4: Lead Author-  John D. Hopkins          Co-Author-   Katherine Teasdale-Hopkins

Invent Michigan ProgramWhat is done at this point

Survey & interview Michigan Inventors• We surveyed 11 inventors & have completed 6 interviews so far• Discovered interesting similarities & differences

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 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

Page 5: Lead Author-  John D. Hopkins          Co-Author-   Katherine Teasdale-Hopkins

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

Page 6: Lead Author-  John D. Hopkins          Co-Author-   Katherine Teasdale-Hopkins

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

Page 7: Lead Author-  John D. Hopkins          Co-Author-   Katherine Teasdale-Hopkins

ConclusionsWhat 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?

Page 8: Lead Author-  John D. Hopkins          Co-Author-   Katherine Teasdale-Hopkins

The Idea to Licensing Process

I. Research I. Online

I. Google II. Google ImagesIII. Google ShoppingIV. Google Patents

II. In StoreI. Go to locations to find the companies in the same market

III. Is there products like it and who is the competitionII. Market

I. Build marketing/ advertising I. Video II. Sell Sheet

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 canII. Protect using a Provisional Patent Application (PPA)

IV. SellI. Pitch to companies that fit in the market of your product

V. Finish and start over with a new product

Page 9: Lead Author-  John D. Hopkins          Co-Author-   Katherine Teasdale-Hopkins

The Hobby Inventor- Ideas that come from your life and go to market

I. Identify the problem- you see a problem or something that doesn’t workII. The Idea-to solve the problem or just a moment of inspirationIII. The solution- the eureka momentIV. The ask- does it exist, is it a good or bad idea, should I keep going with itV. The search- again does it already exist, has it been patented

i. Patentability- this is you lookingii. Market search- this is what Google is for

VI. Design it- drawings, CAD, VII. Prototype- you need to make oneVIII. Test it- does it workIX. Patent it- protect your ideaX. Market Study- will it sell & for how muchXI. Sell the manufacturing rights or- start a new ideaXII. Become an entrepreneur- start a businessXIII. Business plan- write it plan for the futureXIV.Marketing plan- how are you going to get it to the marketXV. Manufacturing- you have to find one or make it your selfXVI.Sales plan- how are you going to sell it.

Page 10: Lead Author-  John D. Hopkins          Co-Author-   Katherine Teasdale-Hopkins

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

solution2.conceive of a solution - or multiple solutions3. 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 new5. 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

Page 11: Lead Author-  John D. Hopkins          Co-Author-   Katherine Teasdale-Hopkins

The Serial Inventor: Continued

9. design it (engineering drawings)10. make a prototype11. Test performance of the product or process to confirm its viability12. FTO (Freedom to Operate) assessment13. 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 product15. finish market study & business plan16. 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. 

Page 12: Lead Author-  John D. Hopkins          Co-Author-   Katherine Teasdale-Hopkins

So How it Works

Page 13: Lead Author-  John D. Hopkins          Co-Author-   Katherine Teasdale-Hopkins

Modules expert training for steps in process