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BIG Microbusiness Hunt
Company Background
Big Idea Group (BIG) uses open source networks to help leading organizations and entrepreneurs in the process of insight discovery, innovation generation and innovation execution. BIG’s online communities deliver consumer insights and critical feedback, uncovering opportunities for innovation. In addition, the company takes consumer insights and frames them as calls for innovation to its 13,000-member problem-solving and creative network. BIG then organizes, winnows, polishes and presents those innovations to clients to feed new products, services and brand development. BIG can also help launch innovations, drawing on its network of experts to bring new products and services to market efficiently and successfully.
BIG, founded in 2000, is partially owned by WPP, one of the world’s largest communications service groups.
Summary
Big Idea Group is searching for inventions that could become the basis of a profitable microbusiness. BIG plans to form a venture to bring the best invention (or inventions) to market. The winning inventor(s) will receive not only a royalty on products sold, but also an equity stake in the new business that we form to launch the invention. Multiple inventions might be selected.
Innovations in the categories of hardware, lawn and garden, pets, housewares, and sporting goods are welcome.Inventions must fill a true consumer need, be easily understandable to consumers, address a large target market, require limited development time and funds, and offer good longevity and extendability. In addition, we’ll favor inventions that have been taken beyond the concept stage, with inventors having done some market research, design, engineering, testing, etc.
Deadline for this Hunt is March 31, 2010, however submissions will be reviewed every one to two months. This is a rare opportunity for inventors to receive both a royalty and a piece of the business bringing their invention to market.