BrainBuzz

LIVE WEBINAR: Technology for a Better World - The Power of Design Thinking

2011-04-28T22:06:00.000-07:00

Hosted by Youth Venture in partnership with Engineering for Change

Date: Monday, May 2, 2011
Time: 6:00PM-7:30PM EST

Whether you have new ideas on how to use technology to advance social change or you're well on your way to implementing your own venture, this webinar can help. During this live webinar, you will:

Discover the principles of design thinking to better serve your target community
Apply design thinking to your Venture
Learn how Engineering for Change can benefit your Venture
Become inspired by other teams across the country

Hosted in partnership with Engineering for Change, a community of engineers, technologists, and social scientists who are committed to improving quality of life through appropriate technology solutions, you'll walk away with practical and usable techniques to use right away.

And if you're thinking about submitting an entry for the Technology for a Better World campaign, this webinar will help you improve your proposal and answer any questions you may have. To learn more about the campaign, visit www.genvcampaigns.org.

REGISTER TODAY! E-mail Melissa Miller at mmiller@youthventure.org with your name, school, team, and preferred e-mail address to RSVP.

Technology for a Better World

2011-04-24T20:57:00.000-07:00

Young Inventors International is pleased to be a network partner in Technology for a Better World, an opportunity for fifty teams of young innovators age 13-18 to develop and implement solutions for positive social change.

Ashoka’s Youth Venture and the Best Buy Children’s Foundation are looking for up to fifty teams to support through a combination of advisory services, seed funding, fundraising tools, webinars, and networking opportunities. Plus, the top five teams will win exciting grand prizes – trips to Washington D.C. to further develop their ventures at Youth Venture’s headquarters and to be recognized at the Jefferson Awards, meeting prominent politicians and sharing their stories with the media.

Apply by May 9, 2011 in order to be considered for the opportunity to join Youth Venture’s community of more than 4,000 “ventures” – sustainable initiatives, organizations, clubs, or businesses that benefit our community or planet.

BrainBuzz Overview

2009-04-08T19:24:00.000-07:00

The second part of the YII Conference was the BrainBuzz™ on Saturday, where we brainstormed solutions to five technology challenges. The technology challenge case studies were:

1. A passive solar tracking system, submitted for the BrainBuzz™ by Eden Full of Dynamic Photovoltaics. Eden's submission came to us from Ashoka's Changemakers program. Eden is a high school student from Calgary.

2. The Keepon robot from BeatBots, presented by Marek Michalowski, the company's co-founder and doctoral student in the Robotics Institute at Carnegie Mellon University.

3. XoutTB, a device that encourages compliance to the course of treatment for tuberculosis. The technology is in development by the Innovations in International Health (IIH) Group at MIT and was presented by Jose Gomez-Marquez.

4. A solar autoclave for sterilizing medical instruments in the field developed by a group of students from Dayton University in Ohio who run Salud del Sol.

5. GlucoVend, a self-service patient kiosk for checking glucose levels, also from the IIH at MIT.

Take a glimpse at the sessions:

Here is what one of our facilitators and had to say about the event:
"I had a terrific experience at the 5th Inventing the Future Conference. The variety of activities and opportunities to collaborate with other participants far exceeded my expectations. I especially enjoyed the high-energy BrainBuzz event and have already made plans to employ this activity in my organization." - Evan Anderson, Director of Prototyping Services, WidgetWorks

And some words from the participants:
"I love the BrainBuzz...fun, interactive, get to meet other people, etc."
"Stimulating, challenging, fun, fast-paced"
"Fun, cool, new, interesting"
"I loved the ideas people had!"
"Reflective, moving, fun"
"Teamwork, exciting, new ideas"

YII Conference Summary

2009-04-07T11:15:00.001-07:00

YII's 5th Inventing the Future Conference took place on Friday and Saturday, and we had a sold out conference with more than 120 participants over the two days.

Here are what some of the participants had to say about the event:
"It was great to see how easily people interacted and offered help to one another"
"Motivational"
"Thought provoking"
"Informative, inspiring, fun"
"Great chance to meet people!"
"Eye-opening, inspirational"
"I would use the knowledge from the conference on my path toward entrepreneurship"

Regis McKenna, visiting us from Silicon Valley, opened the Conference, speaking about the importance of learning by doing and getting your technology to the market rapidly, not underestimating your competition, and the role of upstarts in disrupting existing technologies. He also offered some thoughts on Apple 1 and Apple 2, where the second time around, Steve Jobs applied what he had learned from his many years as an entrepreneur. Below, Regis McKenna offers his thoughts about young innovators and entrepreneurs.

After the opening keynote, we broke out into smaller groups for the Commercialization Marathon, where we had 25 experts speak about topics of intellectual property, market research and development, raising financing, business planning, and industrial design and prototyping. You can see very brief excerpts of two sessions below - Randy Eager of Innovation Works talking about building a business and Bob Oltmanns of Skutski & Oltmanns talking about market research and strategy.

After pizza, we had a number of students pitch their ventures and talk about the resources they needed to build their ventures. We finished the evening with an inspiring and informative young entrepreneur panel, moderated by Aaron Tainter of Meakem Becker Venture Capital and featuring Lynsie Camuso of Showclix, Luke Skurman of College Prowler, and Nick Pinkston of GearHeadz. Below, is a video of me closing the Conference with Aaron, Lynsie, Luke, and Nick behind me.

Celebrating Women Innovators

2009-03-24T09:27:00.000-07:00

March 24th is Ada Lovelace Day, celebrating women in technology. Ada Lovelace was the first computer programmer (in the 1800's!). As part of my pledge to celebrate Ada Lovelace Day, I committed to writing a blog post about an inspiring woman in technology.

After thinking about the post all day and procrastinating because I could not decide on just one person, I decided that I will celebrate the day by writing about The Anita Borg Institute for Women and Technology because I think that it is a great resource for inspiring women innovators any day of the year. I am particularly inspired by Dr. Borg's aim to bring non-technical women into the design process since having a diversity of experience, even on technical projects, can often be very valuable in generating innovations and improvements.

Crowdsourcing and technology transfer offices

2009-02-12T23:58:00.000-08:00

Win a scholarship for your social venture

2009-02-04T12:49:00.001-08:00

Invent Your World is an international campaign sponsored by the Lemelson Foundation and Ashoka GenV to support young inventors in creating social change. Youth wishing to use new or adapted technology to address global challenges are encouraged to launch a "social venture" and implement their invention. Ashoka GenV will provide mentorship and seed funding to 50 new ventures. In addition, Lemelson and Ashoka will choose the best teams and offer additional support, including a visit to MIT to take part in a global roundtable discussion and $20,000 in scholarships.

Visit www.inventyourworld.org to learn more and enter an invention idea!

YII Member in WIRED Competition

2008-12-19T12:33:00.000-08:00

Check out the WIRED Small Biz Program site. Erik Groset is a familiar face - he's a YII member who invented a cool iPod speaker. Erik's Grandfather, John P. Groset, invented the ice cream cone machine. Clearly, innovation runs deep in Erik's blood, along with a passion for inventions that brighten the day (ice cream and music...).

Crowdsourcing Innovation

2008-11-21T10:39:00.001-08:00

Check out Anne's article at Xconomy on crowdsourcing in innovation:

Sourcing the Right Crowd

YII Celebrates Global Entrepreneurship Week

2008-11-13T13:49:00.001-08:00

Celebrate Global Entrepreneurship Week with us!

Monday, September 17th
Check out an interview with YII founder, Anne Swift, conducted by Eric Quon-Lee of the Rotman New Ventures Group.

Wednesday, September 19th, 4 PM - 5 PM EST
Setting up a new company to commercialize your invention
Jay Shepherd, Founder of LaunchPad Law
To log in, click here
Access Code: 9013103

All week
The first student each day of the week (after 12 AM) to register for a new YII subscription will receive a complimentary annual Premium subscription.

We'd love to hear how you will celebrate Global Entrepreneurship Week.

Join YII at InventBay's International Invention Expo

2008-10-03T16:01:00.000-07:00

Join YII in Las Vegas on October 18th and 19th, 2008 for InventBay's International Inventor's Expo. Set up a booth to showcase your invention to the media, customers, and investors and learn from experts how to make your venture a success.

How to conduct market research

2008-07-21T10:35:00.000-07:00

Young Inventors has asked experts for their advice for innovators and first-time student entrepreneurs. Scott Gingold of Powerfeedback offers his tips for conducting market research:

You have a brilliant idea for a new product or service. All it takes is funding and you can produce this product, it will sell and then you are off to Tahiti with your fortune!

In many cases, the result is not so positive. For example, consider the case of the NeXT Computer introduced in 1988 by Steve Jobs. The machine was a marvel in offering the first CD-ROM drive and multimedia capabilities. However, it could not run standard applications, as a result, software vendors hesitated to rewrite their code for the NeXT machine. The unfortunate outcome was the demise of this machine.

What can we learn from this case? Technical wizardry is not enough to ensure success of an innovation. Buyers have their distinct evaluative criteria. Your new product will succeed, or not, according to how it fares when evaluated by potential buyers. As the NeXT machine lacked useful applications, buyers passed on it and purchased Windows based machines to run Excel, Word, etc. The awesome technology of the NeXT machine was not enough to compensate for the aforementioned deficiency.

The Role of Marketing Research

Marketing research is not a substitute for creativity, technical training or inspiration. What marketing research offers is a set of techniques which, when properly used, can supply information about the industry, competitors and consumers. This information is an aid to effective decision making and acts as a means to reduce the risk involved in developing and marketing new products.

Marketing Research Methods Useful for the Aspiring Entrepreneur

There are hundreds of marketing research techniques which range from focus groups to sophisticated multivariate statistical methods. The objective of this piece is to offer suggestions for cost effective research which can be performed by a non-specialist and yield information for sound decision making.

Here are two sources for data, which has already been collected (Secondary data):

National Trade and Professional Associations (2008), 43rd ed., ISBN 978-1-880873-56-4

The United States Bureau of Census

Trade associations collect data and conduct studies to serve the interests of their members. Much of this information is available at no cost to nonmembers. In addition, the staff members of these organizations can offer guidance about other resources such as industry experts and trade publications. Several years ago, a client had developed an improved design for the common warehouse pallet. His design was a higher priced alternative to wooden pallets. How could he determine the size of his market? He turned to a trade association of pallet manufacturers for detailed data to answer his question.

Another source to consider is the U.S. Census Bureau. On their site it is possible to access information on the demographics (age, sex, race, income, etc.) of the U.S. population. A basic and critical issue for creators of new toys is how many children of a specific age range or gender who live in the U.S. The Census Bureau data can be used as a means of estimating total market size.

Lessons Learned

Always start your marketing research efforts with a thorough search for secondary data. Initially, try using major search engines such as Google and Dogpile. It is well worth it to make an appointment with the Business Librarian at a good local college library. Librarians are experts in ferreting out relevant sources which can be invaluable. However, they need your input regarding the nature of your product and the major issues you face.

Good luck!

Scott Gingold is a pioneer in the realm of online research, and stands as a noted business-consulting expert. His company, Powerfeedback, offers full-service market research services including qualitative and quantitative capabilities. In addition to market research, Scott Gingold regularly provides his consulting acumen to companies of all sizes throughout the Country. Prior to forming his own company, he spent 20+ years in the highly competitive transportation industry holding senior management positions and specialized in turning red ink into black ink. Visit Scott's Tumblr site.

Making Your Small Business Look Big

2008-07-14T15:09:00.000-07:00

Young Inventors has asked experts for their advice for innovators and first-time student entrepreneurs. The first post is by Janet Holian, President of VistaPrint Europe:

As a small business, your budget is tight and your time is even tighter. But you still have to compete with larger organizations that have big budgets and even bigger staff. Let’s face it image is everything and if you can’t look big, prospective customers will go elsewhere.

How can you make your small business look big without breaking the bank? Start with these five time and budget friendly ideas. In no time you’ll be competing head-to-head with the larger organizations in your market.

1. Powerful Logo – the logo of your company is often the first thing that someone sees. It doesn’t have to be expensive, but don’t take it for granted. It should communicate the values of your company – strong, dedicated, customer focused, etc – and be on all of your marketing materials

2. Business Cards - Don’t underestimate the power of the business card. It’s often the first thing someone sees when you meet them for the first time and they are you when you aren’t there. Make sure your business cards are high-quality, full-color and make an immediate impact. Distribute them freely to ensure that your name gets out there often. Give a stack of cards to colleagues who will pass them along to potential customers.

3. Professional Materials—Produce high-quality, professional materials for all of your branding and marketing initiatives. All of your collateral materials - business cards, letterhead, brochures, note cards, post cards, giveaways and even return address labels - should all match and make a strong impression. And don’t forget note cards for hand written thank you notes. Because prospects and customers like to review information from home, clear and easy-to-read brochures with product or service information are important. Skip photo-copied fliers on colored paper and shoot for full color glossy materials. Hand them out when you meet with clients or prospects at shows and conferences.

4. Reinforce Your Brand With Great Giveaways—Stay in front of your customers every day. Look for cost-effective options that have staying power. If it makes sense for your business, items like calendar magnets with seasonal professional sports calendars are a great way to ensure your customers will place your business and contact information in a frequently viewed location like the refrigerator or file cabinet. Also consider holiday cards and holiday promotional giveaways with your name and messaging.

5. High Impact, High Frequency Mailings—Promotional mailings are one of the most cost-effective ways to keep you top of mind with your customers. Look for high-impact, full-color postcards that inform customers of your latest successes or upcoming sales. The frequency of the communication is almost as important as what you say. Mail your customer base twice a month for the best response. If you can segment your database, send smaller print runs of mailings to targeted audiences. You’d be surprised how appropriate mailings can impact the bottom line.

No matter your budget, these simple tips will enable you to look professional and will keep your company’s name in front of your customers.

Janet Holian is President of VistaPrint Europe, the small business marketing company. For more ideas on making your small business look professional, visit www.vistaprint.com.

YII Members in WIPO Magazine

2008-06-29T16:13:00.000-07:00

An overview of some of YII's members and our World Intellectual Property Day events appear in the June issue of the World Intellectual Property Organization's Magazine.

Chats with intellectual property lawyers

2008-04-27T10:29:00.000-07:00

In celebration of World Intellectual Property Day, YII held office hours in its chatrooms with intellectual patent attorneys. Below are two excerpts from each of the office hours. To read the full transcripts, visit the YII community. We also chatted about the first steps to take to protect your idea, when to apply for intellectual property protection, how to deal with trade secrets, and what to have ready for your first meeting with a patent lawyer.

From Suvashis Bhattacharya, Thelen Reid:

Q: Is there such a thing as a "worldwide" patent?
A: Patents are country or region based, so there is no worldwide patent. If the inventor is interested in pursuing patent protection outside their own country, it is important to identify which countries have a potential market for selling or manufacturing the product. It is also important to identify the countries where there may be competitors, joint venture partners and/or potential licensees. Upon identifying these countries, you will have a good idea where to obtain protection. One note: foreign patents are expensive, so choosing wisely which countries to pursue is important.

From Ebad Rahman, Bereskin & Parr:

Q: If you need to speak to someone (for example, a supplier) about your invention, how can you do so before you get the patent?
A: You should always try to disclose something only after a non disclosure agreement has been signed. The non disclosure agreement provides that the party receiving the information (i.e. the supplier) will not disclose the information to anyone - except as specified in the agreement.

Podcast: Winning Business Plan Competitions

2008-03-21T16:53:00.000-07:00

Last week, YII hosted our first free podcast. Check out how David Grampa's start-up won $75K in Case Western University's business plan competition.

Universities as entrepreneurship ecosystems

2008-02-25T19:04:00.000-08:00

I recently became an Xconomist and wrote an article about universities as ecosystems for fostering entrepreneurship. I'd love to hear your thoughts, feedback, or experiences as university/college innovators.

YII member story - "How I went from idea to patent pending"

2008-02-19T11:09:00.000-08:00

Read how Erik Groset, a student at California State University San Marcos, Co-Founder of D&G Solutions, and inventor of LiveSpeakR.

The invention process is quite possibly the biggest adventure on which one can embark. It requires a large amount of ambition, even though shows like CNBC’s “The Big Idea” with Donnie Deutsch might make the process seem easy. As an inventor, however, I can assure you that the process is very arduous –and yet also quite rewarding!

I recently submitted my first patent, but this was certainly not my first “big” idea. In fact, it’s not even what I consider my best one. The patent was for the invention that I strategically determined would help get me to where I want to be to achieve my future goals.

As a fellow student, I want to share with you the first steps that I took in my very rewarding journey.

Step 1: Think

Think HARD about your potential invention. Question everything. Everything! Weigh the benefits against the negatives. Try to poke holes in your own logic. For example: Why wouldn’t this invention work? What could possibly go wrong? What are costs associated with the invention? What is the value a consumer would gain from my invention? Is it worth pursuing this invention and all the costs and time associated with it? It’s very important to think through your invention before pursuing it. This step can save you a lot of time and many headaches. You’ll know you’ve asked enough questions when you have little or no doubt about proceeding with your invention, while also recognizing potential limitations.

Step 2: Do Your Homework

Research, in every way you know how. The internet is a VERY small step in the research process. Think: Library, databases, observations, trade shows, etc. You should research similar inventions, related industries, marketing materials, essentially anything that could possibly be helpful in your understanding of your consumers and your competitors. Be very detail-oriented here; keep meticulous files on all of your research. Research is your most important step because it will show you whether your invention has potential to become a marketable product. Sometimes you might find that the invention has been done already and that’s fine – back to the drawing board!

Here are some of the resources I found most helpful for invention research on the Internet Google Patent Search , USPTO, Google, LexisNexis, Emerald Fulltext, Factiva (some might require subscriptions, but you might have access to them through your school’s library).

Step 3: Internal Feedback

What do you really feel about your idea? Are there better ideas out there? Should you maybe save this idea for later? Don’t just think your thoughts – write them down and analyze them.

Depending on what you’re inventing, timing might be everything. This is why you must be very strategic in how you approach developing your invention. Apple Co-Found Steve Jobs created NEXT an advanced computing company that was ahead of its time. Because its computers were so advanced they were too expensive to become popular. Needless to say the business failed and was eventually abandoned. The stage of the technology in the industry and its adoption is one reason for why the timing needs to be very strategic in your invention process. There are ways to objectively realize that some inventions are better than others. For an exercise in this, you could analyze a group of inventions yourself and determine the level of importance for each one.

Take a deep analytical look at the industry. Some things to consider during this stage might be market share, advancement opportunities in the field. Now reflect and prepare to get some external criticism.

Step 4: External Feedback

Ask a few select TRUSTED people what they think of your idea. Use your own judgment here – sometimes your own mother might not be the right person to ask. It is VERY important that you get external feedback. Obviously, you would ask everyone with whom you share your invention to sign a non-disclosure agreement (NDA), which would legally protect your invention. You should also document people with whom you talk about the invention, including the name of the person, the date, the time, and what was discussed. This way you can reference in case something unfortunate happens. Ultimately, you get to decide with whom to tell about your idea; just be sure to exercise caution.

Step 5: Reflect

Be realistic: Is the process really worth it? Are you really ready to dedicate money, time, blood, sweat, and tears into this project? Think about it again.

Hopefully, you’ll find my experience helpful in your own journey to inventing! Currently I’m going through the next stage on my product (LiveSpeakR) and I will keep you updated on my progress and how it can apply to you.

Good luck!

YII member inspires with his video

2008-01-21T11:51:00.000-08:00

One of YII's members, Adan Vielma, a student at Lewis & Clark College, is the winner of a scholarship from the Task Force on the Future of American Innovation for his video depicting the impact of federal R&D investments. Congratulations to Aidan!

Check out the video below and get inspired to create the next breakthrough innovation (and, while you're at it, check out the site for U.S. Federal grants; many entrepreneurs benefit from the Small Business Research and Innovation Grants, in particular).

USPTO Changes

2007-10-09T19:21:00.000-07:00

The USPTO is undergoing many changes.

Here is an article by Suvashis Bhattacharya, an IP attorney with Thelen Reid Brown Raysman & Steiner about new rules affecting all inventors as of November 1, 2007:

U.S. Patent and Trademark Office Publishes New Rules on Continuation and Claiming Practice.

If you're thinking of filing a patent, you should pay attention to the changes in allowable claims.
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(For those of you that are wondering, claims specify what you want the patent to contain. Check out the USPTO web site for a description of how to file a patent and an overview of the elements of the application.)

Secrets to Entrepreneurial Success

2007-09-23T21:28:00.000-07:00

On October 1st, join YII for a webinar with Barbara Carey, author of The Carey Formula and an inspiring entrepreneur.

As a taste of what's to come, check out Barbara's tips for innovators and entrepreneurs:

SIMPLE SECRETS TO SUCCESS

Words of Wisdom

Surround yourself with people who can do the things you can’t…
Doing everything and being everything to everyone can become exhausting. Use the people around you for creativity and inspiration. The saying, “Two heads are better than one” is often the best solution to staying positive and creative.

Know your customers intimately…
Do as much research as possible on your target market. Whether you conduct focus groups, send out survey or take polls go the extra mile to get to know who’s buying so you know who to sell to.

Building Relationships…
Not only is the relationship with your consumer market important, so is the relationship with your manufacturer. Do what you say you’re going to do. Follow up and be thorough. They won’t know what you want unless you’re specific. The better relationship you have with your manufacturer the easier and quicker things get done.

Keep it Simple…
Don’t get ahead of yourself - you’ll get overwhelmed. Take one step at a time and keep it simple. Start with a simple plan and add to it as you’re ready.

Glamour Magazine

2007-08-26T12:51:00.000-07:00

A few months ago, I attended Glamour Magazine's Top 10 College Women 50th Anniversary in New York.

The event brought together a few hundred amazing and inspiring women who have been winners of the competition in the past (I was a Glamour College Woman in 2003).

Among the winners are successful entrepreneurs (including Martha Stewart and the CEO of Pimp Your Friend), the Mayor of Dallas, TX, managing directors of financial houses (including Goldman Sachs), political advisors, philanthropists, authors, and artists.

The anniversary/reunion was a phenomenal event and it reminded me about the importance of the contest in recognizing leaders and making a positive impact in the lives of women.

Tye contest is a great opportunity to recognize the next generation of leaders (including women innovators and entrepreneurs) and I wanted to encourage college juniors (that's 3rd year undergraduate students) in Canada and U.S. to apply for the competition.

The contest deadline is November 30, 2007. For more information or to apply, visit http://www.glamour.com/news/top10collegewomen

(I look forward to seeing lots of innovators and entrepreneurs at the 75th Anniversary!)

Web Apps Made Easy

2007-06-24T08:08:00.000-07:00

I was getting lost in the world of online applications ... until I came across Simple Spark.

Elevator Pitch

2007-06-16T13:56:00.000-07:00

Wondering how to craft the perfect elevator pitch?

Check out some pointers and an example here.

Best Cities for Entrepreneurs

2007-06-16T13:43:00.001-07:00

I'm catching up on my Business Week alerts readings and I came across this article on the best metro areas for entrepreneurs in the U.S. The results are from a study funded by the Kauffman Foundation.

I'd be up for moving to Miami to pursue business opportunities :0)

Philadelphia made the list; Pittsburgh, sadly, did not (I'm rooting for my new hometown).

I found one of the comments particularly thought-provoking; someone commented (somewhat sarcastically):

"Well, I guess if you call a Lawn Care Service a good company the things are just fine in America."

Is that a good point? Is all entrepreneurship good entrepreneurship?

Link to the actual study by Prof. Robert Fairlie, UC-Santa Cruz

Modern Marvels Invent Now (R) Challenge Winners Announced

2007-05-12T11:44:00.000-07:00

Our partners at the Modern Marvels Invent Now(R) Challenge have announced the Challenge winner (a neat social invention):

NEW YORK (May 11, 2007) – The History Channel_® and Invent Now^® Inc., a division of the National Inventors Hall of Fame^®Foundation, announced today the Finalists and Grand Prize Winner – the top inventions of 2007 – in the second annual Modern Marvels Invent Now^® Challenge, a national competition in search of America’s next great inventor. The Challenge, which is named in part for Modern Marvels^®, the long-running series on The History Channel that celebrates ingenuity, imagination and invention brought to life, named Michael Sykes’ Enertia® Building System the 2007 Modern Marvel of the Year.

The Enertia® Building System uses a patented process to increase the latent heat storage capabilities of wood materials. The system also uses milled wooden blocks to eliminate the many materials and labor-intensive steps of house wall construction, replacing them with simple screwed-into-place units. The result is an attractive house of renewable material that heats and cools itself with free, natural clean energy. The competition also named Kim W. Bertron’s SimpleShot as First-Prize Winner, Dan Didrick’s X-Finger as Second-Prize Winner, Christine Ingemi’s iHearSafe Earbuds as Third-Prize Winner and David T. Krausman’s DeSat Counter as Fourth-Prize Winner.

For more information about the winners and the competition, please visit the Modern Marvels Invent Now(R) Challenge web site.

Founders' Equity

2007-04-16T08:28:00.000-07:00

Last week, YII held a webinar about Founders' Equity with Barbara Johnson and Harry Hanson, Partners at Choate Hall & Stewart.

The webinar will be archived for our Premium Members. In the meantime, enjoy these useful tips from the webinar:

1. When you are issuing founders' equity, think about the percentage of ownership rather than the number of shares and carefully negotiate the shares with each potential partner in accordance to their role in the start-up.

2. If you are considering paying your first employees with equity, remember that you should not think of your equity as "cheap money" that can be given away. With equity, you give away ownership in your company.

3. There are two forms of equity: restricted voting common stock (usually offered to owners/founders) and options (usually offered to consultants and employees).

A Note from Our Partners - Modern Marvels: Great Inventions Week

2007-04-15T18:17:00.000-07:00

Guess what lava lamps, NASA and snack food have in common?
Modern Marvels: Great Inventions Week
May 15 – 17 on The History Channel_®
Check your local listings for times.

From tape cassettes to lava lamps, 60’s Tech tells stories of modern marvels that changed the world. Stay tuned for It Came From Outer Space, our look at NASA technology in everyday products. Hungry for more? Snackfood Tech showcases the science behind your favorite munchies!

To top things off, watch as we reveal the outstanding innovators of 2007 – the Winners of the Modern Marvels Invent Now Challenge!

Be Inspired! Watch Modern Marvels Wednesdays 8pm/7c

Visit History.com/invent

Web 3.0 Cont'd

2007-04-11T16:31:00.000-07:00

Continuing my musings about Web 3.0, check out this Q&A with Tim Berners-Lee about the Semantic Web and a related article about why the Semantic Web will be valuabl e.

Useful Resource for Writing Business Plans

2007-04-07T09:20:00.000-07:00

I recently came across this helpful resource: a guide on how to write business plans by William Sahlman at Harvard.

I particularly like the checklists and questions scattered throughout and the visualization of risk and reward.

Playing Games

2007-04-03T19:08:00.000-07:00

I recently attended the Game Change Summit held at the scenic Kingbridge Centre.

The objective of the summit was to discuss how games are changing the business and educational playing fields (pun intended). It was a fascinating journey that involved brainstorming with a very diverse group about how to leverage the power of games to learn and connect.

An example of such a game is the FIRST Robotics Competition (or, rather, "co-opetition") where high school students learn about communication skills, gracious professionalism, and teamwork while competing in various games. The Competition has garnered a large community across North America and thousands of students now participate - learning while playing.

I've been familiar with the concept of experiential learning for some time, but the Summit made me aware of the phenomenal possibilities of virtual games to model real-life situations. I've also become aware of the increasing prominence of the topic. For example, Business Week devotes an entire portlet to the subject.

How do you think we can harness the power of play to learn and connect with others?

Live Event in Pittsburgh

2007-04-03T18:07:00.000-07:00

Join YII and the University of Pittsburgh's Entrepreneurs' Society tomorrow for a re-broadcast of the Market Research Webinar with Paige Arnof-Fenn, CEO of Mavens & Moguls.

The event will include door prizes, refreshments, and networking opportunities.

"Launching an Entrepreneurial Career"
April 4, 2007
5:00 PM - 6:00 PM
University of Pittsburgh
Mervis Hall, Room 114

RSVP 412.648.1544
ieeregistration@katz.pitt.edu

All students (not just those from the University of Pittsburgh!) are welcome.

eBooks

2007-03-23T20:05:00.000-07:00

I remember starting an e-zine for my high school many years ago (when such things were not yet common and were called "e-zines") and subsequently doing my senior year project on the rise (or not) of the e-book.

I was thus fascinated by Geeksugar's poll on whether people would read books online. When I last checked, 57% of visitors said they would not read books online (although 24% are willing to give it a try).

Relatedly, I recently browsed Google Book Search, which is trying to archive books online. Most of the titles I searched were only available with limited view (which was free and so I got a better view than I would have gotten otherwise...).

I recall a case study in my entrepreneurship class about ebook readers and difficulties with compatibility across different hardware. It was an interesting glimpse into the difficulties faced by start-ups that are trying to enter a market where they need to interact with many different players (i.e. authors/publishers, distributors, etc.) to which the start-ups have limited access.

So, apart from difficulties with users willing to adopt new technologies, start-ups in the area have to deal with various barriers to entry resulting from dispersion of resources and potential partners (and one of the competitors already in the market was Microsoft...).

Tumblr'ing

2007-03-22T15:48:00.000-07:00

I stumbled across Tumblr today - Tumblr is like a blog, except it's an online scrapbook.

I wonder if the concept of the "online scrapbook" is sufficiently different from the blog, though.

I would sign up, but I am now a member of so many online, Web 2.0 communities that I can no longer keep track (MySpace, Facebook, Flickr, LinkedIn, Plaxo, and way too many others...).

The Next BigThing

2007-03-22T14:48:00.000-07:00

More than 700 IEEE Fellows predict the next big things, including:

"Things starting to think" (from Neil Gershenfeld, director of MIT's Center for Bits and Atoms)
"Lightweight infrastructure" (quite significant to emerging economies, perhaps?)
"Extending biology - genetic engineerings and bioinformatics applied to create new life forms and reshape existing ones"
Integration of nanotechnology into MEMS and biosystems (we've seen this one coming for a while, in theory?)

Check out the details...

Web 2.0

2007-03-20T22:18:00.000-07:00

I've recently come across a few blogs musing about the state of Web 2.0 (check out Peter Rip's and Paul Kedrosky's articles, for example).

Peter Rip (not alone) suggests that Web 3.0 will be about building platforms and "web services" that will integrate sites and ease interoperability issues.

I thought it might be fun to see where you thought Web 3.0 was heading (I guess I'm still stuck in Web 2.0 in calling for user generated content!).

Learn about Intellectual Property

2007-03-18T11:04:00.000-07:00

Join YII online for the Intellectual Property for Start-Ups webinar with Suvashis Bhattacharya of Thelen Reid Brown Raysman & Steiner (Silicon Valley) on Thursday, March 22nd, 6 - 7 PM EST.

Find out more and register on the YII web site.

Oprah AND QVC!

2007-03-15T22:28:00.000-07:00

Oprah and QVC teaming up is huge because both shows can provide inventors with instant credibility and an audience of millions!

Check out how you can get in on the action.

New Incentive to Innovation

2007-03-13T23:25:00.000-07:00

If independent inventors cannot afford the expenses of patents, perhaps prizes should be used to induce innovation? This approach has been used since the time of the Industrial Revolution, as I discovered when writing a paper that I presented at the Canadian Law and Economics Association at the University of Toronto a few years ago.

The XPrize does exactly this, offering large monetary rewards for specific break-through inventions. In the first round of the XPrize competition to build a private, manned spacecraft, most of the sponsors were able to raise funding to build their prototypes (and working models) by recruiting sponsors who received substantial media attention from their participation.

(Young Inventors was excited to have the Canadian Arrow Team and XPrize competitors present at our second annual conference in Toronto.)

Yet2.com is another site that is a competitive market for technical solutions, as well as a market for stand-alone intellectual property.

Innovation in the United States

2007-03-08T22:33:00.000-08:00

Inc. Magazine recently published a great visual and interactive representation of where innovation takes place in the U.S. based on a report from The Information Technology & Innovation Foundation.

Massachusetts tops the list (and the accompanying article quotes Colin Angle of iRobot, the keynote speaker at Young Inventors' last conference).

Pennsylvania (my new home state) ranks 21st.

I was particularly interested in the large number of metrics employed by the study.

In terms of promoting entrepreneurship and innovation, the article cites Maine as a particularly successful state. Angus King, the governor of the state, attributes the state"s success to start-ups.

The entire report is available from the Kauffman Foundation here.

Survey from one of our members

2007-03-06T22:00:00.000-08:00

One of Young Inventors' members is conducting a survey that analyzes the narratives of founders in starting web 2.0 companies. Feel free to check it out and contribute your thoughts if you are a company founder.

Outsouring and Manufacturing Overseas

2007-03-04T07:35:00.000-08:00

To celebrate Entrepreneurship Week USA, Young Inventors held a webinar with Ashton Udall of Global Sourcing Specialists about manufacturing and outsourcing products overseas.

The webinar was jam-packed with information about how to get quotes from suppliers, establish requirements and first manufacturing runs, deal with customs and payment, and protect your intellectual property.

I asked Ashton about some helpful web sites for people interested in manufacturing and outsourcing and he suggested Alibaba.com and the Federation of International Trade Associations (FITA).

National Inventor of the Year Award

2007-02-24T21:29:00.000-08:00

The Intellectual Property Owners Education Foundation has announced its call for applications for its National Inventor of the Year Award.

The competition includes an award for Youth Inventor of the Year (and Industrial Design Inventor of the Year). All in all, there are many opportunities to be recognized for all of your hard work and dedication to innovation!

Is "Innovation" Meaningless?

2007-02-18T20:37:00.000-08:00

The proliferation of "innovation" as a business trend has not translated to profits for many major business players.

That is not to say that innovation is an inappropriate business focus, just one that might be misunderstood. One of the difficulties with innovation is that it is highly ambiguous. In addition, the step from lab to market is highly uncertain. Combined, the ambiguity and uncertainty make ROI (returns on innovation) difficult to predict. Thus, when using it as a strategy (or a buzzword), companies must recognize that innovation can be a double-edged sword.

Big Plans

2007-02-18T20:28:00.000-08:00

Given that this blog is not as frequently updated as I would like (for one, because I maintain three blogs), I have decided to consolidate this blog with my Innovators' Hub blog. In addition, I hope to extend the focus of this blog more broadly to entrepreneurship, innovation, and cool technologies.

What does this mean?

1. More frequent posts.
2. More than just occasional postings about business advice. Why? Because I think that innovators and entrepreneurs benefit from a more diverse base of knowledge (including information about trends and policies that may influence the future of business - and the world).

I always welcome thoughts and suggestions, so please post them here (or drop me a note).

Changing the World with Medical Technologies

2007-01-20T21:03:00.000-08:00

One of Young Inventors' members and executive of Aerovax, Jose Gomez-Marquez, has a cool new blog about medical technology and how it's changing the world.

Check out Little Devices that Could

Raise Funding from Angel Investors

2007-01-10T10:46:00.000-08:00

Trying to raise funds for your venture?

Join Young Inventors for a webinar with Nick Triantos, Board Director at Sand Hill Angels and former Chief Software Architect at NVIDIA as he answers the question:

What is Venture Capital and Who Are Angel Investors?

January 23, 2007, 6 PM - 7 PM EST

Register here (Young Inventors' Premium Members receive free access to all webinars)

Learn about Market Research

2006-11-29T21:39:00.000-08:00

On Monday, December 4th, join Young Inventors International for a webinar with Paige Arnof-Fenn, founder and CEO of Mavens and Moguls for a webinar about market research.

Paige was a dynamic presenter with a wealth of tips at the Young Inventors conference at MIT and we've invited her to share her insights with more of our members via the webinar.

Paige is also a columnist for Entrepreneur Magazine; you can read her articles here.

Paige will present the ten tools you need to conduct effective market research.

Find out more and register for the webinar.

Social Entrepreneurship Webinar

2006-11-29T21:37:00.000-08:00

Today, we held our first Social Entrepreneurship webinar with Jim McClurg of the Social Enterprise Alliance.

Jim offered a number of tips for social entrepreneurs and provided a succinct and informative overview of the field of social entrepreneurship. He also discussed the many opportunities for social entrepreneurs and mentioned some helpful resources (including the Social Enterprise Alliance, of course).

Jim's presentation is archived on the Young Inventors' members web site for our Premium and University members.

Building Your Team

2006-11-12T21:30:00.000-08:00

Check out this month's Campus Life Magazine article about building teams.

Protect Your Intellectual Property

2006-11-11T06:51:00.000-08:00

So, you want to protect your intellectual property, but don't know where to start?

Join Young Inventors International for a webinar with Ebad Rahman of Bereskin & Parr on November 16th, 3 PM - 4 PM EST and have all of your questions answered!

Visit Young Inventors' web site for more. Our premium members receive free access.

Four Things You Need to Know About Manufacturing in Asia

2006-11-09T19:44:00.000-08:00

A post from Ashton Udall, our resident expert on global sourcing.

Four Things You Need to Know About Manufacturing in Asia
By Ashton Udall

Asia has become a hot topic amongst small businesses and inventors who want to benefit from the tremendous cost-savings there. But, before newcomers to the Asian manufacturing and business environment jump in, we recommend that you understand some crucial issues and strategies to manufacture your products abroad successfully.

Be prepared to face communication barriers in language, culture, time differences, and distance. Many problems arise from misunderstandings about requirements and expectations. Effective cross-cultural communication is critical to success, so find someone you can communicate well with.

Many have rushed into the sourcing process and failed because they did not spend sufficient time to find the right partners and take the right steps to control the process. Invest more time up-front to make sure these things are in place before you begin manufacturing, and continually verify that you are receiving the results you require. Leaving nothing up to chance will help you will avoid costly problems later.

When you begin sourcing, finding suppliers with low costs will typically not be difficult. It is finding suppliers that can provide high-quality product that will be the biggest variable in your success. Inspect a factory’s quality by visiting the manufacturer, seeing samples of their work, and establishing strong quality control processes to ensure you get what you asked for.

Finally, find someone on the ground in Asia who you can trust to look out for your best interests. You or someone you trust must routinely verify that the process is going according to plan and small problems are fixed before they become major issues. Whether this is you or a service provider, this is one of the best strategies in reducing the risks and maximizing the rewards of sourcing your product abroad.

To learn more about sourcing your products overseas, contact Ashton Udall at Global Sourcing Specialists, www.globalsourcingspecialists.com, AUdall@globalsourcingspecialists.com (415) 359-8115.

Watch YII Member Compete on TV

2006-10-10T08:46:00.000-07:00

Check out Young Inventors' member Gilad Shoham as he and his start-up compete on TV on the Dragons' Den.

Starting at 8 PM EST on CBC.

Ready, Set, Start-Up!

2006-10-06T20:47:00.000-07:00

Our monthly article in Campus Life Magazine: Ready, Set, Start-Up!

Learn from One of North America's Best-Known VCs

2006-10-06T04:52:00.000-07:00

October 11th,
Wise Words: Lessons for Building a Great Startup
Learn how to build a great team from one of Canada's most prominent venture capitalist!
Sean Wise, Wise Mentor Capital
www.seanwise.com

Sean will cover the following topics:

1. Why building a team is important for start-up ventures (i.e. why can't the inventor alone do everything?)
2. The characteristics of a great start-up team and how to build a start-up team
3. Tips/practical steps for early stage inventors/entrepreneurs who are still in school and seeking to build a venture that is viable in "the real world."
4. Raising Capital for Startups: the stages and sources of funding, what you need to have before you go for money, how early is too early, what to do if you are too early

*This event will not be recorded*
Participants and premium mebers will receive exclusive downloads from Sean
Webinar Fee for Basic Members: $15
Webinar Fee for Premium Members: Free

Thank you to our partner, Globalive Communications (http://www.globalive.com) for their webinar support.

Click here to register.

Our Blog Has Moved!

2006-10-04T17:57:00.000-07:00

You can still visit our old blog.