What is Ideasintoprofit.com?
Ideasintosprofit.com is a brokerage between inventors and manufacturers. It helps guide people with ideas for products through the maze of intellectual property, grant availability and market appraisal.
How much does it cost for Ideasintoprofit.com to assess my idea?
For an inventor, there is an initial registration fee of £25 plus VAT. Before the inventor discloses their idea, Ideas into Profit will send an NDA (non-disclosure agreement) for the inventor to sign and return.
Once this is complete and the idea explained, Ideas into profit can undertake a desk top novelty search, grant availability appraisal and a market research report relating to the idea, each for £150 plus VAT.
How is my idea assessed?
Ideasintoprofit.com has an experienced appraisal team, strong in each individual sections field. In each report, a grade will be given based on the teams’ knowledge and experience and of the research that is carried out. If the idea scores highly in the three areas, the idea is likely to have enough strength to go through to the development stage. (See FAQ 5.)
If the idea doesn’t score as well in a certain area, it can, of course, still be developed but possibly in a different way. For example, an idea may be very strong in terms of its novelty but may have such a small market that it would be a high risk to develop it.
Once I have received my Inventor reports back, how do I proceed?
Well there are a number of options from here. You may have sufficient confidence in the idea to start up a business. For this you will require a business plan and/or grant application (among many other documents). Ideasintoprofit.com can assist in the development of this for a fee of £500 plus VAT.
Once sufficiently developed, the idea can then be presented to suitable manufacturers on the database, who will want to take the idea on to manufacture.
You may decide to sell the idea to potential investors, who will be able to fund its development in return for a royalty. Ideasintoprofit.com can introduce you to private investors who may have experience in the type of product idea that you have or alternatively refer you back to public bodies such as your local Business Link and the East Midlands Development Agency.
Unfortunately the idea might not be sufficiently strong to justify its development, but Ideasintoprofit.com will have saved you a lot of time, effort and cash.
How can I get additional support?
Additional support may be offered for an agreed, negotiable royalty percentage to Ideas into Profit.com Ltd.
How much does it cost to subscribe to the Manufacturers database?
A manufacturer can become a member of Ideasintoprofit.com by subscribing for £500 plus VAT. This will enable them to pass on potential inventors, who approach them directly, to Ideasintoprofit.com. Once the inventor has gone through the process described in FAQ 2 above, the manufacturer has the option of working with that inventor with the knowledge that the proposal has been assessed and quantified.
However, every manufacturer that succeeds in getting another manufacturer to subscribe to Ideasintoprofit.com, will receive £250 back e.g. If manufacturers B and C are recommended by manufacturer A and sign up to Ideasintoprofit.com, A will receive £500 back – the initial subscription fee.
