I've invented. How much should business partner have?

[ShinyShoe]

Did I miss the explanation of the product? Its been to NEC so must be in public domain now...

 

[Morgana]

Enterprise Nation

Another resource which it would be worth your while having a look at is https://www.enterprisenation.com/ which has a lot of resource - including access to startup loans (not exactly substantial, but something is better than nothing!) and also crowdfunding.

 

[Sailingsaves]

Thanks again.

 

[Neil_Y]

Will you be at METS? if you need a partner investor who knows the marine industry this can be a very good place to guage industry reaction and find a partner.

 

[lw395]

You might be better licensing the idea/product to an existing company that makes and markets stuff, preferably a marine company?
It could be much quicker to market, you could get a reasonable royalty per unit.
Much less risk and cost for you.

I know people who've designed/invented products and lost lots of money trying to exploit them. Or at best spent years of their lives getting very stressed and made less than they would have done working less hours for somebody else.
I've also worked for someone trying to productionise a 'great new idea in electronics' only to discover 'prior art' going back to 1952.....

It depends on where the product sits in the market.

 

[BlueChip]

I'm confused, its a boaty product - you cannot tell us what it is, yet you have shown it at NEC and won some award?

 

[ffiill]

If you have something good just keep it totally under your own control and don't involve anyone else.
Good ideas work and make money.
I personally do not believe that unless you have lots of money to hype it that you can turn nothing into something.
Back at the turn of the 1970s we wanted progressive rock LPs imported from the US.Someone took the risk and
did it for us-Richard Branson.He was in the right place at the right time providing what the market wanted.

 

[westernman]

If you have something good just keep it totally under your own control and don't involve anyone else.

Doing it on your own and bootstrapping a business with very little money is very hard work. It can work, but it requires a bit of good luck as well.

Doing it with others relies of finding the right others. This is also very hard.
10% of a big healthy company is better than 100% of nothing.

Finding other peoples money to do it with, is hard work. But this becomes a bit easier once you have some money. Generally raising your first 1/4 million is harder than raising the next 3 million which is harder than the 10 million after that.

VCs generally only invest in companies recommended to them via intermediaries - who need to be paid up front (their way of checking out that you are really serious). I.e. you need to spend a fair bit of money to get that first round of investment.

There is no single easy right way of doing things. And many many ways to screw up or get taken for a ride.

Be careful.

 

[Daydream believer]

IRichard Branson.He was in the right place at the right time providing what the market wanted.

Was that when he went bankrupt??

 

[mjcoon]

I'm confused, its a boaty product - you cannot tell us what it is, yet you have shown it at NEC and won some award?

And it's useful to households...

Mike.

 

[Elemental]

And it's useful to households...

Mike.

Well, here's the shortlist for the 2014 show taken from the a Daily Mail article here The OP has already told us it was shortlisted.

As we know, the Pancreas won.

Artifical pancreas: Developed by medical scientists form the Renfrew Group and DeMontfort University, the device automatically regulates glucose levels using polymeric gel that manages the delivery of insulin into the peritoneum. It does not rely on the kind of electronic controls used in current artificial organs.

Balluga Bed: A smart, interactive bed with adjustable firmness, climate control and a built-in vibro massage system, all with Wi-Fi and Bluetooth connectivity.

Commuter X4: A rear lighting system for cyclists to give better protection and make them more visible on the road at night.

Doorjammer: A portable door-stop for use in hotels to give travellers additional security and peace of mind.

Roam folding bike: A folding bike which can be packed away and towed easily like a wheelie suitcase.

Rotite: A clip that joins two surfaces together.

Kikka Digga: A device which clips on to a garden fork or spade and makes light work of heavy digging.

Move It Furniture: A range of flat-pack cardboard furniture that is light to carry, but durable when assembled.

Plume Mudguard: A retractable mudguard which clips to any standard bike.

Splatform: A freeform construction toy for modellers.

Hummingbird Corkscrew: A new design for an easy way to open wine bottles (pictured above).

Marxman Pen: A simple way to mark up walls and ceilings for drilling which can be operated with one hand (pictured below).

Retrack: A device that clips to the back of a helmet and records bike rides and skateboard jumps from various angles. It then produces a 3D animated action replay on a smartphone that shows different angles, showing your speed, angle of descent and the movement.

Sq-easy Glove: A washing-up glove with an in-built refillable soap dispenser.

Hydroguard: HydroGuard is a reusable flood protection device, which can be quickly put in place by homeowners. It fits any door size and type, and seals entrances to prevent water entering the home.
Beachbag Plus is a beach bag that folds out over a beach lounger with cool bag, wet pockets and secret pockets for valuables

All Product Design: A matchbox-sized device that powers garden lights, for example, using radio waves and mobile signals. All Product Design has also invented a device that collects power from 'flat' batteries to extend their life by around three weeks.

Mini Rigs: High-volume, battery-operated speakers (pictured above).

Tappy: A bath tap protector for small children that also transforms into a hand puppet.

Beachbag Plus: A beach bag that folds out over a beach lounger with cool bag, wet pockets and secret pockets for valuables (pictured right).

Pinstar Putting Cup: Designed for golfers, this putting target can be used indoors and outdoors, on any carpeted or smooth grass surface, for putting practise.

IT-Tub: Technology for sealing tubs and pots that is easy to lock and open again as well as being airtight and watertight when closed.