You guys read about gadgets all day, right? Some of you probably have great ideas for products you’d like to see that haven’t been invented yet. If you share those ideas with Hammacher Schlemmer you could win a minimum of $2,500 plus 20 years worth of a percentage of every product sold through the catalog.
The “Innovative Product Search,” as its called, is being held in cooperation with Edison Nation. Ah, and here’s the catch. You’ll need to pay “a small fee” to Edison Nation for them to review your product or idea. Here’s more:
“For a small fee, Edison Nation will research the market and manufacturing potential for your idea and will conduct an intellectual property review. If your product is chosen, you will receive a $2,500 minimum advance from Edison Nation. You will also enjoy the unique possibility that your invention could be sold online and in our catalog, enabling you to receive royalties based on the national sales of your product.”
It’s only $25 per idea, which I suppose isn’t all that bad considering the possible payout.
Edison Nation can help turn your ideas or patents into actual products sold by Hammacher Schlemmer [Hammacher.com]
I’ll research every idea for only $9.99!
Having a design competition is a good idea. Paying the winners is a GREAT idea. But, if anyone charges you to review the idea, its a stinking lousy SCAM. This is a horrible idea that insults and degrades the intellectual property of creative professionals, the very same group they supposedly seek to promote.
Paying for reviewing an idea is awful. Next.
@Dave: I am one of the founders of Edison Nation. You really think Hammacher Schlemmer would be hosting a scam? Come on. They’ve been doing business for 161 years and have earned a very strong reputation. Edison Nation is the Web community for an Emmy-Award-winning PBS television series, Everyday Edisons. The US Patent and Trademark Office even supports us and attends our casting calls. More about us here: http://www.edisonnation.com/about_us.
As a point of clarification, you’re not paying for a marketing report or review. You’re paying so that your idea can be reviewed by a team of experts and then (if it’s among the best ideas and passes intellectual property tests) presented to Hammacher Schlemmer. There are real costs behind supporting the review team, flying to the Hammacher Schlemmer HQ to present the best ideas, etc… It also ensures that we aren’t overwhelmed by millions of unresearched ideas.
Tip to make sure your submission fee is spent wisely: Before you submit an idea, search for your idea at either http://google.com/patents or http://www.uspto.gov. The majority of ideas that don’t make it through the review don’t make it because they are blocked by an existing patent.
Thanks Matt for posting this. I was referred to EN this past weekend and doing a little DD. I am planning to submit my idea as soon as my patent attorney looks over the documents from the site.
I have also written a book on inventing that will be released this year (09).
I’m betting the only thing that will come of this would be making a few people $25.00 poorer.
What about a non disclosure release? There should be some kind of assurance that inelectual property is safe.
I didn’t see that in the advert.
@Matt:
Thanks for the reply. Its nice to see some communication direct from the source!
OK, its not a “scam,” so I apologize for reaching on that point, but it is extremely unusual to charge people for the purpose of doing potentially valuable work for your firm. Here’s why:
1) Designers may spend 10, 20 or even 100 hours developing a marketable product concept. That value far outweighs the 15 minutes (or whatever, it will never be as much as the designer) that Edison will spend reviewing it. Its just “un-cool” to charge for that.
2) I did not see that there is ANY guarantee that a specific number of concepts will be selected. It is true that most of the concepts from the general public will stink, but the current guidelines offer no guarantee that ANY products will ever make it to market. Its just plain weird to charge for a “competition” where no one (could potentially) win. Then why bother to hold the competition?
3) For example, if 1,000 designs are submitted AND no products are selected / make it to market, you will generate the appearance of a major conflict. Edison will have received $25,000 with no tangible results. That should be a serious concern with regards to your integrity and reputation.
That’s enough of the criticism, so here’s the constructive part where you can make it better:
1) Drop the fee, make it free. You’ll get far more free publicity and probably a few hundred school kids will go nuts and make it part of school projects, not to mention having college design programs getting involved.
2) Guarantee that there will be 5 or 10 finalists, who each receive $1,000 for the honor. More publicity for all concerned, except if the product is going into production and needs to be protected until its ready to sell. This will make a commitment that Edison is serious and backs it up.
3) Pledge that at least one of the finalists will be produced. If you can’t do that much, then perhaps you can award the “best of the best” a larger grand prize prize, say $5,000.
@Dave:
You’ll find that we are a very open company. If you look on our site, you’ll see that we have forums dedicated to answering questions about current Live Product Searches and just about all other operations of our site. We’ve made countless (and some major) changes to our site based on member feedback. We also have expert Q&A interview forums that let our members ask direct questions to the product development experts featured on our television series.
We do not guarantee that a specific number of concepts will be selected. This isn’t a contest, it’s the real world of product development and companies are betting big bucks on the ideas that they select (for instance, we invest ~ $250,000-$500,000 into each product that is selected for development on Everyday Edisons). I can, however, stand by our record. We have never held a search that didn’t result in at least one idea being selected for commercialization. Example: our first search to close resulted in 3 being selected. Major retailers and manufacturers don’t spend the time and money to hold searches on Edison Nation unless they are serious in their quest for innovation – and serious about commercializing that innovation.
That’s a good segue into your comments about various “prizes” and their values. The $2,500 advance is paid for each idea that is selected for commercialization – not just a single “winner.” And it’s just that: an advance. We’re not in this – and nobody who is serious about commercializing their idea/invention – is doing this for $2,500. The goal is to make this product the best, most innovative, best selling product it can be. Great product sales result in great returns and can make the $2,500 look like a drop in the bucket. It is, however, a nice start.
If you have ever tried to commercialize an idea, you will know that there are many steps, many costs and many obstacles to make that dream a reality. One of the most difficult steps is to create a relationship with the right people at the right retailers at the right time. That’s where we come in. We already have those relationships. What’s even more important is we tell you, the innovator, what companies are looking for what type of innovation and when. Their buying cycles often dictate all of those variables and are seldom public information. We have very strong relationships with our innovators and our retailers. Beyond that, the retailers know that your idea now has the backing of the entire Everyday Edisons product development team. That means when we show them your idea and say that it can be done, they know we are capable of doing it… and doing it right. I undersold what we do for you by just saying that we “review” it. We also will improve upon it and stand behind it when necessary. You will never, ever, ever be asked to pay us for additional product development.
I love this stuff and could talk about it all day long – and often do on our site. Rather than letting this post go on for another few pages, you should take a few minutes to check out our forums and you’ll see exactly what an independent innovator is up against these days and what we can do to help. Even if you don’t enter a Live Product Search (like this one for Hammacher Schlemmer), we also provide a ton of resources to help you take your ideas to market on your own. Also check out the videos section, check out our show and some of the free expert interviews where we talk about the ins and outs of product commercialization.
Thanks for giving me the opportunity to explain a little more about what we do!
The $25 fee is fine and appropriate. Keeps out the riff-raff.
Too much gimmie-free socialist think around here.
I recently drove to San Francisco to have a product evaluated and it cost me about $150 (which I was happy to pay). Before that, I flew to LA, got a hotel room, etc and spent about $500 to have a product evaluated. Therefore, I feel that spending $25 plus $9.95 a month is a good deal! I don’t have to get on the freeway, I don’t have to get on a plane, I can just sit in my pajamas and submit products all day long, and my chances of getting a product launched are probably just as good. I strongly believe that Edison Nation should charge for evaluating products, otherwise they would be bogged down with goof-ball submissions. I’m taking my chances with them, and I’m looking forward to the adventure!
Companies are also looking for new ideas, especially in an economy like this. However it really help if you have a working prototype.
I recently had an idea submitted for patent and currently in patent pending stauts. I’m realizing the challenges of presenting this invention for manufacturers to consider. I am considering setting up a booth to exhibit my idea under INPEX (Invent Help) during the 2009 International Home & Houseware Show. The cost is about $2,000 to set up an exhibit booth for 3 days. I’ve already spent a lot of time and money during the patent process, and do not want to waste my hard earned savings. I am some what skeptical since I’ve read scam reviews from the Invent Help company, but I’m looking for that opportunity to present my idea. I do not have any expereince in this process. Please advise. Thanks!
Contestant winners posted on Edison Nation are extremely hard to get in touch with and as yet I have been unable to Identify or Verify that they have received any benefit from Edison Nation .
Can anyone verify this and at almost 1million subscribers at 25 dollars a piece plus 10 per month somebody is scamlicious !!
Hi Allen,
I just caught your post – sorry I’m a little late. We list the members whose ideas have been selected for commercialization right on our home page. If you have an account, you can click on their names and see their profiles. Many of them also post in our forums on a daily basis and are very open about the experience. Every single one of the members who were selected have been paid their initial $2,500 down payments and their ideas are in production. None have hit the store shelves yet as the oldest have only been in development for about 6 months and it takes time to turn a great idea into a great product.
We’ve made another change since this story broke. We’ve had some pretty big mainstream searches lately (Walmart, Yahoo!, Bed Bath & Beyond, PetSmart, etc…) so we’ve dropped the $9.25/month gold membership requirement. Now, gold members pay $20 and non-gold members pay $25 to submit ideas.
Not sure where you read that we have 1 million paying gold members. We’re not there yet but I’ll let you know when we get there. Keep in mind, many of our members enjoy all of the benefits of our site for free. Gold membership is entirely optional.
The guy who say he is a founder of Edison Nation even admits above that “The US Patent and Trademark Office even supports us and attends our casting calls.”
That sould be totally illeagal. Imagine if the Post Office supported FedEX; Or the IRS supported H&R Block. I don’t like my tax dollars and patent fees going to support or endorse a private company.
That Edison Nation group is quietly creating a monoploly wherein you will have to go through them to submit an invention to any business. I’ve already been refered to Edison Nation from various businesses… “We don’t accept idea from individual’s… However, we are accepting idea submissions through an Edison Nation contest…”
And the USPTO supports and endorses this? We need to protest. Especially when you have such a tiny company like Edison Nation with virtually no oversight or auditing of how they review or select which inventions to submit, and to which companies.
Take a close look at what is going on inventors and entrepreneurs…. You don’t want this.
Not enough discussion here about the cost of scams and the toll it takes. How many inventors are scammed every year? At what cost? At what cost to innovation intimidation? Two points. 1) Make an informed decision. Cite statistics. Like http://www.inventionstatistics.com/Inventor_Invention_Scams.html
2) Don’t whine. Have the courage to express your opinions to Congress http://www.inventorinsights.com/Congress_Patent_Office_Oversight_Committee.html
You are all nuts!!! I think everyone is so scared of scams these days no one remembers honisty! It’s such a shame,, Everyone is against everyone else! Good luck to all of you,, live your happy argumentive lives and look at the world obliviously for what remains of the world we know today because change may never help those of you out there to stand up and face the people to announce that you condemed yourselves by the lies you lead!
ED is like crack…What you have is several hundred thousand delusional people sending ED 25 dollars under the delusion their crappy idea is going to make them millions of dollars. Not going to happen..ED leads them up this false scale of G1, G2, G3 and of coarse they get axed at the end before they make it to G8..What they should do is tell the people the odds of you making it to a store shelf is one in hundreds of thousands and if you do make it you will get 2500 dollars and a few cents commissions …
I would like to clarify a couple of things here
I am a member of EdisonNation.com. My idea just got rejected on the 7th step, if I’d got through that, the next step would have been stage 8, where my idea would have been presented to the sponsor (Petsmart).
Firstly, if EdisionNation was a scam, I dont think companies like Walmart, Petsmart and yahoo would be associating themselves with EdisonNation.
Secondly, there are success stories posted on the website, of people whose products did get selected by the search sponsor and have had their ads on TV. The winners havent earned millions yet, but its a start and it shows the the model is working.
Thirdly, Folks at EdisonNation have a TV show called Everyday Edison. With such high visibility, it would be hard for them to carry on with a scam without getting busted.
Joe: Members of Edison Nation dont quit their jobs and rely desperately on edison nation to chose their ideas.
Inventing has been a hobby for most members there and they use EN as a safe channel to pursue their ambition, without betting the farm.
I don’t think ED is a scam, weather they mean to or not they have created this situation where by they have a whole lot of people, paying them a whole lot of money but they only pick a few winners…how many submissions have they had and how many winners have they had? From what I understand they have had something like 13 winners…out of how many? 1 thousand, 10 thousand, 100 thousand. This scale thing. When you make it to 7 then get axed, don’t you go something like, oh I almost made it this time maybe if I try it one more time I may make it? I think that’s what people do, I may be wrong, But if I made it to 7 then I would try again..Just like a slot machine, so close but no cigar. How about this idea, if you make it to G7 and then get axed then you get your 20 dollars back. If you get axed at 1-6 then they keep your money..I just wonder how many G7 you would have? If the number of G7 dropped then you would have your answer…If the number of G7 stayed the same then you would know they were true and blue. Don’t get me wrong, if I have a idea I will submit it also. Knowing human nature I’m just afraid a lot of people could get hooked on this thing…It’s only 20 dollars and you were so close…
Has anyone won the Hammacher Schlemmer / Edison Nation contest that started in March?
I have not heard on the Hammacher Schlemmer/Edison Nation contest yet, but I am a finalist (8 finalist chosen and EN did post that number on the forums) with the Yahoo Green search. They don’t show how many submissions there were I think the reason they said was that it could be discouraging to some.
Joe, who are you or anyone else to decide what a person should or should not do based on $$ paid and the value they put on their own ideas.
Who cares who runs the opportunity, we are pretty lucky to even be considered through the retailers that go out on searches. If you know anything about the retail market (my guess is you don’t), then why are even commenting?
What you should do, is put your energy into developing a product that you can submit and see what happens. You might be quite surprised at your own creativity. There is only so much retail “floor space” in every store. They would typically develop their own products, OR go to reputable wholesalers that have had success in their stores over and over again because they RUN A BUSINESS..my guess is you also don’t run a business to understand this.
I would think that if they chose 100s of ideas then that would mean there were 100’s of great ideas! The difference being the WOW factor and the “lack of great ideas”. BUT if you were the one with a GREAT IDEA then try it on your own and see how far you get… its an average of $8,000 to $10,000 to get your idea patented (over the 20 years-there are fee’s every 5 years at a minimum) and then the cost of finding someone to build you a prototype then going to China to find a great cheap company to mass produce, then getting into the retailers yourself…GOOD LUCK! Edison Nation is an awesome company, one that wouldn’t exist without great minds like all of us that are members and getting our products noticed!
Happy inventing, give it try!
I know that you accept ideas, but do you also accept patents?
I have a new food product idea, that is very healthy and very low in everything !!!! It s a great new snack food!!!