Goals
- Expand our Invention Contests to include youth and more winners.
- Live stream monthly meetings to reach more people with good ideas.
- Provide 3 scholarships to start an Invention Business.
- Video document each winner's progress, as a "reality" teaching tool.
- Develop "The Idea Development Process", a community service program.
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Overview
The "Build An Invention Business" project offers an opportunity for highly skilled, creative, people to launch a business around great new ideas. New inventions, technology and the unique individuals that create them are our country's most valuable resource and create jobs in communities.
Deliverables:
- Live stream our monthly meetings, to benefit inventors everywhere.
- Host two Invention Contests (5th annual contest to license patent holders. 1st annual Youth Inventor’s Contest.)
- Offer 3 scholarships, $20,000 each, to be used to incorporate, patent, prototype, and train on private equity funding and patent licensing. Video document “The Idea Development Process” and start-up steps, as a reality style teaching tool on YouTube.
- Promote PR: National campaign with Midwest regional emphasis.
- Secure $37,500 from corporate sponsors/private donors.
How will the 250K be Used? |
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| Budget Notes: The cost of the 5th Annual Invention Contest is not included since sponsors are already in place. Monthly meeting speakers from Jan-May are not included since they are already confirmed. Many volunteers who work the Annual Invention Contest and support monthly meetings, are not paid. | |
| $ 8,000 | Expand Invention Contests to include young inventors and more winners. |
| $ 32,000 | Create instructional Videos on "The Idea Development Process" |
| $ 8,000 | Speaker and Travel for Industry Experts at monthly meetings |
| $ 83,000 | Staffing (Executive Director, Event Planner, Technical, Admin) |
| $ 22,200 | Graphic Design, Marketing and PR to increase contest applications. |
| $ 25,000 | Website upgrades for Live Stream Video and GoToMeeting modules |
| $ 11,800 | Association Operating Expenses (telephone, misc admin support) |
| $ 60,000 | Provide 3 Invention Business Scholarships to ignite growth |
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