It is key to study the viability of the invention.
Hi, friend:
I know you're convinced that your invention works.
I also know that you have little interest in investing money in studying the viability of the invention.
Well. 70% of the inventors we work with have that blind FE because they have been fed with a couple of drawings in the patent company on duty.
Be careful, friend, from the memory of the Utility Model to reality, there is quite a long way to go.
This month we received a client who intends to develop a super interesting robot for the world of hospitality.
The truth is that the functions it aims to achieve can be achieved with more than 5 technologies available on the market.
It is also true that in the patent company, they have NOT broken their heads too much. They chose one of the paths and this is how they described them in the famous memory.
Without measuring the consequences!
After this client's vote of confidence, we have budgeted the work in two stages:
- Study of feasibility of the invention and basic engineering project.
- Design and manufacture of the prototype.
Do you want to know the first conclusions?
From the first stage. Yes, in the same feasibility study and engineering project, we have been able to conclude that: if we manufacture the machine as described in the patent, it is likely to work, but replicating the machine will cost €4,800 more than using available technologies that we have found.
You must be very clear that: the more you invest in the prototype, the result multiplies your opportunities in the market.
While it is true that our commitment is to achieve a functional prototype, it is also true that we ensure the viability of the product in the future.
Friend, if in this process, you are accompanied by professionals who forget that your product has to be the basis of a business.
We're going bad!
In the same engineering project, from laboratory tests, we were able to conclude the shapes of the machine, integration between processes, democratized electronic components in the market, as well as parts and pieces that can be easily replicated in the market.
At first, Carlos, our client, suspected that the engineering project was a superfluous expense. I completely rejected this stage.
He came to tell us, "... "there is (name of a Let's Prototoype competitor) in charge, so, either you budget for the manufacturing of the prototype of my machine without so much fuss, or I'm going to the competition..."
Friend, in that case, we could have listened to Carlos and pleased him.
Overall, one more customer is always good. But we can't afford bungles.
I explain it to you with complete clarity.
The formula is simple:
Prototype price = Cost of materials + engineering hours + Risk of iterations in the process.
We are talking about products that have not been made before, therefore, the risk associated with continuous changes in the prototyping process is brutal.
The feasibility study and prior engineering project is the only tool that allows controlling the “Risk of iterations in the process” therefore, manufacturing the prototype, with this background, may cost up to 40% cheaper.
How do we do it at Let's Prototype?
First of all, we only propose this type of studies in prototypes where we suspect that there is much to improve on the initial approach.
If we do not see clear improvements on your initial idea, we directly budget for the manufacturing of the functional prototype, with a completely fixed price.
Now, what is very important is the content of the feasibility study and engineering project. Therefore, it is important that you review the main aspects before accepting them:
- The scope of the investigation must be defined.
- The hypotheses or problems to be solved must appear, black on white.
- The practical experiments that are planned should be described, or at least mentioned.
The estimated time for the development of the study must appear in the budget.
At least the following must be defined with maximum clarity: the details associated with the deliverable material, since it is, ultimately, the product resulting from the first stage.
So that we understand each other, the engineering project to which we refer is undoubtedly the recipe for achieving the best possible prototype, both technologically and economically.
Do you want us to carry out a study on your invention? It would be a very good step to start working together.
Remember... With these tips, I don't intend to sell you anything.
I am only fulfilling my commitment to support our community of inventors. Of which you are part.
Warm regards
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Business Director - Inventors' Advisor at Let´s Prototype
Erick Remedios has been linked to entrepreneurship and the launch of innovative projects and inventions for over a decade. His start in the entrepreneurship sector began as the Project Management Director at the network of Private Investors, Business In Fact, S.A., a club of private investors specialized in high-risk investments, which he ended up managing as General Director for at least 5 years.
As the director of the Private Investors network specialized in innovative projects in the startup phase, Erick Remedios participated in more than 40 investment operations, with his main functions being: advising entrepreneurs and inventors, as well as private investors interested in investing in such projects.
Erick Remedios has been one of the influential figures in the development of the ecosystem of entrepreneurs and private investors in Spain. Since 2012, he has participated in numerous private investment forums, has advised entrepreneurial projects as a member of their Boards of Directors, and has served as a lecturer in numerous Public and private Universities, specialized public centers in entrepreneurship, and internationally leading business schools, such as It Aérea Business School, where he leads the management of the Business Model Design Module for entrepreneurs, mostly Aerospace Engineering graduates.
Specialized Centers in Entrepreneurship and the Launch of Innovative Projects where Erick Remedios has participated:
- Direction of the Program - Sanse Emprende from the City Council of San Sebastián de los Reyes, Madrid.
- Direction of the Espoban Program – Diputación de Córdoba and European Center for Business Innovation. Training of entrepreneurs and inventors and preparing them to attract capital through private investors.
- Speaker on the subject of launching innovative projects at Universities such as: Pablo Olavide, University of Seville, University of Málaga, University of Cádiz, University of Huelva, University of Almería, University of Jaen, University of Granada.
- Direction of the Entrepreneurship Module – IT Aérea Business School.
- ENyD Business School: Professor and lecturer in the area of Entrepreneurship and Private Investment.
- Avanza Castellón - Mentor of entrepreneurs and inventors in the program of the Diputación de Castellón.
- Ávila Emprende – Program of the City Council of Ávila. Mentor of entrepreneurs in sales processes and product development.
- Aula UGR- Professor of entrepreneurship and management of launching innovative projects in programs aimed at training teachers from the University of Granada.
- Master Up - Professor of entrepreneurship and investment management in the Official Master's for entrepreneurs from the University of Cadiz.
At the same time, numerous companies have signed Erick Remedios as an advisor and member of their Board of Directors, companies in which Mr. Remedios has also acted as the representative of the private investors who have placed their trust and economic resources, including:
- Tu Fabrica de Eventos
- Baby Radio
- Graffos
- Neurobia Research
- HitsBook
- Bit Credit
- Glelemo
Currently, Mr. Remedios is leading the international expansion of Let´s Prototype in the United States, while also advising inventors on startup processes for projects related to innovative Hardware or Software elements, both in terms of product design, a specialty of Let´s Prototype, and in terms of designing strategies for selling inventions and patents.
Interviews with Mr. Remedios and publications authored by him in Media:
- School of Business and Management: [Link](https://www.youtube.com/watch?v=ch3nRTFvxhw)
- Diputación de Córdoba. Training for Investors: [Link](https://www.youtube.com/watch?v=Cj2fvxkD-zI)
- Spanish Television - Program Emprende: [Link](https://www.youtube.com/watch?v=vZRi98CE20M)
- TV2 - Spanish Television: [Link](https://www.youtube.com/watch?v=ms22bxyllKc)
- University of Cadiz: Article for Inventors: [Link](https://emprendedores.uca.es/lean-prototyping-el-puente-entre-el-concepto-el-prototipo-y-las-patentes/)
- University of Granada: Article for Inventors: [Link](https://ugremprendedora.ugr.es/6-tips-para-convertir-tu-idea-o-concepto-en-prototipo-lean-prototyping/)
Latest posts by Erick Remedios (see all)
- Tipos de negocios rentables para emprender en USA - October 1, 2024
- Best 3D printing firms - August 28, 2024
- Most Important Spanish Patents in History | Inventions and Their Inventors. - June 19, 2024