Big Idea Group/Royalty Pros Helping Companies Find, Refine, and Monetize Innovation

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Big Idea Group/Royalty ProsHelping Companies
Find, Refine, and Monetize Innovation

• Spring 2004

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Chances are...

• Your company needs innovative products to
  succeed. Yet like most companies, you lack a
  formal process to seek out, evaluate, and
  monetize innovations developed by inventors,
  employees (non RD), and customers.

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Big Idea Group/Royalty Pros

• We help companies find, refine, and monetize
  innovations
• Database of over 8,000 inventorslargest inventor
  network in the world and over 200 inventions
  reviewed per month
• Our inventor network was built via roadshows,
  contests, hunts, and word of mouth
• 60 products in development (royalty or direct
  deals)
• Weve assisted large and small companies with
  their innovation flow and process Sunbeam,
  Staples, QVC, Gillette, Advantus, Demco, Toys R
  Us, etc.

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Innovation Is Critical

• 55 of the growth of US economy since WWII has
  been driven by product innovations
• Most businesses were founded by
  inventors/innovators. But most move away from
  working on innovation, shutting out inventors,
  customers, and even employees.
• Competitive advantage in other areasquality,
  manufacturing, distributionis increasingly tough
• Yet buyers always want to know whats new?
• Innovation wont routinely happen unless you work
  at it

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Why an Innovation Partner Makes Sense

• Your company is fully allocated developing
  next-generation products no time, money, or
  staff to do more
• Your company is focused on feeding the existing
  approval/distribution/customer system
• We have the network, deal flow, entrepreneurial
  outlook, and experience to be immediately
  productive
• An outside innovation partner can serve as a
  buffer between you and inventors

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What BIG/Royalty Pros Provide

• Help in establishing a process specific to your
  needs
• Deal flow
• Roadshows
• Hunts
• Word of mouth
• Special programs contests, events, etc.
• Efficiency Deal with the best, most developed
  ideas, not with thousands of raw concepts
• Experience with getting innovations from sketch
  to shelf
• Legal and political protection from inventors

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Roadshows

• Open calls to inventors (free to inventors)
• Run nationally 10 events per year
• 50-150 inventions per weekend
• Independent panel reviews and critiques ideas
• Typically we pursue only top 2-4 of ideas
• Inventors can also participate by phone or mail
• Significant tool to build our network

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Hunts

• Client-generated request for innovation
• Packages mailed to top 300 inventors email to
  remaining 8000 design schools and inventor
  groups also contacted
• Typically we receive 200-600 submissions within 6
  weeks
• We select best and present to client

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Contests Special Events

• Special projects to solicit ideas from customers,
  employees, or inventors
• Customized to the need of the client
• Large or small
• Internal or external
• One time or repeating
• Schedule and prizes up to you
• All ideas or just best presented to you

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Necessary Commitment

• Senior-level commitment to make this happen
• Company point person/advocate with authority to
  drive the process
• Motivated innovation team
• Entrepreneurial attitude looking to say yes
  to new ideas
• Willingness to establish a process
• Monthly retainer plus royalties for BIG/Royalty
  Pros

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Steps

• Contract. Exclusive to your area of business.
• Education. Series of meetings where we share
  experiences and observations. We develop a
  common view and strategy.
• Process. We establish a team, process, and
  criteria for reviewing innovations.
• Flow. Reach out to employees, customers,
  inventors. We have a series of programs
  available.
• Execute. Regular movement of items through the
  process. Continually refine and improve the
  process.
• Evaluate Is process working? How can it be
  improved?

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What to Expect from BIG/Royalty Pros

• My personal involvement
• Support by a project manager
• Monthly meetings for six months, then every two
  months. On the phone almost daily with company
  point person.
• One-year for an established product Innovation
  Engine working at your company
• Steady flow of innovative ideas that will
  materially impact your business