Published 12/6/2010

USA National Innovation Marketplace: Saving American Manufacturing through Innovation

Last April, The U.S.

Leadership

Sherry L. Baranek

Contributing Writer, MoldMaking Technology magazine

The Right Tools

Companies or manufacturers interested in using the marketplace to spur innovation should contact their local NIST/MEP center to set up a workshop, or NIM’s website (planeteureka.org), which uses an open innovation strategy of partnering, licensing and co-developing innovations with partners outside of a company, Buchmeyer says. “Anyone can list their invention or need/wish in the Marketplace,” he elaborates. “Currently, there are 748 listings by companies for need/wishes—they are looking for innovation/products. And, there are more than 1,000 listings of innovations.”

NIM uses a three-pronged approach of translation training, valuation forecasting and access to buyers, investors and distributors. This tested research program called Merwyn (see Business Simulation Tool Below) provides a fair market price estimate for the invention. Innovators wishing to be listed in the Marketplace must complete this questionnaire. “For inventors or ‘sellers’, the Marketplace enhances credibility by providing a fact-based innovation research report and sales forecast that investors or ‘buyers’ can understand in 60 seconds—based on the same sales forecasting methodology companies use to screen their internal innovations,” Hall notes. “The Marketplace web site also provides access to manufacturers via the NIST/MEP network across all 50 states and Puerto Rico, similar organizations in Canada and the UK and the publishing of innovation listings to other web partners such as the Kauffman Foundation’s I-Bridge network.”

Since listing in the Marketplace is anonymous for privacy reasons NIM doesn’t track all of the connection made, but Buchmeyer notes there have been successes. One company in Kansas used their Merwyn report about a green automotive technology to secure testing at the Tulsa Airport shuttle buses. “We also know that one inventor of a moldmaking process out of Maine also has had success.” (See Advanced Composites in Moldmaking Below.)

“Market” Value

Buchmeyer notes that the primary challenge NIM faces is getting the word out to both companies and innovators about how ground-breaking Marketplace connections can be. “As part of the NIST/MEP team of centers in all 50 states, we are working with them to get the word out and do workshops with both companies and inventors, exposing them to the value of the Marketplace,” he says. “States like Maine, Kansas, Vermont and Arkansas have really taken the lead and set up their own state marketplaces to spur even more innovation in their areas.”

Hall concludes, “Our biggest goal is to save American manufacturing through innovation. If you’re not unique, you better be cheap. And cheap is not a winning strategy today. The best way forward is through innovation—and the Marketplace is making that happen.”

Doug Hall to Speak atPDx/amerimold

Doug Hall, founder of both the USA National Innovation Marketplace (NIM) and Eureka! Ranch, is set to give the opening keynote address at PDx/amerimold (May 11-13, pdx-amerimold.com)—a new trade show experience that will connect buyers and sellers from all aspects of the product development lifecycle. He will address innovation—particularly how to create, communicate and commercialize meaningfully unique ideas.

Hall’s Eureka! Ranch is located in Cincinnati with offices in the UK and Canada. The Ranch is an “invention and research think tank” that specializes in helping corporate leaders and real world entrepreneurs develop Measurably Smarter choices for growth; and boasts corporate clients such as American Express, Ford, Nike and Walt Disney. Merwyn Research Inc. is a market research company that provides innovation sales forecasts and publishes the PlanetEureka.com network of international innovation marketplaces. Merwyn is part of the Eureka! Ranch International family of companies.

Hall began his career as an inventor at age 12 when he invented, and sold, a line of magic and juggling kits. After earning a chemical engineering degree from the University of Maine, he joined Procter & Gamble. There he rose to the rank of Master Marketing Inventor—inventing and shipping a record nine innovations in 12 months using a disciplined system for thinking smarter and more creatively about growth.

He also has authored five books and makes numerous national media appearances. Eureka Ranch! also will have a booth at the Innovation Center at the show. According to Hall, they will be doing “live” matching of company needs and technologies from the Marketplace, as well as profiling different technologies from the Marketplace.

Advanced Composites in Moldmaking

Stan Farrell of Manchester, ME has spent 10 years developing a new mold material made with advanced composites. His invention—called ComposiMold—is an easy-to-use, environmentally-friendly moldmaking material. “The idea for the material initially came from my inability to find a better material for making model airplane components,” Farrell says.

According to Farrell, what makes this material unique is the user’s ability to melt and reuse it multiple times. The material is currently certified for 35 melts. “Once melted, ComposiMold is simply poured onto the original masterpiece and left to cool,” Farrell explains. “After it has cooled, the mold is ready for casting with any of the following materials: silicone, plaster, epoxy, polyurethane, polymer clay and concrete.”

Farrell believes his invention is a safe and cost-effective way to introduce students to the world of moldmaking. Doug Hall, founder of the USA National Innovation Marketplace (NIM), adds that, “ComposiMold is a specialty niche that could be a solid $1 to $5 million business.”

Business Simulation Tool

The Merwyn Business Simulation tool—from Eureka! Ranch founder Doug Hall—is a program that measures new inventions, innovations and business opportunities and is required in order to post innovations on Planet Eureka’s National Innovation Marketplace. This Business Translation Workshop, available both online or as a half-day live workshop, was developed to teach innovators how to translate their products into everyday speak. Then, they can input the information into the Business Simulation tool that gives the sales forecast.

The user completes a 33-question questionnaire that requires less than 100 inputs. It has three parts: the first part asks the user to define the innovation, the second requests sales forecast information, and the third wants miscellaneous data and details that weren’t included in the first two sections.

Then the Merwyn Research Team creates a four-page Merwyn Business Simulation Report that details everything that buyers need to know, including what the invention is, what stage of development the invention is in, what stage of proprietary protection it is in, etc.