INSIGHTS

The IoT, or Internet of Things, is everywhere in your home - including your car garage. IoT connectivity is the ability of any product or device to connect to the Internet and/or another device. This technology is shaping the frontier of new product development and continues to revolutionize the way companies interact with their customers.  While speculations vary, the market for smart home automation could be worth as much as $130 billion USD by 2025.

Commanding an estimated $90 billion of yearly sales in the US alone, the sporting goods industry holds no shortage of growth opportunities. At the same time, product developers can expect significant challenges as the market becomes increasingly saturated while also evolving at an astonishing pace.  Products that support a healthy, active lifestyle are in high demand, but in a competitive environment, it’s no longer enough to promote products based only on their excellence. Great products need great strategy that adequately integrates both the unique challenges and opportunities of the digital age.  Innovative approaches to social engagement, brand awareness, customer loyalty, and brand experience form key touchstones of this approach.

In today’s complex and increasingly competitive business environment, companies are turning to collaborative partnerships to keep up with new product demand and acquire assets that can’t always be generated in-house.  

The past decade has seen a meteoric rise in the popularity of online fundraising with the development of platforms including Indiegogo (2008), Kickstarter (2009), GoFundMe (2010), and YouCaring (2011). Various crowdfunding platforms across the globe have raised billions of dollars and helped launch ventures of all kinds, from music and art projects to devices that leverage IoT connectivity to collect and share environmental data.

Gaining funding from a venture capitalist is something many product developers and start-ups attempt all the time, and often fail.  What are venture capitalists looking for? How can you impress them enough to secure funding? The answers are fairly straightforward - but that doesn’t mean it’s going to be easy.  Investors are looking for established ideas that necessitate a great deal of preliminary work. If you’re considering approaching a venture capitalist with your idea, here’s what you need to do first.  

The IoT, or Internet of Things, provides incredible opportunity for companies to connect with their customers and build customer loyalty. With market predictions indicating increasing shifts toward artificial intelligence and the development of devices that can use data from customer experiences as a prescient marketing tool, achieving IoT connectivity is of paramount concern for companies looking to expand their market and drive growth.

In case you need a refresher, get caught up on our Young Inventors series here.

Getting a patent on your new product or service can improve time-to-market, help attract potential investors, and secure future profits through either selling or licensing the patent itself.  As new legislation forecasts significant change for US patent law in 2018, here are the most important things for potential patent owners to know, and how to go about getting a patent while minimizing risk.

As the second-leading cause of death both in the US and globally, cancer continues to be a constant, looming concern for public health worldwide.  

While advances in technology and research have seen the disease steadily decline since the early 1990’s, the American Cancer Society still estimates that an average of 1,700 Americans will die from some form of cancer every day in 2018 - over 600,000 by the end of the year.

In case you missed our last post in the Young Inventors series, get caught up here.