The future of Detroit

Open innovation is flourishing. Innovators Warehouse may be able to help you.

Stephen Key


I recently had the pleasure of interviewing Kenny Durham , founder of Innovator’s Warehouse. Innovator’s Warehouse has pledged itself to equipping people with the tools they need to commercialize their intellectual property. In short, he’s helping inventors bring their products to the marketplace. Durham first developed the idea to create his company after observing the huge disconnect between the number of patents issued and amount of intellectual property that was ever commercialized.

“The success rate of patent holders is incredibly low – between 1% and 3% of patents ever make more money than it cost the inventor to file for the patent. I began digging for answers and formed the opinion that many common mistakes were being made and that the average patent holder didn’t have access to helpful resources. Many just didn’t have any idea where to turn,” explained Durham.



When he discovered that invention promotion firms have even less success than independent inventors, he knew he’d found a market.



“There’s been such a climate of distrust in the industry, for good reason. Many invention promotion firms admit their success rate is less than 1%! I understand why inventors are fearful to work with anyone.”


But Durham is confident that his company isn’t like the others. Innovator’s Warehouse proudly boasts a 100% satisfaction guarantee. If a client isn’t pleased with Innovator’s Warehouses services, they’ll receive all of their money back. I commend Durham for that pledge.



“There aren’t many guarantees you can rely on in the intellectual property industry,” he explained. “But this is one we choose to.”


I agree with Durham that the intellectual property industry is a hot one right now.



“I like to liken it to the California Gold Rush,” Durham said. “There’s a lot of money to be made, and a lot of people are eager to strike out, but so few actually succeed. I want to be the guy handing out shovels and picks at bottom of the river – or in our modern day case, crafting sales sheets and providing access to databases.”



The greatest asset the Innovator’s Warehouse can offer inventors is its experience, Durham admitted.



“Our intention is not to evaluate ideas. I may give my opinion and advise a client to seek counsel from other people, but I’ve tried to separate my business from objective criticism. To be honest, I’ve reviewed intellectual property I thought was totally ridiculous, only to discover that Proctor and Gamble was hotly pursuing the idea. And other ideas I’ve judged to be perfect for an industry have failed to take off. The true measure of a good or bad idea is how many products it sells at the end of the day.”



Innovator’s Warehouse offers inventors a variety of different packages at different prices. The total Warehouse package pledges to see a product through from start to finish.



“We have a game plan and we know what to expect. In my experience, companies are more welcoming to open innovation today than even four or five years ago. I recently assembled a database of potential licenses for a client; it took us less than 100 phone calls to find 60 companies willing to accept a submission of the product. Less than 5 told us “No” flat out. That’s encouraging.”



Open innovation is flourishing. Check out the Innovator’s Warehouse to see if any of their services might be right for you.

Ideas for Air Purification

Intellectual Ventures is currently looking for new technology for novel air purification systems.

Innovations may include:

1. Ways you protect yourself against potential airborne illnesses and diseases when you are in the public, whether you are on the subway or in a restaurant.

2. New concepts for air purification.
3. Novel integrated air purification systems.
4. Sensors for real-time air quality monitoring.

Submit an idea: http://www.edisonnation.com/live_product_searches/IV221

Please Rob Me...

How many of you out there are social networking guru's who can't go an hour without tweeting or facebooking or foursquaring...this sight could be an eye opener.  PleaseRobMe.com intention isn't to get you robbed or burglarized.  I do think it's an eye opener about how we communicate online. 

There has been evidence linked to social media and actual burglars who targeted there victims through these outlets.  So next time you tweet or facebook that you are on vacation...think again. 

Inventor of Frisbee has passed away at age 90

Years ago when I met my husband he used to play frisbee golf.  What we know now as the "Frisbee" was once known as the "Pluto Putter".  Kind of comical in hindsight.  Not sure if his original intentions were to throw it in a bucket or not.  Anyways, Morrison sold his rights to it back in 1957 to a company called Wham-O.  This is I-dubs shout out to Walter Morrison.  Thanks buddy.  You invented a great thing, and dogs love it too.

Everything old is new again

I just did a google search for a home phone.  We still have home phone for one simple reason...our home alarm won't work without one.  Of course we have zero working home phones and the monthly bill is starting to irritate me. I figured if we have to pay it I might as well have a working home phone.  So, back to my google search.  I'm not interested in a cordless that will eventually get broken by my 1 and 3 year old...or get lost and run out of power.  Just wondering how many of you techies out there still appreciate the good ol' fashioned wall phones.  Don't get me wrong, I love new technology, but even more, I love things of stability of things from our past.

What did you buy off TV this year?

Pillow Pets: This was the big winner. Grandma ordered the Lamb and the Frog. The Lamb was sold out so they sent the cat for free. They also sent the Lamb after the holiday which was a nice bonus.

Bendaroo's: I bought these for my 3 year old. Not so impressed. Especially having them all over my floor. They don't stick together very well either. Might be fun for older kids with more patience. They are selling 2 for $19.95. Bummer, I paid full price. I don't like to pay full price.

The Snuggie VS. The Slanket: Sleeves on a blanket? A novel idea. How come it took so long? I'm sure you all have heard the jokes and shared some laughs over these products. I would imagine both the inventor of the Slanket and the makers of the Snuggie are laughing all the way to the bank. Gary Clegg claims to have invented the Slanket in his dorm room in 1998. There wasn't enough propreitary information to even get a design patent. In 2006 the Snuggie hit TV and sales skyrocketed. Luckily, interest in the Snuggie also increased demand for the Slanket. In most cases a little competition can be a good thing. I know for a fact the IWCrew bought some Snuggies for Kids. I have neither the Slanket nor the Snuggie, but something similar my stepdaughter bought me for Christmas from Dillards. Either way, I still love it.

A consumer needs to see something at least 3-5 times before they have interest in buying something. This is why it is so important to have retail inventory to follow up infomercials. along with the As Seen on TV stuff. I actually bought the Bendaroo's at BB&B. The only thing we actually purchased from the TV ad was the Pillow Pets. What have you bought off tv? Were you happy with it?