Monday, July 14, 2014

Incubating gadgets

Ideas, ideas--"creative" ideas are easy, which ones are worth developing is hard. But therein lie the profits.

Ruth Simon, WSJ July 3, 2014, writes about a company called Quirky, which gives ideas a look-see for possibilities.

Quirky is based in NY and has been around for five years. It tries to get "winning" ideas to market in 120 days--calling on its 500,000 members for input.

Check out Quirky.com for 111 products that have been developed.

It gets about 3,000 ideas each week. This gets whittled to a dozen or so. Of that, 3-5 are pursued.

Have an idea? Well, you stand to get 4% of the profits if it gets manufactured. Also--community members used to get a check if a product they voted positively on made it. Now that is not the case.

They are quirky all right.

They say they are inventing their procedures, too.

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