# Have good product idea but no business experience



## ciano6 (24 Jul 2007)

Here is the story.  Myself and my buddy have worked together for about 9 years in the Science Research field.  I am a school teacher and he is a third-level lecturer and researcher.  In our spare time, we have developed what we believe to be a very good kit which would be of use to a large number of schools.  In fact, we are definite that it would be in great demand if it took off.  Not only that, but it would have a consumable component which would need to be replaced at a small cost each year.  From our contacts, we are sure too that there is no similar product available and there is unlikely to be anyone else at the same thing at the same time.  We just don't know what to do next.
We have talked to a manufacturer, a potential supplier to schools, and our local enterprise board who it looks like would give us a feasability grant.  But what else should/can we do?  Should we be a company or partnership?  How would we get a CE Mark?  Are there any other sources of funding?  The local enterprise board will give us 5,000 of our first 10,000 spend?  We have also a rough idea of costs to us though not insurance.  Where could we find out about that?  
Any help would be gratefully accepted.  We are not business people.


----------



## CCOVICH (24 Jul 2007)

Have you carried out any formal market research that supports your belief that this would be a successful product?


----------



## ciano6 (24 Jul 2007)

Not at all CCOVICH.  Thanks for replying.  How would we go about it?  To tell you a little more, I know that in two-three years time, almost 50% of Leaving Cert Students will need this product or something similar for a mandatory experiment.  At the moment, if you were to buy a similar product from a US or UK supplier it would cost between €300 and €500 for a group of three students.  We could do it for about €20.


----------



## ang1170 (24 Jul 2007)

Some thoughts/observations:

County Enterprise Board and Enterprise Ireland would be a good starting point for advice and assistance.

Do you want to start a business based on this? If so, a good place to start is with a business plan. There are loads of templates for these: even if you never show it to anyone, preparing one will force you to think through issues (e.g. marketing, sales channels, pricing, production, finance: the list goes on).

I wouldn't let lack of business experience and skills put you off: the routine stuff can be learned, and as for the not so routine, you wouldn't be the first to start a business with no background in it. Having said that, don't try and operate in domains you know nothing about: for example, if manufacturing is involved as you say, sub-contract that out. There are mentoring schemes around that can can offer advice (contact EI and Enterprise Boards).

How will you sell? Getting revenue in is the key to sucess. Do you know how big the market is? who does the buying? how much they will spend? what's your sales/distribution channel?

Look up similar topics on this on AAM (there was one a while ago on feasability grants).

On your specific questions:

What else should you do? the key thing I'd do is some market research. One key item is competition: a mistake many start-ups make is to go after markets with no competition. If there really is none, it usually means nobody can make a living doing what you propose. More likely, the competition is not obvious or is indirect. 

Company or partnership? almost certainly a company, though don't set one up until you have to (it costs, and has certain obligations whether you trade or not). 

CE Mark: this is a small item relative to the scope of what you're doing. Manufacturers will know (those that develop their own products): talk to one of them. It can be costly though (if independent testing is required).

Yes, there are planty of sources of funding, mostly from investors of one type of another. The key thing with these is that they expect to make a return, and as it's high risk, a high one at that. You will NOT start a business on grants alone. Best source of funding by far is revenue from product or service sales. Another piece of advice: start selling something, even if it's not your end product, as soon as possible: it will generate revenue, you will learn a huge amount about your target market (maybe to the extend it tells you what it wants is product "B" instead of the product "A" you'd planned), and you'll make all sorts of contacts in doing so.

Not sure what you want to know about insurance: again, a relatively minor matter in the context of what you're asking (do you have premises sorted out, for example?).

Hope this helps.

Best of luck!


----------



## Caveat (24 Jul 2007)

I can tell you that there are a few companies offering CE compliance testing - depends where you are based - a google search should throw up a few names.

You could try contacting some of the technology/science magazines as well - they are usually quite helpful - particularly if it is suggested that you may be a future advertiser.


----------



## ang1170 (24 Jul 2007)

ciano6 said:


> Not at all CCOVICH. Thanks for replying. How would we go about it? To tell you a little more, I know that in two-three years time, almost 50% of Leaving Cert Students will need this product or something similar for a mandatory experiment. At the moment, if you were to buy a similar product from a US or UK supplier it would cost between €300 and €500 for a group of three students. We could do it for about €20.


 
Do you know how much the competitive product costs to produce? Don't confuse end-user sales price in quanity of one with the production costs of something produced in thousands.

When you say you could make it for €20, does that include the cost of manufacture, packaging and distribution? or just the raw materials? How much can you sell it for? how many can you sell?

You need to be very careful about making comparisons like this.


----------



## z103 (24 Jul 2007)

> large number of schools



Irish schools have notoriously small budgets. Have you considered selling to the UK or US instead? - especially if you can undercut the competition by so much.


----------



## ang1170 (24 Jul 2007)

That last post of mine might have sounded a little negative: didn't mean it to be, or to discourage you in any way. You imply that it's a market that will develop over the next couple of years: this is good, as growing markets are the easiest for a start-up.

By the way, another suggestion is forming some form of partnership with someone selling some (non-competing) item into your target market. Setting up sales and distribution networks is very expensive for new companies, and if you can piggy-back on someone elses, so much the better.


----------



## ciano6 (24 Jul 2007)

Thankyou  for taking the time to respond ang1170

County Enterprise Board and Enterprise Ireland would be a good starting point for advice and assistance.   *Yes we are following this lead*

Do you want to start a business based on this? If so, a good place to start is with a business plan. There are loads of templates for these: even if you never show it to anyone, preparing one will force you to think through issues (e.g. marketing, sales channels, pricing, production, finance: the list goes on).*  Yes, a small business would be ideal so business plan is a good idea*

I wouldn't let lack of business experience and skills put you off: the routine stuff can be learned, and as for the not so routine, you wouldn't be the first to start a business with no background in it. Having said that, don't try and operate in domains you know nothing about: for example, if manufacturing is involved as you say, sub-contract that out. There are mentoring schemes around that can can offer advice (contact EI and Enterprise Boards).  *Yes, we will need a mentor for the marketing or sales.  We would be fairly technical as regards design/manufacture etc.*

How will you sell? Getting revenue in is the key to sucess. Do you know how big the market is? who does the buying? how much they will spend? what's your sales/distribution channel?  *Most likely we will end up using one of the half dozen or so companies that suppy schools with Science Equipment and consumables.*

Look up similar topics on this on AAM (there was one a while ago on feasability grants). *Thanks*

On your specific questions:

What else should you do? the key thing I'd do is some market research. One key item is competition: a mistake many start-ups make is to go after markets with no competition. If there really is none, it usually means nobody can make a living doing what you propose. More likely, the competition is not obvious or is indirect. 

Company or partnership? almost certainly a company, though don't set one up until you have to (it costs, and has certain obligations whether you trade or not). *What kind of costs and obligations?  Will I see it on other AAM threads?*

CE Mark: this is a small item relative to the scope of what you're doing. Manufacturers will know (those that develop their own products): talk to one of them. It can be costly though (if independent testing is required).* Independent testing may be required as it is a low voltage electrical item.*

Yes, there are planty of sources of funding, mostly from investors of one type of another. The key thing with these is that they expect to make a return, and as it's high risk, a high one at that. You will NOT start a business on grants alone. Best source of funding by far is revenue from product or service sales. Another piece of advice: start selling something, even if it's not your end product, as soon as possible: it will generate revenue, you will learn a huge amount about your target market (maybe to the extend it tells you what it wants is product "B" instead of the product "A" you'd planned), and you'll make all sorts of contacts in doing so. *That would be feasible alright.  Would that involve becoming a company?*

Not sure what you want to know about insurance: again, a relatively minor matter in the context of what you're asking (do you have premises sorted out, for example?).*  Insurance for letting kids use our little electrical device?  (Battery powered only - not mains)*

Hope this helps.

Best of luck![/quote]


----------



## ciano6 (24 Jul 2007)

Thanks Caveat

I can tell you that there are a few companies offering CE compliance testing - depends where you are based - a google search should throw up a few names.  *It is a low voltage electrical device (battery powered).  We are in Cork.  I will google that.  *

You could try contacting some of the technology/science magazines as well - they are usually quite helpful - particularly if it is suggested that you may be a future advertiser.[/quote]  *Good idea. I have contacts in two magazines as I contribute to them.  *


----------



## ciano6 (24 Jul 2007)

ang1170 said:


> You have good ideas ANG1170.  I appreciate it.


----------



## ciano6 (24 Jul 2007)

leghorn said:


> Irish schools have notoriously small budgets. Have you considered selling to the UK or US instead? - especially if you can undercut the competition by so much.


 

This will be for a mandatory experiment.  In recent years, all schools are grant-funded to buy essential equipment for these obligatory experiments.


----------



## KalEl (24 Jul 2007)

ciano6 said:


> This will be for a mandatory experiment. In recent years, all schools are grant-funded to buy essential equipment for these obligatory experiments.


 
I'm convinced...how do I invest?!


----------



## ang1170 (24 Jul 2007)

ciano6 said:


> Thankyou for taking the time to respond ang1170


 
No problem: been there a couple of times, and I know what it's like to be faced with the kind of questions you're asking.

By the way, you say you'd like to start "a small company". Plan to start a big one (think international from day one). It'll make it easier talking to the likes of EI. Don't however take on any costs associated with this until you're ready.



ciano6 said:


> How will you sell? Getting revenue in is the key to sucess. Do you know how big the market is? who does the buying? how much they will spend? what's your sales/distribution channel? *Most likely we will end up using one of the half dozen or so companies that suppy schools with Science Equipment and consumables.*


 
My inclination would be to test market and sell direct first before you approach them. Then you can say: "we have this great product that we're selling: would you like some of the action?" rathar than "can you help us sell this, please?"



ciano6 said:


> Company or partnership? almost certainly a company, though don't set one up until you have to (it costs, and has certain obligations whether you trade or not). *What kind of costs and obligations? Will I see it on other AAM threads?*


 
Yes: many times. See also the CRO web site.



ciano6 said:


> CE Mark: this is a small item relative to the scope of what you're doing. Manufacturers will know (those that develop their own products): talk to one of them. It can be costly though (if independent testing is required).* Independent testing may be required as it is a low voltage electrical item.*


 
Having it low voltage is a huge help. You'll almosr certainly require independent testing, though. AFAIK, the actual certification is generally self-certified. Talk to one of the test houses for more details (I can't recall who we used for the thing I was involved in, but there's a few of them around). Don't forget they have a vested interest though in convincing you that you need tons of testing. They will know the process, though.



ciano6 said:


> Yes, there are planty of sources of funding, mostly from investors of one type of another. The key thing with these is that they expect to make a return, and as it's high risk, a high one at that. You will NOT start a business on grants alone. Best source of funding by far is revenue from product or service sales. Another piece of advice: start selling something, even if it's not your end product, as soon as possible: it will generate revenue, you will learn a huge amount about your target market (maybe to the extend it tells you what it wants is product "B" instead of the product "A" you'd planned), and you'll make all sorts of contacts in doing so. *That would be feasible alright. Would that involve becoming a company?*


 
To be credible, I'd say: yes.



ciano6 said:


> Not sure what you want to know about insurance: again, a relatively minor matter in the context of what you're asking (do you have premises sorted out, for example?).* Insurance for letting kids use our little electrical device? (Battery powered only - not mains)*


 
Sounds like product liability insurance. Can be very difficult to get, and may not actually be required.


----------



## ciano6 (24 Jul 2007)

KalEl said:


> I'm convinced...how do I invest?!


 
Thanks KalEI.  We really are convinced ourselves though.  Anyway, I'm off to bed.  It's my first time posting on AAM and I'm delighted with the response.


----------



## ciano6 (24 Jul 2007)

With the school insurance, I think you're right that we mightn't need any.


----------



## KalEl (25 Jul 2007)

ciano6 said:


> Thanks KalEI. We really are convinced ourselves though. Anyway, I'm off to bed. It's my first time posting on AAM and I'm delighted with the response.


 
Best of luck with the venture Cian!


----------



## homeowner (25 Jul 2007)

If you want to work through the idea to see if it has merit as a business I recommend getting a book called "The new business roadtest"

http://www.amazon.co.uk/New-Business-Road-Test-Entrepeneurs/dp/0273663569

It has been a really good help to me.


----------



## Purple (25 Jul 2007)

Hi ciano6,

Do you have a patent registered? If not then get one. This will protect your idea and make it much easier to get funding from EI. Have you talked to them about becoming one of their high potential start up's? (HPSU). This offers loads of funding and support in marketing and research.
If you are looking to sell the product internationally I would strongly recommend letting a larger player in your market manufacture the product under licence. They will have the finances to defend your product from copies (a watertight patent is bugger all use if you don't have the resources to defend it) and the network of suppliers to have to made cheaper and better than you. They will also have the design, marketing, and most importantly the distribution channels in place already. Also remember that revenue from patent royalties is tax free to the parent holder.

Good luck with the venture.
If the product is good and saleable your biggest problem will be funding to get the prototypes and packaging made and tested. Work out the cost and then double it then calculate the time to get it to market and quadruple it.


----------



## ang1170 (25 Jul 2007)

Purple said:


> Hi ciano6,
> 
> Do you have a patent registered? If not then get one. This will protect your idea and make it much easier to get funding from EI. Have you talked to them about becoming one of their high potential start up's? (HPSU). This offers loads of funding and support in marketing and research.
> If you are looking to sell the product internationally I would strongly recommend letting a larger player in your market manufacture the product under licence. They will have the finances to defend your product from copies (a watertight patent is bugger all use if you don't have the resources to defend it) and the network of suppliers to have to made cheaper and better than you. They will also have the design, marketing, and most importantly the distribution channels in place already. Also remember that revenue from patent royalties is tax free to the parent holder.
> ...


 
Funding is unlikely to be a problem for something that has proven potential.

I'd agree on using someone else to manufacture and forming partnerships for marketing and sales.

Patents are now expensive to get, and offer little practical protection against anyone determined to enter the market with a similar product (specific products such as pharma excepted). Despite this VCs (and EI) love them: if you deal with them you might have to go down that route, but I'd be slow to do it.


----------



## Purple (25 Jul 2007)

ang1170 said:


> Funding is unlikely to be a problem for something that has proven potential.


  No, but funding from EI, which is the best type you can get, could be.




ang1170 said:


> Patents are now expensive to get, and offer little practical protection against anyone determined to enter the market with a similar product (specific products such as pharma excepted). Despite this VCs (and EI) love them: if you deal with them you might have to go down that route, but I'd be slow to do it.


 I strongly disagree with this. Large distributor and manufacturer are very risk adverse when it comes to the chance of being sued. Just the threat of legal action can stop a distributor dealing with a potential competitor. We had the same problem when getting a product to market and used the same argument to keep the competition out on another product in the same industry. As the OP’s product will be sold to schools and other educational bodies it is likely that a government body will do the purchasing. They will also be easy to scare by waving a lawyer at them.
It is also a very tax efficient way of generating income.


----------



## ang1170 (25 Jul 2007)

Purple said:


> No, but funding from EI, which is the best type you can get, could be..


 
I'm not sure I understand this. If you're expectation is that all your funding will come from EI, then yes, it will be a problem. They don't do that. The only point I was making was that on the list of things to worry about, funding shouldn't be near the top: there's plenty of funding available for the right opportunity.



Purple said:


> I strongly disagree with this. Large distributor and manufacturer are very risk adverse when it comes to the chance of being sued. Just the threat of legal action can stop a distributor dealing with a potential competitor. We had the same problem when getting a product to market and used the same argument to keep the competition out on another product in the same industry. As the OP’s product will be sold to schools and other educational bodies it is likely that a government body will do the purchasing. They will also be easy to scare by waving a lawyer at them.


 
OK - point taken. I'd agree in the circumstances you describe, it would be useful OK. My own experience is more international, where trying to stop a US or Chinese company from marketing a product in competition with you on international markets by waving patents at them has little effect.

They are expensive though, and a lot of time and effort can be swallowed up in getting one.



Purple said:


> It is also a very tax efficient way of generating income.


 
Here's where I strongly disagree: patents do not generate income! Getting a patent is a costly business and will have a negative impact on your bottom line. Royalty payments from licensed technology (which may or may not be covered by patents) generates income (as do product sales which incorpotate patented technology). Personally, I'd rather spend time and effort on sales than chasing patents. 

I've seen too many cases of people (particularly from academic backgrounds) spending time, effort and cash in getting a patent thinking it's the key to a sucessful business. It's not. It can be a help OK, as in the example you describe, but it's certainly not mandatory and you need very careful evaluation before deciding whether it makes business sense or not.

I'd agree that they are a tax efficient way of collecting revenue, at least for the time being.


----------



## Purple (25 Jul 2007)

ang1170 said:


> I'm not sure I understand this. If you're expectation is that all your funding will come from EI, then yes, it will be a problem. They don't do that. The only point I was making was that on the list of things to worry about, funding shouldn't be near the top: there's plenty of funding available for the right opportunity.


 OK, point taken. But I do think that it’s important to have the cash to get through the initial phases and getting EI to buy into your idea will give you more than just funding.



ang1170 said:


> OK - point taken. I'd agree in the circumstances you describe, it would be useful OK. My own experience is more international, where trying to stop a US or Chinese company from marketing a product in competition with you on international markets by waving patents at them has little effect.


 Not if you hold a patent and licence the manufacture/ distribution of the product to a larger company. They will then spend the money protecting their product and by extension your patent. 



ang1170 said:


> Here's where I strongly disagree: patents do not generate income! Getting a patent is a costly business and will have a negative impact on your bottom line. Royalty payments from licensed technology (which may or may not be covered by patents) generates income (as do product sales which incorpotate patented technology). Personally, I'd rather spend time and effort on sales than chasing patents.
> 
> I've seen too many cases of people (particularly from academic backgrounds) spending time, effort and cash in getting a patent thinking it's the key to a sucessful business. It's not. It can be a help OK, as in the example you describe, but it's certainly not mandatory and you need very careful evaluation before deciding whether it makes business sense or not.
> 
> I'd agree that they are a tax efficient way of collecting revenue, at least for the time being.


 I agree that they are not the be-all and end-all and that they should not impede getting the product to market but I think that any start up trying to manage their sales and distribution channels in house for a product that needs high volume and low unit costs is nuts. In this context a patent gives you slightly more chance of keeping control of your product.


----------



## ang1170 (25 Jul 2007)

Can't say I'd disagree with any of that!


----------



## Purple (25 Jul 2007)

ang1170 said:


> Can't say I'd disagree with any of that!


Jasus, I found someone who agrees with me... wait 'till I tell the wife!


----------



## ciano6 (25 Jul 2007)

homeowner said:


> If you want to work through the idea to see if it has merit as a business I recommend getting a book called "The new business roadtest"
> 
> http://www.amazon.co.uk/New-Business-Road-Test-Entrepeneurs/dp/0273663569
> 
> It has been a really good help to me.


 
Thanks homeowner


----------



## ciano6 (25 Jul 2007)

Purple said:


> Hi ciano6,
> 
> Do you have a patent registered? If not then get one.
> 
> .


 
Thanks for the advice *purple*
A patent proabably won't be an option as it will be a variation on US and UK products that exist already and a simplification of equipment used in Industry.  
Your other advice is great.


----------



## Purple (25 Jul 2007)

ciano6 said:


> Thanks for the advice *purple*
> A patent proabably won't be an option as it will be a variation on US and UK products that exist already and a simplification of equipment used in Industry.
> Your other advice is great.




 So what's to stop anyone else undercutting you in year two?
If you can't protect your product then talk to a solicitor or someone in EI about how you get a manufacturer to make and distribute your product under licence without cutting you out of the loop. Also, don't rule out some sort of IP or related protection. Copy right or even trademark protection may be an option (anything that implies legal protection). It's cheaper as well.


----------



## catherined61 (25 Jul 2007)

How much would it cost you to make prototypes?


----------



## ciano6 (25 Jul 2007)

catherined61 said:


> How much would it cost you to make prototypes?


 
Less than €1000 for first 20.


----------



## ang1170 (25 Jul 2007)

ciano6 said:


> A patent proabably won't be an option as it will be a variation on US and UK products that exist already and a simplification of equipment used in Industry.


 
So where does your advantage come in?

To give yourself a shot at a market like this, you really need some element of unique Intellectual Property, or unique access to a market, or something that'll create a barrier to others following you.

I'm playing devil's advocate a bit here, but it's the kind of question investors and EI will ask.


----------



## HorseBox (26 Jul 2007)

ciano6 said:


> Not at all CCOVICH. To tell you a little more, I know that in two-three years time, almost 50% of Leaving Cert Students will need this product or something similar for a mandatory experiment. At the moment, if you were to buy a similar product from a US or UK supplier it would cost between €300 and €500 for a group of three students. We could do it for about €20.


 
Hi ciano6. 60,000 students do the leaving each year, and only a fraction of them do either Physics or Chemistry, which are the main subjects requiring experiments (if it is mandatory, the likelihood is it is specific to one subject or the other).

So at a push, probably less than 20% of LC students will do this experiment, which is 12,000. You say your product would do three students, that's 4,000 units needed. You say it could be sold for €20 - that's a total market of €80,000 (and that is provided you get 100% of the market).

Strip out your costs, and you have to wonder is this thing viable for the two of you at all?


----------



## ang1170 (26 Jul 2007)

I'd agree. 

It all depends on sales price. 

It's the same point I made before about having to be careful in  doing comparisons between the sales price of an item and the cost you think you can produce it at.


----------



## Purple (27 Jul 2007)

ang1170 said:


> I'd agree.
> 
> It all depends on sales price.
> 
> It's the same point I made before about having to be careful in  doing comparisons between the sales price of an item and the cost you think you can produce it at.



I thought about that one as well, that's why I have been asking if it can be marketed internationally.


----------



## ang1170 (27 Jul 2007)

The bottom line on this is that the OP should prepare a comprehensive business plan, which should determine if there's a business there or not.


----------



## Purple (27 Jul 2007)

ang1170 said:


> The bottom line on this is that the OP should prepare a comprehensive business plan, which should determine if there's a business there or not.



Or as Tony O'Reilly put it, "There might be a gap in the market but is there a market in the gap?"


----------



## ciano6 (27 Jul 2007)

Purple said:


> I thought about that one as well, that's why I have been asking if it can be marketed internationally.


 
No hope of marketing it internationally.  The practical will be Ireland specific, as are the internationally available ones. But not being a business person, I don't understand why a one off sale of a large amount of one product (even through a supplier) isn't a valid way of making a small amount of money?  We (a) don't want to be millionaires, (b) don't want to set up a big business that will last forever, (c) don't mind how much of our own spare time we invest in it.  If I wanted to make alot of money, I could be getting €100 an hour giving honours leaving cert maths grinds.  I get asked an average of 60 times a year for them.


----------



## ang1170 (27 Jul 2007)

There's a danger you could loose cash, which is why it's important.

Very briefly, your gross gross profit is (sales volume x unit price) - (manufacturing cost). Don't forget the manufacturing cost is the cost of the units you build, not the number you sell (you'll probably batch build, and you mightn't sell them all). You have no guarentee you'll sell any (unless you sell before you build, which is quite tricky).

Out of this gross profit has to come:

- tooling and other maufacturing setup
- product approvals
- product development: R&D, prototype build and test etc.
- sales and marketing costs
- warrenty costs
- professional fees (accountancy, legal etc.)
- insurance
- general overheads (premises, light, heat)
- etc.

That's before you pay anyone, least of all yourself.

You need to have a good idea of what all these figures are (hence the business plan). If they add up, you're in business. If they don't, you may as well flush your cash down the drain: it'll be over a lot quicker and be less painful.


----------



## Caveat (27 Jul 2007)

ciano6 said:


> No hope of marketing it internationally. The practical will be Ireland specific, as are the internationally available ones. But not being a business person, I don't understand why a one off sale of a large amount of one product (even through a supplier) isn't a valid way of making a small amount of money? We (a) don't want to be millionaires, (b) don't want to set up a big business that will last forever, (c) don't mind how much of our own spare time we invest in it. If I wanted to make alot of money, I could be getting €100 an hour giving honours leaving cert maths grinds. I get asked an average of 60 times a year for them.


 
I wouldn't have the business experience to comment as Ang1170 and Purple have, but I'm used to commercial environments and through association, know indirectly of the often protracted  development paths for new products.  No matter how confident you may feel about the product, I could almost _guarantee_ that there will be many unforeseen technical and financial hiccups - which may not always be absorbed by grants or other support.

It seems to me that for you, this venture is really a hobby which if it had a profitable aspect, would be a bonus? Which of course is fine - but you might find that you would need to invest a lot more time/money than you might have envisaged, purely to keep yourselves out of debt. 

If, as you seem to suggest, you are not in it for the long haul, this is especially relevant.

I suppose I'm just saying; be sure that you know what you are letting yourself in for.


----------



## Caveat (27 Jul 2007)

..


----------



## Caveat (28 Jul 2007)

..


----------



## ciano6 (16 Oct 2007)

Hey all who advised me a few months ago,
Just to update you, we had a meeting with our local enterprise board in July and made a little presentation.  Subsequently, we made an application and have been awarded the grant for €5000 plus the use of an 'expert' for two and a half hours.  We have also gone about making a working prototype and have the technical side of design done.  We have talked with a 'plastics fella' for production of the main body so things are moving in the right direction.  *Thanks again to all those who responded*. We didn't know what to do. We're not going to invest much more than €5000 ourselves so it won't break the bank in the end either way.  And it is fun so far.


----------



## QED (4 Sep 2008)

I just came accross this thread. Any update Ciano6?


----------



## Nicky (4 Sep 2008)

Hi all,
I've just read this thread and found it perfect with the happy end.
I am now at the same stage as *ciano6* was at the beginning and have to do everything they did:
to get patent registered or rights to sell, licence agreement with manufacture/distribution, product liability insurance and so on. 
If someone does similar, could you share your experience, please how to do that with the small pain.
Thanks in advance
Nicky


----------



## hikicker (6 Sep 2008)

Hi, I was in a similar situation a couple of years ago and have now fully developed a product which is at market and is selling really well. I used a company base in Cork called the product team who were extremely helpful and literally "held my hand " throughout the whole process. Might be worth giving them a call.


----------



## Nicky (6 Sep 2008)

I was trying search google " the product team in Cork" there is nothing


----------



## hikicker (6 Sep 2008)

www.theproductteam.com.


----------



## Nicky (7 Sep 2008)

Thank you hikicker !


----------



## Irldigi (7 Sep 2008)

Guys,

I am in the final stages of setting a business which can deal will all aspects of product development, IP, prototypes, production, etc...

PM me for further details...

D


----------

