New Venture Lab: Equipping Christian Entrepreneurs

Question

I have an idea for a product that doesn't exist yet based upon internet research. It has been on my mind for some time and I keep shrugging it off but feel that God may be putting it on my mind for a reason. I would like to know of a Christian company that will work with me to create this product and possible help market it. I am very skeptical about being taken by the wrong people/company. Can you recommend someone that will help me with this?

Answer

It is possible to get the type of sponsorship you sketch out, but difficult. It all depends upon the product, the potential for it, and the potential sponsor companies. Either way, someone will risk time, capital, and other resources in an attempt to take an idea to market and whomever takes the idea, designs it, prototypes it, produces it, markets it, etc. will get most of the value, leaving little value for the person with the original idea. As an inventor, the more further the idea along that same go-to-market process, the more value you will capture. Alternatively, the less value you add to an idea, the less value you will capture. In my experience, ideas are cheap, but execution is everything and I think most potential sponsors you approach would have a similar response. I've also discovered that most ideal sponsors that have similar products serving the same target industry or customer set will often have already thought of the idea themselves and/or be hesitant to sign any kind of confidentiality agreement fearing that they will create liability or diminish their efforts with similar ideas.

Having said that, here are some helpful links to my previous Q&A posts that deal with similar questions:

• Taking An Invention to Market
• Inventor Looking for Manufacturing and Marketing Partner
• How to Negotiate a Licensing/Royalty Deal