Lean Invention

The Problem: There is an incredibly high percentage of inventions that never make it into the market place. Of the 200,000 patents issued every year less than 5%ever make it into the marketplace. This failure rate coupled with the never ending flow of startups of which 50% fail in the first year and 90% fail after 5 years, is disastrous. The Solution:The Lean Invention process which allows the innovators and inventors to lower their risk of losing both significant finances and time invested. By being the 1). "First to Invent"utilizing collaboration and rapid prototyping, 2). "First to File" utilizing: Provisional Patent Application and common law Trademarks, and 3). "First to Market" utilizing Crowdfunding, inventors can now validate their idea with minimal expense. This process allows an inventor to either license their idea if successfully funded, consider doing a startup, or Fail Lean and move on to the next idea.

Session Category

Product Development

Session Audience

PM for Entrepreneurs

Session Leader(s)

Conley Giles

Conley is the founder of Invent it 2day a "Lean Invention" seminar for inventors and Vovation a Crowdfunding site for inventors. He is an experienced entrepreneur and inventor with over 30 years of designing, developing and bringing new products to market. As an inventor, he has patents for business processes, building components, packaging systems, and sporting goods.