CAPE GIRARDEAU, Mo.,
March 26, 2009 – Southeast Missouri State University faculty, business owners, and individuals who want to get inventions and innovations to market faster have one, free chance to use a new U.S. Department of Commerce program.
On April 9, the Southeast Innovation Center is holding a special Business Translation Workshop for innovators looking to accelerate communications and connections with buyers, investors, distributors and manufacturers in the United States and internationally. They also will have free access for a $2,000 research report that will establish a value for their inventions and a profit forecast for after their product is marketed.
The workshop will be held from 1-5 p.m. in the Southeast Innovation Center.
In the workshop, participants will learn how to translate their idea, invention or technology into a clear business proposition that can be understood by all potential buyers within 60 seconds. The proposition can then be evaluated using the proprietary Merwyn Business Simulation Research program and published in the National Innovation Marketplace. This is an online open innovation network created with the cooperation of the National Institute of Standards and Technology (NIST), part of the U.S. Department of Commerce.
This is the only online open innovation marketplace program that tells inventors what their ideas are worth. After April 20, Merwyn Business Simulations will cost at least $2,000 per idea submitted. Participants in this workshop will get business simulations free of charge until that date.
The National Innovation Marketplace uses two-way publishing and matching of sellers’ offerings and buyers’ requests. The Business Translation Workshop teaches participants how to create an Innovation Marketplace listing that includes a simple description of their innovation that a buyer can understand quickly and a “Merwyn Business Simulation” report that scientifically quantifies annual sales forecasts for 20 different marketing and development scenarios plus Fair Market Royalty licensing valuations.
This Business Translation Workshop will be led by Rick Prugh of Missouri Enterprise. He is recognized by the NIST Manufacturing Extension Partnership (MEP) program and Eureka! Ranch International as one of the top 10 coaches in the MEP national network certified to deliver this and their suite of other growth programs. He has helped Missouri companies launch innovations for 20 years.
Eureka! Ranch International specializes in scientific systems to create new ideas and improving innovation success rates. It is the sister company to Merwyn Research, the research and development team that developed and operates the Planet Eureka! Network that powers the National Innovation Marketplace (NIM). Client surveys indicate that Eureka! and Merwyn innovation tools have generated over $300 million in net extra sales for U.S. companies over the past 24 months. The advisory board of the NIM includes 3M, Best Buy, Kraft, Lockheed Martin, Inventors Digest, The Kauffman Foundation, United Inventors Association, and the University of Maine.
Advance workshop registration is required due to limited seating. To register, contact Glenna Ervin at (573) 651-2286.
Each person attending the workshop will receive a pass code good for one Merwyn Business Simulation research report. The pass code must be used within 14 days and is good for private research use or for public posting of a concept on the Planet Eureka! Network of USA National and International Innovation Marketplaces.