FAQ - Frequent Answers and Questions
1. What does Market Financed Inventions do?
We bring new inventions to market.
We support independent inventors by finding buyers for their creations in a fast, simple and inexpensive way. At the same time, we allow buyers to be pioneers in acquiring unique and innovative devices before they are widely available.
We allow inventors to present their ideas, projects and finished products directly to their potential customers. All this with no up-front costs, investment or intermediaries.
We want to contribute to a better world through empowering innovation.
2. How does Market Financed Inventions work?
Independent inventors register their creations on our website to start divulging them to their potential customers or pioneers. These creations can be ideas, projects or finished products (prototypes).
Pioneers signal their Intention to Buy (pre-order) the inventions shown on the website. When there are enough intentions signaled to make the production of the devices cost-effective, pioneers are asked to confirm their interest and place an order, paying towards the actual manufacturing process and receiving the inventions within the promised Delivery Time.
The inventions start being produced ONLY when there are enough Intentions to Buy registered, making the production process viable and efficient.
This means that the sole judge of the potential of any invention is the market itself, no intermediaries or “Shark-Tank” judges involved.
3. What are the advantages of using Market Financed Inventions?
If you’re a customer:
Market Financed Inventions is a unique way of being a pioneer and getting new inventions before they reach the market, at inviting launching prices and with specific benefits offered by our inventors.
If you’re an inventor:
Market Financed Inventions helps you find market for your inventions for free.
Here you are fairly rewarded for your sales because you set the price for your inventions and keep 100% of the royalties.
If you lack the skills or means to design and prototype your inventions, we provide support in those areas, as well as in marketing, manufacturing and selling them.
Market Financed Inventions relies on a community of experts, enablers and pioneers committed to delivering your invention to the market.
4. Who uses Market Financed Inventions?
Anyone can use Market Financed Inventions, but you may be especially interested if you identify with one of these two groups of people:
You are an independent inventor. You have insatiable curiosity and a critical and constructive view of the world. You dedicate some or much of your time trying to solve problems and make technical improvements for your surroundings. You envision a more exciting future for our planet, where technology and progress serve the human race to reach its full potential.
You are a pioneer. You are curious, open-minded and always searching for something new to add to your life or business. You like to be up-to-date and support innovation and creativity. You are a first adopter, an opinion maker and you like to set trends.
5. How is Market Financed Inventions different from crowdfunding websites like Kickstarter and Indiegogo?
There are essentially three main differences in Market Financed Inventions: 1) we change the financing paradigm by connecting the inventions with its direct market. So the market finances the invention full development and delivery; 2) we support the inventor along the whole value chain, developing a complementary collaboration platform, to ensure that invention is rightly delivered; 3) the inventor don't need money or the skills required for a successful crowd funding campaign.
Market Financed Inventions introduces the concept of marketfunding instead of crowdfunding. Here, the customer states their Intention to Buy first, which means that only viable inventions will be produced with their contribution. When you, as a customer, are asked to pay for an invention, you know your money is going towards producing something that will actually be delivered. The “crowd” can only help inventors by buying their inventions. When the inventors receive the payment for their products, their ability to deliver them has already been tested by our community. It is a risk free system for the consumer.
Our system helps reduce the time and cost of launching an invention, because we believe that’s the best way of finding a product’s place in the market.
We support inventors along the whole value chain: in designing, prototyping, marketing, manufacturing and selling.
6. How can I buy an invention from Market Financed Inventions?
Select the invention you want.
Signal your Intention to Buy as many units as you’d like (you won't have to pay anything at this stage).
When enough Intentions to Buy have been signaled to cover production costs, you will be contacted by e-mail with the option to place an order and pay.
You will receive your invention at your delivery address within the Delivery Time defined.
7. Who do I contact if I have a question about my Intention to Buy or final order?
If you have a question about your Intention to Buy or order, or need to provide additional information for the delivery, contact the inventor directly from the Market Financed Inventions website. For all other questions, email us at firstname.lastname@example.org.
8. I am an inventor. How can I add my invention to the Market Financed Inventions website?
It's simple to add your Invention to our website, but we provide you with the full details below. Click here if you wish to skip the instructions and add your invention right now.
To register your invention with us, click on New Invention at the top right corner of the website and fill in all the details about your invention.
If you don't have all the data requested, you can always add it later with our help.
The most relevant information you should start with is a clear description of the features and advantages of your invention, its target users and special benefits you will offer exclusively to Market Financed Inventions’ clients.
Don’t forget to set the Estimated Price end user and the Launch Price - a special price you will offer only to Market Financed Inventions’ customers for being pioneers (first adopters).
Estimate your Sales to Launch, which is the minimum number of units you need to sell to make the production viable. Sales to Launch and Launch Price are the critical variables you need to think about to be sure you get all the funds necessary to launch your invention. We will always be available if you need support in these calculations.
We will review all the information you submitted about your invention before confirming and presenting it on the website.
Wait for our team of experts and advisors to help you on the best market strategy: put your invention to the test by directly assessing buyer’s interest. If you wish, seek patent protection before divulging your invention - our community can offer advice on this matter as well.
Promote your invention according to our proposals.
When there are more Intentions to Buy than Sales to Launch, your invention has already enough market to be produced and delivered.
To get paid, just make sure you are able to deliver your invention to all customers that converted their Intentions to Buy in orders. We will help you with the delivery logistics.
9. Will it cost me anything to display my invention on Market Financed Inventions?
Market Financed Inventions is free for everyone to join, use and share.
It’s a success-fee-based model. Several entities contribute and share the inventor’s success. We will help you define the price considering all steps in the value chain (Concept, Design, Protection, Prototyping, Marketing, Manufacturing, Distribution and Sales). Market Financed Inventions does the Marketing, Distribution and Sales, retaining only 25% of the price, in a “pay upon success” basis. No fixed fees or hourly rates.
10. I am a customer. Will it cost me anything to signal my Intention to Buy?
No. When you signal an "Intention to Buy" you are just informing the system that you are willing to buy the product. You will only be asked to pay when you receive an e-mail from us asking if you’d like to convert your Intention to Buy in an order.
11. Can I create an invention from anywhere in the world?
Market Financed Inventions is a global platform, so anyone with a PayPal account can start an Invention.
12. Will Market Financed Inventions accept any type of invention?
No. If your invention can threaten the lives of humans or animals, we won’t accept it. Check our Terms & Conditions to be aware of what we can't accept.
We also review all submissions to ensure the inventions fit our criteria and the inventors demonstrate ability to deliver them on time.
13. What do I need to do to have a successful invention?
There are many factors that contribute to a successful Invention. The most relevant is ensuring people find it useful. This is exactly the innovation of Market Financed Inventions – you will be judged by your customers only!
To help people be aware of your invention, promote it as much as you can using email, social media and your own personal contacts. Once you register your device with us, Market Financed Inventions.com allows you to share your invention’s page. We will help and guide you in the process, but your commitment in promoting your creation is essential to its success. Word of mouth is still the most powerful of marketing tools.
14. What if I prefer not to disclose details of my invention?
You don't have to reveal all the details of your product in the Description field, but keep in mind that people tend to like knowing what they are buying, especially in what concerns something new and original. If you’re worried about property violation, we advise you to disclose only enough technical information required to make your invention credible, and all the advantages and functionalities that make it desirable to potential buyers.
Although you are not required to fill in the Description field, you might want to do so to get technical advice on the market strategy that better fits your invention and the possibility of getting patent protection before disclosure in the platform, to guarantee you have exclusive rights over your invention (if not yet granted).
The detailed technical content on the Description field is valuable information which will be accessible to our team of experts only, under strict confidentiality. Market Financed Inventions will only use the information you provide to evaluate your capability to deliver. All information you share with Market Financed Inventions is treated as confidential.
Know that except for the Production Details section, all the information you submit to the platform will become public. We are also not liable to unauthorized disclosures resulting from malicious or criminal use of our website.
15. I'm afraid my invention might be copied if I disclose its details. Can I get a Non-Disclosure Agreement?
The Production Information field will not be publicly disclosed. This way, it won't be easy for anyone to copy your invention.
You are not required to fill in any confidential or detailed information in the Description field either, only enough information to make your invention credible.
You might nevertheless want to provide our team of experts with more detailed technical information to get expert advice on the market strategy that better fits your invention, as well as the possibility of getting patent protection before disclosure in the platform. This is valuable information which is for Market Financed Inventions internal use only, under strict confidentiality. Market Financed Inventions will only use the information you provide to evaluate your capability to deliver. But its always your option to do so.
Be aware that except for Product Information section, all the information that you submit to the platform will become public. We are are not liable to unauthorized disclosures resulting from malicious or criminal use of our website.
16. What does Sales to Launch mean exactly?
Sales to Launch are the minimum units of the invention that must be ordered to start production. From this point onward, the production of the invention is considered viable. When the Intentions to Buy equal the Sales to Launch, the process of manufacturing and delivering the inventions starts.
17. How should I determine my invention’s Launch Price?
Launch Price is the minimum amount of money you expect to make with the launch of your invention. In our opinion, you should consider a reasonable value for Launch Price that will not jeopardise the release of your invention.
When filling in the financial details of your invention, Market Financed Inventions will prompt an Inventor Calculator covering all variable and fixed costs, including the service’s fee, so you will be able to make the right decisions.
Let’s say you invented an innovative stackable bottle holder, allowing your potential customers to use vertical space more efficiently. Manufacturing and packaging costs are about $10 per unit for 2.000 units produced. We might suggest a Launch Price between $15-20, so you can cover concept and patent costs, as well as the Market Financed Invention’s success fee (25% of sales through the platform).
Now, let’s assume you own a patent for an automatic translation software for smartphones and your manufacturing costs are about $1 per unit for 5.000 units. In this scenario, we might suggest you set a Launch Price around $2-4, that allows you to cover concept, protection and branding costs, as well as our success fee.
For more details and different scenarios please see the Inventor Calculator.
Remember that after launching your invention you will have most set-up costs covered and an opportunity to really profit!
18. What is the difference between Launch Price and Estimated Price?
Launch Price is the price Market Financed Inventions’ customers will pay when they have the option to order the invention. It’s a lower price calculated to facilitate the launch of the invention. It’s the minimum price the product can be launched at. So it’s a clear incentive to all our customers.
The Estimated Price is the price the inventor estimates the product will reach on the market, after the launch stage.
19. What if my invention doesn't reach the Sales to Launch target?
We only charge customers if your invention gets enough Intentions to Buy to make its production viable – as defined by the inventor on the invention page.
You won’t be charged for trying! If the market has no place for your idea for now, there are no costs involved and you can save up for investing in your next invention.
20. Can I sell my invention or buy an invention in any currency?
Market Financed Inventions accepts and disburses funds in USD, CAD, EUR and GBP.
21. When does the buyer proceed with payment and final product delivery?
Following Market Financed Inventions’ full transparency compliance policy, payment won’t be recognized as revenue until the customers have received the inventions they bought. Market Financed Inventions will only pay the inventor when the customer confirms the delivery was carried out. If the delivered product is defective or does not meet the characteristics stated on the website, customers are entitled to ask for a new product or reimbursement.
22. Can I cancel my account?
You can cancel your account as long as you have not raised any money. Accounts that have raised money must remain active. Contact support@MarketFinancedInventions.com to cancel your account or delete your invention.