New York, NY (PRWEB) October 15, 2013
The Invention Calculator was invented and designed by Alastair Swanwick at Innovate Product Design after years of despairing over the lack of understanding people have of developing a new invention. It is an educational tool to help the individual innovator understand the global market potential and financial implications when exploring the different routes to take a new product idea to market.
People can be so enthusiastic and headstrong about their new invention that they fail to properly research and consider whether a market truly exists. The Invention Calculator will enable you to decide whether your idea could potentially return a healthy profit, or even be the start of a successful million dollar business. Alastair Swanwick, CEO Innovate Product Design.
HOW IT WORKS:
The new app can calculate the profit an inventor may receive by inputting the age, gender, geographic area and the price the consumer would pay for the product. The calculator uses a formula to calculate the estimated manufacturing cost and therefore the gross profit, and then demonstrates how this varies, dependent on the different business model or route to market that the inventor chooses to apply. A video demo of the app can be viewed here.
The Invention Calculator has been designed exclusively by Innovate Product Design and has a patent pending in the US. It is free to download to any smartphone from the App Store, Google Play Store or direct from the companys website http://www.innovate-design.com/inventioncalculator
ABOUT INNOVATE PRODUCT DESIGN:
Innovate Product Design comprises award-winning design engineers, researchers, business development professionals and Intellectual Property experts, with experience in all areas of IP, product design and manufacture. With this in-house expertise, they can take ideas from paper to product, providing individual inventors with the best chance of success at market.
The Invention Calculator is an educational tool to help the individual innovator understand the global market potential and financial implications when exploring the different routes to take a new product idea to market.