2012 Year in Review: InventionHome Success

As 2012 came to an end, the country anxiously awaited the outcome of the dreaded “fiscal cliff” negotiations in Washington. With much at stake, many breathed a sigh of relief when congress finally reached an agreement in the 11th hour. The following day, the Dow Jones Industrial Average soared over 300 points on news of the agreement. As the economy continues to improve, 2013 is shaping up to be a great year for inventing and we are very excited and optimistic about the future.

Reflecting on InventionHome’s accomplishments in 2012…

2012 proved to be a great year as we continued to drive more successful opportunities to help inventors and the industry. Below is an overview of some of our accomplishments over the past 12 months.

We continued to make great strides towards our vision of connecting the world’s innovators with U.S. companies.

Network Membership:
In addition to maintaining our existing network of thousands of companies, we added hundreds of additional companies to our network. We also continued to help companies automate their process of managing product submissions through our turnkey submission management system. Our system is currently being used by a wide range of companies across many categories.

Successful Marketing Agreements:
During 2012, InventionHome was able to drive serious interest and due diligence reviews on hundreds of products while finalizing marketing agreements for dozens of our client’s inventions (with 200+ still in review). See more product success

Customer Satisfaction:
Our continued focus on delivering high quality services and support brought about many improvements in our process and how we communicate to our customers. As a result, we ended the year with a 98% customer satisfaction rating and a long list of testimonials (View Feedback).

2nd Annual DRTV Product Summit:
We hosted our 2nd Annual DRTV Product Summit where we brought six leading “As Seen On TV” companies to Robert Morris University in Pittsburgh, PA to meet with 24 aspiring inventors to pitch their products. Inventors were invited to submit their products for a chance to be selected to attend; each inventor selected was given ten minutes with each of the six companies to pitch their product (60 minutes total). The six companies who attended represented these brands:

View the 2012 Product Summit video
We will be announcing the date of the 2013 DRTV Product Summit very soon.

National Product Hunts:
We assisted with managing “product hunts” for major companies such as Rubbermaid, Lifetime Brands, Irwin Tools and Crown Bolt.

QVC Sprouts Launch:
InventionHome helped QVC launch their newly created “Sprouts” program at the 2012 Housewares Show, in the InventionHome Inventor’s Corner area.

Tradeshow Sponsorships:
InventionHome sponsored inventor areas at numerous national tradeshows, bringing great opportunity and exposure to inventors and providing companies the opportunity to see the latest innovation from the independent inventor in one central location. Shows included: PGA Merchandise Show, National Hardware Show, Response Expo, International Home and Housewares Show.

Launch of AfterShow Presentation:
Following several national tradeshows, InventionHome teamed up with these tradeshows to develop and offer the first-ever product presentation called the “AfterShow” presentation where companies both attending and exhibiting at the shows could peruse a consolidated presentation of the inventions exhibited at the shows. Each tradeshow shares access to the presentation with the thousands of corporate exhibitors and attendees of their respective shows thus creating tremendous opportunity for InventionHome clients.

“Open Innovation” Seminar:
Our president, Russell Williams, delivered an informative presentation on the emerging shift of companies looking to independent inventors for innovation at INDA’s Rise Conference in Baltimore, MD. Attendees included DOW Chemical, S.C. Johnson, Owens Corning, and many other market leaders.

InventionHome President re-elected to the board of the United Inventors Association:
Russell Williams was re-elected to serve a second term on the UIA Board of Directors, which is dedicated to inventor education and support.