In response to InventionHome’s first-ever DRTV Product Summit (September 28th, 2011 in Pittsburgh, PA), our marketing team has kept busy fielding questions and negotiating deals on several Summit products.
Remember, the one-day Product Summit was held on the campus of Robert Morris University, and it brought together promising inventors and six (6) major players in the direct-response (“as seen on TV”) industry. Twenty-four (24) inventors were invited to attend the event, and each inventor received 10-minute private meetings with each of the six companies in attendance.
Summit Success Update
The event proved to be a great way to bring inventors and companies together with positive results across the board. Some inventions received instantaneous interest and praise from several of the companies in attendance. Other inventions required a bit more time and consideration before companies could move forward.
Here’s the breakdown of the results so far:
- 23 products in total were presented at the summit.
- 21 products garnered enough interest for one or more of the companies to consider further after the show.
- 10 of those 21 products escalated to in-depth, due-diligence by one or more of the companies, meaning that the company put the product through extensive market analysis.
Out of the 10 products that received reviews, the results thus far are:
- 1 License Agreement
- 2 Executed Term Sheets
- 1 Product Presented to and Accepted by QVC
- 1 Distribution Deal Pending
But That’s Not All!
We are also thrilled to report that an additional license agreement was executed for a product submitted to the DRTV Product Summit that was not selected, but was later listed on InventionHome’s MatchProduct.com website and thus was presented to the 6 DRTV companies who attended the summit.
Based on the overall success of our inaugural DRTV Product Summit, we are now making plans for another one to be held sometime in early 2012. Stay tuned for more details!