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SAN FRANCISCO, CA, January 28, 2014 /24-7PressRelease/ -- Innovate Product Design has announced the release of a new application titled, The Invention Calculator. 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. It is available at no cost on the Innovate Product Design website at: www.innovate-design.com/invention-calculator/, or on mobile devices through the Apple App Store or Google Play Store.
"When working with aspiring inventors and entrepreneurs, we often find that their biggest struggle is trying to accurately project what the actual market opportunity is for their product," reports Alastair Swanwick, Founder of Innovate Product Design. He continued, "The Invention Calculator was designed to be a free resource that will help inventors not only project the market opportunity for their product, but to also better understand the impact of variables like routes to market and royalty percentages."
The Invention Calculator requires inventors to submit four different sections of information into the application related to:
- Product Price
- Potential Market Size
- Number of Sales
- Routes to Market
Once all fields have been completed, the calculator generates a potential profit figure. From there, users of the application are given the option to, but not required to, contact representatives from Innovate Product Design in the United States or United Kingdom to request additional information on protecting and commercializing an idea.
The Invention Calculator was also recently featured and demonstrated on the AOL on Tech website's Daily App Show: http://on.aol.com/video/invention-calculator-iphone-app-demo-517968673.
About Innovate Product Design:
Innovate Product Design is an international product design consultancy whose aim is to offer a cost effective one stop shop for inventors and entrepreneurs alike, providing professional invention advice, prototype design and production services to invention protection.
With offices in the UK (London & Salisbury) and the USA (San Francisco), Innovate Product Design is positioned to provide a truly professional global service known for delivering results. Our company boasts a 13 year history of dynamic growth and positive achievements, taking hundreds of amazing ideas to a lucrative market for our clients. Visits Innovate Product Design online at: http://www.innovate-design.com
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