For many students, the allure of building your very own solution to a universal problem is very compelling. However, do you feel like everywhere you turn someone tells you why it won’t work! The knowledge economy is drenched with the idea that this ‘new economy’ only involves ‘technology people’. But that is not true. Fundamentally the knowledge economy is about smart interactive products. So, if you feel your product can create ‘new or disruptive outputs or new directions/solutions for existing industries’ (Bane, 2010), go for it.
All very well for me to say – but ‘How’ I hear you ask? What you need is someone who will manage your idea from early stage to execution. Consider the following:
Quirky is a new type of socially developed product company founded with the vision of making invention accessible. Quirky’s community members, inventors and product “influencers,” ultimately share its financial success with them.
People from around the world use Edison Nation to get their innovations in front of retailers and manufacturers, to store and perfect their ingenious ideas, keep up with inventive friends, and learn what it takes to create and introduce a successful product into the market.
And while I’m here…think about getting the money to do this….think about crowdfunding (see resources page). For example, www.kickstarter.com.
Remember, even if your ‘current’ idea does not work, don’t lose faith. Knowledge and ideas can be your ‘Unique Selling Point’ or ‘self-generating technology’. Your ultimate ‘non-scarce’ factor of production!
Welcome to the Idea-Depot. As you can see, I hope this website explains exactly what we are trying to achieve by running a competition for student entrepreneurs. This is a portal where a student can comfortably make their mistakes, if necessary. It is an opportunity to apply what is being taught in the classroom to real world opportunities. This blog will be used to update users of Idea-Depot of upcoming events, ideas, resources and other blogs. I hope you take this journey with us.