FOR IP PROFESSIONALS

The Byron Hub - The First Step for Aussie Innovators

4 Dec 2013

"Coming up with the idea is the easy part, turning it into a commercial success is the real challenge"

This was the key message at the inaugural Innovation Pipeline forum recently held in Byron Bay. Led by one of Australia's most successful inventors, Ric Richardson, a panel explained to new inventors the full process of developing an invention.

After his publicity via the ABC's Australian Story, and successful enforcement of his patent against infringement by Microsoft, Ric felt it his role to give back to the community.  The forum sought to help people with great ideas and explain that the invention is just the first step.

Ric assembled a panel with expertise in all aspects of the invention and commercialisation journey. Peter Davison (seed investor and one of the advisors to PayPal); Andrew Stead (Director of investment group Sydney Angels), Doron BenMeir (CEO of Commercialisation Australia) and Phil Spann (Assistant General Manager of Patents, IP Australia) were all on hand to provide their knowledge and key tips to succeed.

The ultimate goal, in Ric's opinion, is to get a trade sale. The panel outlined the process from start to finish, stressing the importance of protecting the product and establishing a team to drive the invention through the various stages of commercialisation.

Most inventors are unsure how to take the next step and who to ask for advice. Ric has established The Byron Hub - a subscriber-only online forum where inventors can discuss how to progress to the end goal. Whilst the process of taking an invention to market is never straight forward, Ric's vision for the hub is that it will eventually link innovators to investors, marketers, and other groups that can assist with progressing an invention. For more information see Ric Richardson’s blog.

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Last Updated: 13/12/2013

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