Innovate Product Design is very excited to announce the launch of our free app, the InventionCalculator™!
The InventionCalculator™ is a first-of-its-kind educational tool to help the individual innovator, aspiring inventor or entrepreneur understand the global market potential and financial implications when exploring the different routes to take a new product idea to market.
The idea was designed by our in-house design team and conceived by Alastair Swanwick, owner and CEO of Innovate Product Design, after years of despairing over the lack of understanding people have of developing new inventions.
The InventionCalculator™ can calculate the profit an inventor may receive by inputting the demographics of potential consumers and the price that the consumer would pay for the product. The calculator then uses a formula to calculate the estimated manufacturing cost and therefore the gross profit, then demonstrating how this varies dependant on the choice of business model or route to market that the inventor chooses to adopt.
Alternatively you can use the InventionCalculator™ on the Innovate website here