Monday, October 1, 2012

Ideas Get Quirky

I’ve written about the growing popularity of crowdfunding using platforms like Kickstarter, but before you even get to financing you first need an irresistible idea. Creative leaders produce lots of small ideas continuously, and getting together with like-minded people is one way to spark the creative juices.

Filling a gap in the “ideas market” is Quirky.com, a place where ideas are populated by people through collaboration. Inventors pay just $10 to submit their ideas and the member community – consisting of over 270,000 – then make decisions on which products should be developed, including how they should be developed.

The best ideas are profitable, and with $92 million in funding, support from some of the biggest retailers in America, Quirky.com is a place of business – for all.

229 products have been developed so far and members share the spoils if they have contributed to the product. An example is the award-winning Pivot Power plug adaptor. The website states that the inventor of the product is Jake Zien and 855 other members. The total amount paid out for the Pivot Power is now nearly US$380,000, with nearly 340,000 units sold.

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