by Michael Collins, CEO of Big Idea Group and author of “The Million-Dollar Idea in Everyone”

Once we decide to stage a BIG Hunt, we work with the client to put together some guidelines for the contest and to decide on a prize structure. We have learned over the years that we are more apt to receive submissions that meet the client’s needs and have a good chance of being implemented if we provide a clear set of requirements. Below are a few of the key elements we focus on:

• Function. In the Staples’ Manila File Folder Hunt, the client wanted to increase sales of this well-known office product by adding features, but the winning submission could not change the function of the manila folder (hold and organize papers), add costs to the manufacturing process, or add features that would necessitate a change in supplier. In the Bell Bicycle Accessories Hunt, the client wanted accessories that installed easily and could be added to bicycles aftermarket (not part of the bicycle manufacturing process itself). In the Deflecto Compu-Desk Organizer Hunt, the client preferred modular designs over those that required any form of installation.
• Form. Shelf-life and stability are big issues for our food and beverage clients. They typically want products that can stay on shelves for a reasonable period of time without perishing or losing flavor or quality. Acceptable fruit forms, for example, may be those that are jellied, dried, freeze-dried or frozen. Sometimes form is equally important to non-food clients. The European lingerie company wanted new bra fastener and adjustment suggestions that would be durable and machine-washable.
• Cost. Although it may be hard for inventors to really have a sense of how much a product will cost, elements like electronics, sensitive materials, tiny parts that break easily, and designs that require extreme precision can sometimes make a good idea too expensive to produce. Other times, the application of the product drives the cost criteria. In the DEMCO “Date Due” Hunt, for example, the client needed inexpensive products to help patrons remember to return their library books on time. Since the product would be given away to patrons, the cost to produce needed to be as low as possible.
• Extensions. Products that have the potential for expansion are more desirable than those that are limited to one form or function. Most of our clients want a platform—a product they can build upon. The Backyard Safari Bug Vacuum we licensed to Summit, for example, turned into a plethora of Backyard Safari products including an adventure set, flying bug catcher, talking magnifying glass, bug habitat, and more.

While it may be tempting to submit products that do not meet the specifications asked for, chances of winning a Hunt without following the guidelines are slim. When the client is asking for something in particular, we try to give it to them. This is especially important because one thing innovation contests and the traditional invention licensing process have in common is that signing the deal is just the beginning of the many steps required to get a product onto the shelves and a royalty check into your mailbox.

Since a number of people and processes get involved after we hand over the winning entry, we work with the client to set up a prize structure that compensates winners upfront in case the project later gets derailed and royalties never materialize. Where possible, we also ask clients to provide additional cash and merchandise awards to significant contributors—people who are especially creative, submit several potentially good ideas, and who put in notable efforts. We like to recognize and reward as many people as possible in each contest.