Have you got a burning idea for a new First Aid product, or can you improve on what’s already in First Aid kits and cabinets?
If so, you could potentially collect a $2,500 advance and 50% royalty fees if your idea makes it to market.
Edison Nation Medical, a US-based primary healthcare innovation marketplace wants your help in coming up with new First Aid product ideas. It has embarked on a global search for new devices, technologies, applications and products in a broad range of categories.
From now until September 1, innovators can submit their invention idea through a specially created and confidential open innovation portal. During this three-month long search, the most promising ideas will be taken to Edison National’s major medical partners for potential commercialization.
“We’re looking for first aid product ideas that improve upon the options already available on the market,” said aid Robert Grajewski, president of Edison Nation Medical. “We are confident that there are a lot of great ideas out there.”
Among the categories of products are:
Revenue and Royalty Share
The search is open to everyone, including members of the public, and Edison National aims to commercialize each qualified invention. Submissions will go through a confidential proprietary 8-stage process, assessed by medical market commercialization and IP experts. If a product makes it to the market, licensing royalties and revenues are shared with the inventor/s.