FAQ for Solution Seekers
Q: How much money should a Seeker Award?
A: Four things to consider when deciding on an Award Amount:
- Higher amounts attract the best experts
- How much is a great solution worth to your company?
- How much would it cost to solve your challenge in-house?
- For a theoretical solution, Award amounts are usually between
$20,000 and $100,000, with the average being $50,000
We have seen many Challenges and Award amounts that work, and are happy to work with you to decide an amount for a specific challenge.
Q: What makes you think you can solve problems that our company has been working on for years?
A: We believe that:
Q: Can the Seeker talk with the Problem Solvers?
- Our team members may also have spent years working and researching in this area.
- Such a problem may have been solved somewhere else in the world.
- Our "process" of having several teams made up of diverse experts, each led by a world-class facilitator, is very effective.
A: The Client remains anonymous throughout the solving process. It is common for Problem Solvers to email questions via IdeaConnection, to the Seeker, and for the Seeker to reply to these questions.
Q: Can the Client hire a Problem Solver?
A: Yes. After a Challenge has been Accepted, a Client may offer to hire a Problem Solver. This does happen. A finder's fee is applicable.
Q: Can IdeaConnection deliver a Proof of Concept?
A: Yes. IdeaConnection is happy to have Problem Solvers, or others, provide proof of concept, do lab work, or make prototypes. Such work will be done after the initial solution has been Awarded, and must be paid for in advance.
Q: The Seeker has 30 days to accept or reject the Solution(s) presented. Can this time limit be extended?
A: Yes. It can be extended for another 30 days if needed.
Q: Does IdeaConnection indemnify the Client?
A: IdeaConnection is an intermediary and does not create the solution. IdeaConnection does not grade, change, or otherwise analyze the solution. IdeaConnection delivers confidential theoretical solutions at a cost determined by the client. Clients benefit by speeding innovation and gaining the competitive advantage of being first to market. Clients accept solutions on a speculative basis and for these reasons, we do not indemnify our solution teams, nor offer refunds.
Please note: The document that the Problem Solvers sign gives you injunctive rights against them, which may be helpful if there is a problem.
Q: The Solution is of value to us but we don't need to transfer the IP. Can we make a partial payment?
A: Yes, this happens on occasion. Reading the solution is of value to the Seeker and has helped them move forward in their thinking, but there is no need to transfer the IP so the Seeker may offer to make a partial payment.