It’s a time of “Open Innovation” in the invention industry. Large companies don’t want to miss out on the next “Big Thing” so most will review new inventors ideas. With that said, here are some of the top categories where companies are looking for new products.
Medical products are a high-growth area for inventions, with many companies actively seeking products for licensing. Medical companies know one great idea can change the medical field.
Toys and Games
Jada Toys accepts idea submissions for new model cars, while other big toy companies seek invention ideas for everything from board, dice and card games to outdoor, recreational activities and products.
Housewares and Kitchenwares
This is a huge market with companies looking for products that enhance outdoor living, dorm room living and living with pets. This can be a great area to have a new invention idea. There are many DirectTV companies looking for these kinds of simple solutions for the home.
Tools and Hardware
Companies from the tool and hardware industry have always been very open to accepting idea submissions from inventors. The National Hardware Show is one of the top opportunities to meet with potential licensees.
There are literally hundreds of companies looking for new innovative ideas. If you or anyone you know has an invention idea and needs help getting it to these companies, please contact New Product Consulting.