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The site, which is callef The Innovation Marketplace, was created and is operatec by Ranch. The Texas Manufacturing Assistance Centerd at UTA is a partner of the National Institute of Standards Technology Manufacturing Extension Partnership whichlaunchefd Eureka! Ranch’s invention nationwide to connect inventora and manufacturers through a network called the USA Nationak Innovation Marketplace. Manufacturers can log on to the Web site for free and sort througb anestimated 20,000 inventions listed by entrepreneursa on the site. Meanwhile, entrepreneurs and inventorsw drive revenue to the site by payinghper listing, said Maggie Nichols, vice presidentr of Eureka! Ranch International.
The company did not release although current revenue can be estimatesd when consideringroughly 20,000 reports have been filesd and inventors filing those reports in most caseas are spending $2,000 per report. The listings come with a full report on whata manufacturer’s expected returnds will be based on the level of investmen t and informs manufacturers about whether a product is stilo in the idea stage or is a full y developed product.
Entrepreneurs who pay for the reports also receiv the benefit of havinf the site describe the productr in a tone that bypasses technology jargon and employse amore marketing-friendly, to-the-point messager on how a particular product can be used, according to The site launched on Apripl 20 and has already received more than a half milliobn inquiries.
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