An inventor with a recently awarded patent was seeking a quick and cost-effective start-up to help create support and commercialize the concept.
Several initial meetings were held with the inventor to discuss the intellectual property followed by a thorough analysis of the market (customer needs, competition, size, obstacles, etc). Ringbolt created and managed the startup by conducting multiple, simultaneous activities including the following:
- Incorporated the company and obtained professional services
- Designed the company brand (personality, logo)
- Created the company website and content (pages, posts, video teaser)
- Identified, engaged and qualified product developers
- Wrote the company business plan, marketing program plans, and a case study of a competitor that had successfully entered the market
- Built an advisory team (regulatory, market, development)
- Created a detailed, five-year proforma forecast in Excel
- Created PowerPoint presentations and managed submissions for grant competitions and investor meetings
The action taken above led to finalist status in both The Big Launch Competition and the NC Idea SEED Grant program. The rapid development of the startup and public awareness opened doors to potential investors, enabling the inventor to accelerate the advancement of the concept toward commercialization.