“There Is One Thing Stronger Than All The Armies In The World, And That Is An Idea Whose Time Has Come.”– Victor Hugo
Often people think the only way to monetize an idea is to create a business around it. And although that is one way to see your thoughts come to reality, other companies are willing to pay you for your great ideas.These businesses are looking for a fresh perspective for their product lines.
If you mind is constantly coming up with innovative solutions, there is no harm in exchanging those ideas for cash.
Can You Really Monetize Your Ideas?
When submitting your ideas to a company, you must first make sure to research thoroughly to ensure other similar ideas are not already out there. Great minds sometimes do think alike. Check out existing or pending patents, trademarks, copyrights. It might be worthy getting a patent attorney to assist to make sure you cover all jurisdictions.
Once you are sure there is nothing else that shows similarity with your bright idea, we encourage you to consult a lawyer and obtain your own patent for your ideas. Most of the companies require this before you can submit anything to their teams. Protecting your idea is important. Ideas can easily be copied by others.
Once settled, you can proceed to check out the list below on which companies are enthusiastic to receive your ideas. Note that there are other websites available on the internet that entertains ideas for the companies listed below. But these businesses just act as a middleman and take away from you potential profit.
Here are the best companies that will pay for your ideas:
Ford Motor Company is an automotive company catering to the “freedom of movement”. With well over 100 years of automotive innovations, they know a thing or 2 about transforming ideas into products. You can submit your innovations directly to them.
Another automotive company seeking sustainable technology in the movement of people. With inventions like the catalytic converter, electric starter, Onstar and airbags they are looking for the next suite of inventions and need your help. You can share your inventions with General Motors using this link.
The company focuses on producing abrasives, adhesives and tapes, films, filtration, and the likes. If you have new technology relating to electronics, office supplies, or health care, you can submit your invention to 3M in this link.
Is camping one of your interests? You probably use Coleman’s outdoor products such as lanterns, tents, or stoves. If you have other ideas that can help your outing, you can submit to Coleman using this link.
The company actively seeks solutions in the following categories: Oral, Personal, Home and Pet Care. If you are knowledgeable in quantified health and analytics, new business models, biotechnology, new delivery systems, and the likes, you may visit Colgate-Palmolive’s portal through this link.
Dorman Products, Inc.
Mainly distributing products, this company seeks for new inventors in hardware, houseware, or automotive products. You can send your ideas to Dorman Products using this link.
If your interest revolves around home and garden, hardware and home improvement, global pet care, or home and personal care appliances, this one is for you. Spectrum Brands are seeking for innovative ideas in this link.
This company’s central business units are Adhesive Technologies, Beauty Care, and Laundry and Home Care. If you have an innovative idea, Henkel has a partnership program available wherein you can submit it to this link.
Jokari Home Solutions
Here is another houseware company for you. If you are currently developing a new gadget in the kitchen, or anything that would help you organize your home, you can submit your ideas in this link.
Whether you are single or with a family, cooking is a basic need. In the process of doing so, inconveniences are basing on the available tools present. New Soda is specializing in giving consumers a more convenient way to cook. If you have a unique idea for the kitchen, you can submit it to New Soda through this link.
Coastal Pet Products
If you have some furry pets in your home, you would want the best products to help them live a little longer. Coastal Pet Products are open to inventions, and you can submit your original idea.
If you are the type of preferring coffee every morning, you might have some ideas for Starbucks. You can either give a new idea or improve on existing ones. Check out this link for more.
If you are a baker yourself or has a sweet tooth with some ideas on how to better handle chocolates, Hershey is open to hearing your thoughts. You can check out this link to submit your entries.
One of the leading food and beverage companies, PepsiCo, ventures out the technology. If you have ideas on process and equipment, product and ingredients, packaging, and materials, you can visit this link. If you have solutions other than the ones listed above, you can still submit it as well.
This company seeks for designs and technological solutions for their nutritious foods. You can submit your ideas at U-Partner Open Innovation in this link, which will allow the company to redirect your thoughts to either their wants or available competitions.
The company focuses on a food company, improving the health of its consumers. They are interested in ideas relating to marketing communications and betty crocker kitchens. To submit your ideas, you can send it through this link.
If you are an athlete or know one, you may be hearing some concerns with their clothing options. Those can be a solution to Under Armours’ upcoming product. You can submit your ideas in this link.
Here is another apparel company fit for any active community. Nike is open to either businesses or individual inventors like you that can also improve the user experience of their products. If you have something in mind, you can visit this link.
Lastly, we have New Balance. This company is also focusing on athletic footwear, apparel, and related accessories. They are open to product designs and ideas. You can visit this link for more details.
Innovation in human and animal health is what Boehringer Ingelheim is seeking. Mainly, they are interested in innovative therapies resulting in life extension or advanced prevention of humans and animals. If you are in the medical field, you can submit your ideas in this link.
An agricultural company is looking into biotechnology, synthetic chemicals, germplasm, breeding, or seed technologies. If you have the knack for this, you can see this link.
This company is another agricultural company seeking for solutions in the field. If you are into producing technologies for this specific company, you can check this link to submit your ideas to them directly.
Having a comeback in the technological scene, Nokia is seeking out inventors outside their company. If you are into the creation of gadgets, you can see this link to submit your ideas. They already have a diagram on what to expect upon evaluating your design.
Social innovation challenges are present in World Vision. If you are interested in competitions to solve varying problems in different current developing countries, you may visit this link to find out what is open.
Apart from the listed companies, here are some insights on earning money through the convenience of your mobile phones.
Earning Money Through App Ideas
Mobile phones are apparent in either entertainment or productivity. The mobile app industry is booming, creating better ways for its users in diverse fields. Earning money from your idea can be through the following:
- Sole Production – You can grab your friends who are knowledgeable in coding and create the app on your own. Sell the app wherein you are sure your target consumers are present. The return of an investment will come from the purchases.
- Free Demo – Limit the amount of time or services that the users can play around within your app. Once you grab their interest, they can proceed to avail the full functions of your app.
- Advertisement – Whether you have exclusivity in accessing the app or not, you can place ads to help you earn more.
When developing your app, you do not have to pay for everything. If you are unable to find the right amount of resources, you can search for investors to help you along the way. You can check out crowdfunding websites for patrons.
List of Companies Buying App Ideas
Here is a short list where you can sell your app once you finish developing it.
This company is one of the dominating app store — the Google Play Store. You can sell your app here and gain access to a lot of customers using the android operating system. Visit their website to submit your ideas.
Another dominating app store is the Apple Store. A lot of people are using their products, not limited to phones, precisely because of iOS. You can visit their website to inquire more about the process of doing so.
Mobile App Fund
If you do not have a stand-alone app, you can try submitting your app idea to Mobile App Fund instead. You can earn the shares in their profits as they release it to the market.
This company produced the Clash of Clans app. Having a worldwide reach, they are knowledgeable about what stays in the market. You can submit your ideas to their website.
Here is another company specializing in games. King created Candy Crush, a trending app to this day. If you think you have an excellent idea for passing boredom, you can visit their website and submit yours.
Additional Tips in Submitting Your Ideas
Selling your idea is not as easy as replying to the company’s customer feedback form. You will have to evaluate for yourself if this actually helpful in terms of reaching the goals of the consumers, including you. Make sure to focus on how beneficial it is for the company to actualize your idea. They are into finding a way to make their products sustainable on the get-go. Remember that products solve problems for consumers to have a better way of doing things at home or work.
In the submission portal, be as concise as you can on what this idea can bring to the table. Give what they only ask. Some companies ask for necessary information, while other companies require a 3D model for them to visualize the product better.
Take in mind that there are a lot of submissions seeking royalties or commissions of their ideas. You will have to be strategic where you are giving your valuable insight. Also, do understand that not everything is worth a million bucks. Your idea might go to waste if you would not allow the company to give it a try and earn it for itself.
If you still do not know what the best idea to work with, you can check with the current hurdles present in your way of doing things. Whether that is in the office or at home, there will be things that you can do a little better and time-efficient. That will be the best for the companies who are seeking for better processes of their consumers, eventually find their necessity in the consumer’s life.