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This topic contains 2 replies, has 2 voices, and was last updated by Avatar of Ahsan Ahsan 4 years, 9 months ago.

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  • #6277
    Avatar of Ahsan
    Ahsan
    Member

     I travel via local transit (green!). While travelling I attend calls, listen to music. Now given the weather. I have to wear a hat to keep myself from getting sick. Handling wired/wireless headset, phone and other winter accessories gets annoying. There should be a simpler solution and we have the technology to create it. It’s a simple idea, which combines two products to create a single product. Namely a winter hat, with a Bluetooth and head phones incorporate in the hat. So when travelling, I simply put the hat on, and can use voice commands to deal with calls, and listen to music. Would I be able to apply for CYBF for such business? Of course the application would be more detailed as to what the product is and why I think it has the market. I do require information on what the cost would be and how it would be mass produced and the whole supply chain process.Where would I be able to find such information? Thanks, and any ambitious people that would like to inquire further, please post or message. thanks,munir, a

    #6353
    Avatar of Anthony
    Anthony
    Moderator

    Remember that if you feel you have a unique innovation that has a functional difference from existing products, you might qualify for a patent registration. Don’t get into too much detail with prospective investors unless you have filed a patent application, are willing to take a chance with your intellectual property, or you have already had them sign a non-disclosure agreement.If the Canadian Youth Business Foundation does grants or start-up loans, you could potentially qualify, but you would probably want to have a business plan and technical specifications prepared before you submit an application.Manufacturing can be monumentally expensive, especially at first, since a factory would typically need to be retooled to accommodate your product. Sometimes you can get a bit of a leg-up by doing a pre-sale (selling products ahead of manufacturing with an expected delivery date), but if you do this, make sure to follow through or you could be hit with a class-action lawsuit.Sometimes the way to go is to get set up with a large manufacturing and distribution partner who can take care of all the little details like negotiating with factory management and dealing with quality control.Unless you are fluent in Mandarin and have a significant start-up and travel budget, this could be really tricky to do on your own, so get some help.You could, of course, manufacture domestically, but this can be very pricey. A “Made In Canada” tag will encourage some people to overlook price differences, but, unfortunately, domestic manufacturing is seldom very competitively priced when compared with manufacturers in developing countries.If you have faith in your idea and you can get others on board, then you are halfway there.

    #6361
    Avatar of Ahsan
    Ahsan
    Member

    Yes you are right Anthony, the thought of customization required to integrate two common products did make me sit back.The cybf loan (and not grant, as I found out), wouldn’t be the best route to go through. The initial $15000, if approved, would be sufficient to make a protege of the product envisioned. As for making it feasible for mass production, and taking it to China is something out of my league and over budget.I will look into getting a patent. I am not sure what the associated cost for getting a patent is, and also what professionals would I need to consult with, in order to get a successful patent.here’s a link to a picture that gives a glimpse of what I am thinking.Smart Hat 

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