Published on November 14th, 2010 | by Susan Kraemer2
Green Inventions Site OnGreen to be an eBay for Inventors, Inventor Hopes
Got a great green tech idea? Here’s a chance to pitch it at a site that is designed to connect VC Investors with great ideas. Like eBay or Etsy, OnGreen has formatted the site into a kind of ready-made shopfront. Unlike eBay or etsy, the product being sold is not a physical thing, but an idea. Since it is the sale of an idea, it requires that the seller justify why the idea solves a problem.
This forces the wild and crazy inventor to think through some of hard questions that entrepreneurs face, for example:
What does your idea do?
Who would want it?
How many of these people are there?
Who else already makes something that solves this problem?
Why is yours better?
Here are some of the questions:
“What challenges or risks does the technology face for commercialization?”
“What makes the technology/business unique and have a defendable competitive advantage?” Here’s one example. You can see how the format really does force a rigorous review on the inventor/start-up.
OnGreen hopes to become the world’s largest database of green inventions, and to create funding opportunities for these through its platform. The site owners’ Blue Marble Ventures in Los Angeles and China Southern Hong Kong Investment Ltd in Shanghai appear to have been formed to invest $1.4 million in the idea.
If nothing else, the site serves a useful purpose in that it will force start-up hopefuls to think through just why their invention is just what the world needs. One of the problems with GE’s Ecoimagination Challenge that we covered here was the scarce details in the ideas.
So now’s your chance to get that brilliant idea out there and see who wants to fund it. But better hurry! The grand opening event is on Tuesday in Los Angeles!