Louis Foreman, the producer of the Emmy Award winning PBS television show Everyday Edisons and the publisher of Inventors Digest, announced in April 2011 that he was launching of a $25 million Innovation Fund. Phase 1 of the search for inventions for the Fund to invest in was completed in mid-June 2011. Phase 2 of the search for inventions and ideas has just begun and will run through Monday, September 12th, 2011.
“The Fund is off to a great start and we have received some very innovative technologies as part of the first wave,” Foreman said. “I am amazed at the creativity and ingenuity. It just reinforces our original premise that everyone has a great idea, but most people don’t follow through. The Fund has become a catalyst to submit these ideas and see if they have commercial viability.” The proceeds of the Fund which will be invested by Edison Nation to bring innovations to market. Inventors who have their inventions or ideas selected will share in any profits with Edison Nation.
Louis Foreman at Inventors HOF Induction May 4, 2011
Louis Foreman, the producer of the Emmy Award winning PBS television show Everyday Edisons, as well as the CEO of the design firm Enventys and publisher of Inventors Digest, recently announced the launching of a $25 million Innovation Fund, the proceeds of which will be used to bring innovations to market. In an interview with Foreman (see below) he explained to me that he is looking for inventions and ideas for all kinds of products, and not just the consumer products that Everyday Edisons has become known for. Foreman explains that medical devices, military and law enforcement technology, social networking innovations and even software are all desirable ideas/innovations for the Innovation Fund.
To help what might be the best ideas and inventions percolate to the top Foreman has created what he refers to as a “Patent Attorney Referral Program.” This program is designed to benefit patent attorneys and patent agents whose clients submit innovative ideas and concepts. This isn’t one of those unethical referral programs though, so no worries there. If a client of a patent attorney or patent agent is selected and accepts the offer of assistance from the Innovation Fund then the patent attorney or patent agent representing that inventor will be retained by the Innovation Fund to provide the legal services required to pursue patent rights.
Yesterday from the floor of the Senate, while debating whether the Senate should pass patent reform bill S. 23, Senator Amy Klobuchar (D-MN) cited a letter from Louis Foreman in support of patent reform, which was entered into the record without objection. The name Louis Foreman is well known to those in the inventor community. Foreman is the publisher of Inventors Digest, the Executive Producer of Everyday Edisons, an inventor himself and a serial entrepreneur.
Foreman, who supports patent reform efforts generally and S. 23 specifically, started his first business as a sophomore in college twenty years ago. He has successfully started 8 business in that twenty year period and has been an integral part of twenty additional ventures. Foreman has ten U.S. patents and his firm, enventys, has helped develop and file for another 400 patents. This experience easily has shown Foreman, in his own words, that “the USPTO is hampered by a system that is in dire need of reform.”
Louis Foreman is the creator, executive producer and lead judge of the Emmy® award-winning PBS reality show Everyday Edisons, which features ordinary people transforming their original ideas into retail products. Foreman is also Chief Executive of Enventys, an integrated product design and engineering firm with offices in Charlotte, NC and Taiwan, as well as the publisher of Inventors Digest, the largest and oldest publication for the inventor community. He is also co-author of The Independent Inventor’s Handbook. Foreman is an inventor himself, holding 10 US patents. So it is fair to say that few people know the trials and tribulations of independent inventors better than Louis does, and Louis Foreman supports patent reform.
Earlier today, Foreman sent the letter reproduced below to Senator Patrick Leahy (D-VT), who is Chair of the Senate Judiciary Committee. It is the Senate Judiciary Committee that has pending before it S. 515 relating to patent reform. As his letter explains, Foreman supports patent reform because “leaving the current system alone is not an option, nor does it benefit anyone.” Foreman believes the pending patent reform is a “significant improvement” because, among other things, it will lower fees for micro-entities and because it will “ultimately result in a stronger patent making it easier for independent inventors and small businesses to attract start-up capital.”
Earlier this week I met with Louis Foreman, the creator, executive producer and lead judge of the Emmy® award-winning national PBS reality show, Everyday Edisons. Louis is also Chief Executive of Enventys, an integrated product design and engineering firm with offices in Charlotte, NC and Taiwan. Louis is also the publisher of Inventors Digest, the largest and oldest publication for the inventor community. I have done some writing for Inventors Digest over the past couple years, so I have known Louis for some time in a virtual, Internet sense I guess you could say. I met Louis in person for the first time when I was in Charlotte, North Carolina, taping the 10 part mini-series on innovation sponsored by the United Inventors Association. The taping was done at Louis’ headquarters in Charlotte, home to Inventors Digest, Enventys and Everyday Edisons. When I learned that he would be speaking to an inventor group in McLean, Virginia, which is in my neck of the woods in Northern Virgina, I made plans to get together with him after his presentation. Louis talked about inventing, innovation, Everyday Edisons and his new book — The Independent Inventor’s Handbook, which is a book that every inventor should read!
In honor of National Inventors Month in August, Inventors Digest magazine and partners are sponsoring the 2059 Essay Contest for middle school and high school students. IPWatchdog.com is proud to be one of the sponsors for this exciting essay contest, which asks those in ages 12 to 17 to write a 500 word (or less) essay on a technology, tool, product or service will shape our lives in the year 2059. As the contest information explains: “In 1959, the internal pacemaker, the microchip, the Barbie doll and pantyhose were invented. Each was significant in its own right. But that was so 50 years ago.” Then the assignment asks: “What will the world look like in 2059?” This should be an interesting and educational opportunity for teens, which will allow them to show their imagination and creativity in envisioning the future, and perhaps even spark an interest in Science Fiction as well. As we all know, what is science fiction today becomes science fact tomorrow, as most recently evidenced by scientists transporting matter (a la Star Trek) and feverishly working on cloaking technology (a la Star Trek and Harry Potter). There are also cool prizes, such as a laptop, the winning essay being published in Inventors Digest magazine and more!
InventBay.com a dynamic service company dedicated to helping inventors successfully bring their creative genius to market – has just concluded arrangements with the creator and the host of PBS’s Emmy Award-winning “Everyday Edisons,”to participate in the 2008 International Inventors Expo in Las Vegas. Creator Louis Foreman and Host Michael Cable will use this event to recruit inventors and their inventions for a future Everyday Edisons episode.