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1. THE BEGINNING
This innovation came to life when…
We purchased an interest in a similar design.
2. WHAT & HOW
The purpose of this innovation is to…
Save space and add another furniture item to a household.
It does this by…
Transforming from an ironing board to a chair.
3. PURPOSE & BENEFITS
This innovation improves on what came before because…
By turning a space consuming item into an item of practical but not space consuming use.
The benefits to the customer/end-user include…
One item has three different uses: an ironing board, a chair and babychange (registered design held by us) — space used only for that application being used at any given time.
4. COMPETITIVE LANDSCAPE
In the past, this problem was solved by…
Having to buy three different units that took up three different spaces.
Its predecessors/competitors include…
No predecessors/competitors with the same multifunctional uses and space-saving features.
5. TARGET MARKET
This innovation is made for…
All new households, houses and apartments, motels, hotels where furbishing space is at a premium — providing three useful products in one for those small living/holiday accommodations with limited space.
6. DISTRIBUTION STRATEGY
It is available for sale through…
Prototypes are available but manufacturing has not yet started.
Our marketing strategy is to…
Sell the intellectual property or lease the patents to parties interested in making mega-millions from this unique product.
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FINE PRINT
This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.
