During a bit of internet cruising, I came across an article entitled “5 Multi-Million Dollar Prizes for Inventors.” Sounds AWESOME doesn’t it? You can win $1 Million discovering a way to grow chicken in a test tube, $10 million for developing a long-range car battery, $20 million for putting a robot on the moon and these are just a few of a growing number of competitions focused on coming up with exciting new innovative ideas. Sound familiar? The toy and game industry has essentially been doing this for years – just on a smaller scale.
As a toy or game inventor you could make millions of dollars coming up with hot new toy and game ideas, although most inventors don’t. But a good idea licensed to the right people could make a nice chunk of money. So this idea of dangling the golden carrot in front of a pool of highly creative people is a great way to get them motivated to start thinking about new product concepts. Thus the “Wish List.” If a company wants something in particular they may make a wish list for a select group of inventors they see product from regularly. Maybe they have a slot to fill or need a couple concepts for a particular license, but the goal of a wish list is to guarantee that a company will receive lots of ideas in one particular area.