All right name here.

Yeah right.

I saw OK.

Right right.

I see you see the it was a gust

right now.

First with you.
Very well before your daughter.

Yeah OK everybody.

Weary

we're OK good to hear but

as you hear about the fact that
something is there something in one of

their hearts was it was really it

was like I guess the front
that's the world.

You got to fill in the seats right
here we've got an intimate gathering

All right cool.

OK.
Back here yes right.

Yes.

That's good that's really good.

Yeah like you really like the invention
studio Yeah I thought OK good.

We'll talk about that too.

Don't forget next.

Thank you for your wife's name here.

And while you're here.

Thanks

pieces coming out of my way if you
could put your girl over twenty.

Yes or right here.

Here comes the competition.

What would you describe
it to people who haven't

seen elaborate

care.

OK here.

OK you're

interested OK next or yes

there are many

really majors.

How are you man back.

Yes yes

I get worried here.

Yes

All

right how about the case of the get go.

What piqued your interest.

Let's get right to how we do for
you for free.

You're saying that's great.

We filed like twenty her business tax last
year and of course the winners get one for

free for you to file just great.

Which is which is like twenty
thousand dollars zero zero zero

zero zero right there provisionals are not
so expensive that writing the utility

allocation is what causes a lot because
lawyers make a lot more than engineers.

OK front research.

Good good fresh my life
that energy that's great.

OK

yeah

so you are such a graduate.

It was OK

with me.

First it's just over there.

Yes.

So for those who sort of what I think
about what we're doing is I but

but there's three fact
if you were married.

First as one of them and
ready to yes ma'am.

That's great if we women.

Yes Well you know here you feel like

you're here to line his lines up.

All right.
All

right so you're talking about this
on your own and you're like this but

check this out because
the reviews of you got it.

So good.

OK We're going to be sharing ideas.

You know throughout the fall here
as we get to know each other and

get move toward the Titian and you know
don't be afraid to share your ideas and

partner up and we've got a lot
more who also we miss him back.

Yes sir.

Yeah.

Right right right.

This sounds like a very common reason that
people come out for this thing is this.

I've had some ideas I don't
really know what to do so

will definitely try to try to answer
those questions for what's hasn't got us

yet for

some.

While some people in this room.

Ideas are looking for partners and
some people like you may be looking for

partners and the right ideas so that's
that's one of the reasons that we're

here to help you and will definitely have
a we have a whole plan for matching guest.

So don't worry about
what to carry other stuff

like mess around a little bit of
stuff that's around the electron.

Come on tell us what is one
very thing you build nice.

OK so I really go ask this guy to be
on your team because you can actually

build electrical stuff that's great.

OK if you get really certain about

industrial zines it's done
very well it's not just one

that's real design right.

And one of the finest OK ever get rid of

course I'm pro Forester I'm a third
year faculty person here and

I'm here because I really
care very deeply that you get

all the chances you ever want to be
successful in making your own idea real

OK when I was an undergraduate here ten
years ago there was not a lot of resources

for undergraduate students like
yourself who maybe had a crazy idea or

had a friend with a crazy idea
to actually make your real life.

How do you make it like
a physical version of it.

How do you like patented you need money or
something going to patent What is

that so
I'm here because I want you to have.

The knowledge and
the opportunities and the resources

to make it real class project and
you forget about it.

It's like something that you actually make
into a real product that people can buy or

that actually has an impact on
the outside of Georgia Tech over here

that you walk into the store.

You see a for sale or it's helping
somebody in Africa or companies using

it and

I really feel very much like I would like

to have a very credible

something that's really really graduate.

I was always very well

after graduating started
understanding that stuff but you

know I just feel like great to have what

it takes something somebody

in this competition very

old boy

don't carry for

whatever reason they all come back and so

we're just here for you.

I

think it's because.

All right name year and
well yeah I know that you're almost

right.

More actually OK let's
play a little video for

you guys this is summarizes what's
the climax of this next six months.

OK And I hope you guys are in
next year's video all the

way.

Yes all the

right places with Mark

and measure

because we chills every time I
see it it's really very it's

your it's very yeah yeah.

So let me see if I can bring
up a few slides here to

show you guys what this is all about.

I just came from class
right here another area.

All right so
I'm not a fan of words on slide so

it's a lot of pretty pictures and
I'll be happy to answer your questions.

OK This is called the inventor
prize are it's a combination

of raise words it's a combination
of the words advent and adventure.

OK And that's what we hope you decide to
take with us this next six months or so

it is got support from the highest levels
of of Georgia Tech suppressant chorus and

a president of G P B is
Georgia Public Broadcasting Tehran.

OK so they produce the television
show that is going to be aired live.

State wide in March which
is going to have the finale

as well as video footage from
throughout the months leading up to it.

Last year fifty thousand people
watched live on T.V. and

you can vote by text message voting for
your favorites.

There's an award for
that person as well as the awards for

the winners voted on by the judges.

But as you guys go forward.

It's not just about you know whoever
gets that cash prize on stage

one thing that's really special about
the invention prize and we try to do

as well as we can is to help every single
person who wants help move forward.

OK maybe you just need patent advice or
maybe you just want to share your idea to

some customer and we can help you set
those things up through the various rounds

and and as we as we go through
preliminary round semifinal round.

You'll have a chance to
show your idea to lots and

lots of people who give you feedback that
can help you take the next step with

OK and we'll give you as much critical
feedback as we can as you prepare

we can help you find partners
we can help you find money

basically we want to give you all
the resources and the structure and

the incentive so
you can be successful with your ideas.

So this is pressure Whaley who one or
two years ago meeting meeting with

the president and of Georgia Tech
right back stage you know fill some of

the first center fills up completely one
thousand people in attendance that night

is absolutely a lecture going there and
this is for the eight finalists so

out of the four hundred students which
is about one hundred something teams and

you can be as individual or
as a team whatever you want.

There's not a lot of rules
the best ones the best a stage and

and it's just an electric atmosphere and
there.

The fans dress up like their
favorite inventors and share.

For them and there's like a roving
reporter who goes around and

interviews like you saw
on the video there.

One of our finalists.

What's the Chinese name again
the convention website.

His name escapes me at at the moment but
just just to give you one example.

So Patrick Wally Wally has gone on.

It's now working full time his invention.

It's sportswear athletic apparel that
weighs like fifteen pounds you wear it and

help train helps you train while looking
better good makes you look more muscular

as well.

This gentleman he invented a website for

people registering for these like exotic
comic book conferences and things.

So he came on stage with some
of his customers here and

they that that weekend of the finale.

He said and for those who don't
believe me that this is real.

There are five thousand people on the way
to Atlanta for the convention tomorrow and

they all use my website to sign up for
the competition.

I mean for the for the convention.

He runs yet

he created everyone's this competition
this some excuse me this convention and

it's for people like you know storm
troopers and KISS fans or whatever and

they dress up and whatever but he's create
this Web interface that not only can they.

But it is not only can they register for
the convention but

they can also use like forums and
they can sell things between themselves.

So it's sort of a social hub as well.

The fans are coming out come
out in droves as Sarah Vaden

was a sophomore at the time that she won
second place and she had an invention for

a drum and her fans came out with
drumsticks that was a lot of fun.

I mean the roving reporter will
probably do that again and

again this year the stage is amazing G.P.

has brought so
much to this to this competition.

The first year we did it.

So this is the is the fourth year that
we're going to do it the first year we did

it there was no stage or anything was
on T.V. It was just you know a couple

a couple professors with some you
know a group of about one hundred.

It's who had signed up to compete in this
and we just pushed him out on stage at

the first dinner and like a little of
the power points of the now it's a real

professional production and so we don't
we don't do anything now you know we we

try to do what we're best at which is like
doing math and then the the T.V. The T.V.

organizers do with their best day
which is producing an incredible show.

Miles O'Brien here the host
he's the he's the science and

technology correspondent for C.N.N..

So he's our host and he has a great job.

Scott Slade here on the left
is a radio personality.

He has like a morning talk show that's
listened to by hundreds of thousands

of people every day.

Greg Foster in the middle is
a venture capitalist here in Atlanta.

LAURA.

Ha ha just is a successful
entrepreneur and

a Georgia Tech graduate very successful
entrepreneur and David Kuo on the right

here is a professor of chair professor of
entrepreneurship here at Georgia Tech.

He's a biomedical engineering on
the campus here in Fessor very successful

entrepreneur in his own right.

So as you can see a sort of a distribution
of sort of a you know dynamic

on stage personality also business
experience and good questions about

you know how he thought about you know
Who's your customer who's going to how

much you can sell this thing for you don't
have business questions and then someone

like David maybe has Like bit of technical
background say well you know I'm worried

this is like is it strong enough or
you know is it the right frequency or

whatever so and they're talking

right now to this guy David Quinn who
he invented a memory flash card storage

device so when you when you're trying
to memorize something the flash cards.

There's an optimal strategy for

how often you should see the card and
what order you should see them.

And so he found some research about this
and made a device that basically tells

you which day you know Monday take these
cards and to say take these cards and

it pretty proved it with people taking
their S.A.T.'s that actually for

their score like a certain.

Percentages So it's amazing how he's
he's in grad school at Stanford.

So he did not continue with his
invention but he he grew a lot from this

experience and he's going to be able to do
other entrepreneurial things from that.

So let's see here.

I mention the text message voting it's
called the People's Choice Award and

that's live on on that night so
you'll see the bars going up for

the different the different inventors the
votes come in from all across the country.

So this this winner was Patrick Whaley
with the weight exercise shirt and

you can see his videos and things
online and surveyed him with her drum

invention was second place to give you
some idea of the scale of this thing.

It's really blown us away.

It's absolutely blown us away.

You know Ray and I thought OK we
get twenty students to come out and

put a few months days and we'll try to
help those students as well as sort of

inspire the audience while
the numbers of lowness away.

It is the largest competition
in Georgia Tech in

almost every respect number of
students number of dollars at stake.

You know statewide impact front page
of The Atlanta Journal Constitution

national N.P.R. a national C.N.N.
coverage is just unbelievable.

So we really want to be a part of this and

whether or not you end up on stage or
there and you still gain a lot of

valuable assistance OK we can give you
money to help you build a prototype.

Now we find partners we give you advice
about patenting we can help you.

Provisionally partner invention.

OK we can pay for that stuff.

So it's it's not like it's all or
nothing on this.

We want you to give it a chance.

So lots of people watching the T.V. show.

Lots of press all the press on
the Web site in the week leading

up to the competition.

We work with Georgia Tech
communications and

marketing to get you guys tons of press.

So like the students got up
at three AM I went over to.

C.B.S. and

Atlanta Live and all of the all the local
networks to do the morning shows.

So you know people get ready for
work questions T.V.

shows and then it's just great.

You're on you're on there.

You know one student had a lecture Steve
or they're driving around on the set and

everything was a lot of fun.

So the timeline something like this
it's on the website in great detail but

right now you are basically submitting
your work that you're interested and

all that does is it basically
gives your e-mail address.

So we can tell you when the accident and
let us know if you're having here or

you have no idea where you are you having
seen your idea or you write yourself and

you have your ID and you don't need
anything else in your great you can go on

this in this interest for

me to Starbucks in like ten seconds
to fill up these That's good news.

It's a fast one.

No he says he says you were
you routine was a Ranger and

other uses like what's the category of
your invention can provide very very for

free so hopefully you get all the rest

is really nothing less like a little

sausage you know just tells you

you know what our goal is now

for the over two years

you were you have an idea about how
to register for the competition.

Just three steps interesting
tend to raise and registration

is just a little bit more information
about it so we have to tell us about it.

I mean this might be like
a paragraph minus and you.

Kind of workout device that
you can test your closet.

There's a sketch of it and

it's going to these type of people
have already built a prototype.

If you need money.

You know five or five guys.

I think the deadline is
like summer sixteen.

So you tell us.

I want to build this work
imagine it's just your closet.

I think Governor need like some aluminum
and some brackets from Home Depot and

license Springs and I think it's going
to total I we don't even want to look at

that on and
you know this was twenty dollars.

This was forty dollars altogether
things like three hundred dollars.

We will give you three hundred dollars and

that very articulate is always what you
need why you need it you can just go and

say I think he found out you got to do
a little bit of work ahead of time so

you do the very

very volatile area with the one
hundred miles around works

is that everyone comes together one
night in a big hall like the class

and you'll set up on a table
with your invention and

you might have a post in my have you
actually maybe your have a website so

your laptop there maybe only goes so
far points lights.

OK maybe you got a fully functional you
know a little scooter you can drive or

whatever level you're at.

That's fine.

Bring it out and
show us how table set up so last year.

Something like sixty or
seventy tables all the inventors

are set up on their tables and judges will
come to judges our faculty at Georgia Tech

other invited guests and
they walk around saying what's up.

What he working on and

you say I got the greatest thing ever is
this work out a mission for your closet.

Haven't you ever been to work at home and
like a touch isn't so cool.

Let me show you how I got.

OK And we'll still think about your
invention in the context of the criteria

for the competition so what are those
Let me just jump over the Web site here

and we'll will let you assume
is the rate is the pizza.

So I won't try to hold back the food.

OK so the website is really great
to have you go to two thousand and

twelve competition eligibility.

You've got to be either
a current student or soon or

graduate in the last there's
information on purpose.

I've awards the competition.

OK Here's the criteria so

when the judges come up to you at the
preliminary round say where you work and

what he working on they're looking for
these things is the idea novel.

OK makes sense right to just go buy
something Wal-Mart you're showing it off

as your own or it is like a new
thing has already been done before.

OK marketability.

Will anyone ever buy this thing
that's an important right.

Hopefully people will want it.

How will you know if they want it.

When you told people about it and

they said I really wanted market
size how big is the markets.

OK So is this something that every
mom in America is going to want is

this something that three super
Georgia tech nerds who want to

stay up all night are going to
use maybe as a smaller market.

I mean sort of like nerd so I would
probably want those people passion.

OK how driven are you if you stand there
and say you know here's my invention.

Probably not going to be very big impact
on the judge as far as your passion and

maybe not so great on stage you know
we want to have some on stage persona.

OK So you bring your you know
your big personality and

your energy onstage
that's going to be great.

It's going to.

You're going to need this to
get through those difficult

conversations with the judge and
they actually tough question.

You say well you know
limit your understanding.

It's like this you know you got to
get the energy and you're focused and

last thing is how likely is
this thing going to be real.

OK if you won the show.

If you won this thing you won
the ten thousand bucks or

fifteen thousand you won the patent how
likely is your actually going to succeed.

So those are the criteria for

winning for winning this thing.

So that's the preliminary rounds.

Now the next round of
the semifinal round and

they'll probably sort of put
the preliminary rounds for everyone.

OK We've had people come
up with absolutely nothing.

They put her back on the table and
they stand there and talk to judges and

we've had people who come in with
a fully functional prototype.

So wherever you're at.

We want you to be there just talking about
your idea with judges the preliminary

rounds to be very very helpful to you
might realize it's a really silly idea.

OK And that doesn't mean that you're

like not a great inventor It just
means that idea may not be right.

OK maybe is no market for it.

Whatever we have a guy who he
had his invention was that

he would power the energy use for the
whole building based on people in the door

when they come in the building they open
the door they have to push the door.

So there's a force there he
want to harvest that energy and

power the whole building with it.

So he was very excited about this
idea he had like a drawing of itself.

I just you know he doesn't like you know
how much energy you can collect from

this main force times distance.

OK It's like work.

So how much energy to run a lifeboat.

You know some basic questions.

So he realized through the preliminary
round that he had made some mathematical

mistakes there with his use his power
calculations his energy got a bit of but

he still benefit a lot and

maybe he's really excited
about sustainability energy.

Maybe you can the crossover panels or
wind or whatever.

Anyway my point is don't shy away
from the hurdles that get you at that

time line because because you can still
gain a lot by by getting this far and

then a semi final round is instead of
a parallel presentation like that.

It's a serial presentation.

So the mentors about twenty at
this time and twenty teams or

individuals will come in.

Tell us one of the time.

We'll have a T.V.
producer there will have the judges there.

So maybe six or eight judges and
you say you know here's what I've got I've

got this doorway I made
up with you know wood and

here's my invention as you
can see amounts in there.

I can do pull ups on it works great.

Every is going to want.

I asked around people so
they pay twenty bucks for it.

I can make a five so

I can make a lot of profit based on
the number of people in this age group and

this income I think I can sell it
a million of these in the first year.

All I need is your help
to get to the next round.

You know short and sweet can probably

give you three minutes to present
your case at semi final round.

Actually some questions.

Hopefully get through.

OK the finalists are all of
the all of the semifinalists will

get provisional patents will follow for
you know cost of lawyers Silvio

right I'm sent him off in the final
round on stage is about eight seven or

eight seven or eight teams and then
after that will help you make it real.

Whatever you need do
you need office space.

Do you need money do you need partners.

Do you need advice.

Daniel Chaney he won last year he
had this invention for your guitar.

He's working with some of
the faculty industrial engineering

one is here tonight actually
working with Daniel Chaney right.

OK yeah.

Right right right.

So we have we have a couple industrial
design professors helping Daniel today to

redesign his invention
to get to the next step.

And it's a musical invention.

He's got a connection
with a band in California

soul Collective Soul is using his
invention and they are you know

if they like it then everything like
it's a slide cable for your guitar.

It's a cable and a slice of it.

I'm not a guitarist but apparently
every guitar has a slide and a cape and

this one is a combination of them that
is adjustable while you're playing so

not only is it you can often have
an invention that is a plus B.

slide plus capable but it enables
new kinds of sounds because you can

just it while you're playing so for that
it was an innovation plus and you really

really know that you want to really be
several groups of peace of what we.

OK so.

OK great.

Some of those because I'm I just
got the aromas and stunning.

OK throughout the fall.

This is info session right we'll do this
again on Thursday will be the same thing

you don't need to come if you already feel
you got all your questions answered but

in addition to this.

We're going to a lot of events this fall.

OK We call it inventor prizes school and
Love how to seminars and

coaching sessions when I did list
here on the How to summers as well.

I will have a team matchmaking one.

If you need people for a team and you have
an idea or you or the other way around.

You don't have an idea and

you want to measure with people
we will be matchmaking OK.

Besides that will have a great talk by
Laura one of the judges about how to think

like an inventor talks about patenting
another a great presentation going to have

is on a lot of students these days
are very interested in energy and

sustainability and needs for
third world countries.

Sometimes it's called design that matters.

We're going to have a speaker at least
one speaker on these type of problems.

This is a global problem challenge you
know like three billion people without

access to clean water things like this.

So they'll tell you you know here are
twenty problems that are really urgent and

if you can solve any of these at all.

You know you'll have a huge
impact on the world.

So in that way we'll kind of give you
some challenges that you might want to

work on if you don't have your own
idea are really one thing we're trying

to encourage this competition while we
accept all all types of ideas we're trying

to encourage as much diversity in the
groups you know for majors and years and

gender and types of ideas and one of the
jet one of the types of diversity it was

running versus Is this type of third
world sustainability type scenario.

So we will make those
problems available to you

while to talk about how to obtain
the resource you need how to make a pitch.

So what is a pitch three minutes.

If you're in the elevator
with Bill Gates and

by the time you get to the top floor of
the the building you've got to convince

them to give you a million bucks
what would you say to them so

Merrick first is you know one of our a
fellow organizers and he is exceptional of

this he's done a lot of pitches and
raise a lot of money in the real world and

can tell you exactly what it takes and
then we'll have these kind of coaching

sessions which is more like hey what
are you working on what are you stuck on

you know what can we help you with
you need to know how to make stuff.

OK why don't I make some stuff and
I can tell you about that or you know.

I really you know mix my managers for
the military.

I don't know how to find any military
people so we can help you do that.

Hey you know we got a competitor
from last year I mean

they were going then you're OK And
when you tell everybody.

This is coming later put you on the spot.

What was your impression of
the competition last year.

What impression of the competition
last year and thirty seconds or so I

really

want.

And has a benefit at all since that.

Great.
Wow that's really great

to hear all those wonderful.

So this is not a business
plan competition.

OK Georgia Tech has a busy playing
competition this my competition in our

opinions a lot of boring little dry you
write like a really thick lab report and

you turn it into somebody and

then like couple weeks later they
tell you if you want to know.

OK I don't like reading big documents.

So we're not going to any of that.

OK we're just going to ask
you to tell us in person.

What it's all about.

We're going to look for
your creative energy.

OK hopefully one thing you get out of this
is that you feel excited about failing.

OK this is a really important idea here.

OK here at Georgia Tech.

If you fail in a class it's bad right.

You get a B. or C.
or whatever it's embarrassing.

You don't get a degree.

OK in the I'm enterprise and
a real life like with entrepreneurship.

Failure is a good thing I
would not work with someone in

a company who had not tried and failed at
several companies before we got started

because you learn from failing you
learn so much about the mistakes you

made and and you learn how to pivot and

change your idea or take on a new partner
or ask for money earlier or whatever.

OK So when you come to us and you make
a pitch and you're like look you know I

don't know how to describe my idea or you
come a prototype it isn't work at all or

your market research is totally bogus.

You know we will tell you that we
will be we will take you seriously.

OK this is not about like coddling you
because you're like a young person

you know educationally why.

Ever we're to take you seriously.

OK if it's real.

We're going to leave.
It's real.

We have an inventor last year the idea
was so real that we said like look

how much you need to be
successful we will invest in you.

Whatever it takes and

we have people the judges were
offering to write this guy checks.

That's how real We're taking
this we can help make this

real every step of the way but that
also means you can tell you if it sucks.

OK and how to make it better and that's
an opportunity for you to improve it or

find a new idea find
a new teammate whatever.

OK it's also you know very
high profile onstage accent or

a poem services etc etc OK.

How should Wally has been one of
our most successful competitors

like I said everyone including
Daniel here gets steps forward and

maybe changes the way they
think about the world but

just as one example of one
of those successful winners.

He won the enterprise and then he went
on to win Georgia Tech business plan

competition he won the rice
business plan competition and

he won this award from growth over
the venture labs and what he's doing and

he was covered on all these T.V.
shows around the country.

What what he's going on to do
now is he's working full time

he's been out at about
a year since he graduated.

He's outfitted something like
eight collegiate football teams

with his invention which is shown here
he's wearing the shirt which has these

silicone Pads and so together
the shirt weighs about fifteen pounds.

So you can exercise and it makes you look
better the pads are placed where you'd

want them to look better like for women
they might be in a different place and

I'm just kidding it's it's for
men and women I'm not knocking

actually women really care about this and
he's got an invention that does that.

So he's he's working full time on it.

He's he's in he's you know he's
an entrepreneur he's living his dream.

He's his own boss.

He's making an impact on the world and

you know we're just real
proud that he did well.

Thompson had a chance to take it to get to
the real world through to the competition.

The other interesting story about Patrick
Wally here is he got he got shot off

campus in a robbery and

he actually used his invention to help
him recover by exercising with his

shirt on wearing his shirt all that he was
able to rebuild some of his muscle mass

from the gunshot wound by training with
us so that was a really compelling

story which is probably part of the why
he he won was like very emotional story.

So you know I don't want to hear
him talk all night want to know

why he's open it up for
questions and discussion.

What's up with you.

OK OK.

Second of all that is
never fully done right.

We had a team a week from the final
competition and they had a beer Cousy OK

that had a electric cooler in the bottom
of the peltier thermoelectric device.

OK So the idea was if you tell
getting you keep your beer cold.

Well turns out people are not willing
to pay thirty dollars for a beer Cousy

but a week before the competition we're
talking to them and I think it was Ray

said like you know these coffee shops
they've got to keep their milk cold

the milk is sitting out on these and
he's insulated thermoses all day.

So they're on top of the coffee shops
coffee shops that they love that

we definitely would pay
thirty fifty one hundred

if it was in a you know coffee urn thing
in the crib and so they changed the whole

thing they made like new versions they had
like cab work and they had all these like

interviews the coffee shop owners and
he did very very well with that.

So it's never done

this is a process you know they are
changing all the way the schedule is here.

So just to answer your question one more.

Early registration is due
by January thirteenth.

So you and your registration you've
got to describe the idea you've got so

you can just say you know I really want
to make you know a new i Phone app.

I mean just not a lot to work with
there because I want to make a Y.

Phone app for you know helping me track my
workouts and it's going to do something

special because I know where
the i Phone while I work out and

going to calculate the power output or
something.

One now maybe is something we can work
with maybe that's not exactly what you end

up presenting but

you know maybe maybe you're ninety
percent away there where you think.

I did I told him about what I
think you have stepped out of this

interest in ten and registration.

So right now we're taking
interest if you click here.

How I mean look at this
like I'm in I'm I'm a try.

Signing up right now.

What's it going to do you currently going

to the meter go up a good when you do
you do you currently have an idea.

No I don't have an idea as of now
would you like to work on a team.

Yes I would submit there
that takes like two minutes.

OK And if you say you have an idea and
you're all set.

You don't need new teammates
then it allows you to do your

intent to compete directly with that.

So this is a new idea we're trying to
share to help help do this matchmaking and

then the and then this fall.

I'm going to adventure price school which
right now we've got on here is the these

intro seminars today and

Thursday and then we'll have facilitating
the development of teams you definitely

want to come to that because this is not
just like us tending around saying Like

who needs a team we've got professionals
who are going to come in and this is their

job they are like masters of making
teams and finding out who needs what.

So we'll help you out and then Laura
Hudson is scheduled to come at ten on

October nineteenth you
don't want to miss this.

She's amazing.

I mean look at this M.B.A.
Harvard Business.

School C.E.O. of this company C.E.O.
of this company.

She is a serious
professional entrepreneur.

OK so that's a venture priced school and
then I guess the prototype registration.

OK Other questions yes

very Are you one of

the professionals with really people yeah

yeah yeah right.

All right all right well.

So we're happy to meet with you will be.

We'll be having coaching sessions as well
and where the coaching sessions have gone

in the past where we like ten
of us sit around in a circle and

you say guys you know what I'm really
thinking is you know a new kind of website

where you know it tracks
the location of the tech trolley and

every said you know would you
go to that website no no.

Yes yes yes.

And so just in this roof it's sort
of like a focus group for you and

we go around was each share what we're
working on you got to share in this

competition a lot of not a lot but a few
students that we've seen over the years.

They said like I really don't
want to tell anyone I just

want to bring it out on stage.

That's a mistake.

Guys it's really hard to get
people to support you and

to and to help you out and if you don't
tell anybody about where you're working

on you can pretty much guarantee that they
want they want to support your help so

amongst the Georgia Tech community.

You don't have to worry about the
protection of your intellectual property.

It's like we all work for
the same company.

OK if you share your ideas
with everybody in this room.

They don't lose any of
the intellectual property rights

you have to those ideas
they're still yours.

You'll be different if you made a website
and you say here's my invention.

World.

Here's how you build it.

Here's what it's good for once you do
that and we'll talk about this more and

details we go on the evidence requests you
have now but once you put that information

publicly you start a clock of one year and
then you have to file.

What's called a provisional
patent zero nine.

Not anymore.

OK We'll get we'll get into that but

we've

never had anything like this.

I mean think about how
hard it would be for

someone to hear your idea from you and
have the motivation to run off and

drop everything they're working on to
copy if we had a couple teams last

year who could have been a lot
stronger if they'd had one or

two more members with like a complimentary
skill set that doesn't mean you can't

win as an individual that doesn't mean
you've already have the right team but

when you consider what happened next.

Remember who maybe knows
how to do programming or

Tronics get this guy over here or
maybe is the business guy whatever.

What does that actually seem
a good ad to hear your team.

OK so Chris can tell you how to solve it.

All right.

Really just briefly for
several other there's about

a hundred other people who have expressed
their interest in of it that just

like me are teaming up with somebody
else to find if you remember.

So we're going to help facilitate
that process of those students who

have out years or
who have who have a particular

problem address to hear from
either one dress to help them.

Well there.

If you don't have a particular
idea you have a problem.

She one of the participants to you

that you can participate with so
it's a really want to I want to

piss off October left in
the fluff of Toria one for

a particular product or a one for four and

what you're going to get in the meanwhile
is I'm going to send out a survey e-mail

kind of like what you see when you express
your interest in damage first corrected

something to do with requests.

Just ask and contact if you have
an idea of what we're going to ask

for you to just merrily describe
the problem you're going to address for

the piece of the I want to
build a better mousetrap or

I want to do water for the people
of something very generically so

you're not disclosing too much
information so that we can share

with other people who want to join your
team and if you describe too much.

We're going to take it
upon ourselves to edit.

So we're not you're not and
then are you not providing the disclosure

that it is just a general description
of the problem you're interested in or

the need for addressing the twenty five or
so of us in a survey of contact

information and for you to address that
it to everybody that that's interest

right now we're at right to hunt for those
people who don't have an idea who just

wanted to get us into a Bruce or a this
really just you know kind of information.

What's your major if for the team that has
them that are looking to work on my SEO.

Nearer I need a business
person that will go all right.

So we're going to send that survey out and
so on a level.

We're going to do this we're going
to have people who have problems

that they've identified or
the that they want to address but

I have them around the room right now
probably about sixty or seventy and

they were going to have about another
sixty or seventy students going

around to try to want to make sure
that you were aware of that and

one of

you know

the risks just more of
a philosophical point marriage first

has the most entrepreneurial experience
of the three of us organizers and

he put it very simply when he
said the there's four major

risks to your idea of becoming
real there's the technology risk.

So you can actually make make it you know.

So if you want to like make algae in a
smokestack that like suck out all the bad

stuff you know can you actually
get them to survive in there and

hold them whatever technology.

There is the risk of the market
place are people not actually going

to buy this thing for
the price that you charge.

There's the risk of money.

So can you actually get the money from
your investors or from loans or whatever.

Can you sell it for
enough money that it's going to fly and

forth risk is the people on your team.

OK so that's what we're trying
to help you guys with here.

We'll try to help you a million rate
all the risks in this competition.

If you need money.

We'll give you money if you need market
will help you find the market and

technology will help you build stuff and
and

the and
the people going to help you team up.

Let me say a few things about the building
stuff part around the corner here

in mechanical engineering in this.

M.R. D.C. building you go down
this hall the long hall here and

take a left you got to come across
a facility called the invention studio.

OK you mention studio has about a half
a million dollars of equipment in it

that is accessible to you for
free to build stuff that is that simple.

There is a club called the makers
club which has fifty people in it.

They're all volunteers and
they run the invention studio.

They will keep it open from ten A.M.

until seven P.M. five days a week and
if you buy a piece of beer.

They'll stay late come in on
weekends the facility is open

almost twenty four hours a day because of
this we have the most exotic prototyping

equipment that money can buy We have
a laser cutter cuts plastic sheets.

We have a water jet cutter
they can cut through up and

up to an inch of steel with water.

OK We have electronics prototyping we have
three D. printing three three D. printers

three printing is incredibly expensive and
we pay for it so that it's free for me.

OK.

The only thing I ask is you
don't put your hand off and

then you're judicious with the resources.

So like you shouldn't go print
a solid block from the three D.

printer because you can buy a solid block
on the Master Card dot com for five

dollars whereas if you print a saw one
at a cost me about five hundred dollars.

So there are thirty companies that have
paid to be a part of this facility and

their logos are up in the walls and they
want to hire you guys they gave the money.

We've all the tools and
they're free for use whenever you want.

OK so I encourage you to go check that
out every Monday at six o'clock and

we double check this there were
the websites real simple invention studio.

Ga Tech Guy edu You can check it out.

It's a great website to get some
examples of recent projects on there.

The makers club calendar good.

Involved cool see about the makers
club a lot of these guys are so happy.

They've got their own system for
training you so

that you don't cut your hand off and
for staffing the facility.

Look at that any time.

Jordan second session money think
there's a time seven Friday ten to five.

It's open makers Mondays
is a general tour time and

it's every Monday at six P.M.

OK six to eight and it will take you
around show you all the equipment you can

see what's in there you know
we have everything you see and

see milling thermal forming injection
molding it's really wonderful and

then you might start thinking how can you
use the stuff to build your prototype.

OK you can see other examples of
projects you can meet other people in

there who can help you build it.

If you don't know how to build yourself.

I'm sorry but that's right.

What.

Right right right.

Is just a resource for you if you need
a business physically building but

if you've got a you know i Phone app or
something maybe you don't need.

Maybe you don't need to use
the rest of you anyway.

It's a lot of fun.
Check it out because of equipment and

their power tools question
sorry you ever do Q. and

I know it can definitely
be anything you want.

OK maybe some examples.

The winner of the first year was
the concepts chloro site bio reactor and

the idea was that they would grow
algae in the smokestack of power play.

Yes And so they could not have
a physical prototype because it would be

like the size of a building.

So they had like a scale mock up and
they just talked about how it work and

they had some calculations about work and
they had some financial

projections as well we've had Web sites.

So the Momo con is the is

the conference that this gentleman
whose name escapes me a camera for

the life of me but
he he created this convention and

the website that manages it all the
registration in the forms and everything

so that is definitely not
a physical invention.

We've had i Phone apps quite
a lot of i Phone apps.

Basically anything

anything that adds value to the world
has an impact on the world.

Yes

it was a huge market.

There's a serious Dragon Con
is like fifty thousand people

would that would be an example.

Well ask you how do you see yourself

monetizing this that maybe
isn't like Facebook right.

They don't charge for subscriptions but
they have ever Testaments.

That's a you know the freemium
so-called freemium model as well for

a lot of apps these days
where it's free for

some basic level of service that you got
to pay for like the for the full version.

You know there are you know or
maybe the advertisers.

I don't know there's lots of models for
revenue websites role here.

We're not trying to find the one
that makes the most money.

Definitely not.

No that's not the goal of the venture.

You want to tell us about Come on tell us

what would you tell us in general space
etc What problem are you working on.

OK What is the problem with paper.

Yeah yeah

reduce the amount of paper.

OK cool

right.

Great no no no no no

no that's more than OK like like Chris was

saying we're going to help you find
the people you need to be successful.

So we're going to have this
thing on October eleventh where

people will be there who know
how to make things with us.

Well take I say one thing for sure if
you don't tell anyone about your idea.

You will not be able to find someone who's
going to argue with you're going to have

to take a chance and say you know here's
why things are really big problem here.

The problem isn't whether
it's a really big deal.

Maybe I don't think
having papers all around.

My desk is a problem.

So you've got to convince them
that's a real problem and

then you've got to say would be great
if we had something to do this.

Here's here's what I was thinking and

maybe just in saying that maybe they give
you something back that you can use.

I mean they say wow I'd love to work on
that maybe that person is in this room and

they don't know that they want to work
with you because you haven't shared so

I was fine just wanted other notes and

yeah.

Right right.

Right right.

So many prizes not given research grants
but if I was a judge evaluating your idea.

I would probably ask
myself Are those gaps.

Is it just a matter of time
if given enough money and

time with those gaps to be filled in.

Or is it like they have to invent some new
kind of physics to make those gaps fill

them in other ways.

How big of a risk is that technology.

If it's straightforward no big
deal like the chorus I reactor.

All they had was a mock
up because the judges

believe that the technology could be
done given enough time and money and

they had a lot more research
questions than a few gaps.

Believe me they had some serious
serious issues with biology things but

they were able to prove to the judges
that it was real that it could be real.

So I would encourage you to go for it.

Still you know if you talk
to me talk talk a little

less.

That's right

yeah.

Chris Klaus you guys know
the class building right.

Computing Billy Crystal's is
pretty closely associated with our

with our group here and

he said I will write a check to the right
team working on the right problem.

He doesn't even know what the solution
they're working on it then he would have

to have the right.

The rights but if the team is good and
they have a working on a very important

problem like you can detect prostate
cancer and you go right to work.

That's a pretty big deal.

Because prostate cancer that the P.S.A.
test is like doesn't work at all.

That's just exam so yes I agree.

Yes You

know me so like a forum.

Yes or you public or public or
just Georgia Tech just of interest.

OK we try to make that happen.

I would like to see a forum.

I think yeah yeah

yeah I like having a forum.

Yes but what I did in person
as much as we can as well.

So these coaching sessions we have to
get e-mail about a coaching session

that is you know something in class where
there's like a teacher and like listeners.

It's like we're all just in
a big circle working together

to try to help you get to the next step.

So we try to do what you have yes.

Yeah.

So they may want to also they're working.

Yeah

interesting.

Let me ask you a few bucks and
some like this already exist.

OK one on

one challenge that you might have is
how do you get eyes to the website.

So this idea successful
if everybody's there but

it's hard to get that critical
mass initially if it's just like

a few textbooks from a few people people
going to visit one time to like a scrap.

So how do you get over that hump.

This is a challenge for new apps and

new websites like a lot of people
say I want to get out for work.

You know if you go to I
have if you go to have Y.

store there's like you know fifty workout
apps how are you going to for yourself how

you get that one downloaded result once
and I was going to free will have a free.

So you know Same with a website like how
do you get eyes there so maybe think

about that and try to how would you
overcome that maybe you would maybe you

would like to have a special arrangement
with a bookstore where there's a.

Bookmarking every book
with your website brings.

Yeah we can.

Yeah not a great

day right.

Yet if you can get a deal
like that the Great.

What's ago.

This one books.

Check it out.

Yeah.

So this raise a very
interesting point actually.

And that is you don't get discouraged

if you discover that your idea has
already been patented already.

Is it exists because surely it is not
the very best way that it could be done

like this journal retractor for open heart
surgeries the design was done in the one

nine hundred thirty S. and everybody
still use the same old one so you think.

Well it already exists
like nobody needs it.

Or do you think.

Well hey the one that already
exists cracks a lot of ribs and

causes a lot of internal bleeding.

Maybe I can fix that.

So don't get discouraged I'm sure if
you look at the patent literature

you will find a patent
very similar to your idea.

I'm sure of it.

Hopefully you're working on an important
problem and that means a lot of people

are thinking about this if you're
not working on an important problem.

Then why are you working on right.

So don't get discouraged
instead you know leverage that

like pivot on that think
about high coming about.

Yes we

had a what was a situation.

I had some students come to me and
they had an invention for

I know it was musical instruments
apparently musical instruments need to be

kept at a certain temperature when for
like optimal optimal playing and

if they get too humid or too hot or
something that mess them up and so

they want to make a case for a musical
instrument that would keep it a certain

temperature so they they looked at the
patterns and their exact idea was already

patented they came to me like I don't know
what we're going to do it already exists.

Worse yet it was not a real product.

So someone had paid to
have this patent filed and

then had never even made
it into a real product.

Well our advice you'll be don't sweat it.

OK.

Only about one percent of patents actually
become real products and times of products

are now patented all these infomercial
products like George Foreman grill.

George Foreman still three billion dollars
of those grills is the most successful

informational product in
history three billion dollars.

OK there is no patent on that grill.

OK So if your idea is not
patentable don't worry about it and

if it already is patented.

Don't worry about that either.

OK now if it already exists in the exact
same form as you can see that maybe

you know that you could go buy I want
to Wal-Mart then maybe you should ask

yourself like why am I trying to replicate
this thing as still buying one and

using that one and
the like trying different idea.

I'm working so.

Yes So what does he do.

Right.

All

right.

So if you wanted to produce and sell
something those already patented you would

normally either pay
royalties to that center or

you could buy the buy that rights for
yourself.

So I have a I have a patent and
it's license to a big company whirlpool

corporation and they make them produce
that product and they pay a small

small fraction of the profit from every
one of them back to me very small fraction

rotis are involved either not going to
get rich off or royalties the inventor

typical inventor wrote his one to one
to ten percent of top line revenue.

So for a small price and
then a friend of mine gave me a call and

said like hey I really like that idea.

We should work on that together so

we did we started working on it's ago and
we worked on it.

Basically every Saturday and
Sunday for like three years and

then we had run out of money and energy.

And I saw this advertisement in
The New York Times for an audition for

a reality T.V. show.

Yeah this is a true story.

So my buddy and I came up with this
little skit for the audition and

we drove down to New York City and
we auditioned.

OK So this is the audition.

OK I got this like four
years ago this next

coming with your misfortune
my being here today.

Mom asked me this year it's only
home base that has this and

I want to write

my

whole career first part of
this is this is great for

us and I can deal with that
while sitting in chat and

share a passion and I hear you.

All right we have now left.

We have one National Geographic for
fuel story.

Right.

OK So these are got a little
bike moving lightly and long.

I mean the muscle should you.

Yeah you know you've got that and
you know all the traffic laws.

Here you're right there.

Yeah I do it because you
have a white car for

best.

Yes I see.

Yes yes they've got to get away with it.

Yes yes just don't do it in the alley.

And I think it's dangerous to yeah

yeah yeah yeah.

So basically this was this was
the beginning of a summer long adventure.

We went out to L.A. and we competed on
this reality show for a million dollar

grand prize against five others and
we didn't we didn't win but it helped us

launch the product you know with the
the publicity from the television shows

way way way more valuable than the money
they gave us and everything like that.

Absolutely right.

Right right

right.

So we made mistakes in the past and we
hopefully can get the advice and resources

and things so that you have a chance that
we did that you know there are ventures.

But sometimes the best way is
learn is by making mistakes.

So you have a chance to
lead to other questions.

Yes absolutely.

So this is right now he's

with us here.

So it's in my

cell phone so it's very

interesting.
I want to check out a professor here or

second thoughts on the idea I had
a great great yourself or very much.

I'll see what you think.

Yeah yeah yeah I would
think it's actually cool.

You guys want to maybe break up and
just hang out.

Formally Absolutely.

OK With one more that
will break up just like

YES YES YES

YES YES YES YES YES YES

fly like I'd like to

see you back if you even like

my life in the future we met you.

Yes yes

yes yes there's something novel
about the vehicle itself.

You know where

there are existing lines.

That's what I was there.

But we also know that for

less really there's a good like shoot
around like a machine that little boy

passed away this year so it sounds cool.

I would focus on that that what it
is that vehicle thing the G.P.S.

in the networking all that like a camera.

I know that's seems like

it's not a big deal just slap
that stuff on the vehicle itself.

Like if you said you know this is going
to he was like impressed nitrogen and

it's going to be the most efficient
flying robot ever that be great

something that something that

is innovative in some sense right now I'm
not hearing a lot of innovation because I

think I'm just being frank I think there
are you know like I have like very much.

Helicopter with the chemistry just right.

But if there was like a golf ball thing
that actually had the capability.

Still here's five of them on the table and
they're going to locate themselves and

report about the very powerful.

OK one

that's just like

you know how that works for
you ready to go right.

Just like

you get there really

really really

really really really really

historically only about half of the people
who've done the intent to compete don't

want to register and we're trying to
make sure that is the highest person.

And part of the reason we think people
have it on the register is they don't have

the right team or the right idea.

That's what it is management is never any
allegation this is all extracurricular

right like if you decide you want to go
down where you want to go in three months

after you've got some money and
some help bail out then that's fine.

Course.

So there's never any
obligation to want this.

Right now great here.

OK cool.

So let's break governing come out
hang out have some pizza meet each

other whatever you want to do.