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Who Would Like to Invest In Patenting an Invention?
Rank: New-farer Joined: 3/22/2014 Posts: 50
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I invented a device, I need to patent it, but I don't have the cash to do that (I'm a broke student, so please spare me).
Legally, I can't disclose/explain the invention. KIPI's rules. All I can say is that it is meant to be used in the kitchen, and will greatly help very many African cooks.
Who's willing to help me pay the patenting fees for this device?
I don't need to say that we'll sign an agreement for you to get a portion of any profits made from the invention, do I? I do? Well, we will sign an agreement for you to get a portion of any profits made. There, I've said it.
Anyone willing to invest in African solutions for African problems, do get in touch.
Shukran.
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Rank: Member Joined: 1/27/2012 Posts: 851 Location: Nairobi
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EngineerLMG wrote:I invented a device, I need to patent it, but I don't have the cash to do that (I'm a broke student, so please spare me).
Legally, I can't disclose/explain the invention. KIPI's rules. All I can say is that it is meant to be used in the kitchen, and will greatly help very many African cooks.
Who's willing to help me pay the patenting fees for this device?
I don't need to say that we'll sign an agreement for you to get a portion of any profits made from the invention, do I? I do? Well, we will sign an agreement for you to get a portion of any profits made. There, I've said it.
Anyone willing to invest in African solutions for African problems, do get in touch.
Shukran. Put your contacts here for interrogation.
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Rank: Elder Joined: 2/16/2007 Posts: 2,114
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Sounds like an ugali maker...
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Rank: New-farer Joined: 3/22/2014 Posts: 50
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Chaka wrote:Sounds like an ugali maker... People are sharp!
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Rank: Member Joined: 11/7/2017 Posts: 186 Location: Nairobi
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Chaka wrote:Sounds like an ugali maker... Loll I think it is a Dishwasher ....
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Rank: New-farer Joined: 3/22/2014 Posts: 50
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Stiffler wrote:Chaka wrote:Sounds like an ugali maker... Loll I think it is a Dishwasher .... No. The other person's right. Does anyone actually want to fund this? Or is Wazua a place for investors in the stockmarket only?
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Rank: Elder Joined: 2/16/2007 Posts: 2,114
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I think you need to ask yourself these sort of questions: 1.Who is the potential buyer(Did you do a market survey)? 2.Is the machine scalable,ie from domestic,hotels,institutions.. 3.Ease of use/Safety 4.Does it use Elec.meaning if Elec goes off halfway iko shida 5.Cost/Durability etc.. There was a machine called a moneymaker which was a manual foot operated water pump which I believe failed.. EngineerLMG wrote:
No. The other person's right.
Does anyone actually want to fund this? Or is Wazua a place for investors in the stockmarket only?
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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EngineerLMG wrote:Stiffler wrote:Chaka wrote:Sounds like an ugali maker... Loll I think it is a Dishwasher .... No. The other person's right. Does anyone actually want to fund this? Or is Wazua a place for investors in the stockmarket only? Patenting costs are not much. 200K top including legal fees. Question is if you have acumen to make money from the product. Have you identified some one to manufacture the equipment? is the manufacturer local or foreign? distributors? Who will finance the initial stock to distributor? Do you want to licence the product to a manufacturer in return for royalties? Life is short. Live passionately.
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Rank: Member Joined: 11/7/2017 Posts: 186 Location: Nairobi
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sparkly wrote:EngineerLMG wrote:Stiffler wrote:Chaka wrote:Sounds like an ugali maker... Loll I think it is a Dishwasher .... No. The other person's right. Does anyone actually want to fund this? Or is Wazua a place for investors in the stockmarket only? Patenting costs are not much. 200K top including legal fees. Question is if you have acumen to make money from the product. Have you identified some one to manufacture the equipment? is the manufacturer local or foreign? distributors? Who will finance the initial stock to distributor? Do you want to licence the product to a manufacturer in return for royalties? I think what @sparkly is trying to say is, you have not really given us much to work with. You don't need to go into the nitty gritty.
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Rank: New-farer Joined: 3/22/2014 Posts: 50
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sparkly wrote:
Question is if you have acumen to make money from the product. Have you identified some one to manufacture the equipment? is the manufacturer local or foreign? distributors? Who will finance the initial stock to distributor? Do you want to licence the product to a manufacturer in return for royalties?
Until it reaches a time when orders are coming in faster than I can handle, I will be making the machine to order. Selling on Jumia, MaSoko, OLX, etc. When the orders become too much, I'll have perfected an automated assembly process for the appliance. So, to answer your question, the manufacturer is Kenyan. About financing the initial stock, that'll be me. One can't be broke forever, eh? If it makes economic sense to license the product to a bigger manufacturer, I'll consider it. But what I want to do first is to make a change in how we cook food. sparkly wrote:
Patenting costs are not much. 200K top including legal fees.
Indeed. That isn't much for a student! 
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Rank: New-farer Joined: 3/22/2014 Posts: 50
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Stiffler wrote:
I think what @sparkly is trying to say is, you have not really given us much to work with. You don't need to go into the nitty gritty.
I hope I've answered all your questions. But you're free to ask any others you may have.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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EngineerLMG wrote:sparkly wrote:
Patenting costs are not much. 200K top including legal fees.
Indeed. That isn't much for a student! In case you want to be taken seriously, you have to decide whether you want to be a student or an inventor/ entrepreneur. Life is short. Live passionately.
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Rank: Member Joined: 7/17/2014 Posts: 132 Location: Wherethewindblows
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The world is never short of ideas or inventors, for a product to go from the drawing board to market is no easy feat so kuddos to you for embarking on this journey. My advise would be to grow the business first then with some solid sales facts, markets etc come back here and state them, interested persons will join you for a stake in your company. My two thoughts... You have to learn the rules of the game. And then you have to play better than anyone else - Albert Einstein
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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doubletap wrote:The world is never short of ideas or inventors, for a product to go from the drawing board to market is no easy feat so kuddos to you for embarking on this journey. My advise would be to grow the business first then with some solid sales facts, markets etc come back here and state them, interested persons will join you for a stake in your company. My two thoughts... Dude he wants to patent the idea so that it's not stolen or infringed upon. "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: New-farer Joined: 3/22/2014 Posts: 50
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I did some more research, got in touch with a lawyer, and found out that the fees required for the 1st year is roughly 21,000KES. The annual fees paid every year for the 20 years over which the patent is granted are what gradually increase to 50,000KES.
So, whoever wants to invest for the 1st year, come on... This is better than bitcoin.
Sparkly, with all due respect, what I will never do is drive on lanes that aren't mine. If I don't have 200K, I don't. And if my being a student means that you won't take me seriously as an entrepreneur, there's nothing wrong with that because it's your decision.
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Rank: Member Joined: 1/27/2012 Posts: 851 Location: Nairobi
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mkeiy wrote:EngineerLMG wrote:I invented a device, I need to patent it, but I don't have the cash to do that (I'm a broke student, so please spare me).
Legally, I can't disclose/explain the invention. KIPI's rules. All I can say is that it is meant to be used in the kitchen, and will greatly help very many African cooks.
Who's willing to help me pay the patenting fees for this device?
I don't need to say that we'll sign an agreement for you to get a portion of any profits made from the invention, do I? I do? Well, we will sign an agreement for you to get a portion of any profits made. There, I've said it.
Anyone willing to invest in African solutions for African problems, do get in touch.
Shukran. Put your contacts here for interrogation. Why haven't you put your personal(or otherwise) contact details?
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Rank: New-farer Joined: 3/22/2014 Posts: 50
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mkeiy wrote:mkeiy wrote:
Put your contacts here for interrogation.
Why haven't you put your personal(or otherwise) contact details? Sorry. I thought no-one was interested. nitumie-email@mailinator.com
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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EngineerLMG wrote:I did some more research, got in touch with a lawyer, and found out that the fees required for the 1st year is roughly 21,000KES. The annual fees paid every year for the 20 years over which the patent is granted are what gradually increase to 50,000KES.
So, whoever wants to invest for the 1st year, come on... This is better than bitcoin.
Sparkly, with all due respect, what I will never do is drive on lanes that aren't mine. If I don't have 200K, I don't. And if my being a student means that you won't take me seriously as an entrepreneur, there's nothing wrong with that because it's your decision. You asked for advice on a public forum and I gave my 2 cents. Your response to the advice is petulant. Breath in breath out, consider the advice, it's up to you whether the advice is useful to you. I am not interested in your opinion of my advice. Remember you are the one who asked for advice. Life is short. Live passionately.
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Rank: Member Joined: 1/27/2012 Posts: 851 Location: Nairobi
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EngineerLMG wrote:mkeiy wrote:mkeiy wrote:
Put your contacts here for interrogation.
Why haven't you put your personal(or otherwise) contact details? Sorry. I thought no-one was interested. nitumie-email@mailinator.com Stop being negative. Get yourself some positive attitude. It will take you further than the funding you are looking for.
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Rank: New-farer Joined: 3/22/2014 Posts: 50
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Thank you all.
My apologies for appearing petulant.
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