Inventors typically bring their idea to a prototyping/product design firm. It can cost around $25,000 to have a firm work on a design, and an additional $50,000 to test and finalize it.
With a finalized product, the inventor would then have to pay for retooling a factory, production, distribution, marketing and sales.
Most inventions cost about $500,000from the idea’s start to the first penny earned.
Most people can’t pay for this out of pocket. Some of their other options are crowdfunding services, private investors, or hope to get on a television show like Shark Tank. None of these are easy to accomplish. This risk acts as an enormous barrier to not only potential income for the inventors, but to innovation as a whole.