I have an idea for a contact lens product. But have no money. where do i start? i know there’s nothing like this in the market.

[fndwarrior]

I have worn contact lenses since being 2 years off age. i am now 44 and have been searching for this product idea for a few years now, and there is nothing out there. I have been looking into how to license the idea. But still feel out of my depth and would love some help and advice.

 

[fisicx]

Hi @fndwarrior and welcome to UKBF.

Unfortunately without money your idea has little chance of success.

At the very minimum you need a MVP to show prospective investors. You then need to put up some cash to demonstrate your commitment to the business.

You could try looking for a grant but even then a solid business plan with financial forecasts is a must.

 

[fndwarrior]

Hi @fndwarrior and welcome to UKBF.

Unfortunately without money your idea has little chance of success.

At the very minimum you need a MVP to show prospective investors. You then need to put up some cash to demonstrate your commitment to the business.

You could try looking for a grant but even then a solid business plan with financial forecasts is a must.

Thank you for taking the time to reply. i really appreciate your advice.

 

[cjd]

You could try to patent your 'idea' then licence it. Tho' you can't actually patent an idea, it must be an invention. But it only involves words and diagrams so you don't have the prototyping cost.

UK Patents - The Basics

A patent is a legal right granted by the UK Intellectual Property Office for a new invention. It allows the owner of the patent (the patentee) to take legal action against others who use his invention without his permission.

www.mewburn.com

 

[BusterBloodvessel]

I guess the question is - do you have a concept/workings of the product? Is it physically possible?

Or is it an idea of something you would like to have, but have no idea how to do it or if it's even a possibility?

If it's the latter then the first consideration would be perhaps it hasn't already been done because there's simply no demand for it, or more likely because it's not actually possible. Otherwise, contact lens manufacturers would probably be on to it by now.

 

[Anthony015]

I have worn contact lenses since being 2 years off age. i am now 44 and have been searching for this product idea for a few years now, and there is nothing out there. I have been looking into how to license the idea. But still feel out of my depth and would love some help and advice.

I would recommend saving some money, developing a prototype, and then presenting it to investors. I hope to see you on Dragon Den. best wishes.

 

[Mark T Jones]

Technically, you need to look at the complexities of manufacturing, acceptance/compliance etc. That could cost a fortune or could be extremely simple- we can only guess at this point.

Assuming it's a big deal, the way to get at least a bit of traction is to do some meaningful market research around acceptance, price points, frequency of purchase etc - that will validate the business if not the product.

 

[Mattymoomoo]

Having worked with Coopervision in the past, i can say you are going to be up against it, unless you worked with someone like them. The costs involved are likely to be huge. If you invest on your own, be prepared to lose it all. Also, an idea is worth very little. all the value is in the execution (as you are probably seeing right now - pun intended).