We know that you guys are some of the funniest, most brilliant listeners there are on the interwebs. Not only are you guys full of pithy one liners and great suggestions for us, you probably also have amazing ideas about cool products and businesses too.
With that in mind, we want to draw your attention to a cool competition from our friends at WayFounder. From now until June 8th, you can submit your ideas in four categories (Baby & Parent, Pets, Home & Garden, Wild Card) for a chance to get your idea funded and developed. Here’s what they have to say:
WayFounder will choose at least one winner for this competition and potentially four winners, one per category. Winners receive a $10,000 USD cash prize. WayFounder commits a minimum of $50,000 USD to bring that product to market, at which point the winner receives a 5% royalty on all sales of that product. If the product is successful, WayFounder will invest another $250,000 to hire an experienced CEO to grow that single product into a viable and sustainable business, and the winner will receive 5% founder equity in a new company. Full details of the compensation packages can be viewed in the official Rules.
Learn more on their website.