Contact BFS Innovations

Thank you for your interest in BFS Innovations, Inc. Please take a few moments to fill out the form below so that we can learn more about your specific needs and contact you to discuss them directly. 

Technology providers can download our Idea Submission Procedure Brochure here.

Michael, founder and CEO of BFS Innovations, Inc., has over 30 years of experience in new business and new product development success with companies including Procter and Gamble, Bristol Myers Squibb/Drackett, and Bath and Body Works.

Frequently Asked Questions

Innovation Seekers FAQ 

Technology Providers FAQ 


Innovation Seekers FAQ

OUR CLIENTS ASK:
We already receive many technology submissions from external sources and struggle with conducting timely reviews. What added value can you bring?


We don't typically pay for technology leads. Why should we pay you?


We already receive many technology submissions from external sources and struggle with conducting timely reviews. What added value can you bring? 
We can help you to pre-qualify select leads before you decide whether or not to engage with them directly. We personally research and interview select technology providers of your choice to more fully understand their value offering (without identifying you, if you wish). We can also flag areas of particular interest, including unanticipated (hidden) value opportunities and possible concerns. We do this before you decide whether or not to engage with the technology provider(s) directly. Our Vet-It service helps you focus on the most attractive opportunities and spares you wasted time on flimsy or questionable business opportunities. 

We don't typically pay for technology leads. Why should we pay you?
A good deal of our added value comes from identifying and cultivating technology sources and providers that aren't currently participating in the knowledge economy (and who don't respond to published "challenges"). Without our involvement, you most likely wouldn't know about them or be approached by them. We are also quite adept at recognizing and applying suitable solutions from categories other than those represented by our clients. For instance, we recently identified a technical solution from the industrial tiling industry and applied it to our client's dinnerware challenge. We receive a reasonable project fee or service retainer for our scouting services and dedicate our time to conduct custom technology searches to address your challenges.


Technology Provider FAQ
TECHNOLOGY PROVIDERS ASK:
I have a technology that I'd like to license or sell to a large company. What should I do? 


Companies are increasingly looking to external sources to supply technology. As a technology provider, I should be able to approach them myself. Why do I need you? 


How do you get paid?
I have a technology that I'd like to license or sell to a large company. What should I do? 
The first thing you should do is ensure that your technology is protected. A patent attorney can assist you with a patent search (to ensure that your technology doesn't infringe on another's patent) and to devise an appropriate intellectual property protection strategy. Large companies are not seeking lawsuits from inventors who contend that their invention was "stolen." As a result, none will review your technology without an existing patent, patent application, or waiver stating you will not pursue legal action against them for any reason associated with their review of your technology. After you have protected your technology, consider contacting us to discuss your interests. 

Companies are increasingly looking to external sources to supply technologies. As a technology provider, I should be able to approach them myself. Why do I need you? 
It is true that many companies are embracing open innovation to help source technology for new product development and will consider external submissions if these represent valuable options that they would otherwise have to develop alone. In order for a high quality technology to have the highest potential for adoption, it must be communicated clearly and persuasively to the prospective corporate "customer." We are the expert at preparing these value bundles. BFS Innovations' credibility and standing with many of the best known consumer products companies affords us access to senior level influencers and decision makers, offering you, the technology provider, the visibility you seek for your idea/opportunity, and the potential for significantly compressed deal cycle timing. 

How do you get paid? 
If we are working in your behalf, you are our client. In these instances, you pay our compensation, which typically consists of two components: (1) an up-front service fee, and (2) a success commission paid upon execution of a business agreement with the customer. We believe strongly that it is important for both parties to have a meaningful stake in the success of the new business development effort.

Professional New Business Development Support For Technology Providers

Our longstanding relationships with Fortune 500 executives and decision makers have earned us direct access to these key stakeholders. Our proven new business development expertise results in shortened deal cycle timing. We assist technology provider clients in negotiating lucrative, mutually beneficial deals, all while maintaining unassailable honesty and integrity. If you have an invention that you wish for us to evaluate, download our Idea Submission Procedure Brochure below. We welcome the opportunity to review your idea at no cost to you. Please send the signed Outside Submission Agreement, the enclosed Invention Disclosure form, and any attachments to: 

BFS Innovations, Inc. 
Attention: Invention Submission 
6390 N. Meadow Glen Dr.
Westerville, Ohio 43082

Or, you may scan and email us the above documents

Click here to download the Idea Submission Procedure PDF Brochure 
You will need Acrobat Reader to view and print this file. If you need Acrobat Reader, you can download it here.
 

Note: It is our experience that for legal reasons, most prospective customers within our extensive network are unwilling to review inventions that are not already patented or, at minimum, patent pending. 

Any invention submitted without an accompanying Outside Submission Agreement (contained in the Idea Submission Procedure Brochure) will be considered a non-confidential idea submission with all rights waived. In this instance, BFS innovations, Inc. will be free to use it (or not) as it deems appropriate, and may destroy your ability to obtain a patent.

Collaboration Promotes Innovation Success

Consumer products companies are increasingly adopting collaborative approaches to new product development. Many of them are enlisting external resources and technologies to accelerate new product design. Companies are deriving great benefits from external innovation and co-development. The diagram below describes Henry Chesbrough's foundational Open Innovation Paradigm.

Increase Your Company's Innovation Productivity
Is your company successfully meeting or exceeding its growth objectives through product innovation? 

BFS Innovations works with you to help you develop innovations from concept to market. We provide your team with added "bandwidth" and proven technology scouting solutions. We specialize in the consumer products industry, and we offer our clients a productive "edge" through timely, effective, targeted solutions.

Our Solve-It, Spark-It, Vet-It methodologies offers clients the latest innovation resources.

Solve-It, Vet-It, Spark-It: Powerful Options for Innovation Success
Solve-It is our most popular technology scouting service. Using a powerful combination of proprietary and public domain search tools, a disciplined approach and probing curiosity, we quickly and efficiently identify viable technical leads that target our clients' challenges. We directly contact technology provider candidates and "drill down" for information while keeping our clients' identity confidential until the ideal solution is found.


Vet-It offers clients the opportunity to vet their technology provider leads through BFS Innovations' expert research methodology. This service saves our clients valuable time and also often reveals unexpected capabilities and opportunities that might otherwise be overlooked in an initial search. BFS Innovations issues a complete report on the technology provider(s), including areas of interest (and concern), and recommendations.


Spark-It is a creative collaboration service that provides our clients' Marketing and R&D partners with enabling technologies (some using lateral translation) to help flesh out and demonstrate new product concepts, while concept development is in progress. Spark-It not only helps fuel the creative process, but also offers feasible solutions by identifying and enabling relevant technology options as concepts are being developed.