This is where the idea is born. In the incubation stage, there are no wrong ideas. We go through countless sticky notes as we think of problems that could benefit from solutions. Oftentimes, one concept will lead to another.
In the vetting stage, we do a hard scrub down of each idea. This is where we flesh out the idea and ask ourselves all the tough questions. We study the market for the potential product and research competitors (if applicable). After extensive scrutiny, the vetting stage ends with a team decision of whether or not we want to pursue the idea.
The Ivy Incubator team places a strong emphasis on defending intellectual property. To date, we have applied for 16 US patents.
Only our best and most promising ideas make it to the product development stage. We design every product to be simple and user friendly. This stage concludes with a finished prototype. Three platforms have been prototyped to date, with more currently in the works.
At this stage, we now have a product in hand that we can go test. We want to ensure that the product is exactly what the user wants. Additionally, we want to ensure that there is sufficient demand in the marketplace for it. To date, Ivy Incubator has tested three platforms.
Finally, it is time to launch our product to the public. This is an exciting day for our team, considering the long process it takes to go from idea to product. Ivy Incubator is excited to be launching BrainChain in January 2019.