A Paradigm Shift in Prototyping
From the creation of the wheel to electric cars, we continue to see important advancements in our journey on this planet, some more revolutionary than others.
Humans have come up with innovation after innovation in the short time that we have been on this planet (the modern form of humans only evolved about 200,000 years ago).
When we look back on inventions, we tend to focus on the end product. It is easy to overlook everything that comes before it. Charles F. Kettering once said, “An inventor fails 999 times, and if he succeeds once, he's in.” Coming up with ideas that are feasible is clearly a lengthy process, but idea generation is just the start. Once an idea has been refined, then comes the part of turning it into something real, and a critical step in this process is prototyping.
“Traditional method of inventors handing their ideas over to a group of consultants presents several barriers and limitations.”
The evolution of prototyping
Prototyping is a process where designers and engineers implement ideas into tangible forms from paper to digital. This process has evolved over the years and now inventors have a range of options to turn their golden idea into a physical item. However, the traditional method of inventors handing their ideas over to a group of consultants presents several barriers and limitations.
The significantly high cost of collaborating with a consultancy, alongside the slow turnaround times and loss of project control are some of the major challenges an inventor will face. Often, they resort to building their own team of experts to help drive their idea forward, but again, this takes time and often the costs of these ‘DIY’ projects can spiral incredibly quickly for less experienced inventors. This becomes frustrating when a potentially urgent market opportunity is being missed.
From missed opportunities to burning through a budget, there is clearly a need for a remedy from the traditional consultancy approach. And with automation and technology at our disposal now more than ever, there has never been a better time for a new model.
“The control is always in the inventor’s hands within closely controlled package costs, so inventors always know what they will be paying, banishing any budgetary concerns.”
Changing the game
This is where we come in. Our digital platform enables inventors to share their ideas with a diverse field of experts in industrial design and engineering professions from around the world. Instead of bidding via quotes, in the way a traditional consultancy might win a project, experts win the project by submitting design proposals for the inventor to choose from.
Importantly, the priority is placed on making the best possible prototype, instead of inventors comparing quotes which invariably exclude the hidden costs traditional methods add on during the later stages. The process is then repeated for every stage of the prototyping and the control is always in the inventor’s hands within closely controlled package costs, so inventors always know what they will be paying, banishing any budgetary concerns.
“Not only are LastBasic costs up to 60% less than a traditional engineering consultancy, we pride ourselves on ensuring that we are completely transparent.”
A prototyping process for everyone
By pooling talent from expert engineers, makers and designers worldwide, who compete to ‘win’ the inventor’s business, the inventor always has the best choices while retaining full control. Once the winner is chosen, feedback can be provided if alterations are needed, while activities can be outsourced to proven experts with decades of prototyping experience. In LastBasic’s case, the inventor also retains 100% of the legal rights to their idea and prototype.
Costs, of course, are hugely important. Not only are LastBasic costs up to 60% less than a traditional engineering consultancy, we pride ourselves on ensuring that we are completely transparent. Our package-based funding and single fixed payment ahead of prototyping mean the investor knows there will be no hidden costs along the way.
We are delighted to have already seen some of our customers' ideas come to fruition and you can find the case studies here.
This continues to be an extremely exciting time for LastBasic, and due to greater visibility, significant cost benefits, and the elimination of inefficiencies, our new model is being heralded as the democratisation of prototyping. We are seeing a major paradigm shift in prototyping with the potential to accelerate innovation across any sector around the world. We are making it easier, quicker and cheaper for inventors to turn their ideas into tangible and workable solutions for today’s issues. The time is NOW.
Interested in learning more about this new wave of crowdsourcing for inventors? Download our whitepaper “A Paradigm Shift in Prototyping”, here.