As you may have already heard, the design and development center House of Thousand Designers (HOIOOOD) is a new open platform that will help creatives transform their ideas into real products. We want to take this opportunity and let you take a peek under the hood so you can see how exactly that happens.
Product development at HOIOOOD is a process – one that’s been tested and proven for over 10 years at Feydom. Throughout this process the participating designers will meet, interact with and learn from many seasoned industry professionals with expertise in areas including product design, manufacturing, marketing and business development.
(1) Win the contest
The process starts off with competitive contests. Every few months we will host contests supported by different manufacturers. Interested individuals can visit our contests page to learn more and apply. The first round of contests, which includes design challenges for 4 furniture pieces (sofa, chair, lamp and workstation), will close on June 25th 2017.
(2) Develop your idea in our studio
Once the designers successfully convince our jury that their designs have potential to become products, they come to our Open Design Studio (located in Vizbegovo) where together with other experienced designers and mentors they will improve, model and prototype their designs.
In this step we will do research to choose the most appropriate materials and technology and determine the most effective way of production. The result of this phase is a fully functional prototype which will present a solid base for the remaining steps of the product development process.
(3) Create a business plan
Before the new product can be placed on the shelves of international furniture stores, a team of marketing experts in our Business Accelerator will work with you to create a brand story and a strategy for positioning the product on the market.
Eventually, together, we will figure out where and how to manufacture the product, how to distribute it, and how to sell it.
The unique part of all this (in comparison to traditional design contests) is that in this case, the designer will remain the rightful owner of the intellectual property rights forever and will receive lifetime royalties of all sales.
Are you still here? If so, grab that pencil and sketch down that genius idea you never though you’d get a chance to share with the world. Start here.