June 28, 2012 (Eau Claire, WI - Press Release) – The Eau Claire Area Economic Development Corporation (EDC) is pleased to announce the first award recipient in The 2012 Idea Challenge.
Benjamin Wall has received a $500 cash award for his product idea, an accessory targeted toward the logistics industry. Wall now has the opportunity to advance within the competition to win up to $6,000 in additional business support.
Wall started developing the idea a year ago based on a complaint he received at work. The problem sparked Wall's imagination and he began to sketch designs for the product. Because the product is still in the development phase, specific information is confidential; therefore neither a detailed description nor pictures are available at this time.
Wall decided to submit an application to The Idea Challenge in April when his mother saw an advertisement for the competition in a local Eau Claire newspaper. He was interested in getting his idea to market but needed help developing a strategy and business plan. Wall explained, "I submitted my idea to the Idea Challenge because I thought it was a good product and I wanted as much help as I could get trying to bring the product to market."
When asked about the biggest challenge he has faced in developing a new product, Wall said, "Time. There are only so many hours in the day." Between being a husband, a father, and working full-time, he is constantly juggling tasks to find time for his idea. Wall stated that he works on the product almost daily, even if for only fifteen minutes to jot down quick notes and thoughts about the product.
When asked where the product is headed now, Wall was uncertain, stating, "I go back and forth about it." He said that he has really enjoyed the product design process but has little experience when it comes to the business side of things. The product is still in the early stages of development so he is open to either licensing the product or manufacturing it himself.
