Not long ago, I spoke with an inventor of skateboard components, who had read my book on Skateboards and Hover Boards of the Future and all the potential technology we could see in that space in the next few decades. But even with each incremental new technology that brings today’s skateboarding to the level of hoverboards like Back to the Future-style boards, one has to wonder if there’s a big enough market out there to develop the technology, fund the R&D, and still retain a reasonable profit for all that trouble?
In fact, I think there is. Yes, I agree that there is a huge market, and why should the military have any fun when it comes to advanced technologies? We need to get some transfer tech going here, plus who says recreation can’t be rocket science too? And these technologies have many other great applications, too, right?
In fact, one of the technologies listed in my book was LED lighting effects, which is now being done by a gentleman in San Diego, who received a couple of patents for lighting technology like that. Just one more step towards reality.
The skating market is huge and I’m currently working on another eBook; The future of sports technologies, where I will look at all the business aspects of these things. I also look forward to a revival of skateboarding in the US soon, as it seems to have a cycle of 10 here. The Middle East too, in Dubai they’re skating now for example, and the Japanese are also going to be in on it with new high tech skate parks.
In fact, I have a lot of reservations about the long and troublesome patent process in the US, also the use of the USPTO for those who create imitation products without paying royalties, China being a big culprit, but hardly the only one. I’ve been blown away by all the Identity Theft but sometimes you just have to give it a try, like this new X-Prize with the 100 mpg cars right now.
What about selling a few million units on the market? It seems that many distributors in that sector have a blockage. Yes, I have a number of suggestions, and I would say that bypassing the current sub-sector of the skate manufacturing industry would be a good idea. As far as manufacturing goes, you need some technical drawings first, and of course you’d probably have to go through the secret design to judge feasibility.
Ok, so what do I mean by “skateboard market” potential? Well, you see, if someone were to add a revolutionary new technology to this space, I think the market would dramatically increase the current skate market by two or three times. I think the US skateboarding market is around 25 million, not the 12.7 the internet suggests. Plus, that potential could be doubled if you introduced such new technology, and don’t forget about “inline” roller skates.
A savvy inventor of a new type of skateboard would have other high-tech options and could promote a complete renaissance, with iPhone app integration as well. For example, number of miles, speed, etc. And skater kids would videotape their friends, download virtual reality games, or augmented reality games, which are now popular in living rooms across America. The social media aspect could be amazing, the global skating craze, I see it crystal clear.
So it might be prudent to consider that potential rather than playing the “MBA student” accountant when doing the numbers. Since it would have to be ready to satisfy the market once it got off the ground, space rockets like that are hard to sustain; and I know what you’re thinking in the back of your mind, you see that readers of my articles have an average IQ of 125, so let me stop you right there and answer one of his questions before he asks it; YES, there is a “green” aspect to all of this, skateboarding to work, fewer people using oil-powered cars. Do you see that point too?
So how should my well-known inventor create this new high-tech skateboard company? Well I would say be very discreet when prototyping, don’t talk to too many people about it. Since the cost is prohibitive for small numbers of units, but not for mass production, a full implementation is necessary and that means a little more upfront capital and a little more risk, but the rewards will be great.
So you might have a little tied up on your prototype, more than a teenager could afford, but that’s only a temporary problem. Once you prove the concept to him, he can do all the international patent work, maybe start all of it now.
And it makes sense to do a good patent search right away, since you might find other concept patents that already exist for this material, so there’s that problem. Which means you may need a legal war chest to decimate patent squatters who never intended to build one and wouldn’t know how even if they tried. Those are some thoughts. What are your thoughts, about my thoughts and discussion?
You can email me if you have a new innovation or gadget or idea or invention to strategize or something the world needs and you would be willing to pay for so please consider all of this.