North Carolina business to invest $25 million in inventions

@ Reuters "Louis Foreman figures just about everyone has an idea for an invention, if not the time, money and expertise to pull it off.

The Charlotte, North Carolina, entrepreneur wants to do something about that. His company announced on Wednesday a $25 million initiative dedicated to bringing individuals' innovations to the marketplace.

Inventors can submit their ideas to the Edison Nation Innovation Fund (www.edisonnation.com) for $25. No other money is required from them to develop the ideas, and they will share the royalties if the product succeeds.

"We're really greasing the rails. We're making it easier for those great ideas to finally get in the hands of companies," said Foreman, CEO and co-founder of Edison Nation, a search service that matches retailers' product requests with inventions."

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