So, you have an idea for a product. A beauty. Nothing complicated like a cure for cancer or a drip-free milk jug, but a unique idea solving a real problem. And you believe there are enough real people with the problem to present a decent market.
And make you some money.
Casually searching the Internet, you quickly realise this path is long and hard, starting with intimidating terms like patenting, prototyping, business models and many more casually thrown about. And you realise this is not a cheap dream, either—it will require funding. Lots of it.
But how to start? Really start, and not just talk about it? Even if you had the funding, what do you know about fundraising, proto-typing, product design, manufacturing and compliance testing? Even more distressing, what do you know about starting a business? Do you even want to be an entrepreneur?
Enter Resolution Circle. Yes, it may have an interesting name, but it plays an interesting game — your game. Resolution Circle will take your product idea, help to get the funding, design and manufacture it, and help you take it to market. That simple. It’s called the Idea- to-BarcodeTM process.
This one-of-a-kind commercial company was started in 2012, and is owned by the University of Johannesburg. It is the culmination of two years of international scouting to address unique problems in South Africa. After borrowing the best bits of advice and experience from around the world, Resolution Circle was started with over R380 million in investment. Five years later, and commercialising more than 80 products,
It starts with a discussion of your idea, usually after signing an NDA (a document where we promise not to tell others about your idea). If there is a patenting opportunity, this will be done by the resident patent attorney (it’s handy to have one close by). Your idea will then be developed from both a technical and business perspective to end in a funding application. You will obviously also receive some technology- based entrepreneurial training; you must start and drive a business, after all.
After receiving funding and surviving the celebration, the hard work begins. A detailed project plan is developed with you, and the engines are started. This includes technical issues like design, prototyping (amazingly, Resolution Circle has 12 different types of these), engineering, industrialisation, small- scale manufacturing and even marketing. Resolution Circle only stops when you have enough product to make your first R1 million. Depending on the deal, the company may even help you sell the product through its own network of partners.
All the way, you will have access to experts, advice, training and support to help you through the tough times.
That’s Resolution Circle.
