When approaching prototype creation, you must make a series of decisions. This expert weighs in with her expertise. Photo courtesy

When embarking on the journey of developing and bringing a new product to the market, you as an inventor have to consider a multitude of aspects that add to the overall market success of your final product. And prototyping is one of the key product development stages that helps you achieve that.

Whether you're going to launch a hardware or a software product, or the combination of both — you need to have a prototype made. First, it allows you to validate your idea and see if it's worth investing time and money into. Second, it creates opportunities for product improvement, detection and elimination of design flaws, and cost reduction, especially during manufacturing.

Therefore, you will need to make a set of choices before you actually build a prototype to ensure that it results in a viable, cost-effective, and quality market-ready product. Let's look at major choice points and their implications that will help you navigate the process in the most efficient way.

To begin, let's look at the various options you have.

The success of any process lies in its foundation. Hence, before anything else you need to decide on the product development approach you're going to follow. Some inexperienced inventors, for instance, choose to go from product idea straight to having a prototype made. They skip three initial steps that are crucial for building a sound road map of the development process and creating a product with a maximum market potential.

In most cases, those inventors end up coming to companies that build prototypes to start from scratch. Usually, it's because they hit a dead end with their prototype or a product was manufactured with many defects. The latter is always a result of improperly optimized pre-production prototype, if optimized at all.

The extensive experience of our product development team shows that a methodological approach to the entire process, prototyping in particular, yields the most effective results. That's why we always recommend it to those inventors who choose to DIY their prototype. If you're one of them, here is a short version of the approach with steps it implies that you can use prior to prototyping. You can find the in-depth version here.

1. Product discovery

To set the path for the development of your idea you need to identify your product's strengths, weaknesses, opportunities, and threats. In other words, you need to conduct a SWOT analysis, which will help you learn about:

  • intellectual property opportunities
  • your competition and target market
  • features your product should have
  • time and cost of your idea development.

2. Concept design

Based on the results of the SWOT analysis, you can establish the road map of the development of your product and get to creating a concept or industrial design. Concept design is a virtual representation of your idea translated into 2D renderings and 3D CAD models that show you a rough look and functions your product will have. These should be built in accordance with preferences of your target audience to ensure the product's market fit. Concept design is usually made by a professional Industrial Designer. But if you have a basic knowledge of how to use industrial design software applications, then you can make it yourself.

3. Market and prior art research 

Another important step before prototyping is gathering and analyzing feedback from potential consumers. This is done through market research. With a concept design developed, you can conduct focus groups and consumer surveys to understand if the audience likes your idea. The information you get will give you more opportunities to improve your idea and add necessary changes to the design before prototyping, thus reducing the cost of the process and increasing market potential.

Prior Art Search, or research of existing patents, provides some of the benefits as market research. But its main purpose is to identify similar product ideas that have already been patented, so that you can make your product stand out by adding unique features to the design, as well as avoid a conflict of patent rights.

In a follow up article next week, we will discuss more decisions you must make during the prototype process. I have also previously contributed to guest columns on the following:

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Onega Ulanova is the founder of OKGlobal.

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Houston-based Fervo Energy bumps up IPO target to $1.82 billion

IPO update

Houston-based geothermal power company Fervo Energy is now eyeing an IPO that would raise $1.75 billion to $1.82 billion, up from the previous target of $1.33 billion.

In paperwork filed Monday, May 11 with the U.S. Securities and Exchange Commission, Fervo says it plans to sell 70 million shares of Class A common stock at $25 to $26 per share.

In addition, Fervo expects to grant underwriters 30-day options to buy up to 8.33 million additional shares of Class A common stock. This could raise nearly $200 million.

When it announced the IPO on May 4, Fervo aimed to sell 55.56 million shares at $21 to $24 per share, which would have raised $1.17 billion to $1.33 billion. The initial valuation target was $6.5 billion.

A date for the IPO hasn’t been scheduled. Fervo’s stock will be listed on Nasdaq under the ticker symbol FRVO.

Fervo, founded in 2017, has attracted about $1.5 billion in funding from investors such as Bill Gates-founded Breakthrough Energy Ventures, Google, Mitsubishi Heavy Industries, Devon Energy (which is moving its headquarters to Houston), Tesla co-founder JB Straubel, CalSTRS, Liberty Mutual Investments, AllianceBernstein, JPMorgan, Bank of America and Sumitomo Mitsui Trust Bank.

Fervo’s marquee project is Cape Station in Beaver County, Utah, the world’s largest EGS (enhanced geothermal system) project. The first phase will deliver 100 megawatts of baseload clean power, with the second phase adding another 400 megawatts. The site can accommodate 2 gigawatts of geothermal energy. Fervo holds more than 595,000 leased acres for potential expansion.

Cape Station has secured power purchase agreements for the entire 500-megawatt capacity. Customers include Houston-based Shell Energy North America and Southern California Edison.

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This article originally appeared on our sister site, EnergyCapitalHTX.com.

Texas university's new flight academy opens at Houston Spaceport

cleared for takeoff

The vehicles may not have “student driver” stickers on them, but Texas Southern University has moved a dozen planes into its new training facility at the Houston Spaceport, opening the way for student flyers to use the facility.

TSU previously reached a deal with Houston Airports and the City of Houston in 2023 to house its prospective Flight Academy at Ellington Field. At the time, TSU had a small fleet of nine planes for student use, but a $5.5 million investment from the city greatly expanded the space available.

The Flight Academy includes a 20,000-square-foot hangar that serves as a TSU satellite campus. The school now has a fleet of 12 Cirrus SR20 aircraft that were acquired last year through state and alumni funding. An additional 4,500 square feet is used as classroom and office space. An 8,000-gallon fuel tank will support flight training operations.

TSU first launched its Aviation Science Management program in 1986 and added a professional pilot program in 2016. The school is now part of the United Airlines pipeline program and has also forged relationships with Delta and Southwest.

“I want to commend Texas Southern University and Houston Airports for their leadership and partnership in advancing aviation education right here in our city,” Houston City Councilwoman Dr. Carolyn Evans-Shabazz in a press release.

“It connects our students to high-paying, high-demand careers in aviation and aerospace. This is how we grow a city in the right way—by investing in workforce development, aligning education with industry and making sure our residents are prepared to lead in the industries of tomorrow. Houston is already a global leader in aerospace and projects like this strengthen that position even further, especially here at Ellington, where innovation and opportunity continue to take flight.”

The City of Houston signed an agreement to continue funding the academy for five years.