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E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE E-WIRE PRESS RELEASE |
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Innovation Startup |
IdeaConnection.com's Offering Memorandum is now available. |
Invest is innovation. Invest in outsourcing collaborative problem solving. |
VANCOUVER, BRITISH COLUMBIA, Jan. 15 -/E-Wire/--
COMPANY OVERVIEW
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The Issuer, Online Data Services Ltd., through its website IdeaConnection.com, enables companies, both large and small, to tap into the talents of a global community of experts to solve problems, think creatively and conduct R&D without needing to employ a large number of additional staff. IdeaConnection enables them to find uniquely qualified minds and skills. In essence, IdeaConnection can make ideas, inventions, and scientific expertise from around the world, accessible to "innovation-hungry" companies.
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IdeaConnection enables individuals with skills and knowledge to work independently on a contract basis, rather than working with an established large organization. Many young, highly skilled people prefer this method of work. Also, IdeaConnection enables skilled people to supplement their income by taking on projects posted through IdeaConnection on a freelance basis, working in the evenings and on weekends. IdeaConnection also taps into retired persons who offer skills and knowledge based on their many years of experience.
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Companies will still need to have some great internal talent for R&D, but increasingly they will need to tap into outside expertise. IdeaConnection can not only help them make these contacts, but also enable internal and external experts to work collaboratively to solve business problems, design, invent and create new ideas. THE MARKET It is estimated that there are more than 100 million small companies in the world. A significant portion of these enterprises benefit from problem solving, creative thinking and innovation in order to reduce costs and maximize competitiveness. Historically problem solving and innovation were performed by in-house personnel of companies. However, in recent years companies have become more amenable to outsourcing these requirements to third-parties who specialize in the provision of these services. Advantages of outsourcing include enlargement of the pool of individuals with the talent and/or expertise required to find realistic and economic solutions sought by these enterprises. It also provides greater opportunities for the development of innovation thereby improving their prospects for competition and profitability of the enterprise in domestic and global markets.
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LIST OF OUR SERVICES The Issuer has developed 12 internet based services focused on collaboration, innovation and problem solving. The primary services of the Issuer's are a set of tools that allow enterprises that are seeking solutions to problems and/or innovation in their business operations ("Solution Seekers") to locate and secure the collaborative services of individuals who possess industry specific skills in problem solving and innovation ("Problem Solvers"). To simplify the process for Solution Seekers, the Issuer is compiling an international database of Problem Solvers, currently encompassing more than 40 business and industry specific disciplines. The Issuer's "ThinkSpace" software allows the Solution Seeker to define a "problem" that requires a solution, set the parameters that must be met and set a price that the Solution Seeker is willing to pay to the Problem Solvers for his or her services (generally $1,000 to $100,000 USD) for the successful solution or innovation. The Solution Seeker has three options for obtaining solutions to their problems.
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Method A: The Solution Seeker can employ IdeaConnection to recruit a Moderator and Problem Solvers, and manage the process of solving the problem. IdeaConnection will retain 30% of the total fee for this service.
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Method B: The Solution Seeker can manage their own problem solving process - searching the Issuer's database of Problem Solvers, reviewing their profiles and inviting one or more prospective Problem Solvers to participate in finding the solution or innovation. The prospective Problem Solvers may then evaluate the project and determine whether they wish to participate in finding a solution or innovation for the Solution Seeker. From the fee paid by the Solution Seeker, the Issuer retains 15% for its services and the Problem Solvers are paid the remaining 85% (or if more than one, split amongst all of the participating Problem Solvers).
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Method C: For a fee, the Solution Seeker can use the Issuer's ThinkSpace and problem solving tools, but employ their own in-house personnel to work on a solution to their problem.
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The Issuer's "ThinkSpace" is an online collaboration software that enables several people to work together using a whiteboard, text chat and video chat, where they can exchange ideas and work together in a real-time environment to solve complex problems and develop innovative solutions to proposed problems. The ThinkSpace also offers a growing array of tools to stimulate thinking and creativity.
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To complement the Issuer's online services, the Issuer provides an online facility for the purchase and sale of patents, innovations, inventions and other intellectual property rights. The Issuer also provides, free of charge for philanthropic purposes, online facilities and tools that permit individuals who are seeking and those who are willing to provide, solutions to problems for the benefit of humanity and unrestricted use in the public domain.
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