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X-Wand Halogenated Volatile Organic Compound (HVOC) Screening Device HVOC Selective Field Screening Device for Env assessment, remediation, monitoring companies There are currently no reviews for this Innovation.
| X-Wand Halogenated Volatile Organic Compound (HVOC) Screening Device
HVOC Selective Field Screening Device for Env assessment, remediation, monitoring companies |
|
The X-Wand is a fast,low-cost, easy to operate, portable hand-held field screening device for soil and water that is selective for halogentated volatile organic compounds (HVOCs). |
 Annual Sales Forecast for USA * | Innovation Status |
Idea |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
Development
Status |
Proprietary
Protection Status |
Concept
Score |
| Ultra Low |
$0 |
$6,600 |
$36,000 |
2 of 5
Successful Prototypes
|
5 of 5
Granted Patent Claims
|
50 29 is
Average
|
| Low Support |
$88,000 |
$180,000 |
$350,000 |
| Medium Support |
$730,000 |
$1.2 M |
$2.0 M |
| High Support |
$2.0 M |
$3.4 M |
$5.5 M |
Remaining Time & Cost to First Sale |
| Ultra High |
$3.8 M |
$6.3 M |
$10.3 M |
6 mos-1 yr
|
$100k-$1M
|
X-Wand Halogenated Volatile Organic Compound (HVOC) Screening Device
- HVOC Selective Field Screening Device for Env assessment, remediation, monitoring companies
Final Decision Maker: Environmental Consulting Companies, State Environmental Regulatory Agencies, Federal Environmental Regulatory Agencies,U.S. Corp of Engineers
X-Wand Halogenated Volatile Organic Compound (HVOC) Screening Device HVOC Selective Field Screening Device for Environmental Assessment, Remediation, and Monitoring Companies Final Decision Maker: Anyone who needs to screen locations for the presence of HVOCs or estimate the concentration of Trichloroethylene (TCE) in a soil or water sample For the first time, you will be able to accurately perform on-site soil and water screening for HVOCs, with results in minutes, not days, and without having to collect, protect, transport, and remotely process samples. You will need only one person to test as many locations as you choose, and they will have real-time results for an accurate "snapshot" of the problem. You'll save thousands of dollars. Your costs will be $5-$15 per sample instead of the $70-$100 per sample you'd spend for laboratory analyses. Costs will also be reduced by not having to return to the site for further testing, or needing to protect chain-of-custody for your samples. We have validated the X-Wand for use in screening soil and water in accordance with ASTM D 7203. Since this device does not expose samples directly to an ignition source, there is no danger in using it for samples that may contain flammable vapors. There is no other device available to do what the X-Wand does. The X-Wand technology is fully patented. The device received an American Chemical Society Regional Industrial Innovation Award in 2007. $3,200 for an X-Wand device Seeking: Incubation Partner, Export Partners, R & D Partners, Buyer or Licensing Partner
| $3,200 for the X-Wand Device | Seeking: Purchase, Investment, Distribution, Manufacturing/R&D |
|
* Consumption sales forecast. Does not include "Random" events or “Inventory Fill”. Forecast is for Year 1 for Large or Year 2 for Small Companies.
Forecast should be read as ...”With Low marketing support there is an 80% odds of achieving sales of at least...
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| Listing #: USA.75.021809.006 |
Page 1 of 5 |
Date Posted: 2009-02-26 |
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| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
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Report Assumptions and Inventor(s) Commentary
|
|
| Inventor(s) Assumptions |
"Most Likely"
Estimate |
Confidence |
Inventor(s) Commentary
Data Source or Basis for Assumptions |
| # of Possible Final Decision Makers |
14,746 |
60% |
Data from the internet: census.com, manta.com, ibisworld.com
|
| Revenue per First Purchase |
$3,200.00 |
60% |
The first-time purchaser will most likely want to purchase one X-Wand device to see how it performs. |
| % that will Repeat |
30% |
30% |
Many companies have more than one site at which they are working so they will buy a second X-Wand device or more devices after they see how well the first device performs. |
| Number of Annual Repeats |
1 |
30% |
This is an estimate based on judgement. |
| Revenue per Repeat Purchase |
$6,400.00 |
30% |
This is an estimate based on judgement. |
| Reseller (Trade) Margin |
40% |
30% |
Estimate |
| Producer Profit (EBITD) |
15% |
60% |
Estimated manufacturing cost of $1,710 to $1,870 with a sales price to distributor of $2,286, 10% royalty to WRI of $229, & 40% ditribution margin, giving a sales price of $3,200. |
| |
| Innovation Status |
|
| Development Status |
2 of 5
Successful Prototypes
|
Functional prototypes have been constructed and successfully tested for performance. Future designs may include digital data processing, a computer interface,an on-board datalogger |
| Cost to First Sale (remaining) |
$100k-$1M |
60% |
This estimate is based on historical costs to prepare prtotype devices. |
| Time to First Sale (remaining) |
6 mos-1 yr |
60% |
This estimate is based on the historical time required to set up the licensing agreement and historical time to prepare prototype devices. |
| Confidence in Concept Claims made in description |
60% |
Functional prototypes have been successfully tested for performance in validation studies and by real world use. |
| Proprietary Protection Status |
5 of 5
Granted Patent Claims
|
The X-Wand technology is a registered trademark. United States Patent 7,487,662,Volatile organic compound sensor system, was issued on February 10, 2009. |
| Concept Score & Diagnostics |
|
|
| Concept Diagnostics |
Red |
Yellow |
Green |
| Percentile Group |
Bottom 40% |
Middle 40% |
Top 20% |
| Overt Benefit |
|
 |
|
| Reason to Believe |
 |
|
|
| Dramatic Difference |
|
|
 |
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| Listing #: USA.75.021809.006 |
Page 2 of 5 |
Date Posted: 2009-02-26 |
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
|
Inventor Commentary & Alternative Development Scenarios
|
|
| Inventor(s) Sales Goals |
| Minimum Goal |
$3.2 M |
Current GOAL |
$6.4 M |
X-Wand Halogenated Volatile Organic Compound (HVOC) Screening Device Being Used to Screen a Soil Core |
Inventor(s) Commentary:
The X-Wand uses a heated diode sensor,which is selective to halogens and does not respond to fuel hydrocarbons or water vapor, detecting HVOCs at levels down to parts per billion. It is used to perform ASTM Method D 7203 and provides a simple,reliable means for rapid evaluation of HVOC-contaminated sites, allowing collection of appropriate samples for laboratory analysis, offering significant cost savings. It can be used to quickly locate HVOC hot spots and provides real-time site monitoring. |
|
CURRENT SALES FORECAST |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
| Ultra Low |
$0 |
$6,600 |
$36,000 |
| Low Support |
$88,000 |
$180,000 |
$350,000 |
| Medium Support |
$730,000 |
$1.2 M |
$2.0 M |
| High Support |
$2.0 M |
$3.4 M |
$5.5 M |
| Ultra High |
$3.8 M |
$6.3 M |
$10.3 M |
If MARKETING CONCEPT Improved (Increase Concept Score by +20 Points) |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
| Ultra Low |
$0 |
$9,400 |
$52,000 |
| Low Support |
$130,000 |
$260,000 |
$490,000 |
| Medium Support |
$1.1 M |
$1.8 M |
$2.9 M |
| High Support |
$2.9 M |
$4.8 M |
$7.7 M |
| Ultra High |
$5.4 M |
$9.0 M |
$14.2 M |
If PRODUCT/SERVICE Improved (Increase Repeat Rate & Number of Repeats by 30% and Revenue Per Purchase 20%) |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
| Ultra Low |
$0 |
$8,800 |
$50,000 |
| Low Support |
$110,000 |
$240,000 |
$500,000 |
| Medium Support |
$920,000 |
$1.7 M |
$3.1 M |
| High Support |
$2.6 M |
$4.5 M |
$8.3 M |
| Ultra High |
$4.7 M |
$8.4 M |
$15.4 M |
If MARKETING CONCEPT and PRODUCT/SERVICE Improved (Increase Concept +20 Points, Repeat Rate & Number of repeats by 30% and Revenue per purchase 20%) |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
| Ultra Low |
$0 |
$13,000 |
$70,000 |
| Low Support |
$160,000 |
$350,000 |
$710,000 |
| Medium Support |
$1.3 M |
$2.3 M |
$4.3 M |
| High Support |
$3.6 M |
$6.4 M |
$11.4 M |
| Ultra High |
$6.7 M |
$11.8 M |
$21.8 M |
|
| Listing #: USA.75.021809.006 |
Page 3 of 5 |
Date Posted: 2009-02-26 |
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
|
Additional Details
|
|
| Fair Market Royalty (%) |
| |
Conservative - 80% Odds
Royalty Percentage |
Most Likely - 50% Odds
Royalty Percentage |
Aggressive - 20% Odds
Royalty Percentage |
| At CURRENT State & Status |
2% |
2.7% |
3.5% |
| Sales & Marketing Support Level |
Annual Inventor Royalty Revenue |
3 Year Value
to Inventor
If 50% Odds |
| 80% Odds |
50% Odds |
20% Odds |
| Ultra Low Support |
$84 |
$210 |
$410 |
$640 |
| Low Support |
$1,400 |
$2,900 |
$4,800 |
$8,800 |
| Medium Support |
$10,000 |
$19,000 |
$29,000 |
$56,000 |
| High Support |
$28,000 |
$51,000 |
$81,000 |
$150,000 |
| Ultra High Support |
$52,000 |
$94,000 |
$150,000 |
$280,000 |
| Sales & Marketing Support Level Assumptions |
Sales & Marketing
Support Level |
Sample Numbers |
% Aware x
% Distribution
(Aware & Able) |
Inventor
Estimate
of Odds |
| % Distribution |
% Awareness |
| Ultra Low Support (Word of Mouth) |
5% |
3% |
0.2% |
60% |
| Low Support (Small Company) |
20% |
10% |
2% |
60% |
| Medium Support (Medium Sized Company) |
50% |
25% |
13% |
60% |
| High Support (Large Company) |
75% |
45% |
34% |
60% |
| Ultra High Support (Mega or Niche) |
90% |
70% |
63% |
50% |
|
Graph of EQUIVALENT (Awareness x Distribution) Combinations
 |
NAICS Industry Codes
For This Invention |
| 56291 - Remediation Services |
| 54171 - Research and Development in the Physical, Enginee... |
| 33531 - Electrical Equipment Manufacturing |
| 33999 - All Other Miscellaneous Manufacturing |
| 54162 - Environmental Consulting Services |
|
| Patent Numbers that apply to this Product/Service |
| 10/319,090 |
| 7,487,662 |
| |
| |
| |
|
| Inventor(s) PEDIGREE |
| Years EXPERIENCE in related industry |
81 |
| GRANTED Patents |
19 |
| Licensing Deals SIGNED |
8 |
| Innovations that have SHIPPED |
12 |
|
For USA Patents: Utility Patent = 7 digit number, Design Patent starts with D, Planet Patent starts with PP. Provisional Application "61/xxx,xxx", Non provisional application "12/xxx,xxx", Design patent application "29/xxx,xxx"
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CAUTION: This Merwyn Business Simulation Research Report includes no warranty or guarantee. Results and opinions should be considered rough and directional in nature. This is because the report is based upon inventor-supplied data and simplified modeling methods. If you are looking to invest, distribute, purchase or become involved with this innovation, in any way, we strongly urge you to validate the inventor data and sales forecasts BEFORE committing yourself or your resources. Merwyn Research, Inc. shall not be responsible for any liability or damages arising out of the failure to perform such investigation and validation. Changes in the concept description, product, pricing, or input assumptions will almost certainly change results.
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| Listing #: USA.75.021809.006 |
Page 4 of 5 |
Date Posted: 2009-02-26 |
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
|
Additional Forecasts for Other Countries
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|
 Annual Sales - Probability Forecast - for Canada |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
| Ultra Low |
$0 |
$730 |
$4,000 |
| Low Support |
$9,700 |
$20,000 |
$39,000 |
| Medium Support |
$81,000 |
$140,000 |
$230,000 |
| High Support |
$230,000 |
$370,000 |
$610,000 |
| Ultra High |
$420,000 |
$700,000 |
$1.1 M |
Assumptions: exchange rate of $1.00 US = $1.01083 CAN; population of 33,390,141
|
 Annual Sales - Probability Forecast - for United Kingdom |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
| Ultra Low |
£0 |
£660 |
£3,600 |
| Low Support |
£8,800 |
£19,000 |
£35,000 |
| Medium Support |
£74,000 |
£120,000 |
£200,000 |
| High Support |
£210,000 |
£340,000 |
£550,000 |
| Ultra High |
£380,000 |
£630,000 |
£1.0 M |
Assumptions: exchange rate of $1.00 US = £0.50458 UK; population of 60,776,238
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| Listing #: USA.75.021809.006 |
Page 5 of 5 |
Date Posted: 2009-02-26 |
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
|
