Saving for later was something I always enjoyed doing in my youth. In my birthplace, Zuidelijke IJsselmeerpolders, we used to go to the local bank once a year to do this. They always had an enticing little gift waiting for us back then. Now, years later, I'm still with the same bank and I recently even became a member of the Westland region's Members' Council.
How it all started: the piggy bank
As children, my brother and I were able to earn a bit of money every now and then by selling things we had grown in our vegetable patches, helping out on the farm, and doing well at school. Our piggy banks used to gradually fill up with coins throughout the year. We would occasionally even put in a 5 or 10 guilder note, although that wasn't easy because the slot of the piggy bank was secured with sharp metal teeth that had to be pushed aside first.
When our piggy banks were full, our mother used to take us to the bank where they opened them up with a special key and then all the coins were put into a cash counting machine. I was never too sure about the whole thing because to top it all off my hard-earned savings would be put into some sort of magical pneumatic tube system and disappear into the ceiling. On the upside I was always allowed to pick out a nice little gift from the bank.
Years later: the Members' Council
Even now years later I am still with the same bank. They did well all those years ago by offering those nice little gifts. When I saw a notice saying that they were looking for new people to join the Westland Members' Council, I immediately applied. I think it is great that I am now in a position to not only help inventors protect their inventions but also act as a sparring partner for the bank as a member of its Members' Council. And especially at a bank rooted in the agricultural and horticultural sector. After all, a significant proportion of my clients come from this sector.
Inventions and funding
The agricultural and horticultural sector is actually one of the Netherlands' most innovative ones. This year too, there are already lots of great inventions we have been asked to protect, ranging from ingenious algorithms to control climate systems, new eco-friendly labels to improved biological pesticides. To ensure that all these inventions actually come to fruition you need money. Nothing ventured, nothing gained. Sometimes people use their savings for this. Fortunately, there are other ways of getting the required funds. In practice, an investor, financier or principal banker will often play an important role in this. The funds may take the form of a loan, equity participation, crowdfunding or a contribution from an innovation or incentive fund.
Sharing knowledge and experience
Hopefully, I will be able to form a useful link by sharing my knowledge and experience as a patent and design attorney on the Members' Council. Moreover, in this new role, I will be able to learn more about the flows of funds involved in the funding of innovations. I hope that my clients will be able to benefit from this in turn.
Inventions at risk
A warning shot - when you sit down with a financier or bank, don't be surprised if they ask you whether the intellectual property rights of your invention have been properly protected. That is because a patent application, for example, will ensure that you get an exclusive right to your invention so that it cannot be copied by your competitors. It also shows that you have arranged the protection of your invention professionally. If you have failed to do so anyone will be able to copy your idea which makes you a lot less interesting to someone from the financial market.
Feel free to get in touch
You can always get in touch with me in my brand new role as a member of the Members' Council. Later on this week I will be taking part in a Bootcamp day during which I will get to meet the new Director of the Westland region and my fellow Members' Council members. We are going to be spending the day working on a vision for the future. I am looking forward to it!
