47 Best Companies That Pay For Innovative Ideas in 2021

Companies That Pay For Ideas: Have you recently had that eureka moment and wondered if there are companies that pay for ideas? Is your invention or business idea groundbreaking and simply needs to be in the world?

If you’re the kind of person that has amazing ideas all the time but is never sure how to put them into action to make some extra money for yourself, this article on Companies That Pay For Ideas could be just what you need.

companies that pay for ideas

47 Companies That Pay For Ideas

Here is the list you have all been waiting for, companies that pay for ideas – or at the very least will likely engage in a discussion with you to further the idea along the developmental process.

In order to make this list slightly more navigatable I have sectioned it out the Companies That Pay For Ideas into categories:

1. Industrial

This list of companies broadly operates in the industrial sector and produces products such as tools, hardware, and moldings.

If you feel your invention idea fits into this niche then these companies are worth reaching out to for further discussions.

2. Tailor-Made Products

One of the leading custom injection molding companies in the Midwest.  They began with affordable high-end kitchenware products and have now, as a result of working with inventors, expanded their range to include pet and hardware. 

They are focused on penetrating multiple marketplaces and encouraging a drive for innovation.

Tailor-Made Products like you to be as complete as you can with your product and to be open to collaboration.

3. Worksafe Technologies

Providing engineering-supported products and services they are in the business of protecting your business. They live off open innovation preferring elegant and simple solutions.

The company often deals with everyday inventors and designers, who have managed to identify a problem that is not currently being satisfactorily solved.

Worksafe Technologies prefer to work with ideas that already have some proof of success with real users and not just an idea on a piece of paper. 

4. Easy Do Products

A British manufacturing company that primarily focuses on household cleaning products.

They have the full capability to take a product from concept right through to production. Most of their output focuses on injection molding but they are open to ideas that fall outside of this arena. 

5. Tovolo

Offering a wide range of innovative and stylish designs this company actively engages with public submitted ideas via its website. Categories for design ideas include cleaning, tools, food prep, outdoor, frozen, and beverage.

When submitting an invention or design suggestion to Tovolo you must ensure your idea has a published patent number, otherwise, the suggestion will not be reviewed. 

6. BD

This company has been leading in healthcare safety and technologies for more than a century and operates in sectors such as Diabetes Care, Medication Delivery Solutions, Pharmaceutical Systems, and Surgery.

They accept ideas in the forms of drawings and literature only and must be sent via physical mail. They typically take between 4 and 6 weeks to process ideas and respond. 

7. 3M

This is a huge multinational conglomerate and is a science-based technology company committed to improving lives and doing business in the right way.

They have a large foothold in worker safety, consumer goods, and US healthcare. You can submit your ideas directly on their website but I do not advise this method.

The company does accept unsolicited ideas but automatically owns your idea upon submission – as per their terms and conditions. You should instead reach out and ask for an NDA to be signed before disclosing any details. 

8. Crown

Headquartered in Philadelphia, Pennsylvania, Crown is a company that manufactures metal beverage and food cans, aerosol containers, closures and capping, and specialty packaging.

They are the leader in metal packaging technology and have operations in 47 countries. They have an open innovation portal and have keen interests in shelf-life enhancement, improved manufacturing, new packaging technologies, and sustainable packaging.

You can submit ideas directly on their website and they aim to respond within 30 days of receiving material.

9. Hillman Group

Initially a fastener company, now a top provider of complete hardware solutions, offering a wide array of products. 

Claiming to simplify the hardware buying experience and an industry leader to top home improvement and local hardware retailers.

Hillman Group is happy to utilize ideas that inventors bring to the table especially when they are backed up with some knowledge and experience.

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10. Hyde Tools

A leader in specialized hand tools for homeowners, trade professionals, and industrial users.  Hyde is often the brand of choice for many and the name is synonymous with innovation.

They love to work with inventors who have a passion for their ideas, especially when they have real-life experience with them.

11. Bosch

Bosch is a German multinational technology and engineering company and has operations in consumer goods, mobility, technology, and energy.

This huge company is always looking to expand its portfolio of world-renowned designs through collaboration and cooperation. They even have a dedicated innovation submission portal where you can send your ideas. 

12. Kikkerland

This company prides itself on innovative and unique products designed to solve problems for its customers.

Kikkerland Design offers the world’s largest collection of ingenious items combining form, function, and delight.

They have a direct submission portal on their website for your ideas and pay royalties up to 5% for designs that are chosen to be produced.

13. Consumer Products

These companies mainly focus on consumer products and include some large multinationals as well as smaller operations.

14. Design Ideas

This is a product development and wholesale company that ‘plays hard’ to successfully create a full range of functional, fashion-forward, moderately priced home and office accessories, for the design-conscious consumer.

They have an in-house design team but are happy to take outside submissions. Design Ideas believe in teamwork to create and deliver wonderful products for all to share.

15. Henkel

This is the parent corporation of the producers of Right Guard and Dial soap. They also operate the Henkel Partnership Program. This is a contest that they sponsor for budding inventors and innovators in technology.

They also encourage ideas that are environmentally friendly.

16. Sharper Image

This is a company that focuses on staying ahead of the game when it comes to technology, toys, and innovative gadgets.

They assign teams to do nothing but sift through the ideas that are sent to them by new inventors.

When you submit a new idea to Sharper Image, the company asks that you send them an email with a description of your product, as well as a picture or video.

17. Dorman Products, Inc.

This company specializes in hardware, houseware, as well as automotive products. Dorman is mostly a distributor of products but they are always looking for new items to add to their lineup.

If you are already producing your product, you can send them a 3D sample for consideration by their review team.

18. Jokari Home Solutions

If you are looking to sell invention ideas that fall under the category of houseware, Jokari Home Solutions is always looking for innovative ideas to bring to the market.

For those who have developed a new kitchen gadget or home organization product, you’ll want to consider submitting your idea here.

Jokari Home Solutions has a form on their website where you can fill out your information and submit it for consideration.

19. Coastal Pet Products

This company is dedicated to bringing the best pet collars and leads to the consumer. For pet lovers, this may be the perfect place to pitch your idea.

They are always looking for new product ideas that make life better for pets and their owners. If you have an idea for a new type of pet collar, this company will welcome the chance to look at your invention ideas.

20. Hearlihy & Company

Hearlihy & Company produces educational supplies for everything from drafting tools to Life Education and technology.

If your invention falls in this category, this would be a good company to submit your idea to.

21. Builders Inventions

If you are a tradesman and have an idea for a new tool, there are companies that buy ideas, such as Builders Inventions. This company specializes in producing tools that are invented by builders and tradesmen.

If you have an idea for a tool that would be useful for contractors and builders to use on their job sites, you can contact this company to ask about the process of submitting your idea.

22. Coleman

If you have an idea for a gadget that would be useful for outdoor recreation, Coleman is one of the companies that you will want to look at. Coleman produces outdoor products such as camp stoves, tents, lanterns, and even camp trailers just to name a few of their products.

If you have an idea for an outdoor product that would fit with this company’s offerings, you can contact them and offer your idea for review.

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23. Wild Planet Entertainment

Wild Planet Entertainment produces toys that encourage children to be creative. Their products are meant to promote a child’s imagination and encourage them to explore the world they live in.

Wild Planet Entertainment is dedicated to manufacturing products that are safe, as well as durable, and fun for kids of all ages.

If you have an idea that fits within this company’s spectrum of products, you are encouraged to contact them and ask about their idea submission process.

24. Pro Performance Sports

This company produced the best in sports training products. If you have an idea for a product that you believe would be a good fit for Pro Performance Sports, you are encouraged to print a copy of their submission form and return it as directed on their website.

25. Dewalt

Dewalt is a leading hardware tool producer and the company’s online submissions system is always open for new product ideas to be put forward.

26. Cal-Van Tools

Cal-Van Tools regularly works with independent inventors when developing new automotive product ideas. The submission form can be found on the company website and they offer competitive royalty rates to inventors.

27. Avery

Avery has recently teamed up with Evergreen Innovation Partners to make it easier for inventors to present their product ideas to the company. Avery specializes in the production of office supplies, so if you have an idea in this area this could be a good place to submit it for consideration.

28. Mattel

If you have an idea that you feel would fit in with the famous Mattel brand, you can submit this through the company website. Ideas for new toys, games, and baby gear are all accepted.

29. Unilever

Unilever is a huge corporation and one of the biggest product developers in the world. This company specializes mostly in food and hygiene products and they are always looking to partner with new inventors. Ideas can be submitted through the company website.

30. Nautilus

High-quality fitness equipment is the focus of Nautilus. They operate worldwide so if your idea is picked up, there is potential for it to be sold to a global market. Submit your ideas through the Nautilus website.

31. Wilson 

Wilson produces sporting goods and equipment and accepts new product ideas through their website. The submissions are regularly reviewed and they will be in touch if they feel that yours fits in with their brand.

32. Fila

Fila receive a huge number of new product ideas and designs every day. However, many of these go unchecked or unused as Fila specifically states on their website that the only ideas they will consider must be patented. They do this to prevent any confusion around compensation and it also serves to further protect the creator. If you have a patented idea, you can send this to Fila via mail.

33. New Balance

New Balance has adopted a very similar ethos, also due to the high volume of unsolicited ideas they receive on a daily basis. Patented ideas for new products can be sent to New Balance using their online submissions form.

34. Knight & Hale

Knight & Hale are hunting equipment manufacturers and are always on the lookout for new, inventive product ideas. To submit your ideas to Knight & Hale, fill out their online form and wait to hear back.

35. New Soda

Sending your product ideas to New Soda couldn’t be easier. Simply send the product details off to them through their website’s submission form. They look for products in a range of different categories, although currently, they specialize predominantly in kitchenware.

36. RB

If you have a great idea for a new health or hygiene-related product, sending this into RB might result in your product being manufactured and sold in various countries across the world. Submissions should be made through the RB website.

37. Escalade 

Escalade is another sporting goods producer and welcomes new ideas from independent inventors. You can send your idea to them through their website or, alternatively, you could give them a call.

38. Spectrum Brands

Spectrum Brands is a consumer products company that owns a number of high-profile global brands. They accept new product ideas in a huge range of categories such as home and garden, hardware tools, and pet care.

39. WillowWood

WillowWood works alongside clinicians and amputees to develop high-quality equipment and medical products. Ideas for new products or developments on their current products are accepted by the company and can be submitted via an online form.

40. DJO

Products designed to aid post-surgical rehabilitation and orthopedic care are the focus of DJO Global. If you have an idea that you think could revolutionize this industry or make a difference to someone’s life, these can be sent into DJO using their submissions form.

41. Medtronic

Medtronic also develops products within the medical field. If you have a product idea that falls within this category, you can send this to Medtronic via email or mail.

42. Applied Medical

Applied Medical is also committed to developing new, innovative products that can positively impact the work of healthcare professionals and in turn, the lives and wellbeing of their patients. They welcome new product ideas or enhancement ideas for their current product range, and these can be submitted on the company website.

43. Hershey

Hershey’s accepts new ideas for food products, although it is unclear from their website how their payment process works, and their terms and conditions state that not all ideas will be paid for. Bear this in mind and perhaps consider contacting Hershey’s directly to request an NDA agreement before sending over your ideas.

44. Coca-Cola

As one of the world’s largest multinational companies, the Coca-Cola brand is recognized globally. If you have a great idea for a new food or drink product, or ideas on how they could reduce plastic waste or revolutionize their products, get in touch with them through the company website.  

45. Lear

Lear specializes in automotive technologies and develops new, innovative initiatives in this field. If you have an idea for Lear, they ask that inventors send these in through their website.

46. FastCap

Fastcap is a successful product developer and retailer, providing woodwork and cabinetry as well as equipment and tools.

They receive a high volume of idea submissions and estimate that one in a hundred proves successful.

To submit your idea, you’ll need to record a video outlining your invention and upload this through their website.

47. Play with a Purpose

Play with a Purpose produces children’s toys that are designed specifically to help with developmental learning and the refinement of motor skills, balance, and physical ability.

If you have an idea that you think could be valuable, send it over through the Play with a Purpose website.

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Companies That Pay For Ideas: Protecting Your Ideas

Patent vs. No Patent?

Having your idea patent-protected means that the invention cannot be made, used, distributed, imported, or sold commercially by any parties without your formal consent. Essentially, once your idea is patent-protected, you are its sole owner and have exclusive rights to any developments.

Whether or not you need a patent will depend on the specific agreement you are entering into. The company you’re looking to sell your idea to might already have measures in place to protect you and your rights, or alternatively, they might only accept patent-protected ideas as a way of preventing any confusion in the future.

If the company you are approaching with your idea does not give any details as to their specific protection measures, it’s always best to patent your idea just to protect yourself and reduce the risk of having your idea stolen.

Closing Thoughts on Companies That Pay For Ideas

If you want to get paid for ideas, then you’re going to have to put in some hard work. Most things worth having though require hard work, don’t they?

So if this is something you’re really interested in, consider contacting one of the Companies That Pay For Ideas in our list above.

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