A 1998 Ball State University graduated plans to bring his invention to the public after becoming a finalist in the Visa "Ideas Happen" contest. Matt Griffin, who graduated as an architecture major, was leading the online poll with his creation, the Baker's Edge baking pan, when it closed on Thursday. Griffin, who works for the city of Carmel as an urban planner, is currently finalizing the manufacturing plans for the invention.
"I'm ecstatic," Griffin said. "People liked the idea, but we've never had that many supporters."
Griffin said he has already felt the effects of placing in the contest, even though winners will not be announced until Jan. 14. Griffin has already received numerous offers for buy-ins, a total of $300,000 in venture capital, none of which he plans to accept.
"It's exciting that so many people believe in this," Griffin said. "Just being featured on the MSN homepage helped, we got 500 hits to our Web site that day, the previous record was 48."
As a result of the exposure Griffin is being featured in an upcoming issue of Canadian lifestyle magazine, Menz Magazine, and has received offers for interviews for their Montreal, Quebec based radio branch, Menz Radio.
Griffin's creation, a baking pan with a series of raised interior walls that increases surface area and allows foods to cook up to 40 percent faster, had received some attention early in its creation, but not enough to facilitate its manufacture.
"It's a little less risky once I've gotten this much exposure," Griffin said.
According to Griffin, the $25,000 will be used to manufacture the pans and fund a marketing blitz planned for around Mother's Day.
"We'd like to have them for sale now," Griffin said. "But it's looking more like April now."
Griffin says that the key to entrepreneurship is persistence. After many failed attempts at selling the Baker's Edge to various house ware manufacturers Griffin struck gold in the "Ideas Happen" contest.
"First off, if you have an idea then stick with it," Griffin said. "When you start out, you're an island. You're on your own and you have to keep going. Secondly, everyone is surrounded by resources, you just have to be smart enough to use them. I've got a friend who's a graphic designer, a couple of free lawyers. You just have to go out and make connections."
Griffin said that he does not plan to stop with the Baker's Edge and is tentatively planning bringing other inventions to the public.
"It's fun for me," Griffin said. "It's not work."
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