• Why are you different to other business incubators?

    The driving force behind IdeasNest is that many people who have ideas they’d like to share have no real interest in building or running a business. They simply feel that they have an idea worth sharing, and which could be picked up by someone else to develop. That way, no idea need be lost to the world.

  • But what if I do want to build a business?

    That’s fine, too. Get your idea submitted, and you will be able to indicate what level of involvement you would like. It’s also worth us mentioning that IdeasNest is part of a set of separate but interlinked companies that do offer you the opportunity to be heavily involved.

  • How much will it cost me to join IdeasNest?

    Joining is free – at the present time. That’s whether you want to join as an ideas creator, an investor, or both. We want to get people – like you – using the site, sharing ideas and making them become a reality. Longer term, we will be charging (modest) fees for people to submit or review ideas which will help fund the ongoing development of the site.

  • If it’s free, what’s the catch?

    There isn’t one. We want to create an active community, so the founders of IdeasNest have invested their own time and resources into making this a reality. The people behind the site are business people, but they also understand the value of social investment, and the desire to ‘give something back.’ That’s why we’re delighted to be partnering with RSA Fellows who will be reviewing some of the ideas to assess their viability as ‘social enterprises. Yes, sometimes there really is such a thing as a free lunch. Of course, we would like you to share your experiences with us as users of IdeasNest, so that we can refine and develop the site further.

  • I’ve registered as a member. Why are you after more information about me?

    We need to have additional data – a telephone number and an email address – so that potential business partners can contact you. We are also obliged to ask you for your date of birth, because we need to know whether you are over 18. For compliance with tax laws, we also need to know your address.

  • Is my personal data safe?

    Rest assured we keep all data very secure and will never pass it on to a third party without your consent. IdeasNest is based in the UK and adheres to all data protection requirements under GDPR. At any stage you can let us know if you wish us to close your account and destroy any data about you we might hold.

  • I’m not 18 yet. Does that stop me applying with ideas?

    Not at all. However, we do need to have approval from a parent or guardian.

  • I’m not a UK resident. Does that stop me submitting ideas?

    No, we welcome ideas from everywhere and everyone. However, IdeasNest is registered in the UK, and that’s where the relevant law will be applied. Being outside the UK shouldn’t prevent you from being matched with a suitable partner. However, both parties will need to satisfy themselves that they have taken all necessary legal guidance.

  • What happens after I’ve submitted my idea?

    You’ll receive an acknowledgement, and a Unique Reference Number (URN) which will enable you to track the progress of your submission. Your idea will then be visible on the website for other members to review, add their comments and get in touch with you directly.

  • What if someone wants to discuss my proposal in more detail?

    If someone is interested, they click to have more information about you, and at that point can contact you via phone or email.

  • How many potential investors are going to be looking at my idea?

    The number will vary depending on the detail and ‘appeal’ you add to your proposal. However, IdeasNest is actively engaged with encouraging a wide selection of organisations and individuals to join, so you may well receive a number of approaches very quickly.

  • How many ideas do you receive? I’m concerned my idea may be lost?

    Although we are receiving an ever-increasing number of ideas, rest assured everyone will be looked at. IdeasNest administrators are constantly reviewing all submissions, and if they feel they can do anything to enhance the appeal and make your idea more visible, they will. It’s all part of the service.

  • What if someone is interested in my proposal?

    If they wish to discuss the proposal with you, they will advise IdeasNest and your contact details will be sent to them. (That’s why we always recommend you have an up to date mobile number and email address on your profile so that there is minimal delay in contacting you.)

  • How do we discuss terms to take the project forward?

    Although every relationship will be different, you will have already indicated what (if any) involvement you want in your idea, and that is made clear to your ‘date.’ However, investors’ membership of the site gives them access to recommended contracts and agreements which can be used by both parties.

  • How much should I expect to be offered?

    Unfortunately, we can’t give you any figures; even with our growing collection of case studies, the ‘commercials’ are normally kept secret. However, there are a couple of things to think about. Firstly, much might depend on what level of involvement you selected; if you’re willing to put your own time, and even money into a project, you’d be entitled to a larger share of the rewards. On the other hand, if you are offering just the idea, and want no further involvement, well expect a far smaller offer. After all, there’s a saying that success is ‘1% inspiration and 99% perspiration.’ You may well be offered no upfront money, and just a tiny percent of any future success, that could take some time to come through. However, you don’t have to invest any more time and effort at that stage and carry on coming up with other ideas. And if you have lots of tiny amounts coming in from all your ideas, that can quickly mount up. Secondly, you may not want to make any money from the idea. If it’s just something you feel passionately about, just getting the idea into the right hands might be enough for you. IdeasNest – and our partnership withRSA Fellows – is the perfect vehicle for that.

  • What if I get approached by several would-be investors?

    Congratulations – your idea clearly has appeal! Just like a dating site, it’s up to you to decide how you want to move things forward. You can choose whether you want to be ‘monogamous,’ and stay with one person; or try several ‘dates,’ to see if there’s a better match. Generally, honest and ethical is the best approach for both sides. At the same time, do treat discussions you have with each party – especially if you are getting multiple approaches’ – with respect and confidentiality.

  • Do you give me guidance on what I should ask for/expect?

    Once you’ve been partnered up, all future discussions take place outside the IdeasNest system. Every deal will be different. However, if you’ve read the guidance notes, you’ll see that the choice of any future involvement is yours. The less involvement you have (which could include financial involvement) the lower your share is likely to be. However, you may want to use some of the other services within our network. Check out www.twelveronnies.com,www.ideasvault.co.uk and www.ideaspatch.co.uk.

  • What’s to stop someone looking at my idea and then going away and doing their own thing?

    Whilst we offer no guarantees that such a thing couldn’t happen, here are a few of the safeguards. (i) Because investors have to apply to see ideas, AND apply for your contact details, we have a detailed record of which investors have read your proposal. We choose our partners carefully, and all have signed up to our Code of Conduct. If there were any breaches of this Code, our investors would be banned. (ii) Most of our investors choose to be involved in numerous projects, so it makes no sense for them to behave illegally or unethically (iii) In the event of a deal being struck between the idea creator and a partner, IdeasNest receives a small share (provided by the investor) IdeasNest therefore has a vested interest in making sure every relationship runs fairly and would take action against any apparent theft of copyright or intellectual copyright. (IP) However, if you still have concerns, you might want to check out www.ideasvault.co.uk from one of our sister companies. Essentially, it’s a digital safe that records and timestamps your ideas before sharing them with anyone.

  • If I’m in discussions with a ‘date’, do I need to appoint my own solicitor?

    You shouldn’t need to, because the best interests of both parties underpins the principles of IdeasNest. However, you are certainly free to talk with a solicitor, and if you don’t have one, you can contact one of our partners, listed on the website.

  • What happens if I speak with a potential date, but we decide not to become partners?

    We always recommend walking away with a handshake and a smile, and remembering the saying ‘a no is just a no for now.’ Whilst you may not have been able to come to an agreement, use any feedback to refine the proposal, and know that IdeasNest will deliver another date soon.

  • What happens if we do come to an agreement?

    Congratulations. You can remove that idea from your profile on IdeasNest or, if in doubt, send us a message and we’ll do it for you. Remember, if things don’t go according to plan at any stage, you can always upload it again to the site.

  • I have an issue with another member of IdeasNest. What should I do?

    We’re sorry to hear there’s an issue. Send the details to help@ideasnest.co.uk and we will investigate

  • If I have any ideas, issues or complaints relating to IdeasNest, what should I do?

    We take all feedback – good or bad – very seriously. If you have any issues, contact help@ideasnest.co.uk

  • What if I have another question, not answered here?

    Just email us at help@ideasnest.co.uk, and we’ll be happy to help.

  • Surveys, why they are important?

    Surveys are a valuable tool for finding out information about your ideas. They can be designed to be a lot more specific than a free text comments section and can guide the respondent to help you in specific areas. We strongly advise creators to use surveys when researching ideas. There are many survey tools on the market but we will concentrate on the market leader, Survey Monkey. You can signup for a free account https://www.surveymonkey.com/. The free account should be sufficient for most types of survey. Here is an example of a survey template setup in Survey Monkey for Ideas https://www.surveymonkey.com/r/5R8XB2H.