Inventor Attempts to Raise $70,000, Raises $4,700,000

Inventor Attempts to Raise $70,000, Raises $4,700,000
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  • Chris Baxter - Managing Director, Patent & Trade Mark Attorney
  • Managing Director, Patent & Trade Mark Attorney

Father and son Cedar and Stuart Anderson, two new Australian inventors, have recently made the most significant innovation in beekeeping since 1852. “Flow”, their new automatic beehive device, allows the harvesting of honey without opening the hive or disturbing the busy bees! Just turn on a tap and out comes the honey. But could the Andersons have ever guessed at the huge influx of interest, media and investment that would hit their honeypot?

Flow’s original fundraising campaign on Indiegogo set out a modest attempt to raise $70,000.. and it seems quite likely to close at over $5,000,000 by 5 April 2015. Why so many $? Our guess is that there are some commercial operations (e.g. farms) that are essentially using the campaign to order their “operational machinery”.

It appears the Andersons finalised their intellectual property claim right at the last minute, lucky for them! From IP Australia records, they have filed at least 1 standard patent application and then 2 provisional patent applications just days before launching their Indiegogo campaign. These intellectual property filings form a great international IP foundation for future business expansion.