Nikola Institute Makes SimProduct Report Free in 2021

Beginning in March 2021, the Nikola Institute will make SimProduct™ available free of charge to qualifying small businesses and individuals.

SimProduct™ is an artificial intelligence tool developed by HIT Laboratories to assess the performance metrics of new product concepts. It enables inventors to receive a “meta-analysis” of their product concept without divulging key operational details. Results include basic feasibility, profit potential, marketability, distribution, and competition aspects.

The Nikola Institute is expanding their invention pro bono program to make it compatible with the USPTO’s Patent Pro Bono Program. Significant changes include adding fee reductions for micro and mini entities, and offering free SimProduct assessments and advisory services. Limited access begins in October 2020, with general public access starting March 2021.

The Nikola Institute provides early-stage advice and development services to new product innovators. Commercialization services are provided by a network of independent consultants with expertise across industries and product categories.