We’re only four weeks into 2012 and can already say it’s off to an exciting start here at Edison Nation. We’ve turned things up a notch with several unique, new searches and have many more on the horizon that we can’t wait to reveal! One such search is our newest Innovation Challenge with sought-after speaker; founder of the iconic apparel brand, FUBU; and one of the “Sharks” on ABC’s hit series, Shark Tank, Daymond John!

The Daymond John $1 Million Innovation Challenge has been a particularly exciting collaboration for us, not only because of the opportunities it presents for our members, but also because of its similar roots to birth of Edison Nation. As many may know, Edison Nation was established because of the great ideas of many of those who are now our members. Our team came in contact with so many inventors with fantastic ideas during each season’s casting calls for our partner TV show, Everyday Edisons. However, with the ability to choose only ten ideas for the show, that left out many others with great market potential — not to mention those inventors never making it to a casting call at all, due to travel restrictions and other circumstances. That’s where the idea for Edison Nation came in. We decided to create a platform where inventors from all over the world could, not only submit ideas right from the comfort of their homes, but connect with opportunities from major retailers and manufacturers seeking specific innovations.

As a judge on Shark Tank, Daymond has shared a similar experience. He and the rest of the show’s team of “Sharks” encounter several ideas, with only a small percentage able to be brought to primetime television. That’s why Daymond has joined forces with Edison Nation to create an avenue that will allow those additional innovative product ideas to have a shot at licensing and success in the market.

“I’m excited to work with an innovative community such as Edison Nation to share a critical path for everyday people’s ideas that can be brought to market and find commercial success,” says Daymond John.

This search is an open innovation challenge, meaning any product category is eligible and there is no limit to the number of ideas that could be selected. For those ideas that are chosen, Daymond and Edison Nation will invest up to $1 Million to develop and bring them to market.

To learn more about this search, watch the message below from Daymond, then head over to www.edisonnnation.com/DaymondJohn to submit an idea.