From Inside Business By Sandra Pennecke

Steve Waddell was motivated by the daunting Harvard Business School statistic that 95% of new products fail.

So, Waddell, a Suffolk entrepreneur and inventor, created the “Idea to Product Summit,” a free virtual conference designed to empower entrepreneurs, startup founders, innovators and creative thinkers with the tools, knowledge and strategies to overcome the staggering odds. The three-day summit Feb. 21-23 will help guide participants from an idea to product launch.

“It’s for anyone passionate about transforming their product ideas into market success,” Waddell said. “And it’s designed to be an unmissable opportunity for entrepreneurs at any stage of their journey.”

From 10:30 a.m. to 5:30 p.m. each day, attendees will be immersed in learning, networking and collaborative opportunities. Waddell, known in Hampton Roads for the Nasoni water-fountain faucet, will serve as a summit host along with Tim Ryan, executive director of Innovate Hampton Roads.

More than 25 speakers from around the world will share insights on patents, grants, product development and market introduction. They include: Jason Feifer, editor-in-chief of Entrepreneur magazine; patent attorney and author Richard Goldstein; Paul Nolde, managing director of 757 Collab; Chris Heivly, co-founder of MapQuest; and Tiffany Krumins, founder of OPU Probiotics.

Krumins appeared on the pilot episode of “Shark Tank” in 2009, impressing Barbara Corcoran and securing a $50,000 investment for her product, Ava the Elephant, a singing children’s medicine dispenser.

“Tiffany’s story is a powerful example of how innovative ideas, when executed with precision and passion, can achieve remarkable success,” Waddell said.

An emphasis on crafting compelling narratives to capture the interest and backing of potential investors will also be explained.

Waddell is also the author of the newly released “Valuepreneurs: The New Rules for Launching Products, Building Your Business, and Achieving Your Entrepreneurial Dream.” He said he is committed to reducing failure rates and fostering a thriving community of successful entrepreneurs.

“Whether you’re a seasoned entrepreneur looking to scale new heights or a newcomer eager to make your mark, this summit is where your next chapter begins,” Waddell said.

For more information, visit here.

Sandra J. Pennecke, 757-652-5836,