Here are the details of the e-mail I received from my local inventors group:
I'd like to introduce you to a new invention resource website.
We, like many other sites offer a host of patent resources. But the heart of what we offer is a new "American Idol" style on-line monthly inventors contest.
The contest begins 7-02-07.
There is no fee to enter. You must be an American citizen and your invention must be patented or patent pending. We do not encumber your invention in any way. You can enter other contest simultaneously.
1. Register to become a member. Free
2. Log in and post your invention.
3. Your invention is listed for public viewing for 3 weeks. During this time you can contact friends, relatives, co-workers, and associates and inform them you're in the Idea Next Step Invention Contest, and they should be prepared to log on and vote for you at the appropriate time.
4.Week four, the polls will open and the public(and fellow inventors if they choose to do so) will log on and vote for the invention of their preference. There is a $1.50 fee to vote.
5. The polls will close and the computer will eliminate all inventions except those who received the top 10 votes.
6. A panel of 3 independent judges will deliberate in an open source environment and eliminate all the inventions down from 10 to 2.
7. The polls will re-open and the public(and inventors if they choose to do so) will vote in the finals between the top two remaining inventions. There is a $1.50 fee to vote.
8. The polls will close and the computer will display the winner.
9. Afterward, the computer will randomly select one registered member and award them a free cruise aboard Carnival Cruise Lines.
The top two inventors will equally split 10% of the contest revenue generated in round one.
The champion will receive 50% of all remaining revenue from both rounds one and two.
There is NO limit to the potential winnings. Participation will determine the cash award. All voting and judging will be open source. Everyone will see and know exactly where they are and how things are progressing. From start to finish the contest last about 30 days. The first Monday of the next month the contest begins anew.
We've just begun our advertising on google,msn, yahoo, inventors digest and more. However, word of mouth is the most effective form of advertising. If you are interested please register for free and let your fellow inventors know about our site.
If you are interested in a role promoting our site please contact us. There is a very exciting opportunity available.
For complete details please visit us at http://www.ideanextstep.com
FYI I have not checked this out yet so I can't say if I would enter or endorse it. This sounds a lot like what BSG and a few other members were hoping to do with inventorspot.