Competition kills Innovation?

Sunday morning I got an idea of making a electronic gas control switch with good features like timer, auto cut off etc for our normal house hold gas stove. We all have experienced many incidents of over boiling, forgetting some thing kept on it etc.

This switch I think will not cost more than Rs750/- to make. When i asked my mom about at what price will u buy it? ..she said around Rs2000/-. I didn’t expect that. They know the need of it. We dont cook na. They do. I think they can judge it better than us. So why not make a product and release it?

I talked to my bro about it. He said once you make it every one will copy it. and that will drop the price and eventually you will not make even 15% returns out of it. May be he is true…But i am very unhappy on this situation. Do we need to stop innovation due to such situations? Do all those crores of women have to suffer with the so called present gas stove?

Forget about my Idea. Why didn’t any gas stove manufacturer didn’t came up with such thing. People are going for expensive microwaves etc because of such basic needs of auto turnoff, timer etc.? Am I missing some point here?

I dont think there will be any security issues. I think it improves security. Is any of you interested in this? Can we make a business out of it?