GeekLabs, the research and development branch of the well-known nerdy gadget shop ThinkGeek, has announced a new idea submission forum: the IdeaFactory. In its essence, the IdeaFactory is an interesting experiment in crowdsourced R&D, where the best ideas are made and marketed with the rest of ThinkGeek’s products, plus $1,000 and 10% of retail sales are given to the submitter.

If you have a wild idea and want to see it brought to life by ThinkGeek, all you need to do is submit a description and a picture or rendering of your idea. From there, if it makes it through the company’s selection process, you’re golden — that is, so long as you’re cool sharing 90% with ThinkGeek.

Ty Liotta, GeekLabs “Mastermind,” explains the reasoning behind the new program:

We always want to bring as much awesome to the world as we can. One of the ways to do that is make this process as easy as possible.

According to the company, the IdeaFactory is “its latest plan for world domination.” Clearly ThinkGeek has a lot of faith in the collective creativity of the masses, so pull out that idea notebook and send over what you can find. Keep in mind, this is the company that brought us the Sriracha Rooster Sauce Lollipop.

➤ IdeaFactory