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The move is part of programme launched in February at Toy Fair 2018 called Target’s Open Innovation Project.

“I am convinced that the strong toy industry growth so far this year has been at least partially supported by the empathy that people felt towards losing a store like Toys R Us,” said NPD’s Juli Lennett.

Making Things’ innovation services include implementing strategic design-led thinking for businesses as well as hosting workshops for companies looking to ignite creativity within their teams.

Nominations close on Wednesday, August 15th, with winners announced during this year’s ChiTAG week, at a special ceremony held on Friday, November 16th.

“Innovation is everything in the toy industry and it’s lovely being able to support inventors at the early stage to make sure great ideas don’t miss their mark,” said Fundamentally Children’s Amanda Gummer.

“We’re thrilled to extend our relationship with Disney to now work with the amazing team at Marvel to give kids the skills – and the confidence – to change the world,” said Ayah Bdeir, founder and CEO of littleBits.

Market intelligence specialists The Insights People has launched the new platform after soaring demand from the US market for access to real-time insight on trends.

The build-it-yourself wireless wand shows fans how to code and create, as they flick and swish through more than 70 challenges inspired by the Wizarding World.

Lesley Singleton, the co-founder of Board Game Club and MD at Playtime PR, will chair the Board Game Design Panel.

“We see a lot of opportunities, but there has been a big discrepancy between our financial performance over the last few years and where the company should be,” said Ynon Kreiz, chairman and CEO of Mattel.