Building an Innovation Marketplace
Staying ahead of the competition is vital for any company, be it a new venture or a well-established business. In a market where quality and value are expected as standard, innovation can provide your company with a competitive edge and sustainable growth. However, few companies have the combination of time, money and expertise to make their products more innovative. This is where Innvotek can help.
Innvotek supports hundreds of companies each year, taking them on the journey from new product concept through to market entry by:
- Establishing innovation as part of business culture, not just a one-off event.
- Helping create novel, protectable ideas for higher value products.
- Offering access to our network of experts to develop the new technology needed to realise these ideas.
- Offering access to public funding to vastly reduce the costs and risks of new product development
- Finding partners to help take new products to market
Innovation Project Management
Management of grant-funded projects is a time-consuming process, particularly if there are several partners.
Innvotek can assist you with the development of projects to satisfy the relevant programme’s rules and regulations. We have experts that understand the complete project lifecycle to provide comprehensive turnkey solution from project planning, business planning, financial management, monitoring and evaluation, transnational arrangements. Advice can also be provided on the strategic, operational planning of projects and future exploitation of the results. Innvotek can assist with the management and administrative tasks for running grant funded projects, to leave you free to concentrate on the technical side.
How Innvotek can help your organisation:
Create a robust innovation process
Making innovation part of your business culture
Launching innovative products not only improves your existing market share, it also gives you the opportunity to enter new, previously inaccessible markets.
Regardless of your industry sector, Innvotek can help you use innovation as a business growth tool. Making innovation part of your business culture can be daunting, so Innvotek has condensed the many complex aspects into a single repeatable business process. This enables the key skills to be easily transferred to your people to grow your in-house capability.
The three key phases are:
- Recognising and understanding the fundamental market needs
- Creating solutions to those needs
- Producing an implementation plan
The process has multiple entry points to suit your needs. For example, if your technology base is strong, we can help you to:
- Find new markets
- Identify the buying drivers of those markets
- Engineer your technology to meet those buying drivers
On the other hand, if your market is well-established, we can help you develop the cutting-edge technology required to meet your market’s demand for new, better performing products.
Regardless of where you enter the process, the goal is the same, to provide you with an intellectual property innovation platform to help you break free from your competitors.
Leverage access to technical resources
It is often the case that a new innovation will require expertise from multiple technology areas. Whilst this helps prevent competitors from copying your products, finding the right development team can be a challenge.
The ‘Open Innovation model’
Open innovation recognises that few companies have the in-house skills to develop all areas of an innovative idea. As such, it promotes collaboration, not isolation, as the best way to achieve your innovation goals.
Innovotek is a leading advocate of the Open Innovation model. We have created one of the largest scientific and engineering skills pools available enabling us to select the best possible combination of expertise for your needs, bringing them together into a team that is truly greater than the sum of its parts.