You have creatively and imaginatively come up with a cool idea, concept, invention, innovation, technology, board game or App that you may have been tinkering with that you think solves a problem, potentially fills a new market opportunity or is simply a new innovative product or service. Or, you have gone further and mocked them up into a sample or cool functional prototype, now what?
There is often the need to run it by someone who is experienced and qualified in providing independent, unbiased and objective feedback. It’s often difficult to get these attributes through friends and or business associates or professionals, particularly if your idea is not simple or straightforward.
We’ll look at your small, not so small, big or huge idea for any industry and quickly work out whether it has commercial merit or is technically possible by carrying out very thorough screening and assessments, number crunching, comparative prior art and product research, costs and pricing assessment, market research and validation by speaking to potential buyers to see if they want what you are proposing. Why develop or commercialise an idea, concept, invention or innovation to market if no one wants it?
We’re all about avoiding a garage full of stuff that you can’t sell, so to avoid this we have packaged up the following practical independent due diligence services.
- 01 Feasibility Assessment
- 02 Comparative Product Research
- 03 Invention & Patent Prior Art Search
- 04 Design Prior Art Search
- 05 Trade Mark Prior Art Search
- 06 Product Pricing (W/S & RRP)
- 07 Market Research & Validation
- 08 Targeted Marketing
- 09 Sketch, Draw & Illustrate (2D & 3D)
- 10 Make, Model, Mock Up
- 11 Industrial Design & Development
- 12 Sample or Prototype
- 13 Develop Specifications
- 14 Grants, Awards & Tenders
01 Feasibility Assessment
You have cleverly created a cool idea, concept, invention, innovation, technology or gone further and registered it as a Design and or Patent, but now what? Friends and most service providers are not trained or experienced in providing independent professional Commercialisation feedback. So, the first step with our Clients is to work out whether their clever idea actually has legs, or in technical speak, whether it has Commercial Merit, ie can it be done and are there willing customers? We do this by carrying out the following full blown Feasibility Assessment where we try to find any Fatal Flaws before you spend too much time, emotion and of course money.
Feasibility Assessment is about our experienced and qualified commercialisation specialists working with you to provide thorough independent, unbiased and objective research and assessment in the following vital aspects relating to your innovation or new venture to screen whether it has enough commercial merit to move forward or not to market. We spend as much time as needed in researching your innovation or new venture beforehand, then organise a time with you and your colleagues to facilitate a lively interactive process going over the results of this research and the following areas that typically runs for over 60 minutes:
- Technical assessment (if needed) to whether your idea will work;
- Value chain assessment of where potential value and margins are;
- Costs to build or set-up;
- Price to sell, i.e. what is your selling price within Australia and internationally?
- Competitor and substitute research, i.e. who is or could sell your idea or something similar?
- Intellectual property (IP), what have you got, can it be protected?
- Market research to assess which markets are available if any;
- Operational requirements assessed for what is needed to get your idea to identified markets;
- Business and financial modelling to assess varying forecasted financial scenarios, DCF and NPV; and
- Commercial viability, i.e. in light of the above is your idea feasible? Refer to our iNNOVATiON flow chart.
Often through this rigorous screening process we can find the ‘fatal flaw’ that renders an idea unworkable in its current form, which we can generally be overcome by altering the original idea. This process is vitally important in identifying and minimising risk and increasing the commercial probability for a product or business idea, where the results are generally met with “oh, I’m glad we did this” or “this is exceptional feedback”.
The key outcome of this independent screening process where we are not caught up in your thinking, is that you become clearer on what you have developed so far, what may still need to be done and where you need to go. You gain confirmation, validation and confidence in where you are at currently and whether you should progress further to market or not.
If you have:
- One or a series of similar innovations or products,
- A description about your innovations or products, and
- An image, sketch or drawing of your innovations or products,
then for our reduced fee of $550 $499 we will carry out this important due diligence service within 2 days of receipt of payment, so why wait, find out whether you have a cracker idea or not by clicking on the Buy Now button below !