Reduce risk and speed up time to market
The Innovation Integrator®
Transitioning from a great idea to a commercial success requires a substantial amount of innovation – the art or science of converting existing inventions and ideas into practical products or processes that can be used in everyday life. Innovation isn’t simply invention; it’s what you need to take an invention through to the market:
Through our many years of experience in helping companies confidently navigate all the steps to successful commercialisation, we have identified the key factors needed to progress your idea through to market. This has led to the development of our Innovation Integrator® model, a diagnostic business tool that evaluates your current capabilities in order to position you on the innovation landscape and identify innovation gaps in your company, product, process or technology. Gaining an understanding of your existing challenges enables you to focus your resources effectively, and is critical in ensuring that you create a successfully marketed product.
How it works
Whether you are an academic looking to reduce risk in creating a spin-out, a pharma company identifying the steps needed to progress a particular idea to commercialisation, or an investor assessing a company’s commercial viability, our Innovation Integrator model is an ideal tool to empower your decision-making. Our expert staff will work closely with you to assess your company, product, process or technology against 11 criteria that are crucial for effective innovation. The outcome of the assessment is an in-depth report that will position you in the innovation landscape and identify any underlying issues that must be addressed. This information can then be used to create an innovation plan – helping you to accelerate the innovation cycle and get to market sooner.
Each factor in the Innovation Integrator model is of equal importance, and only when brought together can successful innovation take place. Most commercialisation failures are not due to poor technology; they happen because one or more of these critical factors are overlooked. The changing influence of these factors as companies progress from idea to market is also a challenge. The process of scaling up and reliably manufacturing products to meet the requirements of end-use markets requires vastly different funding, assets and expertise than proof-of-principle benchtop experiments.
11 essential factors for every innovation
Regardless of the source – seed, angel, venture capital, corporate or public – money is vital at every step of your journey. The level of need and the type of funding changes throughout the innovation process.
At every stage of the innovation continuum, people are vital to the idea, its development and its delivery to market. The type and number of people change throughout the process.
A driving force within the organisation must champion the process or product at every stage to maintain momentum.
Equipment that can be used to assess, prove, scale-up and develop the product or process is essential. It can be too expensive for many companies due to the scale and the associated risk. Partnering with us provides you with assets that reduce the risk and costs associated with innovation.
There must be an actual or perceived need for your product or process to ensure continued demand once the product is launched. Sales and market planning will be essential for success.
Value and Price Combination
Your process, product or service must have a combination of price and value that makes it attractive to customers and consumers. It must meet a need and be seen as having sufficient value that the user is prepared to pay for.
In order to manufacture your product at scale and deliver it to market, you need a full supply chain that stretches from raw material to finished product.
Legislators and regulators have the power to support the adoption of your product – or to prevent its release. They need to be closely involved in your innovation to ensure you are able to sell your process or product.
Third party recognition is vital for the market to see your proposition as viable.
This is a constant need and driver – from the initial discovery or intervention to continuing academic support as you navigate the steps to commercialisation.
Protecting the ideas that underpin your process or product is as important as the concept itself. From patents and copyright to registered design and know-how, your intellectual property must be safeguarded.
“The CPI Innovation Integrator diagnostic assessment has been very useful on a number of levels. It has helped us to appreciate the many aspects of the business that need to be addressed in order to be successful, allowing us to put together a coherent and focused commercialisation plan with a supporting road map. It has also helped underpin the rationale for what additional funding we need and how it will be used. Finally, it has meant that CPI has been able to provide us with the support we need to realise our full potential.”
“As an academic, you tend to think that everything you do is great. Therefore, it was crucial to have someone to pick holes in the plan and ask, ‘is this actually what the industry wants and does this fill a commercial need?’ That is what the CPI Innovation Integrator assessment was really good at doing. I found the entire experience to be invaluable.”
Dr Steven Cobb, Founder, PepMoTec