Commercialising Innovation: turning ideas into real competitive advantage

Cumbria Innovations Platform – CUSP II. Commercialising Innovation. 10th December 9.15am – 12.30pm. This is an online event. For innovators to succeed they need to properly understand the market, the problem(s) their offering addresses, and why a customer will pay to make use of the innovation. This session aims to help the innovator better understand the requirements and the processes used to create an innovative outcome that meets customer needs and expectations. 1. During the first part of the session, you will learn about the need to establish objectives and bounds for your innovation, the market constraints on its development, the tools to use and the questions to ask in developing your understanding of the market. You will be introduced to the Lean Business Model concept. 2. The second part of the session focuses on understanding and quantifying the opportunity – introducing the ideas of Value and Return on Innovation. You will focus on selecting and prioritising different markets and sales opportunities as part of your innovation process and how to qualify each sales opportunity. On successful completion of the session, you will be able to: • Describe the strategic and operational objectives of your innovation project • Determine the resource requirements & the market constraints on your innovation project • Describe the key questions Innovators need to answer in developing a plan for their innovation project, and articulate the innovation process to find answers to these questions • Understand what constitutes a ‘business/sales opportunity’ and how to quantify each one. Please follow this link to register your attendance: https://www.eventbrite.co.uk/e/commercialising-innovation-registration-209735132427 Who should attend? This short online event is designed for SME* leaders and managers as well as entrepreneurs seeking to start and grow a spinout or start-up company. We look forward to welcoming you! *SME based in Cumbria with less than 250 FTE employees, turnover less than 50m euros, balance sheet total less than 43m euros.