Support to innovators Improve the market readiness of your innovation:
How does an innovator benefit from the BRIGAID Business Development Approach? BRIGAID helps innovators turn their technologies into marketable products and services.
- Enabling innovators to identify and analyse their target markets
- Assessing whether a clear market need for the innovation exists
- Preparing innovators to communicate strategically with their target markets
- Facilitating the development of a suitable and sustainable business model
Completing the six steps of the BRIGAID Business Development Approach does require some time and effort from the innovator:
Estimated time commitment: 0.5 hours max.
2. Quick Scan
Estimated time commitment: 1 hour max.
Note: A result may be that the innovator has to do more preparation before the next phase can begin.
3. Business Workshop
Estimated time commitment: 12 hours over 2 consecutive working days.
4. Market Analysis Framework (MAF+) Assessment
Estimated time commitment:
1-2 hour phone calls fortnightly plus 2-4 hours preparation/desk research over a 6-8 week period.
Total commitment of 18-48 hours over 6-8 weeks.
5. Follow up
- The business plan is incomplete and the innovator should improve it based on the feedback provided;
- The business plan is market- and investor-ready and needs no additional work; or
- The business plan is complete but the innovation is judged to have insufficient market potential. The innovator is advised to cease further developing the innovation in its current form.
Estimated time commitment: Case-specific, ranging from 0 to 40 hours.
6. Wrap up
Estimated time commitment: 4 hours.
The BRIGAID Business Development Approach builds the business capacity of innovators, widening their range of vision to identify actual market needs and providing an estimation of market potential for their innovation (go/no-go advice).
It gives innovators access to the MAF+ online portal and instructs them on how to exploit its functionalities. It also provides practical outputs, including a complete business plan reviewed by experts and the means to update this business plan independently in the future.