Development of methods for creating more commercially successful applications and projects
Purpose and goal
The project aims, by development of a new method to create more commercially anchored and successful innovation projects and project applications, to create an analytical methodology made available as digital tools that will benefit SIPSTRIM’s innovation capabilities, researchers´ commercialization requirement understanding, and also increase societal benefits of innovation projects. The project fulfilled its purpose through the method “Innovation due diligence”, quality assurance through 3 successful test cases (obtaining funding) and digitization of the method.
Expected results and effects
The project has resulted in a method, “Innovation Due Diligence”, for assessing commercial potential of early innovations, as well as a digitally adapted educational materials available at www.innovationduediligence.com. Expected effect of this, the first consolidated method for analyzing early innovation ideas, is that more validated potentially successful projects receive funding, and that the quality of innovation projects is increased by taking commercial requirements into account and addressed these as a more integrated part of research projects.
Planned approach and implementation
The project has been managed through a collaboration between SIP STRIM´s program office, LTU Business and RISE. LTU Business has been responsible for the main parts of development; test cases, development of methodology and digitization of the same. RISE has served as a technology and research-focused counterparty, to validate and test the method, trained internal staff and spreading the results of the project. The composition has enabled a wide range of stakeholders to influence the project´s direction and quality.