Effective post-project commercialization and sustainability of the InnoRate results can only take place if we start developing a clear deployment plan from the early stages of the project. Next to the design of the InnoRate innovation assessment and rating methodologies, the project team created different business models targeting our main stakeholders during the 2nd semester. The first phase of the business modelling exercise has strengthened the business case for InnoRate and shows that the elements are in place for it to be successful in the niche market of technology assessment and rating services.
In particular, a thorough market analysis was carried out, whereby the team used the Five Cs’ marketing analysis tool, assessing the context, company, customers, collaborators and competitors of InnoRate. This information forms the basis upon which we designed 3 different business models, with each one focusing on a different customer segment and its respective needs. The main target groups that were identified as having the most commercial potential are private investors, technology transfer offices and innovation intermediaries. Also, InnoRate foresees to provide incentives to nurture the uptake of its services by tech-driven SMEs, recognising their importance in bullet-proofing its value proposition.
During the upcoming semester, we will be validating and improving these business models with the help of our Advisory Board members as well as relevant stakeholders from our network.
If you are a subject-matter stakeholder (investor, innovation consultant, entrepreneur, etc.) and would like to get involved, please feel free to reach out to us via the following email address: firstname.lastname@example.org