Research

It is important to assess the commercial and/or industrial viability of an idea, prior to preparing a business plan.

Key aspects of any concept, be it a new technology, product, process or service need to be carefully appraised at the early stages of development to ensure that the:

  • idea is marketable   
  • business is profitable

This saves time and money later on.

‘Ideas Assessment’ Package

At Ideas Den we have developed our own ‘idea assessment’packageto validate ideas efficiently and at low cost to you. Thispackage which includes a written ‘action plan’ of your concept, focuses on three key areas:

  • Innovativeness of the Concept.
    • How unique is the concept?
    • Is there anything similar already available in the marketplace?
    • How can it be protected against circumvention / coping?
    • Is it patentable?
  • Marketability of the Concept.
    • What are the key applications of the concept?
    • What are the markets for the applications and routes to market?
    • What are the market price ranges?
    • What is the potential market demand?
    • How much market share could be achieved?
    • What does this mean in terms of volumes of sales and revenue to the business?
  • Costs of the Concept.
    • What will it cost to protect and take the concept to market including development and set-up costs?
    • How much will it cost to produce, sustain and maintain the cost of sales for the applications?

From this assessment, we can estimate the:

  • Gross Profit & Loss Projections, over a specific time period usually 3 to 5 years and
  • Funding Requirement (if applicable), over this period.

The resultant ‘action plan’ will be determined by these above factors.

The Price for this package is around £399 depending upon the advancement and complexity of your concept.