How to afford research
If you think that research can cost a great deal of money and time, then you are right. I have been to organisations where time seems to have stopped because research programmes seem to have made little progress for ten or twenty years. But you haven’t got the time for that! One of the important things to remember is that research can be applied to your product, and that what is novel in your field has probably been applied in another field for quite some time. One of the key skills in the business development researcher is never to re-invent the perfectly functioning product but instead to focus on business improvement.
The company needs to innovate !
Very many companies are in this exact place. Creating new value, increasing turnover and margins requires competitiveness in all business terms: price, product quality and marketing. Research can demonstrate the value of the existing products in new markets and innovate into new products. Often this process can be rapid and simple through the Open Innovation approach.
If you want to investigate the world of research grants to exploit an innovative idea then feel free to investigate our quick guide to research grants.
How to find out more
During your free consultation I can advise in the Grant schemes that might be available to you and give you advice on the best place to start. There are many important factors to consider when choosing to apply for a grant scheme and without advice it is easy to waste valuable time. It may be that there are no suitable calls at present but that simply using Open Innovation can allow you to update your product. However, this can still require technical skills and support to validate your choice of innovation and perform all of the relevant testing. Tideswell Business Development can fully guide and support you through this process. To leave an enquiry please visit out contact page.