Developing new products can often take a long time and involve great uncertainty about profitability. We have developed a unique method to save time and money for innovators called Innovation Due Diligence® (IDD).
IDD is used to market validate more than 300 new ideas annually from research at Luleå University of Technology, Swedish and European companies.
Who is Innovation Due Diligence for?
Anyone with a brave idea!
Innovation Due Diligence is a great tool no matter if your idea is at an early stage or you have been working on it for a while - but of course the earlier you test your idea, the greater savings in time and money.
The method is built to work for your specific industry. Perhaps your idea is a new technological solution, a smart way to make our society more sustainable, a children's book or a safety running belt.
Sometimes methods focus on young startups or large companies. Innovation Due Diligence is designed so that it is fully feasible even for smaller, established companies to do an analysis and evaluation of their new product ideas
What is included
- An idea review which critically examines the current state of your innovation
- A complete mapping, testing and prioritization of potential target markets
- Commercialization strategy and recommendations for the next step forward