The road ahead for your idea

A development plan will typically contain the following:

• Product definition: An invention must be ‘productized’ before it can be commercialised. A product is something a commercial player or investor is willing to pay for to acquire. It can be a physical product, service, patent, documentation or knowledge. The clearer a product and its benefits are, the easier it will be to sell it. We help you define a targeted product.
• Market survey and positioning: The product definition forms the basis for a market analysis. We map competing solutions and how the product fits into the market. This could lead to an alternative positioning if the product has different areas of application. The market survey will also identify potential licensees.
• Product verification. The product’s characteristics must be adequately documented for an industrial player or investor to become convinced of its benefits and be willing to take on the risk and costs of further developing the product. In cooperation with you, we will define an expedient research and development plan to verify the usefulness of the product.
• Agreements. It may be relevant to enter into agreements with other players in connection with the verification of the invention, for examples confidentiality agreements, material transfer agreements or collaboration agreements. Our lawyers assist in making these agreements. See here for more information about our legal services.
• Patenting strategy. Patent protection is critical for the commercialisation of many products, but not all. We map the need for patent protection and carry out patentability analyses, and also develop a strategy for patent protection. Patenting is a means for commercialisation, not a goal in itself. To maximise the commercial value of a patent, the patenting strategy must take product definition, market positioning and plans for verification into account. See here for more information about patenting.
• Industry contact. Inven2 wants to contact the industry as soon as we have potentially interesting data, as long that it does not prevent the possibility of patent protection. You may be asked to contribute your professional expertise in conversations with industrial partners. The purpose of early contact with industry is to present and receive feedback on the product. It is a way of receiving valuable feedback about positioning and development plans.
• Commercialisation strategy. Commercialisation of your invention takes places either in the form of a license agreement with an established industrial player or by establishing a new company to commercialise the invention. In consultation with you, we will choose the commercialisation strategy that provides the best possible chances of successful commercialisation and value creation.
• Financing strategy. It is important that the commercialisation project’s development plan is feasible. In cooperation with you, we will identify possible funding needs that must be met in order to ensure good progress. Various innovation grants could be relevant. Applications for innovation grants must contain a clear commercial purpose, and include a budget that includes the costs of necessary research and development and market and patenting activities in the project.