Henry Kafeman
Following on from my last blog post about “What knowledge do SMEs need?”, I now want to share my thoughts on what’s needed for start-ups and SMEs to go from an Idea to Research and Development.
If you are new to this, I hope I will provide some insights that are helpful. If you are experienced then please let me have your comments or thoughts. And anything I have missed or should elaborate on, etc. Either way please do engage in discussion to provide more value to our community.
As an example, let’s consider an idea for an innovative product that needs hardware, embedded software, communications and a user interface (dashboard, app, etc.), which is typical. Though not all products actually need all of these.
If you read my previous blog post, you will understand that “key shaped” knowledge will be needed with sufficient width and depth across a range of disciplines. For a typical start-up or SME this will need to be achieved by a combination of learning and use of external assistance as required.
Key first steps
It is tempting to rush from idea into Research and Development (i.e. trying to get something to work!). But no matter what the details of the idea actually entail, there are some initial key considerations, such as:
- Is there a need/market and how large is it? – Who are the potential customers? In which countries?
- Are there already product/solutions/competitors? – If so, how is mine/ours better/different?
- What selling price is possible/realistic? – How much will it cost to make, package, ship, etc.
- Do we have innovative Intellectual Property which we need to protect? – Are there existing Patents or licensing requirements that could block development or add additional costs?
- What resources, skills, funding and timescales are needed for Research and Development and then to move to a Minimum Viable Product, trials and production stages.
- What are the testing, certification and regulatory requirements? These need to be considered early on as a Technical File will need to evidence all the details. Support, troubleshooting and maintenance also need to be considered!
- What marketing and branding will be needed? Also, for startups, what is the best business structure to setup and what are the costs, requirements, etc.
- What are the environmental and sustainability impacts of the product, its use and its end of life? – Will it be recyclable, subject to the Waste Electrical and Electronic Equipment (WEEE) Directive, etc.
In fact, all these topics and more need to be constantly reviewed and taken into account throughout the complete lifecycle from initial idea to end of life. Inevitably changes in scope, direction and the competitive landscape will need to be handled!
What next?
Okay, so sorry I have already run out of space in this post to even start looking at the key elements of the product which will be: hardware, embedded software, communications, user interface, etc.!
Meanwhile, if you have not heard of Technology Readiness Levels (TRLs) or Market Readiness Levels (MRLs), then these will be of interest/use, throughout the product development. There are many similar sources including scales with varying numbers of levels, but these are typical:
https://en.wikipedia.org/wiki/Technology_readiness_level
https://iuk-business-connect.org.uk/perspectives/understanding-market-readiness-level/
In particular, any investors or funders will need to know where you are on these Levels and the details of how you plan to move up them towards TRL 9 and MRL 6.
I will follow up in future blog posts about the further stages towards launching a product and beyond…
If you’d like to talk through how to go from idea to research and development in your business, contact us to book a free explorative call.
For more insights from our expert team go to our events and stories.
I will follow up in future blog posts about the further stages towards launching a product and beyond…
