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Scottish Enterprise Support for Innovation - Richie Connor

Scottish Enterprise Support for Innovation - Richie Connor. Overview. Summary. Objectives. All this info will be available on the website, and feel free to email richie.connor@scotent.co.uk for further discussion or info. What is Innovation & why do I need SE’s help?

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Scottish Enterprise Support for Innovation - Richie Connor

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  1. Scottish Enterprise Support for Innovation - Richie Connor

  2. Overview Summary Objectives All this info will be available on the website, and feel free to email richie.connor@scotent.co.uk for further discussion or info • What is Innovation & why do I need SE’s help? • What help is available? • What do I do next? • Find business managers/owners looking for help to grow their companies • Raise awareness about what SE has done and could do for you • Get you thinking about growing your company through innovation…

  3. We are experienced in supporting New Product, Process and Business Innovation – the lifeblood of growing companies. We have 13 team members from various disciplines including Chemicals & Engineering to Sales & Marketing. We joined SE from the private sector and have over 120 years combined experience. We are passionate about Innovation and support Scottish Businesses with commercially viable projects, which will directly improve the business and the economy. Steve Robinson – Edinburgh Chris Bryceland – Glasgow Rupert Mills – Paisley Bill Corr – Paisley Sandra McCulloch – Paisley Charles Broadfoot – Stirling Tom Farrell – Bellshill Jim Shields – Edinburgh Morag Eaton – Glenrothes Gordon Venters – Dundee Richie Connor - Galashiels Joe McArdle – Dumfries Katja Brittain - Aberdeen Who we are

  4. Sorry, gratuitous pictures of the industry…but you know what it looks like….

  5. Before we start….a quick quiz…

  6. What is the definition of Innovation?

  7. What is the definition of Innovation? • Inventing a new product / gizmo / gadget …

  8. What is the definition of Innovation? • Inventing a new product / gizmo / gadget … • Making money from someone else’s idea?

  9. What is the definition of Innovation? • Inventing a new product / gizmo / gadget … • Making money from someone else’s idea? • Coming up with a crazy idea & then hitting your head against a brick wall ….a lot.

  10. What is YOUR definition of Innovation? • Inventing a new product / gizmo / gadget … • Making money from someone else’s idea? • Coming up with a crazy idea & then hitting your head against a brick wall ….a lot. Lets have a show of hands…who thinks what….

  11. What is YOUR definition of Innovation? • Inventing a new product / gizmo / gadget … • Making money from someone else’s idea? • Coming up with a crazy idea & then hitting your head against a brick wall ….a lot. I’m Confused….it could be all 3…and more….

  12. Definition 1: Realising value from an Idea Only once the idea has been executed and it has been productive ( £ &/or Happiness) can we call it an innovation….

  13. Richie C’s definition: The successful commercial exploitation of new ideas

  14. Recipe for Growing a Company

  15. Modified Ansoff ~ Growth Matrix Where could your company growth come from?

  16. Modified Ansoff ~ Growth Matrix What other market needs our product? What could we do ? Market focussed innovation how can we develop a new product? Business Development to find new clients Client focussed innovation…how can we deliver a better product / service? Sell More Become more efficient

  17. Modified Ansoff ~ Growth Matrix What other market needs our product? What could we do ? Which ones can SE help you with ??? Market focussed innovation how can we develop a new product? Business Development to find new clients Client focussed innovation…how can we deliver a better product / service? Sell More Become more efficient

  18. Modified Ansoff ~ Growth Matrix What other market needs our product? What could we do ? Innovation Services can help in all of these!! Market focussed innovation how can we develop a new product? Business Development to find new clients Client focussed innovation…how can we deliver a better product / service? Sell More Become more efficient

  19. Modified Ansoff ~ Growth Matrix Blue Sky Idea generation ~ What else could we do & for whom? Market Feasibility & Assessment? Marketing, Sales & Business process innovations New Product Development Process Innovations to do things quicker or better Incremental or New Product Development

  20. Modified Ansoff ~ Growth Matrix Blue Sky Idea generation ~ What else could we do & for whom? Market Feasibility & Assessment? Ok but what’s on offer…advice, £, contacts, expertise…?? Marketing, Sales & Business process innovations New Product Development Process Innovations to do things quicker or better Incremental or New Product Development

  21. Modified Ansoff ~ Growth Matrix Blue Sky Idea generation ~ What else could we do & for whom? Market Feasibility & Assessment? It all depends what you need…so that’s the first step… Marketing, Sales & Business process innovations New Product Development Process Innovations to do things quicker or better Incremental or New Product Development

  22. Modified Ansoff ~ Growth Matrix Blue Sky Idea generation ~ What else could we do & for whom? Market Feasibility & Assessment? Warning: Government Forms ahead!!!! Marketing, Sales & Business process innovations New Product Development Process Innovations to do things quicker or better Incremental or New Product Development

  23. Explore & Access

  24. About the Company Are you a good bet for the tax payer? What’s your size? What type of company are you?

  25. The Innovation Idea / Project Help us understand the market for the opportunity? How will you make £ from this? Help us understand what level of detail and planning has been undertaken so far? Help us assess how best to help you to proceed?

  26. The Innovation Idea / Project Some projects we have funded before to get you thinking: Market assessment for a new product…will customers buy it and at what price? Process innovation to use a different method of manufacture and reduce unit cost. New product development to design & manufacture a stronger more flexible product.

  27. SUCCESS FACTORS

  28. Vague 1:50 odds Specific 80% +

  29. Idea…a better widget Vague 1:50 odds Specific 80% +

  30. Idea…a better widget Market Assessment…. who is willing to pay & why? Vague 1:50 odds Specific 80% +

  31. Idea…a better widget Market Assessment…. who is willing to pay & why? Detailed project plan, risk assessment and quotes from suppliers Vague 1:50 odds Specific 80% +

  32. Idea…a better widget Market Assessment…. who is willing to pay & why? Detailed project plan, risk assessment and quotes from suppliers More detailed channel to market, sales strategies, Distributors etc Vague 1:50 odds Specific 80% +

  33. Idea…a better widget Detailed business plan, why is this a good investment? Market Assessment…. who is willing to pay & why? Detailed project plan, risk assessment and quotes from suppliers More detailed channel to market, sales strategies, Distributors etc Vague 1:50 odds Specific 80% +

  34. So what sort of things can we help with? Costs of materials Costs of overhead People costs Marketing costs Testing Costs Sub con / Consultants costs Not all, but a proportion to help reduce your risk & help increase chances of success Idea…a better widget Detailed business plan, why is this a good investment? Market Assessment…. who is willing to pay & why? Detailed project plan, risk assessment and quotes from suppliers More detailed channel to market, sales strategies, Distributors etc Vague 1:50 odds Specific 80% +

  35. What Next?

  36. What Next? Idea Ready Now Interested but no Ideas… • See us tonight, exchange details and let’s set up an “Explore & Access” meeting. • Do your preparation & planning • Complete form and get things started. • See us tonight and let’s have a quick 5 mins Ideastorm… • Mull things over • Discuss with your team • Invite us to come and see how we could help? • Use the form to help inform your discussions & thinking.

  37. What Next? Idea Ready Now Interested but no Ideas… Who wants a form, see me afterwards • See us tonight, exchange details and lets set up a “Explore & Access” meeting. • Do your preparation & planning • Complete form and get things started. • See us tonight and lets have a quick 5 mins Ideastorm… • Mull things over • Discuss with your team • Invite us to come and see how we could help? • Use the form to help inform your discussions & thinking.

  38. Re-Cap Summary Objectives All this info will be available on the website, and feel free to email richie.connor@scotent.co.uk for further discussion or info • What is Innovation & why do I need SE’s help? • What help is available? • What do I do next? • Find business managers/owners looking for help to grow their companies • Raise awareness about what SE has done and could do for you • Get you thinking about growing your company through innovation…

  39. Richie ConnorScottish Enterprise Bridge StreetGalashielsTD1 1SWEmail: richie.connor@scotent.co.uk Tel: 01896 662 209

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