Innovation means many things to many people, but it’s far from simply being about new inventions. It could involve a new product, a new service, a new process, a new way of marketing an existing product or even a more radical innovation, such as looking at an entirely new business model.
There are many difficulties in developing new ideas and the time needed to do this – sometimes referred to as the Innovation Cycle. In UK, on average it takes 19 months for SMEs to take an idea from the drawing board to a finished product and being first in the market can sometimes be the difference between success and failure.
Typical innovation cycle includes:
- identifying innovation opportunities
- Access to a technical or technology specialist
- Market research
- Product, process or service design
- Intellectual property
- Prototyping
- Market and product testing
- Market exploitation
The Growth Hub can sign post you to organisations who can help develop you Innovative ideas.
Innovate UK is the Government Innovation arm sponsored by The department of Business innovation & skills which can help you funding , connect you with experts, holds events up and down the country.
Enterprise Europe Network is the European Commission’s official business support service which can help you with EU funding for R&D find partners, provide training, coaching to fast track you to success.
The Knowledge Transfer Partnership – is a scheme run by universities to link businesses with expertise in universities and colleges.
Enterprising Libraries in Hull are part of the PatLib UK network, a network of libraries across the UK which deliver information about Intellectual property (IP), i.e. patents, trade marks, designs and copyright.
UKTI can also provide advice on protecting your Intellectual property abroad.