Making Your R&D Spend More Efficient
Our services to do three things for large manufacturing companies: (1) locate, evaluate and acquire the early-stage technologies or companies you need to complete your strategic vision, (2) take the uncertainty out of choosing the innovation ideas you need to be working on today, and (3) bring your best ideas to market faster. Developed to augment rather than replace your existing processes, our projects are delivered on a fixed-fee basis and provide real results rapidly, efficiently and without taking up the valuable time of your team.
Why Hire Us? Success Headlines
Seminars and Diagnostics
Annual Retainer Services
You can engage iP2Biz for a la carte projects (listed below) on a fixed-fee basis, but the vast majority of our clients choose to enter into annual retainers which include a project mix designed specifically to meet their ongoing innovation needs. Front End projects should be an every-day part of your innovation efforts, and getting iP2Biz on your team makes those efforts both more efficient and more effective. A typical annual product mix might include:
➔An Innovation Portfolio Assessment to evaluate and rank all the innovation ideas that have been kicking around in executive meetings but not advancing.
➔Eight Opportunity Assessments (two per quarter) so that the best of those ideas can be validated and—where appropriate—moved on toward commercialization.
➔Two iPScouts to be used as-needed to locate, evaluate and acquire new technologies or companies that can advance your strategic objectives.
Whatever your innovation needs or current innovation processes, we will work with you to craft a bespoke package that will help you reach your goals faster and with less internal friction.
An iP2Biz Opportunity Assessment rapidly reduces the uncertainty surrounding an innovation idea, delivering an independent, objective recommendation (supported by hard data) as to whether the opportunity deserves more resources. Taking only 40 days, an Opportunity Assessment can help you:
➔Determine if a new product you are developing (or considering) will find success in its target market.
➔Determine if a market you are considering entering for the first time is in need of the kind of innovation you may be able to deliver.
➔Understand the competitive landscape surrounding a planned innovation.
You can learn more about an iP2Biz Opportunity Assessment here.
An iP2Biz iPScout locates and evaluates promising early-stage technologies that can allow you to leap-frog competitors, launch Breakthrough Innovations and drive new growth. It’s a collaborative project that gives you visibility into a broad array of technologies at research universities and small spin-out companies world-wide, winnows down the list to those with the most promise and then delivers deep information on those you deem most interesting. The analysis always provides you with a full IP background on the technologies, an analysis of the potential for acquisition and a view of potential competition. An iPScout can help you:
➔Locate, evaluate and acquire early-stage technologies to complete your vision and stay ahead of your competitors.
➔Evaluate a variety of potential new markets for your existing or envisioned products and pick the best one to maximize your chance of success (MarketScout).
➔Locate, evaluate and acquire university spin-outs, start-ups or other small companies with the technology and IP you need to gain a strategic advantage (IndustryScout).
➔Gain a comprehensive understanding of your competitors in a new or emerging market.
➔Get an independent opinion on the wisdom of a major strategic acquisition.
You can find more information about an iP2Biz iPScout here.
Tired of advisors who won’t risk their own capital on recommendations they make? You’ve come to the right place. When you engage iP2Biz to perform an iPScout, we often unearth early-stage technologies that show great promise but need translational research to prove their value. When this happens, we stand behind our work in the best way possible: we put our money on the table. An iP2Biz ProofCo (Proof of Commercialization) is a joint venture in which we co-invest with you to verify the commercialization potential of a technology we located. Each project is a clearly defined and tightly managed effort that will develop and further evaluate the technology according to your requirements. At the end of the ProofCo, you may buy out our interest in the technology at a pre-determined price or—if you elect not to proceed—iP2Biz will market the technology and we will split any proceeds/share any losses. Your interest will remain anonymous throughout the process.
You can learn more about an iP2Biz ProofCo here.
Innovation Portfolio Assessment
If you have a roster of innovation ideas in the works but don’t know where your focus should be, an iP2Biz Portfolio Assessment can help you cut through the noise to find the best candidates for further investment. When we are engaged for an Innovation Portfolio Assessment, we use a structured method—developed and refined through research done by the Industrial Research Institute—to objectively assign values and weights to your existing innovation projects.
The result is a jointly-prepared, prioritized list of potential projects, maximizing the efficiency of your R&D spend. An Innovation Portfolio Assessment is most valuable when you have a long list of competing ideas for projects, but differing points of view as to priorities. It eliminates the sources of internal bias and quiets arguments, allowing you to focus your efforts on innovation ideas with the best chance of commercialization.
You can find more information about an iP2Biz Innovation Portfolio Assessment here.
Lean Startup Boot Camp
Need to move a great idea to market rapidly? Concerned that your existing processes aren’t up to the task? If so, you need to explore Lean Startup.
The Lean Startup methodology takes an early-stage innovation idea and moves it through a short, high-velocity process that involves rapid iteration, a validated product-market fit, rapid prototyping and business model construction. It will kill bad ideas efficiently and move the good ones rapidly to commercialization.
Originally designed to increase startup success rates, Lean Startup holds great promise for established companies searching for ways to launch new products faster. But it’s not easy to integrate Lean with existing processes.
iP2Biz can fix this problem. We have helped more than 600 small companies through the process within the National Science Foundation’s I-Corps curriculum and have more than eleven years of experience helping Fortune 1000 manufacturing companies get better at innovation. Whatever your existing processes, we can teach you how to make Lean Startup work.
In a compressed, high-intensity program, we will teach you by working on an actual idea you want to launch, moving from team selection and introduction of concepts, through Customer Discovery, Minimum Viable Product, and the Business Model Canvas. At the end you see how powerful Product/Market Fit can be and will have the experience you need to replicate the process on your own, permanently providing your company with an invaluable new capability.
Introduction to FEI
If you are frustrated by the pace of innovation at your company, understanding Front End Innovation (FEI) is the quickest path to a solution. FEI is the place where all breakthrough and disruptive innovations are born, and this interactive seminar distills our eleven years of experience working on FEI projects with some of the most innovative companies in the world, tying that experience to decades of research into innovation best practices. You will learn:
➔Why your formal (Stage Gate) process destroys breakthrough and disruptive innovations.
➔Why FEI must be managed differently.
➔The characteristics shared by people who excel at FEI.
➔Typical pitfalls in the FEI process and how to avoid them.
➔How harnessing the power of FEI can dramatically change the pace of innovation at your company.
When you master the Front End, you accelerate R&D throughput. This seminar will jump-start your innovation efforts and illuminate a path to success.
The Role of the Executive in FEI
This fast-paced, interactive seminar will help your entire executive team understand their critical role in the success of Front End Innovation projects and pave the way to capturing more breakthrough and disruptive innovations. The outcome of the FEI process as applied to any single idea is uncertain, and you will have a number of failed ideas for every one that becomes a commercial success. Given this, executive support at the highest levels is absolutely critical: you must have someone committed to the process who
➔Understands the necessity for rapid iteration and learning, and
➔Has the authority and audacity, sometimes under intense pressure, to maintain support for the process with vision, strategy, climate and—most importantly—resources.
This seminar will teach you how FEI works, why it is difficult to do well, what you can expect as you get better at it and what your role is in the process.
Front End Innovation Diagnostic
Even if you understand Front End Innovation, it’s hard to do well: existing staffing levels are designed to support the important demands of the Formal Process, and team members don’t have the resources to attack innovation ideas that don’t follow the same rules. Nevertheless, there are best practices you can turn to for guidance, and an iP2Biz FEI Diagnostic will help you tap into this distilled wisdom. Our team will conduct dozens of interviews to turn up the good, the bad and the hidden in your current processes, examining idea generation, triage and prioritization as well as providing an analysis of your Front End organization, the involvement of senior management and the transition of projects into your Formal Process. We will also do an in depth examination of several of your Front End projects to discover why they succeeded or why they failed. Once this information is gathered, we will provide you with a qualitative report describing the results of the interviews, our analysis of the projects and comparing your processes to known best practices. The goal is not to get you to overhaul the system; instead, we will provide you with minimally invasive changes you can make that will give you a fast return and begin to increase the efficacy of your processes.