Streamlining Innovation Strategy and Securing R&D Funding

 

The Client Asks:

An SME with a growing bioscience intellectual property portfolio, large pipeline of research and development (R&D) projects and limited resources, wanted to review their R&D endeavours, secure funding/investment and revise their innovation strategy and processes.

 

NM:Innovation Responds:

Over the course of 9 months NM:Innovation worked closely with the client to establish their needs, co-create solutions and embed methodology. 

 

With a flagship product already on the market, the client’s priority was to evaluate their large portfolio of R&D projects in various stages of maturity. NM:Innovation worked with the client to analyse, prioritise and build action plans for projects, which included analysis of the Technology Ready Levels (TRL) and market readiness, identifying appropriate sources of finance and funding, and leading development on identified priority projects. Also key was building collaborations and partnerships with external partners - namely universities and other businesses to create joint R&D projects, as well as players with in supply chain and manufacturing.

 

In parallel NM:Innovation provided dedicated assistance with bid writing for innovation funding, and creating compelling pitch decks tailored for potential investors. These efforts culminated in successfully securing new income for the client's priority R&D initiatives.

 

In the final phase, our focus shifted towards revising and instilling short-term, medium-term, and long-term innovation strategies to provide a robust platform for future expansion. NM:Innovation led ideation and vision planning workshops with the CEO and management team, working with them to embed the resulting strategies into operational reality.