Business Case Development: Is there a practical application?
See realism not just enthusiasm
No matter how advanced your technology is, the first step on the road to commercialisation is a clear and robust business case. In developing the business case, it’s crucial to put realism ahead of enthusiasm, as failure to do so can create a misleading picture of the commercial potential.
Ask the basic questions
The process of Business Case Development is designed to help you answer fundamental questions such as:
- Does this technology make sense (does it have a practical application)?
- Which are the key markets for this technology?
- Who will be the most likely investors and the most suitable partners?
- What new products could the technology give rise to?
- How much more development is needed - and how can it be funded?
Focus on the business not the technology
In Business Case Development, the emphasis in on the business issues related to bringing the technology or product to market. The business case considers problems the technology or product solves that current solutions do not, how big the market is, how long until investors will see a return and the projected size of that return.
Investors tend to avoid single project ventures, preferring to invest in opportunities with the potential to generate a product portfolio. Therefore it’s important to assess a new technology as a platform with potential to create a range of products. In addition, we advise our clients to consider:
- The potential business risks for investors and stakeholders;
- Key markets and potential product portfolios;
- The likelihood of competitors catching up in the short to medium term;
- Potential weak links in the supply chain;
- Realistic project milestones and the likely ‘burn-rate’ needed to reach them.
When the business case is built on a solid foundation, the next steps become a lot easier. The business plan is an obvious example, and is vital for attracting investors, venture capital or suitable partners.
Find out what our clients think, read our success stories or contact us about strengthening the Business Case for your technology or venture.
….she developed a deep understanding of our market place, its dynamics and levers…and provided us with an excellent and detailed report covering not only the company’s future and its opportunities in the longer term, but also about the current hurdles we faced executing our short term goals.
What she provided was clear, easily understood and executable.."
Post-consumer Materials Recycler
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