Project Assessments in Science R&D
One thing common across all businesses or organisations is they want to ensure their investment in research and development (R&D) and acquisition of rights to a new product will support their business to grow well into the future. This does not mean that risks should not be taken in exploring a new area of research or products.
However, independent assessment of such activities or products is often used to provide a level of security in making a final decision about where to invest.
To help both businesses and R&D funding organisations review their investments in product development TechMAC provides a range of services specifically designed to support senior managers and R&D teams to better target their investments. These services target four (4) key areas of product development.
Key areas of Product Development
- Future Value – this involves working with senior managers to understand the business strategy and how the proposed R&D or product investment will best support the business against existing technologies in the market.
- Development and Commercial Risk – a review of product development risks explores both challenges that may be faced in gaining regulatory approval for a new product (eg pesticide or new crop, animal or pest treatment). This not only considers risk in product registration, but also compliance standards when developing new consumer products.
- Commercial risk assessment – targets a review of market demands and the competitive landscape for the proposed product. This review targets the competitive advantage the product will offer as well as the challenges that may be faced in gaining market access or growth.
- Commercial Plan Reviews – commercial plans are broken down into the proposed business model to be used to deliver the product to the market as well as the business plan or specific strategies used to drive commercial sales. If the wrong business model is in place, the proposed business plan is likely to fail.
- IP Risk Assessment – IP ownership rights and risks over the commercial freedom to operate need to be clearly identified prior to making any investment decision. IP risk assessments also need to continue throughout the product development phase. Such assessment may include IP landscape and freedom to operate (FTO) searches, but might also include assessing rights that may be required to key background IP to be used in the development of a product.
When completing investment reviews TechMAC draws on the expertise across a team of managers. This ensures that the right expertise in the area of investment assists in the review. Our team has expertise across biotechnology, biochemistry, medical and veterinary science, sensors, agriculture, engineering and robotics, IT, communication and software technologies.
To enquire about our project assessment services, contact us for further information today.