Peter McLeod Innovation Manger Introduction to ProspectIP
Agenda Background to ProspectIP Objectives of the current project East Midlands challenge Our service offerings Eligibility Summary
Background Launched in 2006 An initiative of De Montfort University Funded by HEFCE Commercialisation of latent IP Closed to applicants in June 2008
East Midlands Challenge
Past Results 120+ assessments Development of in-house innovation capacity Testing of innovation model 8 products developed to various stages
Examples
Current ERDF Project “ProspectIP offers a free period of support to businesses seeking to develop and commercialise their product or process innovations” “Support to our partners in raising IP awareness and supporting IP development”
Services
Benefits A prompt, expert and independent opinion on an innovation and its potential “No strings” support – no ownership of IP and no financial return sought Generating and disseminating innovation learning between project partners and industry
Free Support? Expert opinion on commercial potential Provision of market research Assessment of development needs Expertise in IP protection Access to training opportunities
Business Support Model Four stages: 1.IP Identification 2.Innovation Evaluation 3.Due Diligence Provision 4.Development Recommendations
IP Identification Complete online application form Initial concept screening Confidential disclosure meeting to review concept in detail Offer of support or referral to third party support
Innovation Evaluation Establish key IP and ownership Outline market opportunity Initial assessment of IP potential Identify broad development challenges
Due Diligence In depth assessment of IP potential and Prior Art Review of inventiveness and novelty IP “freedom to operate” assessed Realistic and detailed commercial assessment
Development Recommendations Routes to market detailed IP protection strategy identified Identification and referral to funding Practical licensing advice and support
Eligibility A SME (small to medium sized enterprise) A registered business Based in the East Midlands Meet initial ERDF acceptance criteria Require IP support in regard to new products or processes Be engaged with regional business support Wide range of industries supported Particularly suitable for new start businesses
Summary Period of free business support No ownership or financial return sought Wide eligibility criteria Direct access to University expertise Awareness and training events open to all
The Team
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