1. Concept Development Template
Concept Development is the starting point for a business idea. It includes the type of service or product, the target customer demographic, and describes what is unique about it that will give this idea a competitive advantage. The process of Concept Development results in a portfolio of business concepts that can be prioritized and then used to develop a business plan. Concept Development is often a component of the fuzzy front end of the innovation process. It is the “getting started” period of new product development where a team or startup formulates a concept of the product to be developed and decides whether or not to invest resources in the further development of the idea. Concept Development starts with the brainstorming of new opportunities and continues with the formation of an idea and narrowing down a more precise concept. The Concept Development phase is usually where requirements are identified involving time, money, and the product’s nature, thereby setting the direction for the entire project and final end product. Use the template below to create your own Concept Development Template.
Want more tools and templates? Visit

2. Concept Development Template
Enter concept name here
Target Market / Customer
Describe the target market or customer
(who is experiencing the problem?)
Problem to be Solved
Enter brief description of the customer, consumer or business problem solved by the product (what is the main problem?)
BIG Idea Description
Enter 1-2 sentence description of the product
(what is the solution to the problem?)
Value Proposition
Describe what makes this different/unique from other options
(what are the key benefits about this solution?)
Risks / Gaps
Describe the risks or gaps to be addressed in order to execute on the idea
(what are the main challenges to deliver the solution?)
Time Frame
Short-, Mid- or Long-Term
Launch date: MM/YYYY
Opportunity Assessment
Business Impact
Does this meet a big customer or market need? Does this help us achieve our vision and strategy? (1=low ; 10=high) 10
Barriers to Implementation
Is the technology available and the market ready? Do we have the capabilities and ability to deliver? (1=low ; 10=high)
Size of Opportunity
What is the revenue potential or value? How big of an opportunity is this?? (1=low ; 10=high)
Want more tools and templates? Visit

3. Join the upBOARD Community to instantly find, customize or create your own business processes including:
Interactive online templates
Full business processes
Dashboards & analytics
Team collaboration tools
Want more tools and templates? Visit