People in business often have bright ideas about new or improved products, services or processes.
Generating ideas and being innovative are important contributors to business success.
Research has shown that innovation, when properly managed, can produce a higher rate of return
than many other forms of investment. The NSW Government is committed to advancing innovation
and provides assistance and services to promote the adoption of innovation in business.
What qualifies as an innovation?
Any original concept, new or improved device, product, material, business process or service
falls within the definition of innovation and will be considered for assistance at NSW
Innovation Advisory Centres.
Why evaluate or assess an innovation?
Only a very small number of innovations end up making money in the marketplace.
Many factors can contribute to this low success rate, such as:
» the innovation is not technically feasible;
» there is little demand for the innovation;
» the development of the innovation has been poorly planned;
» it is unable to be produced at competitive prices;
» inadequate knowledge of the marketplace and competitors;
» inadequate management skill to commercialise the innovation.
All these factors can be addressed by looking ahead and by getting good advice.
If you have a new idea, or a new product that you think may be marketable, the
IAS can help.
Innovation Advisory Service (IAS)
There are a range of services to help you make your idea more marketable and profitable. Services include:
» access to self-assessment software;
» business advice and referral;
» low-cost technical and/or commercial assessment; and
» innovation market review.
The IAS is your first step along the path to successful
commercialisation. It will help you begin your planning with advice and self-assessment.
The assessment/evaluation process
The IAS will assist you with an objective assessment/evaluation of
your innovation to determine its chances of success. IAS services available include:
1. Self-assessment analysis (free service)
Access to a specially-designed computer program which asks you 32 pertinent questions regarding
your innovation. A confidential print-out of the questionnaire will assist you with further
research required.
2. Business advice and referral (free service)
Practical advice and referral on how to proceed with further development of your innovation.
You may be referred to a technical assessor (see below), or a Department of State and Regional
Development Business Development Manager, or to other organisations or individuals that can
help you to commercialise your innovation.
3. Technical and/or commercial assessment (subsidised service)
A technical and/or commercial assessment can be conducted to answer the question,
"Does the innovation work?" The assessment is offered at a subsidised cost to NSW innovators
and consists of an initial consultation, analysis and written report. These assessments include:
» Security status of intellectual property;
» Technical aspects and manufacturing processes;
» Potential applications and markets;
» Competing products and technologies;
» Business arrangements;
» Other relevant issues.
4. Innovation market review (subsidised service)
An innovation market review takes analysis one step further from
the technical/commercial assessment. The review provides a preliminary evaluation of
the market with quantitative information regarding potential competitors, demand,
licensees and market size.
Confidentiality
The information you provide is treated as confidential.
For more information, please contact:
Merri Bell
Innovation Adviser
Hunter Innovation Advisory Service (HIAS)
Industry Development Centre (Hunter) Ltd (IDC)
University Drive, Callaghan NSW 2308
Phone: 1800 995 299 or +61 2 4962 0999
Fax: +61 2 4960 1137
Email: iac@idc-hunter.org.au
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