Exploit Business Innovation: grow & scale | Innovate UK EDGE
We believe passionately that innovation should be a driving force in business, fuelling the creation of new and improved innovative products or services to launch in the UK and take to global markets.
Our innovation and growth specialist delivered service equips your business to engage in continuous commercial driven innovation, optimise operations and expand to meet demand. And when your capacity to exploit innovation is supported with the right organisational and leadership profile to attract investment as well as the capability to enter new markets, you will have achieved the ideal platform for scaling your business.
Having conducted a thorough analysis of your needs, our first engagement with you may focus on one of the following areas:
Innovation management
Dedicated support to help you manage innovation effectively, develop your innovation processes and bring new and existing products and services to market successfully.
Areas of focus could include:
Connections to the innovation ecosystem
Our specialists can help innovative companies to access the right resources and expertise to make growth-enhancing innovation happen. We have strong relationships with other ecosystem organisations including:
Using our partnerships tool you can find and connect with business, research and academic partners from around the world to collaborate with.
As part of our ongoing efforts to pilot new ways of working,, we are also providing enhanced access to the ecosystem through our Growth Support Account, if you need to:
Exploiting intellectual property
Support to help you understand and protect your IP to provide a reliable platform for growth, including:
IP Audit service
Our enhanced IP Audit service is provided in partnership with the UK Government’s Intellectual Property Office.
IP specialists deliver an audit and exploit service for businesses with IP. The business contributes just 17% of the cost.
The service delivers a detailed report setting out recommendations to leverage value from IP and a plan to integrate IP assets into a wider business strategy.
Please contact us for more information.
What is business innovation?
Business innovation can encompass new ideas, processes, products or services to improve the core business and encourage growth.
Types of business innovation
Innovation can take many forms, here’s an overview of some of the different types of innovation in business;
Process innovation
Finding ways to become more efficient and productive in your business. This could include automating services or restructuring the team.
Product or service innovation
Making changes and improvements to an existing product or service, or creating a new one entirely. For example, this could include moving a service online or pivoting an existing product for a new industry.
Sales and marketing innovation
Finding new and creative ways to market and sell to your customers. This could include new branding, packaging or prices.
Innovation in business management
Improving and innovating the way the business is managed. For example, re-evaluating the leadership team or business strategy.
Revenue model innovation
Any innovation in which the main goal is to increase profits or revenue. For example, rethinking the pricing strategy.
Business model innovation
Any innovation to improve the core business strategy and processes for growth. This could include entering into new partnerships or investing in new technologies.
Industry model innovation
Any innovation in which the goal is to adapt the industry or market for your product or to create a new market entirely.
The importance of innovation in business
Exploiting innovation can help your business to grow and scale by attracting investment and giving you the edge in the market.
Benefits include;
Advice for innovating in your business
In order to take advantage of innovation for your business, you could consider