Innovation can spark huge business growth, but if innovation programmes are not handled effectively they can burn through cash without generating ROI.
At inglis jane, we partner with a small selection of trusted experts to ensure our clients receive effective delivery, maximised returns and accelerated financial rewards from their R&D, intellectual property (IP) and innovation projects. Our TT2M (Take Technology 2 Market) approach gives our customers the relevant domain and life-stage expertise they need to ensure success.
TT2M is delivered by ij, and our partners Coller IP and NuAge Vision. Coller IP’s Managing Director Alex Tame explained more about the partnership.
Can you tell us a little about Coller IP?
“We’re intellectual property experts headquartered in Oxfordshire. We help organisations realise meaningful value from their intangible assets, through a range of strategic and practical advice. Our services include due diligence, valuation, consulting and strategy, training and commercial advice such as patent renewals and transactions relating to IP.”
How did you come to partner with ij?
“We work in a similar space and offer very complementary skillsets. inglis jane are experts in rapid, effective project delivery, especially in innovation. We bring specific intellectual property and intangible asset (IA) expertise to the table. Together, this means our clients enjoy candid advice, proactive management and much more confidence that they’ll realise financial and strategic success through the innovation process. Coller’s company values and the way we work are also very similar to ij’s. Overall, we’re a great match.”
What is TT2M?
“It’s a seven stage framework delivered by our partnership that ensures companies fully capitalise on their ‘lightbulb’ moments. Our experience and approach means we can accelerate the innovation pipeline and maximise ROI from inventions and innovations.”
What kind of mistakes do companies make when innovating?
“There are multiple potential pitfalls in the innovation process. It might take too long to get to market, the wrong idea might be pursued, or there might be inadequate or misguided protection through patent purchase or renewal. Another common issue is businesses failing to link their innovation strategy to their business strategy. With ij, we deliver a commercially-focused plan, coupled with a swift, successful project. In essence we help companies through the obstacle-course of innovation, ensuring they finish the course faster, and without tripping up.”
What else is important in innovation?
“There’s so much to consider in the innovation process; valuation models, competitive landscapes, geographic protection, effective expenditure, personnel and asset management are all among the key considerations. The process can seem overwhelming, but with TT2M, it’s manageable, and the rewards are more readily-available.”
What are the benefits of an effective innovation strategy?
“There are so many. Here are just three; room to differentiate, higher revenue and more revenue streams, and a vast increase in company valuation. But only if the strategy works, and that’s where TT2M comes in…”