How to Evidence Disruptive Innovation Market Drivers
Innovation funders are eager to fund innovation for market sectors exhibiting market pull tendencies as there is a greater likelihood of innovation adoption. This consequences from the market demand for a solution, combined with a readiness and willingness in adopting change by the customer.
Contrast the distinction between the fever pitch at the release of a new Tesla (Market Pull) vs consumer annoyance and avoidance of double glazing salespeople (Market Push).
What are market Drivers/pull?
This is where a product and/or provider is produced in response to market forces or customer needs.
An example includes the improvement of the camera with Kodak’s first commercial camera launched in 1888, the subsequent introduction of 35mm movie rolls, the launch of the polaroid instant camera, the recent transition to digital cameras and now cameras are incorporated into everyone’s cell phones.
Where to find evidence
You will need to provide proof in your grant application to present a sturdy argument for why your innovation should be funded. There is a surprising amount of free content material available on the internet, use Google or another search engine to track down content material for your specific sector.
Sources of evidence include:
- Market reports – from consultancies, buyers or other parties.
- News articles
- General publications such as the BBC, Guardian, or Financial Times.
- Sector-specific publications: for example Construction – there are publications such as Building and Construction News.
- Industry trade our bodies and associations: For digital & tech: techUK, BIMA, Digital Business Association
- Government policies and white papers (where to look depends on which zone is involved):
- Innovation, Energy: BEIS – Department for Business, Energy & Industrial Strategy.
- Agriculture: DEFRA – Department for Environment, Food & Rural Affairs
- Don’t forget publications issued from the House of Commons.
- Evidencing market pull key tips
- Sources from the last three years are preferred with the aid of assessors.
- Consider where the detail is coming from and perceived quality – suppose about the difference between the Sun newspaper vs Financial Times.
- Use Harvard referencing style.
Whilst searching also think about secondary markets- Subsequent markets you can enter once the innovation is established.
Our team evidence the market pull of our client’s initiatives daily, get in touch for over a decade of advice on developing provide applications. We are here to help.
If you have a disruptive enterprising project or innovation, why not contact us? A brief chat with one of our innovation consultants will help you determine whether grant funding could get your project off the ground.
Why use grant funding experts?
Although there are many benefits to seeking grant funding, the thought of applying can be confusing, time-consuming and stressful. Using the creative and technical skills of a professional Innovation grant writing consultancy will strengthen your business in translating technologies and business models into a language and format assessors understand; increasing the chance of success. If you have a disruptive ambitious project or innovation, why not contact Capti Innovation.