Technology offers potential, but customers buy products. We help our clients to identify market needs and marketable products or solutions that customers value. Some of this involves market research, but we also consider the ambition of the founders and the timescales and development investment that they are comfortable to take on. We aim to develop a staged plan that meets the market need, is clearly presented for investors and around which founders can build their business.
Developing new technology and products is expensive, risky and complicated. Making sure that others don’t copy your ground-breaking work or block you from using it requires a thorough review of previous publications, patents and competitors’ websites. It then also requires a plan on what to do to ensure that your new business flourishes. Sometimes this may include filing patents or other formal protection, but there are other, less onerous, ways also.
We work with several Patent Attorneys and can manage drafting and filing of patents as required.
Setting up a new company inevitably involves agreeing structures, ownership shares, funding and IP licences or assignments from third parties such as universities. As an independent entity, we can balance the needs and expectations of multiple parties. Successful negotiation should not be about winning and losing, but is about understanding all parties' short term and long term expectations and developing creative ways to meet these. With technology companies in particular, the process can be complicated when parties value different currencies, such as personal IP, reputation and autonomy as well as the usual financial metrics.
Business planning is the process of turning your ideas and opportunities into quantified plans. This includes forecasts of revenue, costs and investment requirements. A good business plan pulls together all of the information on products, markets, competitors, development costs and staffing and allows investors and partners to understand how you see your business developing, what assumptions you have made and where the risks are. It needs to be comprehensive, honest and realistic. We work with founders to structure their plan and, often, to highlight and address the areas that need further work.
Bridging the gap between technology and products has traditionally been a challenging journey through the valley of death. However, there are increasingly sources of grant funding from organisations such as InnovateUK that can help to bridge this gap. Building an element of grant funding into your business plan can make it much more attractive to investors and provide a springboard across the valley. Badger Projects can help to identify suitable grant funding opportunities, help to define projects, build collaborations with other partners and write and present bids. Together with our partners, we can also project manage grant-funded projects and ensure that the grant funding bodies’ conditions are adhered to
For many founders of technology companies, the challenge is in creating their product and company. The reality of day to day management can be less exciting. We can help with overcoming the inevitable engineering and manufacturing obstacles, but we can also assist with setting up robust operational teams and processes and recruiting suitable management staff. In some cases, it may be appropriate to subcontract the entire product manufacturing and logistics process to a third party who already has the necessary skills, working capital and infrastructure, and we work with partners who can take this on.