The approach of successfully matching an evaluated knowledge based idea with a seasoned entrepreneur or well established SME is novel and new. The VITAL Partnership believes it provides a more efficient and effective way of commercialising a business proposition and fast tracking the route to market.
Any of the Ideas validated by VITAL can be matched to prospective entrepreneurs or SME implementers.
This matching of evaluated idea to implementer is facilitated through an Implementer Application Review. The Implementer Application Review involves analysis of the prospective implementer’s current resources - human, financial, sales, technical etc, as well as market presence. The process may be repeated to ensure an optimal match occurs between ideas and entrepreneurs/SMEs. The final decision is taken by a panel made up of academic and agency representatives. The criteria that the panel will reflect upon to determine the match will include:
Resources match (the commercial and technical needs of making the idea a reality versus the capabilities and resources of the implementers)
Potential fit (Other existing product lines)
Requirements for Proto-typing, Proof of Concept
This project has been supported by the European Union’s INTERREG IVA Programme, managed by the Special EU Programmes Body