Practical Guide to Business Start-Up From idea to product Stuart Kelly August 2011 #1
Turning technology into commercially viable products… 1. What is the end goal? 2. What makes a product commercially viable? 3. Planning a product design & development project 4. Money saving tips #2
What is the end goal? #3
A typical product development – technical view High volume injection- moulded consumable Thermo-electric cooling system Light pipe optical design Thermal and power Reliable docking management mechanism #4
A typical product development – bigger picture view Blood, sweat + tears Government grants Expertise and experience Cash investment Employment, profit and economic benefit? #5
What makes a product commercially viable? #6
What makes a product commercially viable? M A R K E T D E M A N D S E L L I N G P R I C E P R O F I T M A R G I N U S E R B E N E F I T S R E L I A B I L I T Y T E C H N O L O G Y #7
Planning a product design A step-by-step guide. #8
Planning a product design A step-by-step guide. Crucial to understand: It’s never a step -by-step process . #9
Step 1: Define your strategy #10
Step 1: Define your strategy THINK ABOUT IT. PLAN IT. ASSESS CONCEPTS. COST IT. REVISIT PLAN. DESIGN IT. BUILD IT. TEST IT. REVISIT PLAN. DEVELOP IT. GET IT RIGHT. #11
Step 2: Structure your “organisation” MARKET UNDERSTANDING TECHNOLOGY & DESIGN MANUFACTURING #12
Step 2: Structure your “organisation” MARKET UNDERSTANDING TECHNOLOGY & DESIGN How much can you manage by yourself ? MANUFACTURING #13
Step 2: Structure your “organisation” MARKET UNDERSTANDING TECHNOLOGY & DESIGN MANUFACTURING #14
Step 3: Define the scope of your project What do I want to develop? #15
Step 3: Define the scope of your project What do I need to develop? #16
Step 3: Define the scope of your project What can I afford to develop? #17
Step 4: Fill the funding gap #18
Step 4: Fill the funding gap SMART: Scotland Max grant % of costs Duration (www.scottish-enterprise.com) Technical & Commercial Feasibility Study £70,000 75% 6-18 m R&D Project £600,000 35% 6-36 m Technology Strategy Board Grant for R&D Max grant % of costs Duration (www.innovateuk.org) Technology Strategy Board Grant for R&D (www.innovateuk.org) Proof of Market £25,000 60% < 9 m Proof of Concept £100,000 60% < 18 m Development of Prototype £250,000 45%* < 24 m * small & micro enterprises #19
Step 5: Develop a staged plan SUPPLY CHAIN MANAGEMENT PROJECT MANAGEMENT DESIGN RISK MANAGEMENT AND PRODUCT ROBUSTNESS REQUIREMENTS AND SPECIFICATION APPROVAL FOR SALE CONCEPT REVIEW DESIGN REVIEW DESIGN FREEZE GO / NO-GO CONCEPTS MANUFACTURE / COMMERCIALISATION CONCEPT FEASIBILITY DESIGN FEASIBILITY SYSTEM DESIGN DETAIL DESIGN FOR MANUFACTURE MANUFACTURE START-UP STEADY STATE MANUFACTURE SKETCHES RIGS TECHNOLOGY DEMONSTRATOR WORKING PROTOTYPES PRODUCT FOR SALE progress #20
Step 5: Develop a staged plan 1. CONCEPT 2. FEASIBILITY 3. DESIGN 4. MANUFACTURE #21
Step 5: Develop a staged plan #22
Step 5: Develop a staged plan SUPPLY CHAIN MANAGEMENT PROJECT MANAGEMENT DESIGN RISK MANAGEMENT AND PRODUCT ROBUSTNESS REQUIREMENTS AND SPECIFICATION APPROVAL FOR SALE CONCEPT REVIEW DESIGN REVIEW DESIGN FREEZE GO / NO-GO CONCEPTS MANUFACTURE / COMMERCIALISATION CONCEPT FEASIBILITY DESIGN FEASIBILITY SYSTEM DESIGN DETAIL DESIGN FOR MANUFACTURE MANUFACTURE START-UP STEADY STATE MANUFACTURE SKETCHES RIGS TECHNOLOGY DEMONSTRATOR WORKING PROTOTYPES PRODUCT FOR SALE progress #23
Step 5: Develop a staged plan SUPPLY CHAIN MANAGEMENT PROJECT MANAGEMENT DESIGN RISK MANAGEMENT AND PRODUCT ROBUSTNESS REQUIREMENTS AND SPECIFICATION APPROVAL FOR SALE CONCEPT REVIEW DESIGN REVIEW DESIGN FREEZE GO / NO-GO CONCEPTS FEASIBILITY SYSTEM DESIGN DETAIL DESIGN FOR MANUFACTURE MANUFACTURE START-UP STEADY STATE MANUFACTURE SKETCHES RIGS TECHNOLOGY DEMONSTRATOR WORKING PROTOTYPES PRODUCT FOR SALE progress #24
Step 6: Estimate realistic timescales SUPPLY CHAIN MANAGEMENT PROJECT MANAGEMENT DESIGN RISK MANAGEMENT AND PRODUCT ROBUSTNESS REQUIREMENTS AND SPECIFICATION APPROVAL FOR SALE CONCEPT REVIEW DESIGN REVIEW DESIGN FREEZE GO / NO-GO CONCEPTS FEASIBILITY SYSTEM DESIGN DETAIL DESIGN FOR MANUFACTURE MANUFACTURE START-UP STEADY STATE MANUFACTURE EYE SAFETY DVT SKETCHES BETA PROTOTYPES PROOF OF PRINCIPLE RIGS ESTIMATED COSTS PRODUCT FOR SALE OBSERVATIONAL BETA DVT SCHEMATICS RESEARCH OBSERVATIONAL ARCHITECTURE RESEARCH – FORM COMPONENT SELECTION ID LANGUAGE #25
Step 6: Estimate realistic timescales #26
Step 7: Plan your resource needs “Research” “Product Design” Number of people in the design team Proof of Concept Time Concept Feasibility Design Detail Manuf. #27
Step 7: Plan your resource needs Money invested Stock purchase Proof of Concept Time Concept Feasibility Design Detail Manuf. #28
Step 7: Plan your resource needs #29
Money saving tips #30
Money saving tips DIY product development • Write your own specifications • Write your specification again • Write your specification again #31
Money saving tips DIY product development • Write your own specifications • Write your specification again • Write your specification again • Make sure your foundations are sound • Technical feasibility • Cost feasibility • Market demand • If it doesn’t work yet, stay in Feasibility #32
Money saving tips DIY product development • Write your own specifications • Write your specification again • Write your specification again • Make sure your foundations are sound • Technical feasibility • Cost feasibility • Market demand • If it doesn’t work yet, stay in Feasibility • Seek advice from experts #33
Money saving tips Use sketches & renderings • Cheap to create • Easy to change • Everybody can understand #34
Money saving tips Use sketches & renderings • Cheap to create • Easy to change • Everybody can understand • Make sure the sketches are based on sound fundamentals. #35
Money saving tips Re-use and recycle #36
Summary #37
Summary #38
Contact details email stuart.kelly@wide-blue.com visit www.wide-blue.com and follow wideblue_design on . #39
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