Market Engagement / Commercial Feasibility
At VARA, we draw on our proactive lean start-up approach and wide business network across many industry sectors to investigate, scope and develop commercial cases for new innovations in support of further commercialisation activities. We bring a proven assessment process using market engagement / new customer discovery techniques to ensure that then innovation is actually addressing a problem worth solving and to fully define the full unique value proposition potential for the project. It takes our client projects through review, evaluation, application identification, stakeholder engagement to identify a clear market need before recommending next steps.
Our commercial feasibility process quite rightly spends most time on market validation, talking to a wide network of stakeholders and potential collaborators, licensees and customers to get the real insights and fully understand the problem / opportunity and to define the value proposition(s). This is what sets VARA apart. We can proactively engage with the notable players in the market to assess the state of the art, the need or demand for a technology, the competition, barriers to entry and the regulatory framework within which it might have to sit. Once we have established a clear market need, our assessment then highlights the follow-on actions and presents the all-important recommended route to market options which will, when required, emphasise benefits to the economy. Following this process we will work up a fact based business model canvas.
At VARA, we can also engage the market on behalf of SME clients to better understand the needs of existing and potential customers and to ensure the value proposition is clear and being delivered to customer expectations.