Business innovation - SciTech Innovation Hub
The SciTech Innovation Hub is where ideas for innovative products meet the engineering, marketing and business resources that can turn them into reality.
The Help 4 Inventors service has been set up to help inventors commercialise their ideas. In return for a fee of £65 charged for each innovation reviewed by the SciTech Innovation Hub we will:
Likely 'Recommended courses of action' could be:
For innovations that we judge to have particularly good commercial potential, we may be able to offer you a Development Partnership Agreement. Such an agreement would set out how we would work together to develop the product, without any charge for our time, but in return for an agreed share in the future profits. Since we only receive payment upon the commercialisation of the product, we do have to be selective about which innovations we commit our resources to, although we will certainly consider all ideas that come our way.
There are other ways of progressing innovations that can be more suitable. One example of an organisation that we refer clients to and work with is The microFunding Exchange. This is a way of bringing together inventors, managers and investors and we can help you present a good case to organisations like this. Alternatively, you may be able to get help from the Business Link organisation in your area.
Our objective is simply to give you the benefit of our experience in commercialising new products, and the best advice for the next steps to take...
Whilst we are happy to review innovations from a diverse range of industries, the 'contingent upon success' Development Partnership Agreement scheme works best for innovations that: