Potential market

SECTION I: The product

1a

The innovation potential of this product is related to:

 

  • Technology-driven innovation (under the influence of the development of science – the market is not ready for the product)
  • Market-driven innovation (as a result of market surveys, the market expects the product)
  • Replacement of existing product
  • Product related to cost reduction
  • Radical new product
  • Other, what…

 

3I is market driven innovation for innovation system policies and tools at regional level. The rationale behind the construction of such a model lies behind the need for the availability of an analytical framework at system level, using metric micro data. The need of policy makers to interpret innovation data into measurable system effects, in order to evaluate system’s strengths and weaknesses and access the impact of policies at regular intervals, is the main reason for the creation of the 3I model. Thus, policy makers would be able to address systemic analysis elements such as efficiency, effectiveness or cost of the interactions. The 3I model provides added value to existing metric indicators such as the summary innovation index (SII), since it presents the framework for the utilisation of these composite indicators at systemic level.

 

1b

What added value for end-users does the product hold?
• higher quality
• Better technical characteristics
• Other …

The 3I model bases the construction of composite interaction indicators on the availability of the European scoreboard indexes. Subsequently, subsequent 3I models with different composite indicators could be constructed using a different metric source of micro data. The next section illustrates the usability of the 3I model in the systemic analysis of the resource balance for the European regions.

 

 

 

 

1c

What is the Unique Sales Proposition of the potential product?

The unique sales proposition is the systemic analysis capability. An example of such systemic analysis is the evaluation of the balanced distribution of resources among system interactions. The systemic approach implies that there should be a balanced allocation of resources among the interconnections, to maximise the efficiency of innovation systems and also to avoid inefficiencies and waist of innovation resources from low intensive interactions. Based on the activity based costing (ABC) analysis of the spread of values for the performance indicators, values could be marked ‘minimal satisfactory’ if indicator intensity is 70% of the average indicator intensity value over the sample of regions. The binary value of one is assigned to indicators greater or equal to minimal satisfactory of the average value to a variable; otherwise the value of zero is assigned to it. The innovation system resource balance (ISRB) is defined as the total positive indicator balance status for all system interactions that can be assigned values from a minimum zero to a maximum ten.

 

 

 

SECTION 2: The Market

 

 

2a

What is the target market for the product?

National ¨

European ¨x

Global ¨

Please describe the characteristics of your target market.

3I is manly designed upon the availability of micro data available by Eurostat. Moreover can be expanded to a global level with the appropriate adjustments to formulas deriving the indicators for USA and Japan. The man target markets are:

The European regional authorities

Innovation management researchers and policy analysts

 

 

2b

How the product is characterized from the following options? Number of companies producing similar products in the field.

• Base – applied by all companies in the industry

• Leading – applied by a single or limited number of competitive companies

• Key –at a development stage, but has already proven its potential

3I is leading since it is applied by a small number of organizations, Such a organization is The European Innovation Scoreboard (EIS) is an instrument of the European Commission, developed under the Lisbon Strategy to provide a comparative assessment of the innovation performance of EU Member States. The EIS 2007 includes innovation indicators and trend analyses for the EU27 Member States as well as for Croatia, Turkey, Iceland, Norway, Switzerland, Japan, the US, Australia, Canada and Israel.

 

2c

What type of market demand will be satisfied?

• Existing demand – the market is already developed

• hidden (latent) demand – the market has yet to be developed

3I satisfies existing demand for systemic analysis. The implications of the 3I model analysis for policy makers and regional decision makers are very important, since they have the opportunity to examine the weak and strong interactions of a regional system. These interactions are related to specific innovation policies that must be either strengthened or highlighted. These findings are difficult to be interpreted by policy makers when they only have plain indexes in their hands, such as, the summary innovation index.

 

 

 

 

2d

What is the current stage of the product’s market life cycle?

• Implementation, implementation in production (leading to a radically new product offers)

• Growth (rapid spread within the industry or outside it)

• maturity (parameters of the technical characteristics of manufactured products reached their maximum, higher-grade products can be manufactured on the basis of technological substitution)

It is under development stage for the following modules:

A geospatial database with LOT2 and LOT3 typologies claiming all-important demographics using open and linked data, so the database receives constant updates.

A visualization tool for presented benchmarks and visual representation of the 3I regional model in a single region or in a comparative mode.

A benchmarking application that will provide comparative regional innovation analysis among regions.

A data validation module for assigning Eurostat values and presented in a normalized form.

 

2e

Strategic partnerships (existing or potential).

A strategic partnership with a Euroepan organization with profile of PROINNO is required. PRO INNO Europe is an initiative of Directorate General Enterprise and Industry which aims to become the focal point for innovation policy analysis and policy cooperation in Europe, with a view to learn from the best and contribute to the development of new and better innovation policies in Europe. The ultimate aim is to help European enterprises to innovate better and faster and to optimise and leverage complementarities between the various innovation support measures that exist throughout Europe (be it at regional, national and Community level). To achieve this, PRO INNO Europe gives a prominent role to national and regional innovation policy and innovation support actors.

 

 

SECTION 3: The Competition

3a

What is the competition within your target market?

There is limited competition. The main competitor is innovation union. INNOVATION UNION SCOREBOARD 2011
The Innovation Union’s performance scoreboard for Research and Innovation This is the second edition of the Innovation Union Scoreboard (IUS). Based on the previous European Innovation Scoreboard (EIS), the tool is meant to help monitor the implementation of the Europe 2020 Innovation Union flagship by providing a comparative assessment of the innovation performance of the EU27 Member States and the relative strengths and weaknesses of their research and innovation systems.

 

3b

What competitive advantages will the introduction of the new product ensue?

• lower prices based on lower production costs

• product differentiation (uniqueness of the product proposal)

The competitive advantage is based on product differentiation. The systemic innovation analysis often reaches a high level of complexity, based on empirical data of a limited number of regional cases. Policy makers are presented with complicated systemic models that could not be utilised as a policy evaluation or benchmarking tool. On the other hand, the metric analysis provides a wide range of composite indicators that do not reveal any information about the systemic performance of a region. The scientific contribution of 3I is the convergence of the chaotic systemic interfaces with the simplicity of the metric approach in the analysis of regional innovation systems. The 3I model matches the metric indicators with relative system interactions, constructing a systemic analytical framework of analysis. The metric system that was used to extract micro data is the European Innovation Survey. The analysis concluded ten interactions, which form a system with the corresponding regional actors

 

3c

Potential products relate to the following price range:

• High price range

• Average price range

• Low price range

3I is positioned at low price range since it provides systemic analysis at low cost. Usually this type of analytic results come after detailed expert review with high cost. Usually this type of analysis is costly since it combines   collecting reports of appraisals of innovation policy measures in the EU, analyzing these appraisals,  drawing lessons on evaluation practices and methods across Europe, assessing the usage of appraisals in policy-making and defining good practice in innovation policy making along the policy cycle.

 

3d

Potential products will be marketed:

• To regulated markets (e.g. heat supply, water supply, universal telecommunication services, agricultural products, fishing industry, architectural services)

• To markets operating on the principle of free negotiation between agents on the market

3I operates on a free negotiation market.

 

SECTION 4: Indicators

 

Estimated cost of the new products

110.000

Expected market volume (potential / maximum number of users)

235

Expected sales volume

1.340.000

Expected market share of the company (proportion between sales and total company sales in the relevant market)

50 %

 

KEYWORDS QUANTITATIVE ASSESSMENT (0-5)..

 

Please put X as appropriate.

1

2

3

4

5

Added-value potential                   

 

 

 

 

x

Size of future market demand

 

 

 

 

x

Competitive positioning of the product                 

 

 

 

 

x

 

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