//Innovation assessment
Innovation assessment2019-07-15T09:29:50+01:00

Innovation Assessments offer a detailed assessment of commercial readiness, carried out by qualified business analysts and relevant sector and innovation specialists.

Innovation Assessments offer potential spin-out companies a detailed assessment of their commercial readiness, highlighting priorities for future development and supporting development of a commercialisation action plan.
Delivered by business solutions provider UMi, the commercial opportunity will be assessed by qualified business analysts and relevant sector and innovation specialists.
Working with the academic founder and executives, alongside the relevant university’s technology transfer team, UMi will carry out a multistage business diagnostic process leading to a detailed report and action plan.

Innovation Assessments are automatically offered to companies recruiting a CEO via our Executives into Business programme. Applications can also be made via your university’s technology transfer team.

“The team, including expert associates, that we’ve put together for this opportunity has unrivalled experience in business analysis, university spin-outs, technology commercialisation, venture capital and business growth strategies.”
Simon Allen, Product and Investor Director, UMi

Frequently asked questions

What will the assessment look at?2019-08-07T15:40:16+01:00

Innovation Assessment is a multistage business diagnostic process involving detailed assessment of a range of elements (summarised below). The diagnostic process leads to the production of a detailed report and associated action plan.

Who will be involved in the assessment?2019-08-07T16:32:47+01:00

Innovation Assessments are delivered by business solutions provider UMi, in a contract with Durham University.
UMi will typically engage with the academic lead, Technology Transfer lead and (if in post) the executive appointed to support the spin-out, however the teams from partner universities will say who they want to be involved.
UMi will make contact as requested following a referral.

How does the assessment work?2019-08-07T16:36:26+01:00

The Northern Accelerator Project Manager will make the initial referral to UMi to trigger the service.
The process will involve:

  • Stage 1 : A preparatory review of work already done on business readiness, including a discussion with the technology transfer lead, review of the referred information pack, background research and gap analysis, and consideration of any prior discussions with investors.
  • Stage 2 : The diagnostic assessment
    • Stage 2a : Initial general business assessment by a business analyst
      An initial meeting or telephone-based discussion with those involved. This will be structured around a diagnostic workflow designed to identify areas for more detailed or specialist assessment and to initiate preparation of a draft report and action plan.
    • Stage 2b : In-depth assessment by a sector specialist
      The specialist will review the draft report and action plan, undertake further research and hold discussions to follow up on specific areas highlighted by the initial assessment. This stage will provide greater focus on investment readiness, a sectoral perspective on each diagnostic element and a specialist intellectual property review.
  • Stage 3 : Delivery of the assessment report and action plan and agreement of any additional support to be provided, which may include investment panel support or later follow-up to review actions.
What will I receive as an output from Innovation Assessment?2019-08-07T16:40:06+01:00

A detailed assessment report and action plan will be provided to the academic and technology transfer leads, as well as the executive (if in place). A copy will be supplied to the Northern Accelerator Project Manager. The Northern Accelerator Project Manager will review the report against the information pack provided on referral to ensure that the service has provided additional value. A service evaluation questionnaire must also be completed.

How can I arrange an Innovation Assessment?2019-08-07T16:39:42+01:00

If your proposition has received approval for our Executives into Business programme it will automatically be considered for an Innovation Assessment.
If you’re not engaging with Executives into Business, your technology transfer representative can help you apply for Innovation Assessment support, so please contact them directly in the first instance.
Once approved your technology transfer representative will complete a referral form, along with a referral pack comprising copies of applications for any Northern Accelerator support, a copy of the Executives into Business tender, information on background IP such as copies of patents held and any other relevant available documents, such as market assessment information. This will allow the Northern Accelerator Project Manager to trigger the service.