Got an idea for a new product?
Fill in the below form to get a free assessment of your idea, and find out whether our experts think it has commercial potential!
Most frequent questions and answers
Innovolo assess literally hundreds of new product and service ideas every year.
Before you start investing your money into an idea (or getting someone else to!), you need to make sure that the idea is sound and not just a fantasy. It can be hard not to get too attached to your ideas, but you must not get carried away.
Innovolo will help you to critically assess many aspects of designing, manufacturing, promoting and distributing your product sustainably.
Before you start making or selling your new product on the market, you will need to do research to see whether your idea is truly original or whether someone else has a similar product or service. Capturing a new market, i.e. something no one else is doing, may be more profitable than competing with a similar product or service. Innovolo help you to evaluate or enhance your original business idea.
Innovolo are legally bound by the terms of our confidentiality statement – see the last FAQ on this page.
It wouldn’t make sense for us to talk about your idea to anyone. The negative publicity that could happen if we leaked your idea is not something we want to even entertain the idea of.
If we think your idea is rubbish, we’ll tell you.
We have standard assessment criteria as part of the Innovolation Framework that we run every single idea through before we go any further.
Essentially, we’ll be assessing whether your idea has commercial potential for you, whether the technology needed for this product is even available yet, whether there’s a market for the product, and whether you have the funding available to develop the idea.
If you don’t have funding, get in touch with us anyway – we still may be able to help you out.
As soon as you fill out the form above and hit “Send”, we’ll get to work. Typically you’ll hear from one of our consultants within a few hours (unless it’s a weekend or bank holiday of course).
Basically, the form will send our consultants an email alerting them to your funky new product idea. They’ll do a real quick appraisal of the idea, and then give you a call to discuss further.
At this stage, you’ll be asked to sign a Non-Disclosure Agreement. This makes sure you and your idea are protected from it leaking into the public domain. Once your idea has gotten into the public domain, you will not be able to apply for patent or design rights protection very easily, so this is really important.
Great ideas can only translate into a successful business if people are willing to pay for the product or service.
First, you need to identify who the target market is for your product. Are you planning to sell to young people or seniors? Is your product primarily for women, men or both? Are you going to sell to individuals, other businesses or to the government? What income level would people need to have to be able to afford your product or service?
Once you know who you are going to sell to, you should consider doing some market research to find out if your target market would be interested in buying your product or service, and how much they would be willing to pay for it.
If your product or service is something people would be interested in, but not willing to pay for, you can consider alternative business models. Some businesses, in particular in the service industries, offer their service for free or at a low price, but are able to make money through other avenues, such as advertising.
Innovolo can help you create a go-to-market plan right from the initial conception of the product right through to the product landing on the supermarket shelves.
The Adviser (Innovolo Ltd) agrees:
- to keep confidential all confidential information relating to the Project for 15 years, when the agreement terminates;
- not to make notes, sketches, drawings, photographs, samples or the like of the Project without consent; to return, or destroy and provide a Certificate of Destruction, all relevant documents, samples or the like supplied by the Inventor concerning the Project upon reasonable payment of expense and written request;
- to maintain a proper complaints procedure with written details available on request;
- that no intellectual property is transferred to the Adviser by this agreement and no commercial relations created by the Inventor’s submission, other than regarding confidentiality;
- that all information they provide to the Inventor may be disclosed to other persons.
Conflicts of interest.
- The Adviser handles a large quantity of ideas so technical conflicts of interest may be likely to arise. The Inventor (you) accepts that the Adviser will act accordingly to ensure that the Inventor is not disadvantaged.
This agreement will exclude any information which:
- was already known to the Adviser before the date of the receipt of the information;
- or is available to the public in the UK or elsewhere;
- comes into the Adviser’s possession from a 3rd party without contravening the Inventor’s rights.
For this agreement to be in compliance with the British Standard BS 8538:2011:
- The Inventor confirms: that they have the right to disclose the Project and confidential information.
- The Adviser confirms: that if they become aware of other persons with a right in any of this information, the Adviser shall inform the Inventor before disclosing to those persons; external advisers may only be given confidential information by the Adviser to help the Inventor develop the Project, and only as much as is necessary for advice. Also, this will only be underwritten terms of confidentiality that are comparable. (Or to a regulated person with a professional duty of confidentiality such as a patent attorney). Unless the Inventor has reasonable grounds for suspecting the external adviser of a breach of confidentiality or other misuse of information, all information they provide is confidential, including identity; but in the highly unlikely event of any problems both the Adviser and the external adviser are liable for that external adviser’s breach of confidentiality.