Innovation refers to the ability to explore and successfully develop new ideas. In order to be successful, the idea must enable the match between market needs and expectations, to be economically viable and sustainable, and last but not the least, the new idea must provide financial return to those exploring it (investors and entrepreneurs bringing it to the market).
Innovation is not invention – but in order to innovate, we need to invent
An invention can lead to the creation or discovery of something new, whether useful or not. It is measured according to the perceived aesthetic value, therefore, it is highly subjective.
An innovation should be something economically viable and affordable with value to someone. A successful innovation solves a problem or adds something new to the market, and it is measured by its effectiveness in solving the problem, which can be done in an objective way, following a clear scientific approach.
Innovation can be classified in 3 categories:
Optimization of the existing business and it is usually associated with costs reduction and small improvements to existing products or services
It comes from a clear differentiation introduced to the initial product or service. It has to create a dramatic change in the market. Disruptive innovations can create or destroy industries, by changing the demand.
It happens when a new infrastructure or lifestyle is created. It is a type of holistic innovation that requires the combination of several innovations in order to deliver a valuable business proposition.
inoDev positions itself as an ambassador of the theories of disruptive innovation of Clayton Christensen. Disruptive innovation represents a drastic change in the way products or a services are produced or consumed and it brings a new paradigm to the market segment, which modifies the existing business model.
For us, disruptive innovation is the only valid way in today’s world, to respond to the fast pace of change in all dimensions – social, economic, political, technological etc.
These changes in reality lead necessarily to a change in consumers’ behaviours, needs and preferences. In turn, companies can only maintain their position in the market if they manage to keep on delivering value to its customers, bearing in mind that the market is not static. It is constantly changing and evolving! InoDev methodology helps our customers to timely understand this changing reality and gives them the ability and mechanisms to create new businesses or to adapt existing ones to effectively integrate this cycle and succeed on the market.
Create value through practical application of disruptive innovation concepts.
inoDev was founded in 2011 with the aim of helping new and incumbent companies to manage and trigger innovation in all their dimensions, in order to achieve a distinctive strategic positioning, and maximize results and overall profitability. We use our energy and expertise to create and develop innovation, transform people, relationships, and organizations. We work every day with our stakeholders to build an outstanding future – and from our point of view, it seems wonderful.
We help companies, regardless of their industry, size, origin or seniority, to be successful through innovation! Our clients range from start-ups to mature companies in Portugal, Poland, Angola and Mozambique. We guide them throughout the innovation process, from conceptualization, selection and prioritization of ideas and their modelling, to the implementation stage. All processes are monitored and aligned with the desired strategic positioning.
We apply the concepts and processes of Disruptive Innovation (C. Christensen) to create new value propositions for our customers, either by opening new markets or extending existing markets beyond their limits.
The main competitive advantage of inoDev is the extensive national and international experience of our top managers and employees. inoDev employees have specific training in several areas, such as General Management, Engineering, Strategy, Financial Planning, Information Systems, Human Resources and also in a more recent area – Innovation Management – giving them the knowledge and the abilities they need to have a superior performance and deliver outstanding products and services to our clients.
inoDev offers a tailored consulting service by supporting our clients through all innovative process, from conceptualization, through modeling, to implementation. All processes are continuously aligned and monitored.
We developed a proprietary Methodology, which helps companies implement and successfully manage innovation. By redefining, redesigning and rethinking their global strategic positioning and specific products and/or services and processes, companies can overcome challenges on the different perspectives of their businesses.
The first stage of the methodology is called Ideation and Planning and has 4 phases:
The first phase – “research” – consists of the acquisition of relevant information, study the company’s competitive environment, 360º analysis (including interviews with customers, suppliers, competitors and partners), benchmarking with other market solutions, study trends, feedback of potential users and non-users and any criticism towards the project. The next phase “ideate”, consists of an event (Innovation Event), where the information gathered is presented and discussed together, a process 2 to 3 days of brainstorming. In this sessions the paths or strategic options to develop / study / test, for the construction of the future Business Plan (Business Plan) will be fine-tuned.
The third phase “select”, consists on the concept testing near potential customers or users of the concepts tuned in the previous phase and their modelling, to properly assess the strengths, weaknesses, opportunities and threats (risks) inherent to the proposal. Based on the options / projects with more potential, various scenarios are prepared and a cost / benefit of each is carried out.
Final decisions will be made, constituting the fourth –“model” – phase, in which inoDev will support the company in building a detailed action plan of intervention for the implementation of agreed solutions.
During the “implementation” stage inoDev will conclude its action plans, close the financial modelling file for the previously selected options and shall, if necessary, outline the further business and marketing plans
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