Product innovation involves a lot. Not only technical development, but also how the new product relates to other developments. It is important to make strategic choices early on based on substantiated market research and a good evaluation of the business case, both for entrepreneurs and investors.
Market research and strategic choices: The market for sustainable products develops rapidly and is constantly changing. If the development of a product takes more than a year, the market and prices have changed by then. In order to make the right choices, it is important to research this well and identify the consequences so that the right choices can be made.
Renergize Consultancy clearly maps market developments, as well as the status of a project's development and the trajectory still needed to reach market introduction.
Examples of strategic choices:
- New company wants to market electric heating. How does the price and comfort compare to other alternatives for gasless heating? How long will it take to reach production readiness, and what do the other technologies do in that time frame? What does that mean for the company?
- Company had been conducting research projects for years, especially focused on how residents/users responded to energy-saving campaigns and products. The demand for these types of projects declined considerably. However, the demand for consulting in the field of promoting sustainability among users/residents was increasing. Together we mapped out how the knowledge gained in the research projects could be converted into advice to clients, and how to market this.
Technical due diligence: There are many start-ups coming up with sustainable products, do you have all the technical knowledge and knowledge of the market developments to properly assess this? Renergize Consultancy looks at the technical claims, asks questions and looks at whether the time-to-market is correct and whether necessary testing and certifications have been taken into account here. What steps still need to be taken to get to production? This prevents the time/investment required from being underestimated. If you also take a good look at the market developments during the same period, the product can be better valued.
Example:
- Investor had received presentation from a start-up in the field of magnetic refrigeration. Helped investor with asking right questions at the presentation, and prepared questions in preparation of personal interview with the start-up. Also checked whether the claims are correct and what is happening in this field in the rest of the world.
Technical product development
Renergize Consultancy can also help with technical product development, by creating a plan of action, picking the right materials and processes, and arranging testing.
