Understanding Innovation and Commercialisation Assignment

Assignment Task

Vocational Scenario

Organization: ‘Creative project funding platform’ stands out among numerous crowdfunding platforms to gather funds from the public, bypassing traditional investment routes. Project creators set a deadline and a minimum funding target, and if the goal isn't met by the deadline, no funds are collected. The platform is open to backers worldwide and to creators from a multitude of countries, including the US, UK, Canada, Australia, New Zealand, Denmark, Ireland, Norway, Sweden, Spain, France, Germany, Austria, Italy, Belgium, Luxembourg, Switzerland, and Mexico

Recognized as one of the largest crowdfunding sites tailored for creative individuals, Kickstarter has facilitated the raising of over $7 billion, supporting more than 100,000 projects since its inception in 2009. With a user base exceeding 30 million backers, Kickstarter caters to creative professionals and provides a platform for individuals to seek funding for personal projects, business ventures, or nonprofit initiatives.

Role: As a newly appointed Trainee Executive Consultant at ‘Creative Project funding platform’ part of my responsibilities includes assessing various innovation projects presented by clients seeking crowdfunding assistance. It's crucial for me to grasp concepts related to innovation and commercialization, as I'll be reviewing the innovation projects submitted by clients for fundraising purposes.

Task 1: Written Report

As a new trainee, you are to complete onboarding training to help you understand innovation and

As a new trainee, you are required to complete onboarding training aimed at enhancing your understanding of innovation and commercialization within various organizational settings. As part of this training, you have been tasked with preparing a case study report on different companies. Your objective is to critically examine how innovation is effectively cultivated and integrated into diverse organizational contexts, including small and medium-sized enterprises (SMEs), large corporations, and multinational companies. Additionally, your analysis and evaluation should be supported by additional business examples sourced from research. . (Use at least two organizations for the study).

The report should encompass the following business activities, incorporating insights from at least two organizations for each category studied.

• Discuss the ways in which different organizations source and foster innovation, using specific examples.
•  Analyze the ways in which innovation is sourced and supported within different organization environments and cultures.
• Differentiate between different types of innovation and how they are processed within organizations.
• Analyze how different types of innovation are successfully processed within different organization settings

Task 2: Written report

Building upon your research on innovation and commercialization from the aforementioned learning outcomes, in your capacity as a Trainee Executive Consultant, you have been tasked with crafting a business case driven by commercial objectives for innovation. This includes devising an action plan for its development and outlining methods for effectively safeguarding it within the broader business landscape.

The business case for innovation should address the following areas.

• the executive summary
• statement of the problem and the need
• discussion of possible options
• recommended idea and why it is innovative
• market analysis
• details of chosen option and need for development
• expected benefits, e.g. financial, social, environmental
• value and financial return on investment
• investment requirements to move forward and next steps. Assessment of the business requirements for innovation.

Evidence-based research to determine full market potential, operational and technical feasibility, potential time and costs of development of a new product/service, as well as technical, regulatory and legal risks.

• Budget requirements for design and development, project management and marketing.
• Techniques for in-market testing and iteration routes to market and market launch.
• The impact of advanced technology and information management on research, testing and developments methods.

You have also been asked to deliver a critical assessment of various tools available to organizations for the development, retention, and protection of knowledge and intellectual property within the broader business environment. Your evaluation should encompass an examination of the diverse tools that organizations can employ for these purposes.

Your report should consider the following:

• The definition of IP.
• Exploiting knowledge and intellectual property rights.
• Key IP tools, including copyrights, trademarks, design rights and patents.
• The role of branding in protecting the innovation.
• Limitations of IP in an international context.
• Growth of open source and open innovation platforms on IP

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