Transforming a new idea into an actual product or service can entail a long and complex process, so having a clear idea of what is required and how the organisation can prepare for the work involved is crucial. Successful and innovative organisations have procedures and processes in place for streamlining the work involved, and it is important to take advantage of existing experience. Doing so makes the process of transforming from idea to commercial advantage as smooth as possible.
The work involved in applying for funding requires extensive effort, whereby the project and its content have to be elucidated and presented in detail. It is important to illustrate the degree of innovation and newsworthiness, and to include business intelligence and a description of competing options and solutions. A decisive factor is to ensure that the project’s approach matches the government agency’s requirements. Consequently, an ongoing process is required to ensure that the project description offers a certain amount of leeway for changes during the course of the project.
It is also important to take into account that grants and funding need to be available for all aspects of the development work, from feasibility study to pilot tests. Green Forest Advisors can help match planned initiatives with feasible grants at an early stage, and thus ensure that you can benefit from available funding.