Collaboration Promotes Innovation Success
Consumer products companies are increasingly adopting collaborative approaches to new product development. Many of them are enlisting external resources and technologies to accelerate new product design. Companies are deriving great benefits from external innovation and co-development. The diagram below describes Henry Chesbrough's foundational Open Innovation Paradigm.
Increase Your Company's Innovation Productivity
Is your company successfully meeting or exceeding its growth objectives through product innovation?
BFS Innovations works with you to help you develop innovations from concept to market. We provide your team with added "bandwidth" and proven technology scouting solutions. We specialize in the consumer products industry, and we offer our clients a productive "edge" through timely, effective, targeted solutions.
Our Solve-It, Spark-It, Vet-It methodologies offers clients the latest innovation resources.
Solve-It, Vet-It, Spark-It: Powerful Options for Innovation Success
- Solve-It is our most popular technology scouting service. Using a powerful combination of proprietary and public domain search tools, a disciplined approach and probing curiosity, we quickly and efficiently identify viable technical leads that target our clients' challenges. We directly contact technology provider candidates and "drill down" for information while keeping our clients' identity confidential until the ideal solution is found.
- Vet-It offers clients the opportunity to vet their technology provider leads through BFS Innovations' expert research methodology. This service saves our clients valuable time and also often reveals unexpected capabilities and opportunities that might otherwise be overlooked in an initial search. BFS Innovations issues a complete report on the technology provider(s), including areas of interest (and concern), and recommendations.
- Spark-It is a creative collaboration service that provides our clients' Marketing and R&D partners with enabling technologies (some using lateral translation) to help flesh out and demonstrate new product concepts, while concept development is in progress. Spark-It not only helps fuel the creative process, but also offers feasible solutions by identifying and enabling relevant technology options as concepts are being developed.
“Michael assisted in Prestige's efforts to identify external technology partners on which to build new business platforms. He identified two very viable partners that met the objectives of the technology search 'spot on.' Michael is the type of person with high credibility and integrity. He does what he says he's going to do, consistently. He brought significant value to our open innovation efforts. I will continue to work with Michael and BFS Innovations in the future to expand innovation possibilities.
-Jim Kelly, Former CMO, Prestige Brand