Innovation Assessment
Typically, innovations are not easily spotted in the early stages of their development. Often, they emerge unnoticed and only much later is their economic and ecological potential recognized. Therefore, the assessment of innovations in the early phase is one of the most important instruments for the evaluation of processes, departments or even whole companies.
The Innovation Institute has many years of experience in the assessment of innovations. We support companies with the development and realization of innovative ideas, give competent feedback and advice regarding new product ideas and evaluate for our clients the market fit, degree of innovation and the applicability of various innovative concepts and ideas.
In addition to the assessment of innovations, the Institute carries out an innovation certification for some companies. For this, a new product or service is thoroughly tested with regard to its “innovation degree”, “innovation applicability” and “innovation benefit”. In the end, the Institute issues a performance description and an innovation certificate, including a badge which marks the new product as a “certified innovation” and shows the Institute’s evaluation score.
Example: Innovation Certification
In year 2013 the Innovation Institute has carried out an innovation assessment and certification for UDG eReturn. UDG eReturn is an online-marketing software solution. The Institute supported and consulted the developers’ team and contributed to the development of an attractive and innovative system. Take a look at the following excerpt from the performance description, issued by the Innovation Institute:
UDG eReturn is an innovative system for the transparent analysis, assessment, control and optimization of the budget allocation in online-marketing. [...] It shows inefficiencies and potential for optimization with regard to the allocation of resources for different digital channels. [...] The simple and user-friendly operation offers maximum benefit and UDG eReturn provides relevant information for decision-makers on all levels of the marketing management.
With regard to innovation degree and innovation benefit, the Institute issued the top mark of 5 stars. The innovation applicability was also marked very positively with 4 stars. All in all, the institute is very much convinced of UDG eReturn and gives a clear recommendation for its purchase and application.
Study innovation management: innovation and growth
This study provides valuable insight into the innovation strategy of German companies. The biggest differences between the innovation champions and the other companies are - as it turns out - in the management of innovations and less in the available resources.
To read this publication in german click here.