The 9 Dimensions of Growth
Find out more about the full 9 Dimensions audit, which is delivered by an experienced Innovate UK Business Growth innovation and growth specialist.
Through a deep dive analysis at the outset of our engagement with you, we can tailor our support to help you set and realise growth and innovation goals for your business.
Here is a preview of the areas we address, but the full 9 Dimensions audit is delivered by an experienced Innovate UK Business Growth innovation and growth specialist. The audit:
- Is designed to support the growth of innovation-led companies specifically, being based on the nine most pertinent dimensions of business growth
- Provides management teams with a 360º view of their business, identifying the key issues that the business faces and insights into the key priorities to effectively address them
- Shapes the delivery of tailored support with a focus on priorities for action that will enable the company to achieve its growth goals.
We’ll help you prioritise issues to tackle:
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Establishing the ambition and vision of the company, validating the opportunity and developing the strategy, business model and road map to realise this. Covering:
- Clarity of vision and market opportunity.
- Level of ambition for your growth life cycle stage.
- Validation of business model – desirability / feasibility / viability.
- Management procedure.
- Innovation culture.
Understanding the alignment between the company’s innovation strategy and the key political, environmental and economic drivers.
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Understanding and exploiting the commercial potential of your product/service/technology and equipping you for market readiness.
Building on industry knowledge of market size, industry trends, the value chain and the identification of the right value proposition for key customer segments.
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Evaluating your current innovation strategy, processes and methodologies to identify how we can help your innovation commercialise and practice be more effective. Covering:
- Idea generation.
- Idea evaluation, prioritisation and investigation.
- Innovation development.
- Project management.
- Processes for successful commercialisation.
- Monitoring and review of innovation.
- Innovation management standard.
- Internal Capability.
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Evaluating the business growth, technical skills and experience within the organisation to help shape a more effective structure and deliver against growth ambitions and innovation potential. Covering:
- Business models for growth.
- Skills.
- Key strengths & weaknesses.
- Operations.
- Experience.
- Drivers and enablers.
- Change management.
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Ensuring business readiness for and experience of collaboration for the purposes of business growth and scaling as well as research and technology transfer.
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Helping to maximise market and investor potential through the utilisation of Intellectual Property Rights, covering:
- Effective identification, protection and exploitation strategies.
- Developing awareness and processes to identify, capture and manage IP, together with ensuring terms and contracts for staff and third parties reflect IP ownership.
- Developing and delivering commercialisation strategies with respect to business model and market introduction, or the licensing out of IP.
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Establishing the structures and data frameworks to enable the effective measurement, analysis and management of every aspect of the business to help drive improvements, shape strategy and guide operational effectiveness.
- Innovation goal setting.
- Innovation project performance.
- Innovation impact for the company.
- Market and societal impact.
- Performance management.
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Helping identify the best sources of support, to achieve your growth ambitions and objectives for the business. Covering:
- Engaging with publicly funded and commercial / private sector business support.
- Business support ecosystem awareness in general.
- Involvement in business accelerator programmes.
- Engaging with the local business and innovation community.
- Awareness of national programmes.
- Awareness of local programmes.
- Engagement with support providers to achieve better results.
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Understanding the financial needs of the business to support growth and scaling ambitions.
- Business financial health & management: reserves and cash situation.
- Financing research, innovation and growth.
- Public grant funding programmes.
Debt finance. - Private/equity investment: investment readiness.
- HMRC schemes (Including R&D Tax Credits and EIS).