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Stage – ID2: Design the Solution

Design is a vital part of the product development process, and can be defined as the formulation of an idea as a solution to a problem, or as a way of doing things better. In this context companies providing project, business or technology management services can be said to be involved in design.

Select a task name below for more information

Task Overview

What you need to do:

  • Sketch out the potential cost of developing your product and the possible return on investment. Your market predictions need to be higher than the amount you spend developing the product.
  • Identify sources of funding to develop your business case and undertake a feasibility study. This process is critically affected by how much you will need.
  • Secure R&D funding if necessary. Sources will depend on your status. Organisations such as Business Link can help by recommending funding sources, by supporting your proposal in writing, and with appropriate consultancy services.
  • Prepare an engaging description of the clinical and commercial opportunity for your product, using language that non-experts will understand.