Impact Innovation’s Commercial Readiness Assessment (CRA) helps you understand and communicate the maturity of your initiative.
A CRA assessment can be used to identify where resources are needed to progress an initiative. Or the assessment can be used to report Return on Investment (ROI) – for both early and late-stage initiatives. The tool assesses progress against the four following critical impact categories:
➢ technology readiness,
➢ target market readiness,
➢ manufacturing and distribution readiness
➢ revenue and cost model readiness.
When commercialising a new idea or technology, we usually start with a lot of assumptions. For example, about the impact or commercialisation strategy, what potential stakeholders or customers need, who we might partner with to deliver and the costs and revenue.
The impact process is about progressively replacing assumptions with facts. Impact Innovation developed the CRA to benchmark initiatives, based on proven methodologies and commercial experience (it has been used in 600+ projects). The results show ROI or identify where more information is needed so better investment decisions can be made.
The following questions are about current research projects.