The world is in constant change, driven by the development of new and updated products. Without these products, the growth in society would in the worst-case scenario stop completely. Can you imagine how your life would be without the railway, electricity or phone? All these examples have at some point started with a person that has an idea. This person then begins to think about it and at some point, begin the journey to reach the market with it. The ideas that become a product and is of technical nature and at the same time has a height of originality, is classified as an invention. When a market adopts an invention, it becomes an innovation. All ideas have not the same possibility to succeed in the market, some have great potential meanwhile some inventions just fail. In those cases, when a person aim to reach the market with an idea, it’s important to identify if it is one of those that have the possibility, and this is better to have knowledge about at as a early stage as possible. This is important to do, so the inventor can focus their resources, such as capital and time, in the right direction.
We have investigated the parameters that affect the ability to achieve entry into a market to get a better understanding of whether an idea has commercial potential or not. We have also in addition to the investigation examined how these parameters can be used to influence the chance of success.
The work was done through literature studies and interviews with people who have experience of inventions and the innovation process. The literature review and interviews led to several parameters that are of interest. By comparing this with the theory, we could analyse whether these had effects or not, and if so how much. Further analysis was performed to identify how these can be used in practise.
The parameters that were identified as most important was originality, market awareness, knowledge and skills, motivation, transparency, timing and financial resources.
We have also proved that theory and reality are far apart when it comes to how innovators work and how researchers think is the best way. The inventors believe that the technical solution is the most significant parameter, while the theory considers the need for the product is the most important. Our conclusion is that both the technical solution and the need are necessary to achieve entry into the market. The inventor can obtain knowledge about all these parameters by working with more structure, look at the idea more objectively and make inquiries with potential customers. We have also found that it is important to share the idea with others, but only to a certain level due to demands for patent grants, to be able to get help to gain knowledge about the parameters that the individual does not possess.
There is much to gain from the success of verifying ideas at an early stage, so time and energy can be allocated to the ideas with the greatest potential to succeed. How innovators can use the parameters in a practical way are presented at the end of the report.