Breakthrough innovation requires seamless functioning of many parts of an organisation. Innovia developed the Innovation Diagnostic Framework to help companies improve…
Planning for a major business threat
Our client, a leading medical device manufacturer, had decided to treat one of the major threats facing its business as an opportunity to overtake the competition. It saw a diverse range of opportunities, but also some apparently insurmountable challenges. Innovia was asked to develop an innovation strategy across business units that translated a broadly defined strategic need into specific business opportunities.
This challenge was broad in scope and multifaceted. Innovia’s agile and tightly-knit multidisciplinary team was able to rapidly structure the opportunity space. By systematically targeting the key uncertainties relevant to each area and developing analyses that spanned disciplines, we were able to confidently rule out large classes of solutions and pinpoint where viable opportunities existed.
Innovia’s work laid out initial financial models, regulatory routes and technical options for lead opportunities. We worked closely with a senior cross-functional client team to build the highest confidence in the innovation strategy, and to embed the strategy in the organisation. The strategy immediately enabled our client to make clear decisions on its innovation portfolio, which projects to boost and which to drop. The client team is now launching a $30 million R&D program to pursue one opportunity, and is creating an FDA submission for a second.