Exploiting innovation can help a business to grow and scale by attracting investment and giving the edge in the market
What is innovation?
Process
Finding ways to become more efficient and productive in your business. This could include automating services or restructuring the team.
Service
Making changes to an existing service, or creating a new one entirely. For example, this could include moving a service online or pivoting an existing service for a new customer demographic.
Product
Improvements to an existing product adding a feature or reducing manufacturing costs. This could include adopting new processes or pivoting an existing product for a new industry.
Marketing
Finding new and creative ways to market and sell to your customers. This could include new branding, packaging or prices.
Management
Improving and innovating the way the business is managed. For example, re-evaluating the leadership team or business strategy.
Revenue
Any innovation in which the main goal is to increase profits or revenue. For example, rethinking the pricing strategy.
Business
Any innovation to improve the core business strategy and business growth process. This could include entering into new partnerships or investing in new technologies.
Industry
Any innovation in which the goal is to adapt the industry or market for your product or to create a new market entirely.
West & North Yorkshire Chamber is a key partner of Innovate UK Business Growth:
Our aim is to help you to drive business growth
We offer intensive growth and scaling support tailored to the needs of ambitious, high-growth, innovation driven small or medium sized businesses through our partnership with Innovate UK Business Growth, which is a key part of Innovate UK, the UK innovation agency that drives economic growth.
Our innovation and growth specialists work intensively with clients to help them hone their commercial strategy and identify targeted action to:
• Exploit innovation to grow and scale
• Source funding and finance
• Enter global markets
The service is free of charge, for more information please email us or complete the form below.