Our role

Evolution of an idea

UNB clearly understands its role in innovation and the evolution of an idea. The illustration above is one way of representing this process which is non-linear and works equally well to show how an idea develops for private, public or public-private partnerships. UNB has the ability to support industry in Phases 1, 2, 3 and 5 as described below.

Phase 1 - Proof of concept

The idea development stage is where research is validated and market research on potential markets and customers is conducted. UNB will work to determine if an idea has potential to be developed further. Early partnerships draw on the company’s awareness of customer needs and enable our researchers to address these should they represent R&D issues. A corporate partner would identify and address the gaps as part of completing the product/service as an overall package.

Phase 2 - Idea development

In Phase 2, UNB can assist in helping organizations identify the areas needed in ongoing R&D. We take the idea and, together, develop it into a marketable product or service. If additional technology or research is needed, we would bring the right partners together. Finally, we look at securing seed funding from potential investors who see the opportunity, leveraged either through the company, directly to the university, or some combination of both as best implemented.

Phase 3 - Product development

Phase 3 is about ensuring all of the bugs are addressed through alpha and beta testing. This will also help to identify potential markets/users. UNB can also bring in business advisors who will work with you to ensure the idea is presented and marketed in the right way for your potential customers. Continued leveraging of funds can occur at this stage with lesser degrees of involvement from faculty as the product/service reaches the final stages of pre-commercial development.

Phase 4 - Market distribution

Phase 4 is when it is time to take the product to market. The partner can develop their customer base and engage in the expansion and sales of the product or service. Typically in this phase companies will launch the product/service into relevant and identified markets through corporate marketing and promotional efforts.  Funding is often available to help offset these soft costs.

Phase 5 - Maturity

As is the case with all businesses, this is the phase where a mature product or service is refined, modified or redesigned to meet changing needs and to stay competitive - or is dropped in favour of some new replacement product/service.  In this phase, the company would typically adjust marketing and sales strategies, and engage in R&D and customer testing to take new products to market.