European interest in LTU Business’ market validation method
In recent years, the interest in LTU Business market validation method IDD has seen an increase from research institutes and universities around Europe. Institute Středočeské inovační innovation center (SIC) in the Czech Republic is one of them and their team has recently completed IDD Academy. – The method provides us with a concrete tool for helping our research organizations with their validation of project proposals and their commercialization strategies, says Athziri Moreno Romo, international relations manager at SIC.
LTU Business market validation method Innovation Due Diligence (IDD) provides support and quality assurance in innovation development processes at universities, institutes and companies. Today, the method is used on more than 300 ideas annually and is taught as best practice around Europe. A team at SIC in the Czech Republic has recently completed IDD Academy.
– SIC supports innovation from research organisations and small and medium-sized enterprise and has been looking for a good toolbox for commercialization, and we were lucky to find IDD from LTU Business after doing a exhaustive research of best practices across Europe, says Athziri Moreno Romo, international relations manager at SIC.
IDD Academy was originally planned to be held on site in Luleå during the autumn of 2020, but due to the pandemic the training was postponed and has now been carried out online during the spring. Dr. Jan Abrahamsson is the business developer at LTU Business who trained the team.
– It strikes me every time we work with international institutes that their challenges are very similar, regardless of which country they represent. It has been great fun to work with the team at SIC and the work will continue during the autumn, he says.
For Athziri the training fulfilled her expectations:
– To bring an idea from a researcher and take it as far as to design a potential business model, going through market hypotehsis and their validation was an incredible experience. I look forward to implement the method in SIC, she says.
Jan believes that the demand for IDD will increase even more in the future, in Sweden and across Europe, because of the ambition and work associated with the green transition.
– The transition is based on profitable innovation. You need to be able to understand your market to create commercially viable products and services. IDD is an effective tool for that process, he says.