LTU Business trains technology transfer teams in South Africa and Norway in Innovation Due Diligence

The Innovation Due Diligence method is used to validate the market potential of new products and services, and has been developed specifically to assess innovations at very early stages and thus ensure that investments goes to the ideas with best potential impact. The method is developed by LTU Business and is used by Luleå University of Technology and a number of other European research institutes. Recently, LTU Business has been comissioned to train South African and Norwegian innovation leaders and technology transfer teams in using the method and driving innovation impact.

– One of the most common mistakes when developing new products and services is to spend too much time and money on a new concept or technology before realizing that it is not good. By using Innovation Due Diligence, you find out what the real potential looks like, and also get insights into who the target audiences are and how your innovation needs to be marketed to be attractive, says Kent Mrozek, business developer LTU Business.

– The training has provided me with new tools and knowledge that are very helpful and will be crucial for our work in the technology transfer office, said one participant.

The method can be applied to new research and is therefore an interesting tool for teams working with technology transfer and utilization of research, such as innovation offices. In the course, participants learn to use and coach others in Innovation Due Diligence, and get inspiration and tools to drive technology transfer or utilization as a service.

About Innovation Due Diligence

Innovation Due Diligence is trusted with more than 300 ideas every year from the private, public and academic communities. The method is used by Luleå University of Technology, RISE (Research Institutes of Sweden) and EIT (European Institute of Innovation & Technology), Nobel Science Park and others.

Read more about Innovation Due Diligence.