Innovation Canvas
User Needs
Who is the end user of the innovation? What user needs does your innovation meet?
Pain Points
What difficulty or frustration does your innovation overcome?
Customer
Who will pay for the innovation? What is their incentive to pay?
Size and Trends
What size is your target market and what realistic market share can you take? How might this change over time and which trends could affect it?
Barriers to Entry
What obstacles make it difficult to enter the market? How will you overcome them?
Competition
Which competing product, service, process or management innovations meet the identified user needs?
Freedom to Operate
How will you ensure your innovation doesn’t infringe the Intellectual Property (IP) rights of others?
Legislation
What regulations must your innovation comply with?
Standards
What standards apply to your innovation, and could they help you to market it?
Ethics
What ethical issues are involved in bringing the innovation to market?
Identify
What potential sources of risk have you identified in the development and delivery of your innovation?
Assess
How will you calculate the likelihood of a specific risk occurring and its impact?
Mitigate
How will you reduce the chances of a specific risk occurring? If it does, what is your plan for managing it?
Description
What is your product, service, process or management innovation?
User Benefits
How does your innovation meet the identified customer and user needs? What further opportunities can you foresee to create value from the innovation?
USP
What is your innovation’s Unique Selling Point (USP)? The benefits that make it stand out from the competition.
Discovery
What is the sales and marketing strategy for your innovation? How will customers and users learn about its benefits, and how will it be made available to them?
Transaction
How will you price your innovation? How will customers pay for it?
User Experience
How will people make use of your innovation over time?
Economic
What wider economic impacts can you foresee, either positive or negative?
Social
What social impacts can you foresee, either positive or negative?
Environmental
What environmental impacts can you foresee, either positive or negative?
New Intellectual Property
What potential is there to create new IP through your innovation? How will you protect any new IP? e.g. copyright, patent, design rights, trademark?
Existing IP
What existing IP might be exploited by your innovation?
Licensing
How might licensing IP from your innovation create additional value?
Champions
Who in the organisation has the passion, skills and influence to make this innovation happen?
Management
What expertise does your management team need to deliver the innovation? How will you ensure this is in place?
Strategy
How does this innovation contribute to your organisation’s strategic plan?
Revenue & Cost
What are the revenue targets and projected profit margins for the innovation? What will it cost to develop and bring the innovation to market?
Funding
What public funding or private investment could support this innovation? What is your strategy for securing finance?
Cashflow
What is your budget for each stage of the innovation process, and how will you cover the cost?
Ideas
What processes do you have to generate, develop and prioritise new ideas?
Design
What design, prototyping and testing capabilities are in place? How will you involve users and stakeholders in the R&D process?
Technology
How will you solve scientific and technical challenges?
Skills & People
What expertise is required to produce and scale-up your innovation? Which teams need to collaborate, and how will you ensure this happens?
Equipment & Materials
How will you ensure the right facilities, materials, equipment, software etc. are available to meet growth in demand?
Collaboration
What can be done in-house, what should be outsourced? How will you ensure the right partners or suppliers are in place?