Innovation Strategy

MediPath Innovation Roadmap™

Stage 1 | Innovation Strategy

Why do I need an innovation strategy?

Whether you are a small business who is only developing a single product, an SME with a small number of products on the market, but are interested in developing new products, or a large organisation with a diverse product portfolio, having a clear innovation strategy is important to reduce commercial risk and maximise financial returns.

Having a clear innovation strategy means that you can develop products that are complementary to your current portfolio but sufficiently differentiated from competitor’s offerings. The innovation strategy involves determining the markets you want to play in, the resources necessary and target times to launch. The innovator needs to consider the market segment, regulatory and reimbursement considerations, whilst identifying constraints that the product development team need to work within.

This is the reason that MediPath begins with the Innovation Strategy at Stage 1. It involves a comprehensive analysis of what the company has done, what the company vision is and how innovation can help the company meet its objectives. We have divided this into several key steps based on experience with helping organisations to identify options and through a staged approach defining one or more research and development projects that should lead to company growth and success.

The Medilink Innovation Team utilise multiple strategic tools such as Boston matrices, bubble diagrams and multigeneration product plans that can be used to identify markets that you may wish to target and potential potential short, medium, and long-term product opportunities.

The output of the innovation strategy is the research and development plan(s), which contains the key activities and milestones necessary for successful commercialisation, with the timelines and resources  required with a clear direction for the initiation and prioritisation of new product development projects.


Tailor your roadmap to your device – free consultation

The Specialist Consultancy Team offer innovation, commercialisation, regulatory and international market access services, covering the full MediPath journey, with end-to-end support, helping to de-risk and fast-track innovation and increase the probability of commercial success.

If you would like to discuss any of these stages or to understand how the roadmap can de-risk your innovation and accelerate the speed to market, we are offering a free 30-minute consultation. Contact us on [email protected]

Patrick Trotter PhD MBA (TechMgmt), Stefanie Read MSc, Rashmi Raju PhD 


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