Advisory Services

Our role:

At SpringBoard West Innovations Inc., we have a highly skilled team who are advisors, mentors and coaches for our clients. We provide access to management guidance and technical assistance.

We will help identify whether or not there is a fit for your product in the market. We'll guide you through the development of your business model, help you identify potential financing opportunities and assist you in preparing the documents and presentations you will make for potential financiers.

We can also provide you with access to rental space, shared business services, office equipment and support services.

While our goal is to provide clients with as much business development information and support as needed, we do not act as agents, representatives or distributors for our clients. If our clients require these or other professional services, we will help them link-up with the appropriate individuals or organizations.

Our Services:

SpringBoard West Innovations Inc. uses a proven three-stage process model to accelerate the transformation of an idea into a commercial reality.

Stage One - The Interview:

In the first stage, the SBWI staff member meets with the prospective client to explain our process and the prospective client presents an outline of their innovation. If the idea/project fits within SBWI's mandate and the prospective client wishes to continue, the project moves to the Diagnostic Phase. If it does not fit, SBWI will refer the individual to other business resources.

Stage Two - Competitive Assessment

In the Competitive Assessment phase, the innovator and the Innovation Officer explore the idea/invention as well as the problem it is intended to solve. The officer will provide value-added coaching in relation to market research, competitive analysis, business planning, as well as product management and operations. This phase includes identification of the SBWI hours required as well as any additional resources required.

After completion of the Competitive Assessment, the client and SBWI will have developed a work plan.

Stage Three - Project Status

This stage is the execution of the work plan. Deliverables for this stage are a commercialization strategy, a business model, a business plan and an operational work plan. SpringBoard West Innovations will work with the client to assist him/her in accessing the funding required to launch the new venture.

Because time is critical in launching any innovation, SBWI's target is to move from stage three into the market within 24 months. SBWI and the client will commit to launching the enterprise as soon as feasibly possible.

Payment

As a client, you will pay for the services you access through SpringBoard West Innovations Inc. However, to assist you in moving through the start-up phase, we don't require a retainer or up-front fees. As cash flow is often an issue, we can offer deferred payment for project costs until you receive major funding, be it from an investor or revenue from a contract or sale.

Once we have identified your needs as a client, we develop a project plan and outline our project fees. Our fees will vary with the amount and complexity of work required. Each repayment contract is negotiated separately.