|
A new software package, designed to test whether new business ideas are any good, has been launched.
The online software service, entitled i2m (idea to market), produces a feasibility report to help a potential business start-up decide whether its scheme is worth pursuing.
Users answer 16 multiple choice questions (which do not require them to divulge exact details of their plans) and an evaluation report is then produced.
The report comments on the feasibility of the idea, identifies its main strengths and flaws and even creates a tailored action plan to help company formation and progression.
The software is the brainchild of innovation consultants Inventya and is currently being trialled.
As reported by Startups.co.uk, David Thomas, co-founder of Inventya, said: "The majority of new businesses fail because the planning is flawed, not necessarily the idea.
"Everybody talks about business plans, but the feasibility research stage is crucial.
"i2m helps anyone who has a business idea to validate its commercial potential first, before getting the paperwork underway."
Research conducted by Inventya indicates that there may well be a large and eager market for the package.
Of 13 UK venture capital firms interviewed, 77 per cent believed the business plans they received would have benefited from a feasibility study first.
See copyright notice
| Other
Top Business News Stories |
|
Business
News 
