The Development Process
At Morgan IAT we know that getting an idea or product to market can be difficult, costly and that it is not always easy to obtain finance. As a company we invest 20% of our turnover into R&D. On a few projects a year we try and help innovators and inventors on getting their projects to become a success. This support, which we offset into future success, is done on a project by project basis and could be in the form of a royalty, a share in the IP rights or a manufacturing agreement. Each idea or product is regarded as unique and each partnership is negotiated on that basis. This approach reflects our passion for innovation and our desire to be an enabler in bringing ideas to market.
Morgan IAT will provide you with a professional, innovative service from project initiation all the way through to the product going to market. We use the Stage Gate process to ensure all important factors such as market research, costs, client involvement, design and specification, product development and manufacture are considered.
Stage Gate 1: Enquiry
We receive your idea via our designated account – firstname.lastname@example.org, and we send you a New Ideas Data Sheet (NIDS). You may also wish to complete a Non-Disclosure Agreement (NDA). The initial concepts are discussed with our New Project Coordinators and the initial feasibility of the project is informally reviewed at Director level.
A decision is made quickly as to whether an innovation will be taken forward, any we do take forward must meet stringent criteria.
The following should be considered as some of our minimum criteria when assessing potential projects:
-Is your idea truly new, innovative and going to have an impact? We are looking for fresh ideas that are genuinely distinct from other products in their field and that are going to have a positive impact on society.
-Does your idea have a credible design? We offer exceptional R&D support to the projects we decide to proceed with, but we require your idea to have a credible design that we can initially work with.
-Have the basic exploitation avenues been explored? You should have a basic understanding of the potential market and competitive environment of your product that we are able to take forward and research in greater depth.
-How much has your product been circulated to other companies? We are looking for ideas that have not been overly circulated.
Stage Gate 2: Meetings
An initial meeting takes place between you and MIAT to discuss the idea in more depth, and an Initial Meeting Assessment (IMA) is completed. The concept can be discussed under a non-disclosure agreement (NDA) to ensure confidentiality.
Stage Gate 3: Assessment
An initial product assessment takes place, the intended date range of an assessment period and target finish date are set, and the relevant reports are written up and completed.
Stage Gate 4: Contract
This is the point at which MIAT will present a proposal, or a number of proposals, for you to consider. These will be based on your requirements, and we pride ourselves on being flexible to all types of agreement. We will define a communications strategy to make sure you feel involved at all points and we provide you with a project plan. This is also where we agree on costs and commit to timescales.
Stage Gate 5: Development
After signing a contractual agreement, the design phase begins which will generally lead to a prototype product being made. A framework is also put in place to ensure the product will meet all necessary approvals. We hold regular design specification meetings with you to discuss the product’s progress, air any concerns and make any changes. This will normally be the longest stage.
Stage Gate 6: Certification & Sign Off
We complete CE marking as required and any other approvals that have not already been covered such as with the Food and Drugs Administration (FDA). We may carry out product trials and reviews and we can investigate other exploitation avenues.
Stage Gate 7: Launch/Manufacture
The culmination of a lot of hard work! If we have gone down the route of a manufacturing agreement, then the product moves from R&D to Production here at our Hampshire manufacturing facility. If there is no manufacturing agreement between you and MIAT then the project ends here, and we will provide you with, under terms of agreement, the technical file or relevant documentation to go forward with.
In the case of a project that has been internally generated here at MIAT then we may move to manufacture onsite, subcontracted manufacture or sell the product to a 3rd party.
Stage Gate 8: Review & On-Going Success
After the product has been launched/manufactured, a product review date is set, based on the success of the product.