Innovative Project Development
What is an innovative project?
Innovative projects are transformative initiatives capable of reshaping an organization or ecosystem. They include developing a new springboard for growth, a research centre, an acceleration space or any other type of project that creates value in a community.
Internal innovative projects have the potential to move organizations forward and open new doors. Transformative initiatives in an economic ecosystem have a long-term impact on their community or sector of intervention.
Our services include project development, analysis of the business and competitive environment, research into existing concepts, connecting you with experts in the field or key players in the ecosystem and drafting a funding application or proposal for a call for projects.
How long does it take to develop an innovative project?
Our services can be a few hours’ strategic advisory per month or can be more intensive, depending on the objectives set by the client.
Ideally, you should plan to complete the project in four to ten weeks, depending on the required deadlines. However, when applying for funding or submitting a proposal, you need to consider the deadline and adjust your planning accordingly.
Projects often need to be developed in stages:
- Feasibility or pre-feasibility study, which determines whether the project is a go or no-go. This study includes:
- Commercial feasibility (analysis of competitive environment, positioning and value proposition)
- Operational feasibility (real estate, specialized equipment and human resources)
- Financial feasibility (developing financial scenarios, financial package, pricing grid, developing a partnership strategy and search for funding)
- Business plan
- Project implementation (partnership strategy, governance, funding structure).
WHAT ARE INNOVATIVE PROJECT DEVELOPMENT COMPONENTS AND DELIVERABLES?
Deliverables include at least one of the following, depending on the needs associated with the project:
- A research report based on the studies and analyses collected, including an annotated bibliography
- A feasibility study
- A business plan
- Draft project application forms
- Relevant studies and analyses
The process typically includes review meetings and workshops. These meetings provide an opportunity to present project progress, gather feedback and refocus the project on its objectives. A participatory process is a good way to ensure success, where the client is consulted throughout the process, so that the project evolves and remains representative of the client’s vision.
Who is Innovative Project Development for?
Innovative Project Development is for any organization with an idea or concept that needs assistance in developing it. This approach applies equally to companies, non-profits, economic development organizations, educational and research institutions as well as municipalities and regional county municipalities (RCM).
The Espace Stratégies approach
Espace Stratégies is an independent company that provides an outside view and a fresh perspective on the challenges facing your organization. As an external player, we can bring in new ideas and challenge certain problematic status quos. We work with public and municipal organizations as well as businesses, non-profits, investors and government. We use our knowledge of the different players and their needs to create the most appropriate networks.
Other services
For whom?
PORTFOLIO
Center d'Expertise Industrielle de Montréal (CEI-Montréal)
The Centre d’Expertise Industrielle de Montréal (CEI-Montréal) is a cutting-edge facility designed to train, support and guide manufacturing companies as they transition to Industry 4.0. Espace Stratégies helped Développement Économique Saint-Laurent to draft the CEI’s business plan and submit it to public funding agencies in order to complete its financing.
InnoHub la Centrale
The Les Moulins RCM, which includes the municipalities of Terrebonne and Mascouche, asked Espace Stratégies to organize a series of consultations with their stakeholders and to draft the business plan that was used to create and finance their InnoHub La Centrale business incubator.
Laval Innov
Espace Stratégies worked with all local stakeholders to support the creation of a new organization responsible for coordinating regional innovation. This project was in response to a Government of Quebec call for proposals to create regional innovation hubs across Quebec. Today, these hubs have become regional acceleration spaces. Espace Stratégies carried out the entire consultation process and wrote the proposal that was submitted to and accepted by the government. It was one of the first projects announced and was awarded $1.6 million in funding in June 2018. Espace Stratégies then helped to create and implement the PRIL (Pôle régional d’innovation de Laval).
