Step 1 in the I&V Process®
We assume that previous to the introduction of the
Innovation & Venture Process a detailed dealflow evaluation process has been accomplished with a positive result.
The first step of the
Innovation & Venture Process (I&V Process®) is the so-called Business-Planning, which covers the formal description of the Business Case satisfying the Due Diligence requirements.
In the sense of the "Simultaneous Venturing" a first version of the Business Plan with a rough and preliminary description of the business model and the financial plan is written in such a way that it can be used for a first discussion with possible partners. At this stage, the Business Plan may still include undetailed and flexible modules which will be actualized and completed in order to taken into account the requirements of the interested cooperation partner
and/or venture capitalist. The Business Plan will then be adapted in the sense of "Simultaneous Venturing" during step 2 (Prototyping), step 3 (Corporate Partnering) and step 4 (Financing/Venture Capital). By this procedure all new circumstances and results from the simultaneous actions of step 2, 3 and 4 will be included resulting in the final version of the Business Plan.
The process step of the Business-Planning is structured in a clearly defined and standardized procedure, which has been developed from experience and many applications to various industries and business areas. In the context of our Services, the complete documentation and know-how for the introduction and implementation of the I&V Process are put at the customer's disposal.
For further information about the Business-Planning and the I&V Process, we refer to our Internal Seminar and Workshop "More Innovation for Less Money".
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