Invention for Innovation - Connect Business Plan Guidance for Applicants
Business Plan and Video Presentation
Applicants are required to submit a maximum of 15 page business plan (the minimum font size should not be less than 10px), an i4i Connect finance form and a 3 minute video presentation at Stage 2 of the i4i Connect application process.
This should include a description of the proposed technology, its intended use, the unmet patient need, value proposition and details of the associated Intellectual Property (IP) ownership and management arrangements.
Business Opportunity and Objectives
A description of your business, outlining the different products and/or services you offer (value proposition) and business aims.
Market and Competition
Details of the intended market and competitor analysis.
Sales and Marketing Plan
Details of your sales strategy/channels, pricing strategy, route to market, commercialisation strategy, business model, risk analysis, market validation and marketing plans.
Details of any suppliers or business relationships that are critical to delivering your products/services or otherwise running your business (e.g. strategic partnerships, manufacturing etc.) and any project risks.
Details of the team, including founders, key executives, shareholders etc. A maximum of 7 co-applicants is permitted.
Full details of the spending plan for the i4i Connect project (to be included within the i4i Connect finance template) and details of the company's cash flow forecast and funding strategy to be included in the business plan.
The 3 minute video presentation should complement the business plan. We do not expect professionally produced videos (you can use your smart phone), however, please ensure the visual and audio is of good quality.
Creating and Submitting an Application
The lead applicant must create the application. Co-applicants can be added to the application at any time and will receive an automatic email from the RMS which will prompt them to accept their inclusion and later to consent to the application being submitted with their participation. All co-applicants must accept their invitation to participate in the application by the submission deadline for the application to be eligible for submission.
The 3 minute video presentations are to be uploaded to YouTube and a link to your video provided in the section ‘Business Plan and Video Pitch Upload’ provided in your online application form. Please refer to Appendix 1 for further details about uploading your video to YouTube.
Patient and Public Involvement (PPI)
The NIHR expects active involvement of patients and the public in the projects it supports. It is anticipated that i4i Connect projects have reference to PPI. Plans for PPI must be clearly and fully described throughout your business plan. Applicants should identify the relevant patient/user group(s) for their application and engage with those groups at an early stage. To make the contents of your application and the implications of your project clear to members of the public, including funding panel and reviewers, a plain English summary is required. There are a number of organisations who may be able to provide useful resources, advice and support on patient and public involvement in research:
- Research Costs
- NHS Support Costs
- NHS Treatment Costs
Contact Details and Further Information
We wish to ensure that potential applicants fully understand what is needed in their applications before they submit them. We encourage discussion of proposals prior to the deadline, although we cannot advise on the specific content of an application. Enquiries may be made by email to email@example.com. Alternatively, the i4i Secretariat can be contacted on +44 (0)20 8843 8080.
Appendix 1 - Privately uploading a video to YouTube
3. Select your video file to upload your video
Appendix 2 - Switching roles between Lead Applicant and Director of Finance
2.Click ‘Add contact’ under Director of Finance
3.Enter the Lead Applicant's details IF they are also the Director of Finance and click ‘Search’. Select the contact and then click ‘Save and Close’.
4. On the right-hand-side you will now be able to switch roles between Lead Applicant and Director of Finance by selecting the roles from the dropdown
5. If you have changed role to Director of Finance you will now be able to tick the box in ‘Other supporting roles tab – signatories (electronic)’.