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New Product Development Programme evaluation: final report
Scottish Enterprise Renfrewshire (SER) New Product Development (NPD) programme assists individuals or SMEs who have an innovative idea to bring to market. Financial help or expert advice is given to them at an early stage. The evaluation aimed to undertake an assessment of the net economic impacts of the NPD programme to date on the companies assisted and the anticipated impacts of this assistance. The principal objectives of the evaluation were to further develop or modify NPD, to influence the level of resources required by NPD and to help establish appropriate targets for the project.
The methodology consisted of eight telephone interview questionnaires, sourced from eighteen NPD participant companies. Research was based on both qualitative and quantitative measures to ensure a broad understanding of how the project met its objectives.
Finds that NPD is forecast to meet its overall target of 12 new products or processes launched. Concludes that the programme has generated a range of qualitative impacts and is good value for money. Provides a series of conclusions about the indirect qualitative impacts, additionality and net impacts of the NPD project. Assesses the ‘value for money’ and cost effectiveness of NPD. Looks at the barriers micro-businesses face to develop products.
Provides a series of recommendations on the future direction of NPD and how the project can be improved. Suggests that: the need for larger firms to receive the NPD financial assistance element should be reviewed; Scottish Enterprise Renfrewshire (SER) should confirm that NPD is promoted effectively to business support organisations; and SER should provide aftercare support to companies post NPD if applicable. Recommends that specific support should be in place to help companies take advantage of distribution networks once identified.
Full Report (251 KB, doc)
|Theme/Sector||Commercialisation, Equity investment, Innovation, Investment|