INDUCT is your full service partner in technological innovation. INDUCT is also a strong advocate of the open innovation paradigm. In most cases this results in a reduced cost for the customer in exchange for an extra fee when the project is successful (this may be a one time success fee or a royalty per product) or in exchange for rights to the developed technology in other sectors. Next to the financial aspects (risk-sharing), one of the main advantages of open innovation is the cross-fertilization between different companies. Even when you work with INDUCT in consultancy mode, you will be able to benefit of the experience we have gathered in open innovation projects with others.

A typical innovation trajectory consists of following three phases:

• a product scan to detect and define the innovation opportunities
• a feasibility study in which all assumptions are validated
• the actual project

This stepwise approach allows to gradually investigate your innovation possibilities without large investments. The feasibility study is crucial to avoid a long and expensive project only to learn that the solution cannot be implemented. The deliverables of a typical feasibility study are:

• validation of the essential technical assumptions – limited proof of concept
• first estimate of the design and implementation effort
• first estimate of the production cost (necessary processor hardware, sensors and actuators)

The feasibility study enables the customer to make an informed decision whether or not to go on with the project. The product scan and the feasibility study can often be paid through KMO portefeuille which allows Flemish SMEs to receive a direct subsidy of 50%.