High level check of technology, business, history and competitive issues. Essential for initial product investment decisions.
It takes more than a great product or business idea to achieve venture success
The Critical Factors Assessment (CFA) is the flagship product of the Centre, having been used to evaluate over 20,000 innovations with high validity. This proven predictive power is made possible by the proprietary, peer-reviewed tool covering 42 factors, key to any commercialization endeavour and which is supported by an extensive library of cases and secondary research.
While technological issues drive the desirability of the product, other issues of the business – historical and competitive in nature, influence adoption and profitability. By examining these multiple issues upfront, the prudent innovator – you, can decide what the best way to monetize the venture is and whether the requisite factors are favourable to proceed.
CFA Snapshot
A free online tool for entrepreneurs that lets you self-assess your venture against the 8 overall factors for venture success. This is ideal for those who just want a quick feedback on their venture to see how it compares. The feedback can be the basis for re-thinking your original idea or progressing it to the next stage.
CFA Snapshot Plus
A small fee-based online tool where CIC experts assesses your venture against the 8 overall factors for venture success. This assessment takes one to two weeks to complete and differs from the Snapshot in that you receive 3rd party feedback; the Snapshot is a self-assessment whose outcome is wholly dependent on how well you answer the question.
CFA Full Assessment
A fee based comprehensive assessment report of more than 40 critical factors which determine the weaknesses and strengths of the technology, business issues, market options and challenging implementation barriers. Specific feedback from this report helps plan your path forward. The CFA Full Assessment takes between four to six weeks to complete.
Here’s how the CFA works
You complete an online form providing detailed information on your venture (note that your information is protected by a confidentiality agreement).
Depending on which option you choose, our team of experts will review the information, requesting additional information as required, and assesses the venture against the 42 factors that our research indicates have a significant impact on venture success. For each of the factors, an A, B or C rating will be assigned.
You will receive a report which identifies areas for concern, and depending on which option you choose, offers recommendations for next steps.
The Benefits of a Critical Factors Assessment
Provides a knowledgeable, objective assessment
Provides a useful checklist of critical factors
Identifies possible showstoppers
Suggests remedial action
Creates a document for discussion with stakeholders
For more on the Critical Factors Assessment family of tools, see our white-paper: Critical Factors Assessment: Planning for Venture Success.