Creating successful R&D proposals to benefit small and medium enterprises
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PMI-Montreal conference By Peter Rosenthal November 2, 2016
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Creating successful R&D proposals to benefit small and medium enterprises
- 1. 1 Creating Successful R&D Proposals to Benefit Small and Medium Sized Enterprises. Peter Rosenthal, ing., M.B.A November 2, 2016
- 2. Objectives Define importance of SME Innovation Present structure and contents of R&D proposals Describe best practices related to project definition 2
- 3. Agenda Introduction Innovation in Canada What is R&D? Eligibility for Funding The R&D Proposal Test Cases R&D Support Programs in Canada Conclusion Q&A 3
- 4. Introduction 4 Peter Rosenthal • Mechanical design engineer • Industrial Technology Advisor for NRC-IRAP • Program Manager in Avionics Industry • Clients: Airbus, Boeing, Eurocopter, Thales, DND, USAF, Bell Helicopter, Lufthansa, Qatar Airlines • Sub-contractor Management • Operations Management and PM instructor • Six Sigma Black Belt • Education: B. Eng., MBA (McGill, JMSB)
- 5. Introduction
- 6. 6 Some of my R&D Projects Introduction
- 7. Introduction What is innovation? “Application of better solutions through more effective products, processes, services, technologies or ideas”
- 8. Introduction Why innovate? • For business growth • Product improvement • New products and processes • To remain competitive • Competitors are innovating • New business strategies • To empower employees • Innovation requires creativity from personnel
- 9. Innovation in Canada Top Canadian Industries Energy Manufacturing Aerospace IT Agriculture Services
- 10. Importance of SMEs • 1.2M Businesses in Canada • 1.15M are Small and Medium Sized Enterprises (SMEs) • SMEs are defined as 500 or less employees Large Firm (0.5%) SME (99.5%) Innovation in Canada
- 11. • Small & Medium sized Enterprises (SMEs) – Comprise the vast majority (99.5%) of employers – Yet, accounted for only 50% of R&D expenditures • Lack of R&D expenditure directly impacts firms’ ability to innovate • SME R&D declining (2011-2013) Percentage SME in Quebec (Ref. Industry Canada) Small -98% Med-1.5% Large-0.5% What are the challenges impacting innovation? Innovation in Canada
- 12. Key challenges faced by SMEs that limit Innovation: 1. Lack of financial resources 2. Resources have no or negative capacity to work on R&D projects 3. Projects in high technology are complex and risky 4. Lack of skilled technical workers and resources Innovation in Canada
- 13. What is R&D? 13 “…activities a business conducts to improve existing products …or lead to the development of new products” (Ref investopedia.com)
- 14. Technology Readiness Levels 14 TRL 1: Basic principals of concept observed TRL 2: Practical applications defined TRL 5: Basic technological components tested in a simulated environment TRL 4: Validation in a lab environment TRL 3: Analytical and experimental lab studies TRL 6: Prototype demo in simulated environment TRL 7: Prototype demo in actual environment TRL 8: Actual technology completed and qualified through demonstration TRL 9: Actual technology successfully deployed in an operational setting Concept Demo Prototype Preliminary R&D Commercialize
- 15. Eligibility for Funding 15 For Profit? Incorporated in Canada? Firm Size? Capacity for R&D?
- 16. The R&D Proposal 16 Important Notes: 1. Contact your Advisor, Local Rep to discuss your project and funding programs before writing the proposal 2. There are many Federal, Provincial and Municipal financial support programs. Please check with your rep for specific guidelines
- 17. Proposal Contents 17 1. Your Firm 2. Your Business and Opportunity 3. Your Project 4. Budget 5. Financing 6. Impact 7. Declaration
- 18. Your Firm 18 Legal Status, CRA, Address, Inc, For Profit Ownership and Management Structure Head Office History of Management Team Contact Info
- 19. Your Business 19 • Overview – Describe your: • Main products and services • Main customers • Main competitors • Business plan
- 20. Sales Profit Margin COGS Payback The Opportunity 20 Target Market Fit with Trends Market Growth rate Barriers to entry Timing Clients: Profile Benefits Social issues Research done to date IP Risks Competitors SWOT New Tech Advantages
- 21. Your Project 21 Summary • Title • Description • Duration Objectives • Quantifiable • Measurable • Aligned with project activities Technology Environment • Project innovations • Solves what problem? • Why select this tech? Challenges & Uncertainties • Technological uncertainties? • Risks • Mitigation plans Activities • Gantt • Milestones • Critical path • Methodology Ethical and Environmental Considerations: • Human or animal experimentation requires approvals • Specify environmental protection method if required
- 22. Proposal: Budget 22 • Senior management typically not included (in overhead) • Include contractors here • External sub contractors • Materials • T&L, Machines • Total project cost including overhead Direct Salaries Sub-contractor Costs Other Costs Summary
- 23. Proposal: Financing 23 Capacity to finance your part of the project
- 24. Proposal: Impact of Contribution 24 The Firm GlobalCanada • Hire qualified resources • Accelerate development • New know-how • IP • Broaden the scope of the project • Increased Employment • Increased R & D Expenditures • Development of New Products • Social Benefits • Increased Safety and security • Reduced carbon emissions • Environmental
- 25. Proposal Contents 25 1. Your Firm 2. Your Business and Opportunity 3. Your Project 4. Budget 5. Financing 6. Impacts 7. Declaration
- 26. Test Cases 26
- 27. New Energy Source 27 The Firm: Well established machine shop, $20M annual sales, profitable Finances: $500,000 cash available Technology: Perpetual motion water pump Business Case: Endless Source of Energy GO/NO-GO?
- 28. Solar Rechargeable Batteries 28 The Firm: 2 year old SME, 3 employees $100K annual sales in technical consulting (electronics), almost profitable Finances: $10,000 cash available Technology: Consumer batteries (AA, AAA, 9V that can be recharged by sitting discharged batteries in sunlight) Development cost: $100,000, 12 months Business Case:3 billion batteries thrown away every year GO/NO-GO?
- 29. Low Cost Composite Vehicle Chassis 29 The Firm: World class manufacturer of composite structures for aircraft, SME, 25 years incorporated Finances: $10M annual revenue, profitable Technology: Lower cost composite materials based on aircraft recipe to develop lighter and stronger vehicle chassis Business Case: Applies to gas, hybrid and electric vehicle designs, lower cost than metal, lighter saves fuel, stronger and safer GO/NO-GO?
- 30. 30 R&D Support Programs (samples) COMMERCIALIZATION INCREASING INDUSTRY INVOLVEMENT/FUNDING PRODUCTS
- 31. 31 Summary • SME Innovation key to Canada’s Economy • R&D Proposals need well defined project, business case and align with the firm competencies • Advisors can help you find the right program and prepare proposals • Many support programs available for R&D at every TRL
- 32. 32 For Further Information • Peter.rosenthal@nrc.ca • (514) 396-8800 ext :7806 • IRAP: 1-877-994-4727 • NRC Concierge: 1-855-53-GUIDE Merci! Questions?
- 33. 33