Defining the Opportunity

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Defining the Opportunity

What's this for?

Defining the nature of your business opportunity helps you to understand your starting point, and this will help you figure out what kinds of tools and analyses you are likely to need as you use this toolbox to develop your business case.

In particular, this exercise looks at whether your starting point is an unsolved problem ('demand pull') or else a novel technology or scientific discovery ('knowledge push' or 'technology push'). This starting point will affect which tools you use later in the process. The nature of your opportunity will impact how you evaluate the competitive advantage of your idea and the type of market you will target.

Goal

To define your starting opportunity so you can determine how to develop your business case.

Suggested steps

1. Click the link to access the Learning Manual: Opportunity Definition

2. Determine which sort of opportunity is your starting point - a 'demand pull' or a 'knowledge push' scenario.

3. Based on this, choose whether to do the 'Idea Generation and Evaluation' exercise or the 'Technology Application Matrix' in the Toolbox.

4. Later in the process, you will also look at what kind of Market entry strategy and business model you will develop based on your type of opportunity.

If you need to print out a copy of the learning manual(s) for offline use, please follow these steps:
    - Click the "Create PDF" button at the top right hand corner of the page.
    - Scroll to the "Attachment" section (at the end of the last page).
    - Click on the paperclip icon next to the manual.