Undertake a proof of concept process
By undertaking a proof of concept (POC) process you are gathering sufficient evidence of the technical viability of your product or service. Some commercial feasibility assumptions or conclusions may need to be adjusted as new knowledge of the product emerges.
The POC stage generates knowledge about the product’s design, performance, production requirements, and preliminary production costs. The end result is a working model known as a prototype.
Ideas are turned into operational form (not necessarily the final form). The core functionality of the idea is tested, basic prototypes may be developed and IP registration can be established. It is essential that the results of a POC are reproducible, and, if relevant, the quality expectations of the relevant regulatory community are satisfied. The table below provides further clarification and detail of the typical activities that could be involved in a POC. Some activities will involve:
- initial production of a new product prototype and testing that it can actually be used as planned
- running a new process for the first time and testing that it performs the desired transformation of inputs to outputs
- delivering a service for the first time, testing that the expected benefits to recipients are realised and that the delivery method is effective.
Typical activities involved before, during and after POC activities for certain product classes:
Engineering and manufacturing
Information technology and telecommunications
Research and development
Proof of concept
Early stage commercialisation
Some essential, yet generic, activities in the POC:
- examine the operational requirements of the product or process
- identify potential safety and environmental hazards
- conduct a preliminary production assessment
- conduct a preliminary manufacturing assessment
- estimate engineering prototype costs.
- Learn about evaluating your business idea.