Critical Factors Assessment | Canadian Innovation Centre

By: Innovation Centre  09-12-2011

High level check of technology,
business, history and competitive issues
Essential for initial product investment decisions

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.

Three options to choose from:

- a small fee-based online tool where CIC experts assesses your venture against the 8 ovrerall 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 questions.

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

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.

For more on the Critical Factors Assessment family of tools, see this free whitepaper:

Independent 3rd Party check
providing specific feedback and direction
Important for good decision making early in the venture

Developed with the support of the

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