Innovation and Commercialization Driver: Report on Starship Company

This report comprehensively examines the concepts of innovation and commercialization, emphasizing their critical role in business success, with a case study of Starship. It begins by defining innovation and contrasting it with invention, highlighting the importance of leadership, culture, teamwork, and vision in shaping innovation within an organization. The report then delves into the 4Ps of innovation (product, process, position, and paradigm) and the use of the innovation funnel, followed by an exploration of frugal innovation and its application. Furthermore, it addresses the commercialization process, including new product development, building innovative business cases, and securing funding. The report concludes by evaluating methods for developing, retaining, and protecting knowledge and intellectual property, offering valuable insights for students and professionals alike.

Innovation and commercialization driver

Table of Contents
Introduction.........................................................................................................................................3
P1- Explanation of innovation and important to organisation in comparison with invention.............3
P2- Leadership, culture, teamwork and vision of the company can shape the innovation and
commercialization.............................................................................................................................5
P3- Explanation of4s of innovation and use of innovation funnel.....................................................6
P4- Development in frugal innovation and how it can be used within company...............................8
P5- Importance of commercial funnel and the application of new product development processing
for the innovation..............................................................................................................................9
P6- Building innovative case including ways of funding.................................................................12
P7- Tools and methods that organisations can use to develop retain and protect knowledge and
intellectual property.........................................................................................................................13
Conclusion..........................................................................................................................................14
REFERENCES..................................................................................................................................14

Introduction
Commercialization reason process of transferring any kind of information,
Knowledge, idea and invention into greater wealth for the business, individual are society at
large while Is also a part of commercialization where people come up with the new ideas
knowledge that make easy company for business too achieve that target and goals.
This report will cover case study ofStarship which is US based company working in a
UK and European countries. This company is building a network of robots that are delivering
the food to the customers themselves. Artificial intelligence technology used by this company
is innovative and effective.
The business run by the Starship is going very well and the robot grocery delivery services
also expanded by this company in Northampton. It was very helpful during the Corona
lockdownWhere this company sent their robots today deliver food and essentialthanks to the
needy people.
Target market- This company is targeting people within the United Kingdom and their main
aim is to provide food delivery services through the AI technology.
Sales and financial forecast- Starship company is Financially strong because they are having
investor who can invest huge amount within their business. they are using technology robots
to provide their food services to the customers that is helping them to increase their sales.
This report will explain in the context of innovation and determine the difference
between innovation an invention within a business. It will also explain the difference type of
innovation including the development of frugal innovation. This report will discuss the
process required in commercialised innovation and in the end of this report will evaluate the
range of methods and protecting ideas of companies innovation and rights.
P1- Explanation of innovation and important to organisation in comparison with invention
Innovation is the concept that referred to the process of organisation undertakes the
conceptualise brand new products ideas process an approaches to the existing product in new
ways (Csedő, Z. and Zavarkó, M., 2020). Innovation Helps company to develop there
products Anne come up with the new idea that can make their work for the employees easy
and it can save time an increase the probability.
It is necessary for the Starship company to encourage their employees our production
team 2 come up with the innovative ideas that can help company too take competitive

advantages within a market where they are operating their businessThe Importance of
Innovation – What Does it Mean for Businesses and our Society?. (2019).. Innovation is important
for Starshipbecause It helped them to grow their business and make them successful.
Help to grow
Innovation is the only way that help to grow companies within a market because
innovation helps to satisfy the needs and demand of the customers by developing the
products. company can also provide better services with the help of innovation And grow
rapidly.
Creative development
Qualities of the innovation nature are essential for the Starship and they can lead the
market by learning The creativity and make that implies more creative. it is necessary for the
leaders and managers of Starship to provide skilful Training and creative development so
they can come up with the new ideas to do work an easy way and achieve that targets and
goals.
Continuous improvement
Innovation gives sustainability to the Starship company during their continuous
improvement, re packaging Anne re branding. this process reveals information to the help
leaders to learn other ways to be more innovative and it is important cause it is recognised as
one of the main drivers of for the success of organisation an if Starship want to be successful
within their business than they have to be more innovative and their leaders should adopt
innovative leadership (Meijer, LLJ. and et.al., 2019). It will give assist ability to the Starship
business such as maintenance of their brands within a market.
Difference between innovation and invention
Invention is the creation of new product or any kind of new technology our process
for the first time then it can be come under the category of invention. The person who invent
the new technology or thing are called inventor. Innovation and Invention are the each others
part but Invention take place then on the innovation can be possible. Innovation just make the
invention easy and change some things for example- if the Starship company introduce the
new product that is for the first time then it will called invention and adding some new things
or make some minor changes to make it more effective called innovation.

P2- Leadership, culture, teamwork and vision of the company can shape the innovation and
commercialization.
Leadership, culture teamwork and vision have huge role for the Starship company to
shape innovation within their workplace. it is necessary for the superiors of the company to
give importance to create diverse cultures l, effective leadership, teamwork and vision So
their workplace can be innovative and they can show their presence within a market where
they are operating their business.
Vision
Vision play the important role to to provide a way to achieve innovative ideas. It is
necessary for Starship leaders to create a vision for the employees so they can understand
what they need to do and how they are going to achieve. An innovation vision can help to
take Starship from its present state to the better future (Tariq, A. And et.al., 2017). If
employees will be clear that what they need to do through division then they will able to
create ideas to achieve the objectives and work according to the vision of the company.
Leadership
Leadership plays an important role and innovation Because effective leaders always
have innovative ideas and way to perform work. They cancan encourage employees To be
innovative and the work and help company to achieve the success and their business. leaders
always find I innovative way and make the work more easy for the company and they also
provide ideas that can be develop the product and innovate the process.
Culture
Superiors of the task companies should focused on the culture and make the
companies workplace and one more innovative. it can be possible if they implement diversity
at their workplace. people came from different backgrounds, religion and culture create a
diverse workplace. in a diverse workplace employees come up with the different different
ideas And help Starship company to take competitive advantages within a market where they
are operating their business. Culture make the mind of employees innovative and they find
new way to think and suggesting new ideas.
Teamwork

Teamwork always consist of different different skills of employees and ability in
themselves. Teamwork always help to create innovative ideas to do task, each member of the
team get a chance to give their suggestion and whole teamwork accordingly. Teamwork
always influence employees to be creative, productive an innovative which has an overall
impact on the companies performance on the market (Sunny, S. A A. and Shu, C., 2019).
According to the result shows that 97 percent of the respondents agree that teamwork allows
employees to broaden their knowledge and skills and also help teamwork to improve their
performance within a task. it is necessary for the leaders of Starship to provide teamwork task
to their employees so they can be more innovative and productive for the company.
P3- Explanation of4s of innovation and use of innovation funnel
There are four type of innovation within a business which is similar to the four piece
of marketing. Four p's of Innovation include Position, process, product and paradigm. It can
be helpful for the Starship company to develop their product and bring innovation to satisfy
the needs of customers and their demand.
Product innovation
Product innovation it’s done through the market research in which marketers try to
identify the needs and demand of the customers and take feedback about the changes they
need in their existing products. the information collected by the marketers are used by the
production team of Starship and they you know weight the product accordingly. this is how

the new innovation take place within a company and provide competitive advantages to the
Starship.
Process innovation
The process innovation refers to the change in the way things are created an delivered
to the customers. Starship company try to make their product more creative and make them
easy to use for the customers that also helped to satisfy he needs a demand how their
customers. Starship company can eliminate the things which are unnecessary within a
product which can also make the product innovator and better as compared to the previous
one.
Position innovation
It is another part of the innovation where the company represent their products and
introduce it in the way that attract customers to buy it. that helps to provide a good position to
the company within a market and they are able to take competitive advantages (Mattila, M.,
Yrjölä, M. and Lehtimäki, H., 2019). It is necessary for Starship advertisement team come up
with the ideas that can I specify the product in more innovative way and helps to attract
customers to buy it for any cost. For example- There are many advertisement on the TV that
lies with the customers but they are attractive and people like to buy them.
Paradigm innovation
Paradigm innovation, In particular is the change in the underlying mental model
which frame what the organisation does or ultimately which frame what it does. The driving
line between this is often blurred and innovation is one dimension often bring changes to the
others
Use of innovation funnel
Any innovation panel is used to describe the proper steps that can take place in
developing a new product or a process for the Starshipcompany. The purpose of all
innovation is to develop a product or any kind of process that meet the needs and demand of
the market in manufactural or economics forms. Hindi first or initial stage of the development
some ideas are collected which go through the refinery system after the refinery system
company select a single innovation that can help them to achieve success in their business.

There are four steps off innovation that are used by companies such as ideations, project
selection, product development etc.
P4- Development in frugal innovation and how it can be used within company.
Frugal innovation is about delivering more value at the lower cost to the customers by
the company (Hameed, T., Von Staden, P. and Kwon, K. S., 2018). It is frugal because they
do not need to adopt A mind-set of simplicity an extremely low cost without sacrificing the
quality of user experience First off it is one of the growing trend that can also be used
byStarship company to take higher growth within a market and they can achieve success in
their business. Forget engineering is helpful to reducing the complexity and cost of the goods
and services produced by Starship company an usually this refers to the moving no social
features from a durable goods.
Use of frugal in Starship
StarshipCompany can also use frugal innovation To take competitive advantages an
gain opportunities within a market where they are operating their business. Today’s emerging
markets account for 36% of the global GDP. Some Of the estimates indicate they will present
a you asked dollar around 30 trillion opportunity by 2025Frugal Innovation for Sustainable
Growth and Development. (2017). Starship company can take competitive advantages within
the market why developing their product and eliminating the unnecessary things from the
product it will help them too satisfy the needs and demand of the customers and they will be
able to attract them to buy their products. There are many grocery sales by Starship company
that can be make more effective by eliminating the things that are not useful and customers
doesn't use or add value for in their life. Company can remove those Unnecessary thanks
from the product an ads some new features that are more useful an add some value in
customers mind and life. They can use it and satisfy their needs and company will able to
gain loyalty of the customers. It will not only satisfy the needs of customer. Additionally it
will reduce the cost Of the product having company will able to add some value in customers
life. It will not affect the quality of the product so customers will get high quality product and
lower prices as compared to the market. At well attract the customers to buy the product and
services from the Starship company (Kapitonov, I. A. and et.al., 2017).they do not need to
adopt A mind-set of simplicity an extremely low cost without sacrificing the quality of user
experience First off it is one of the growing trend that can also be used by Starship company
to take higher growth within a market and they can achieve success in their business. Forget

engineering is helpful to reducing the complexity and cost of the goods and services produced
by Starship company an usually this refers to the moving no social features from a durable
goods.
P5- Importance of commercial funnel and the application of new product development
processing for the innovation.
The commercial funnel is the marketing tool that are used by marketing team of the
company and by using this tool organisation try to find the quality and trade its merchandise
to customers (Sexton, K. B. and Ligler, FS., 2018). It’s breakdown the journey of the

customers from overnice to purchase stages. It is also an chronological process of attracting
customers to buy the product from Starship company and convince them.
Awareness section
Commercial funnel Will help Starship to our customers about the brand and attract the
customers who are really interested to buy product.
Interest section
What is your customers know about the business of the Starship and they are
interested to know more about them. However they are convinced to the point that they
would actually avail of offer.
Decision
This is the part where customers take decision, if they want to buy the product from
Starship or someone else First off this is a critical section because this part where Starship
needs to will a reason for the people to convince them to buy their product.
Interest section
This is the final portion of the sales funnel where the customers had already decided
that they are ready to buy product from the Starship and satisfy their need.
Product development process and innovation and commercialization
Product innovation and development is necessary for the Starship company trying to
stay prior To changes in the marketplace and ensure business success in the future.
Development and product can help Starship company to achieve success in their business but
they always need to aware of needs And demand of the customers so they can innovate and
develop accordingly (Cheong, S. T. and et.al., 2020). There are some stages of the new
product development process that can be used by Starship company to develop new product
and take competitive advantages in market.
Idea generation
It is necessary for the Starship company to generate an idea of the new product and
they have to identify what kind of product they can develop. a proper idea generation can
help company to satisfy the needs and demand of customer’s. SWOT analysis and the

modern marketing trends can help for the idea generation and they can also identify the risk
within a market that can affect and create a barrier to innovate or develop product.
idea screening
Another step of the product development is idea screening that involves screening of
all newly generated ideas shift to the nice one and best one. They have to understand if the
new idea of product will be accepted by their customers or not the screening will provide the
best possible idea among all.
Product concept
Product concept a product concept is an blueprint of the new product develop by
Starship. It helps too develop it into the meaningful relatable consumer term so that it's
ultimately present table. For the each possible new product development plan multiple
alternative idea can be created by the leaders of the company and main ideas will be selected
which can attract the customers.
concept test
Once the idea have been developed each of the ideas will be tested on the consumers
and best one will be selected then it goes to the another step of the product development
process.
Business strategy
Here the idea will be tested, once a promising concept has been selected. this is the
time to put together all the initial business and marketing strategies and this required depth
analysis of techniques for the product management.
test marketing
Unlike concept of the testing, another prototype is to introduce for the research and
feedback in the test marketing stage (Rose, J. and Furneaux, B., 2016). Buyers feedback are
taken from the further changes, if needed are made to be product
Commercialization
Here this is the last stage Starship can launch their new product within a market and
run all the marketing campaign to attract customers another them about their new product.

P6- Building innovative case including ways of funding
Starship isn’t technology based company that is looking to expand their business more
with the innovative ideas and proper expansion plan. Right now this company is focusing on
providing new technology and developing in new products for the hospitality industry as
well. They believe CoronavirusHas a fact is industry mostly and Starship can help this
industry I providing a technology that can make easy for the hotels to provide their services
an make a good experience For their customers.
source of funding
there are different different sources of funding that can be used by Starship company
to develop new robotic technology and take competitive advantages in a market(Hameed, T.,
Von Staden, P. and Kwon, K. S., 2018). They will also able to develop ti knew robots
through the funding sources and provide hospitality industry a growth opportunities.
Investors
It is already a innovative company an they are already invested huge amount in their
business so they can easily get investor who can invest in this project and make their project
successful. their robotic technology is advanced an impressive so investor can easily invest
for this project.
Shareholders
Starship can list their company on the share market and offer some of their shares to
the public. this is one of the best way to get huge amount for the company and they can start
this project effectively.Starship can collect huge amount from this source and they can invest
in their project to get success and build a technology that can be used by the hospitality
industry.
Bank loans
This is one of the common and mostly used source of funding that can also be used by
Starship. They can take loan from the banks for the investment and they will easily get the
loan any of the bank because they are already having a good image in market Anne they are
operating their business on international level. it will be easy for starship to get lone for their
business And they can make their project successful and provide help to the hospitality
industry in their critical situation