Product idea creation by recombination of firm knowledge - a case study in a Medtech company

Innovation is a key element of a company's success. This speech presents a procedural framework for new product idea generation, tailored to medium-sized technology companies. The framework leverages cross-divisional firm knowledge and was validated in a case study at Brütsch Elektronik.

An organization’s ability to continuously foster innovation is a key determinant of its long-term success. This is particularly applicable for technology-driven companies. An important element of innovation practice is the generation of new product ideas with commercial potential. For small and medium sized companies, this task can be challenging.

This study presents a procedural framework for the generation of product ideas in small and medium sized technology companies that address a pre-defined target market. The application of the framework requires relatively low financial and human resources. The product ideas that result from applying this framework address market needs, are in line with the company’s capabilities and leverage synergy potential between business units within the company. The framework can be applied to any target market of potential interest to the company. The framework was validated in the context of the company Brütsch Elektronik AG for the target market of surgical robotics.

With the presentation of the framework and its validation in a Swiss medium-sized medtech company, this study contributes to structuring the early stage of the product innovation process in small and medium sized technology companies and to making it more effective.

Speaker: Nadia Neumayer, Sales and Business Development Manager