NewsNew Company scouts for new business opportunities

Two Tyneside-based innovation experts have set up a unique business to help source real needs that can be matched with cutting edge scientific solutions to solve people’s everyday problems. Already the company has 100’s of “unmet needs” that could lead to significant innovative business opportunities.

Nick Devitt and David Townson have established Innovation Scout (think American Indian) to find and validate ‘unmet needs’ in new and existing markets. They have identified their potential clients to be a wide range of organisations looking for the innovation opportunity derived from real consumer needs. Nick Devitt said: “People frequently use ideas as the beginning of developing a business opportunity but we have a method of sources, organising and authenticating real needs that can lead to significant commercial opportunity.

Innovation Scout Limited is working with Newcastle Science City which is creating new businesses based on a needs lead innovation approach. Peter Arnold, chief executive, Newcastle Science City said: “Innovation Scout are a perfect match for our own aspirations to create wealth for Newcastle from matching solutions to problems. They are exploring the potential of a business model for us and through a pilot scheme will suggest the best way forward for our own vision.” As part of their project development for Science City Nick Devitt and David Townson are developing their Indian scouting theme and arranging a ‘pow wow’ around a particular opportunity to find a solution for a number of ‘unmet needs”.

Through a workshop with individuals involved with the treatment of Atopic Dermatitis, from a sufferer through to a GP, they will develop a new solution and assess the business viability of it. Nick Devitt and David Townson will offer their other potential clients a range of services from on-line access where clients can explore 1000s of unmet needs on a regular basis and get extra information and analysis on request or alternatively have a premium service with a fully worked out business proposition. For the future they intend to employ innovation scouts and search globally for unmet needs that will lead to innovation and business opportunities.

People can also register their own problems which need solving on their website www.innovationscout.co.uk. As for their own unmet needs, Nick never seems to have enough space on his desk! And David is looking for a ways to convince his 3 year old son the dentist isn’t so bad.