1 - Project work is beyond basic research and technology concept has been defined

2 - Applied research has begun and practical application(s) have been identified

3 - Lab preliminary testing of technology initiated and technical feasibility established

4 - Initial testing of integrated product/system has been completed in a laboratory environment

5 - Laboratory scale integrated product/system demonstrates performance in the intended applications

1 - Initial product/market fit has been defined

2 - Pilot scale product/system has been tested in the intended application(s)

3 - Demonstration of a full scale product/system prototype completed in the intended applications

4 - Actual solution in its near-final form under a representative set of expected conditions

5 - Solution is in final form operated under the full range of operating conditions and environments

1 - One or more initial product hypotheses have been defined

2 - Mapping solution attributes against customer needs has highlighted a clear value proposition

3 - The solution scaled from laboratory to pilot and identified issues affecting full scale

4 - Comprehensive customer value proposition developed with design specifications and certifications

5 - Completed final design optimization with certifications and final custumer/product requirements

1 - Secondary market research performed with identified potential applications and benchmarks

2 - Completed commercial feasibility and basic understanding of competitive solution demonstrated

3 - Completed commercial feasibility with intermediate understanding of competitive solution

4 - Benchmark of unique features and advantages of the solution compared to competitors

5 - Complete benchmark with market, competitive landscape, target applications and competitors

1 - No team or company in place (single individual, no legal entity)

2 - Solely technical or non-technical founder(s) running the company with no outside assistance

3 - Solely technical or non-technical founder(s) with assistance of advisors and incubators

4 - Balanced team with technical and business development/commercialization with advisors

5 - Balanced team with all capabilities onboard (eg. sales, marketing, customer service, operations)

1 - Initial business model and value proposition have been defined

2 - Fully identified customer/partners needs, and refined business model

3 - Defined solution requirements and developed value chain with key stakeholders

4 - Partnerships formed with key stakeholders across the value chain (e.g. suppliers, partners)

5 - Supply agreements with suppliers and partners are in place and initial purchase orders received

1 - Potential suppliers, partners, and customers identified and mapped in an initial value chain

2 - Value chain relationships established with operations inputs requirement

3 - Manufacturing process qualifications (e.g. QC/QA) have been defined and are in progress

4 - Products/systems have been pilot manufactured and sold to initial customers

5 - Full scale manufacturing and widespread deployment of solution to customers achieved

1 - Unclear Project Scope, Concept Idea not yet designed nor approved

2 - Initial Business Plan designed and Business Model outlined with revenue streams and costs.

3 - Business Model and Business Plan are approved, SWOT Analysis conducted.

4 - Business entity is registered, Business Model and Plan updated w/ customers and market feedback.

5 - Business Model validated w/ actual data. Business Plan w/ timeline and all financial assumptions

1 - Not Initiated

2 - Final versions of Business Model and Plan are validated with market and customers testing.

3 - Initial Draft of Funding Requirement, Uses&Sources, Capital Appropriation Strategy and Structure

4 - Defined Funding Requirement w/ initial working capital secured for verification and validation.

5 - Funding Structure defined, Financial Statements Projection presented w/ all elements verified.

1 - Not Initiated

2 - Road Show target investors list and initial testing, final Pitch validated on relevant audience.

3 - Business Model is validated and Road Show kicked-off with relevant funding sources.

4 - Business are proven viable, the product has been scaled from pilot scale to industrial.

5 - Term sheet or equivalent contract (LOI, MOU, etc.) received, and initial negotiations in place.

6 - Due Dilligence ongoing based on Data room and/or supporting material.

1 - Not Initiated

2 - Sales and other metrics from business operations show sustainable business model.

3 - Sales channels and supply chain are in place and operational. Business model is set.

4 - Concrete discussions (term sheet level) w/ external funding sources that clearly are interested.

5 - Legal entity established w/ ownership structure suitable for the planned funding source.

6 - Term Sheet Level final documentation is negotiated supported by legal external advisor.

1 - Company is running the project by itself, without external support.

2 - Company is running the project with assistance from outside advisors, incubators and etc.

3 - Company has identified its internal capabilities and stablished partial partnerships.

4 - Balanced team w/ technical and commercialization experience running the company.

5 - Balanced team w/ capabilities onboard (sales, marketing, customer service) running the company.

1 - Not Initiated

2 - Secured funding for 6-12 months working capital runway according to current business plan.

3 - Money is on the bank and Company has fully implemented financial monitoring.

4 - Business model is operational and requirements meets/exceeds expectations (growth, profit,etc.).

5 - Business is operational and a comprehensive and credible system and metrics are in use.

6 - Full scale manufacturing and widespread deployment of product to customers achieved.

1 - Financial Management Control is in place with regular reviews on Budget Adherence and Cash Flow.

2 - Financial management and the Corporate Governance chart defined and implemented.

3 - Process Optimization activities is in place to seek ways to improve operational efficiency.

4 - Process Optimization running regularly with continuous Risk Assessment.

5 - Continuous operations and process improvement running as per the expectations.

1 - Sustaining: Enhancements to existing products or processes.

2 - Continuous Improvement: Ongoing updates and refinements.

3 - Breakthrough Innovation: Solutions for well-defined, difficult problems, often unconventional.

4 - Disruptive Innovation: Innovations that create new markets and displace existing ones.

5 - Radical Innovation: Significant departures from existing practices in products/services.

1 - Not Affected

2 - Sustaining Innovation

3 - Continous Improvement

4 - Break-through Innovation

5 - Disruptive Innovation

6 - Radical Innovation

1 - No New Market Need

2 - Sustaining curret market with minor enhancement

3 - Continous Improvement: ongoing market growth

4 - Break-through: strong growth potential within the same segment or sector

5 - Disruptive: potential for new sector or competitor displacement

6 - Radical: Create or Define new market

1 - Not scalable

2 - Sustaining curret scale with minor enhancement

3 - Continous Improvement: ongoing scale increase

4 - Break-through: strong scalability potential within the same region or location

5 - Disruptive: potential scalability for new regions or competitors displacement

6 - Radical: global scalability potential