The process of innovation begins with an idea, followed by a strong research and development process that eventually leads the idea into the prototyping and validation stage. Once the product or service passes this stage, we finally arrive at market readiness and scaling.
Scaling - in the context of business - refers to the process of expanding or growing a product, service, or operation to reach a larger audience, market, or level of production. It involves increasing the capacity and capability of a business to meet the growing demand for its offerings while maintaining or even improving quality. Scaling can encompass various aspects, such as increasing production, expanding into new markets, reaching a wider customer base, or enhancing infrastructure and resources to support business growth.
When scaling, your goal is to achieve business growth through - efficiency, profitability, and a broader impact by making your business or innovation accessible to a larger and often global audience. However, there are several key factors that need to be considered when scaling an innovation, one of which is regulatory certifications.
Regulatory Certification: Safeguarding Safety and Quality
Regulatory certification is crucial in ensuring the safety, quality and compliance of your product is met before moving forward into scaling your business. Here are several reasons why a regulatory certification is necessary before scaling your product:
Scaling-up: Transitioning to Mass Production
The transition from a small prototype to large-scale production is a big shift. Navigating this phase can be tricky, thus a need to take these key factors into consideration:
It is vital for business owners and innovators to carefully choose companies or organisations that will help them expand their industrial process on a larger scale. Pick partners who have the expertise and resources needed to produce your product efficiently and to the standards you require. The right industry partners can make a significant difference in the manufacturing process of your products.
Consider partnerships with companies that have experience in producing similar products or have the necessary expertise in your specific field. If you are a tech provider, connecting with local investors and collaborators is the best way to scale upwards with minimal risk. MRANTI’s MATCH platform facilitates connections between technology providers and seekers. . This enables you to engage with the right partners to take the next step forward.
As you move from making just a few prototypes to producing a larger quantity, you'll want to make sure that the manufacturing process becomes more efficient. This means finding ways to do things more quickly and smoothly. However, it's essential to ensure that this increased speed and efficiency does not lead to a drop in the quality of your product. Balancing efficiency with quality is a critical challenge.
MRANTI’s in-house facilities offer the perfect testing environment to achieve this. The cost would also be significantly lower as compared to independent tech providers as MRANTI offers governmentally subsidised solutions. Better value at a lower cost. Find out more about how MRANTI can help with prototyping and validating your innovation.
Governmental initiatives and benefits can also help businesses to streamline their production processes. The National Industry 4.0 Policy, for instance, is a governmental initiative that is aimed at promoting and advancing Industry 4.0 technologies and practices in the country's industrial and manufacturing sectors. It focuses on embracing digitalisation, automation, and smart technologies to enhance productivity, competitiveness, and innovation in Malaysian manufacturing industries. Leveraging these initiatives can help streamline processes and improve the manufacturing process of your products while maintaining the standards of quality required.
Large-scale production comes with its own set of challenges. You'll need to prepare for the increased demand for materials, equipment, and labour. You might also have to address logistical issues and supply chain complexities to meet the needs of a larger manufacturing process.
Expanding your production for large-scale orders is similar to preparing for a massive celebration, a small family gathering is different from a large-scale festival. Hence, when you experience business growth, you’ll need to make significant adjustments to meet the increase in demand. MRANTI tackles this challenge by providing our tenants with the opportunity to rent space needed to store their innovations through competitive pricing.
Commercial Deployment and Launching Your Innovation
Once your product can be easily scaled, the next stage would be commercial deployment and launching. This refers to the phase in the innovation process where you take your new product, service, or idea and prepare to introduce it to the market for customers to purchase and use. This stage is about turning your innovation into a commercially viable product or service. This involves multiple activities such as:
This means studying the market to understand it better. You're looking for opportunities, which are chances to sell your product, and challenges, which are things that might make it hard to sell your product. This helps you make smart decisions.
Once you know the market well, you can decide how to present your product to make it really appealing to customers. This is called positioning, where you figure out how to make your product stand out and be noticed in a good way.
Your brand is what makes your product special and different from others. Protecting your brand means making sure no one else can use your special features. This is important because it keeps your product unique and helps customers recognise it easily. A strong brand identity builds customer loyalty and reputation.
Why Getting an Intellectual Property (IP) is Important
Scaling your product to a larger audience undoubtedly brings with it new competitors. If you have a good product, your competitors may attempt to copy or imitate your concept. This is where IP protection, such as patents, trademarks, and copyrights, safeguards your innovation from being exploited without your permission, preserving its intrinsic value.
Acquiring an IP also helps you avoid legal disputes. Such disputes can be costly and time-consuming, potentially hindering your scaling efforts. Furthermore, an IP can also be leveraged for business growth. An IP is an asset that can be monetised, attracting investors and partners to financially boost your business's output.
Investors and potential partners are more likely to support your scaling endeavours when they see that your IP is secure. It adds a layer of protection and can boost their confidence in the sustainability and profitability of your venture, which is why MRANTI’s IP services are so important. Our internal consultants help you acquire and manage your IP rights — helping you make informed decisions when scaling to a larger market.
MRANTI's Commitment to Your Success
At MRANTI, we are committed to guiding innovators and thinkers to move forward in developing their products and services. Our many programmes and solutions help local business owners expand and scale up to create tangible business growth.
Looking to tap into bigger markets? Contact us to get in touch with our expert consultants.