TurboInnovate: The Commercial User vs the Government User

OmniSync’s newest product, TurboInnovate, is the most comprehensive, innovation-specific market research tool available at an affordable cost. This tool helps innovators and innovation seekers identify and act upon opportunities to successfully commercialize technologies. Our tool is trusted by federal agencies and built with the most comprehensive market data brought together in one place and personalized to your innovation. If you want to learn more about the creation, use, and potential of the tool read more here! TurboInnovate: Track and Predict the Future of Innovation.

TurboInnovate is built to serve everyone across the innovation landscape. Designed for both the commercial user and the government user, TurboInnovate has been created to offer top of the line market research data. There are differences to both sides of this tool and, in this blog, we will be exploring what TurboInnovate can offer you.

The Government User

The problem identified by OmniSync is that the current way of conducting comprehensive market research for government initiatives is ultimately ineffective. Conducting market research is simple only when researching a popular and extensive area or when looking at later-stage companies with mature innovations. TurboInnovate is federally backed by both the U.S. Air Force and Department of Energy. We have worked tirelessly to collaborate with these agencies and develop a product that could best bridge the government’s market research gap. Each generated report is customized to the user's area of interest. You can gain access to millions of data points, contacts, etc. in just a few clicks. TurboInnovate’s government user side is designed to help the government researcher answer the following questions: “Is there anything else out there?” “What other companies are out there?”. “Did I buy correctly?”

TurboInnovate’s market research capabilities can provide several benefits to a federal funding agency:

Comprehensive Market Insights: TurboInnovate provides the ability to access millions of inventions all throughout the innovation marketplace. Agencies can view what is on the market and what is being made. TurboInnovate provides the most up to date list of patents and funded materials in your field of interest to give you the most current and comprehensive market information. The government side of TurboInnovate also offers information on Air Force Challenges and federal lab tech, making the information available that much more invaluable.

• Evaluate project proposals: Market research helps funding agencies evaluate project proposals. TurboInnovate’s report provides a deeper understanding of the market landscape, competitive landscape, and potential risks and challenges. This information enables funding agencies to assess the feasibility, potential market impact, and commercialization potential of proposed projects.

• Support strategic decision-making: TurboInnovate assists funding agencies in making strategic decisions about resource allocation and program design. It helps understand market dynamics, identify areas of potential growth or disruption, and optimize the allocation of government funding. TurboInnovate allows the government user to conduct due diligence in the most efficient and cost-effective manner to ensure that they are confident in their purchase/investment.

• Demonstrate accountability and transparency: Market research strengthens the accountability and transparency of federal funding agencies. By using TurboInnovate for their market research reports, funding agencies can demonstrate evidence-based decision-making, justify funding allocations, and provide clear explanations for their strategic choices and investment priorities.

The Commercial User

When creating an account, you will be given the opportunity to identify yourself as a government or commercial user. A commercial user can be:

- Entrepreneurial Support Organizations (ESOs)
- University Technology Transfer Office
- An Entrepreneur
- Venture Capitalist / Family Office / Angel Investor And more!

TurboInnovate's versatile capability to analyze a vast amount of innovation data quickly and compile it effectively and comprehensively makes it the most essential market research tool. Market research is critical for devising effective commercialization strategies. Without a well-informed understanding of the market landscape, trends, competition, and much more you will be left to navigate the innovation journey based on guesswork or hours and hours of research. How TurboInnovate can best serve you depends on how you wish to use it.

Regarding entrepreneurial support organizations, ESO’s, TurboInnovate is a rapid and intuitive way of providing their entrepreneurs with personalized market insights for:

• Research on Unique and Innovative Markets: An underserved area we were able to identify is that conducting comprehensive market research on up-and-coming technologies is time-consuming and strenuous. Many market research reports that can be purchased do not provide the insights needed on new and innovative technologies. TurboInnovate was designed to bridge that gap and conduct the most accurate and up to date data on the user’s field of interest no matter the field.

• Rapid and Comprehensive Data: The traditional method of market research is time-consuming and, often-times, expensive. Many teams have stretched far too thin with restrictive funding that hinders their ability to conduct rapid and effective market research. TurboInnovate makes this process simple. In just a few clicks and at a tenth of the cost compared to our competitors TurboInnovate generates a fully comprehensive market research report customized to your field of interest.

• Evaluate competition and competitive advantage: Market research allows ESO’s to assess the competitive landscape and understand a company's position within it. They can analyze a company's competitive advantage, unique selling proposition, and barriers to entry, enabling them to make informed judgments about the company's prospects for success.

• Validate business and revenue models: Market research helps ESO’s validate the underlying assumptions and viability of a company's business and revenue models. By analyzing market demand, customer behavior, and pricing strategies, investors can assess the feasibility and potential profitability of the investment opportunity.

• Mitigate investment risks: Through market research, ESO’s can identify and evaluate potential risks associated with an investment. By understanding market dynamics, competition, and customer preferences, investors can assess the potential risks and uncertainties that could impact the investment's success, ultimately making more informed decisions to mitigate those risks.

• Support investment decisions and negotiations: Market research provides data-driven insights that support investment decisions and negotiations. It helps ESO’s justify their investment thesis, assess valuation, and negotiate deal terms based on the market dynamics and industry benchmarks.

• Monitor investments and track market changes: Market research is an ongoing process that helps investors stay informed about market changes and trends. By continuously monitoring the market, investors can identify potential opportunities or risks that may impact their support investments and make necessary adjustments to their strategies.

For the University Tech Transfer Offices TurboInnovate provides valuable insights and information that can guide business decisions and strategies:

• Evaluate Technologies: Market research helps users evaluate current technologies and potential technologies. TurboInnovate offers insights on commercial spending trends, recently patented technologies, and current market gaps. The user can use this information to determine if their technology can best serve their market and provide insights on potential success.

• Validate business ideas and concepts: Before investing significant resources into a new business idea, market research helps validate the viability and market potential of their concept. This validation can prevent costly mistakes and guide the development of a product or service that has a real market demand. TurboInnovate provides comprehensive data on innovations already on the market and what agencies, investors, and consumers are currently purchasing.

• Identify market trends and changes: Market research helps the user stay updated on industry trends, consumer behaviors, and technological advancements. TurboInnovate will update the user on any such changes as they occur in order to stay most up to date on this information. This knowledge enables them to adapt their products, services, and strategies to stay ahead of the competition and meet evolving customer expectations.

Overall, TurboInnovate empowers entrepreneurial support organizations and university technology transfer office, investors, startups and alike with valuable information and insights that enable them to make informed investment decisions, mitigate risks, and maximize the potential return on their investments. By leveraging market research, you can identify attractive investment opportunities, evaluate viability of a market, gain a competitive edge, make informed decisions, and increase the chances of business success.

TurboInnovate is an invaluable tool that is the most cost effective, comprehensive, fast, up to date market research software on the market. OmniSync is proud to have created such an essential and accessible tool to anyone within the innovation landscape. To get started, schedule a call with one of our expert team members!