Unlocking Faster Market Access with NIRI’s Accelerator Programme
In today’s fast-paced market, speed often dictates dominance. R&D teams frequently encounter barriers such as limited resources, skills shortages, and operational constraints that hamper rapid innovation. An agile and collaborative approach – working with external partners – can help companies be first to market, timely and relevant in addressing continually changing global health demands within commercially viable timeframes.
The Power of Agile Principles
While originally a philosophy associated with the software industry, the guiding principles of agile development make it a compelling approach for the successful commercialisation of innovative technologies across multiple sectors, including medical and pharma – accelerating and fine-tuning the journey to market. These agile principles can be distilled into three overarching concepts:
Adaptability
Mitigates inflexible goal-setting by allowing project teams to pivot and incorporate new insights as requirements evolve.
Customer Focus
Continuous integration of customer feedback ensures the final product meets market needs, enhancing commercial success.
Iterative Progress
Building, testing, and improving products cyclically enables R&D teams to identify and rectify issues promptly, refining functionality and design.
Collaboration and Communication for Quick Innovation
Enhanced collaboration and communication between internal teams and external experts are crucial for medical and pharmaceutical product innovation. By breaking down silos and fostering a holistic development approach, companies can reduce risks and improve cost efficiencies. The iterative process, with early and frequent testing, allows for rapid identification and resolution of problems, ensuring the product is robust and market-ready.
Expertise in Advanced and Fibrous Materials
Experts in advanced and fibrous materials, NIRI specialise in the development of products such as transdermal drug delivery systems, pharmaceutical filters, absorbent pads, and packaging. Our R&D services are tailored to meet the unique demands of the pharmaceutical and healthcare sectors.
NIRI’s Accelerator Programme
NIRI’s Accelerator programme is a plug-in approach to innovation that embodies agile principles on a retainer contract, significantly enhancing companies’ R&D capabilities and accelerating product development timelines. Central to the programme is the Senior Consultant, who manages communication and ensures a collaborative, client-focused approach to align project outcomes with client expectations and market demands. With their intuitive understanding of agile principles and a fresh external perspective, they help break down silos and steer the project towards success.
Addressing Market Challenges
According to the Fourth Product Portfolio Management Benchmark Study, over 50% of product development leaders report that innovation is not progressing swiftly enough. Companies often struggle to recruit staff with the necessary expertise within the required timeframe, adding financial risks, especially during the early stages of product development.
Unparalleled Access to Expertise and Facilities
NIRI’s Accelerator provides clients with unparalleled access to a team of over 35 world-class scientists and innovation leaders. This extensive knowledge base and pool of expertise can be integrated into projects at any stage, ensuring agile, cyclical, and iterative progress. Clients also benefit from NIRI’s state-of-the-art facilities for rapid prototyping, which narrows the gap between concept and prototype, accelerating the R&D process and reducing commercial risks.
The Balancing Act of Fast-Paced Development
It is important to note that while agile delivery methods offer significant benefits, they should not be seen as a solution for all product development issues. A recent Gartner report highlights the need to balance speed and value with strategic thinking when undertaking rapid innovation. NIRI’s Accelerator programme addresses this by providing strategic guidance from Senior Consultants, who ensure a deep understanding of market trends and regulatory landscapes, helping companies refine their objectives and maintain a broad, problem-focused approach.
Gartner Report ‘Product Managers Can’t Sacrifice Strategy for Agility’ November 2023“A lack of understanding of the trends in customer and market problems results in narrowly focusing on one specific solution, rather than developing a deep understanding of the problem.”
Partner with NIRI for Innovation Success
In the evolving field of drug development and drug delivery, an agile approach to R&D is vital. Embracing a collaborative model under the strategic leadership of a Senior Consultant from NIRI’s Accelerator programme enables companies not only move swiftly but also strategically, ensuring they stay ahead in a competitive market.
Don’t miss the opportunity to transform your innovation process and achieve your development goals more efficiently. To learn more about how NIRI’s Accelerator can benefit your organisation, contact our team of experts today or visit the NIRI Accelerator page.