Challenges and acceleration programs can be designed across a range of budgets
InnSure can provide program management for innovation challenges & cohort-based acceleration programs. Challenges and acceleration programs can be launch as integrated or stand-alone programs.
Innovation Challenges
The following factors impact the cost of program management for innovation challenges.
- Award type and size (pool size and largest individual award size) - Challenge awards can be in the form of any or a combination of the following
- Cash awards - which can be in the form of grants or other forms of payments such as revenue based loans.
- Service/acceleration support services
- Preferred access to procurement opportunities
- Award payment type
- Onetime payment or
- Milestone based payments
- Program promotional budget necessary to attract number and quality of applicants desired. The promotional budget required is driven by
- Expected/desired number and quality of applicants
- Likely pool of possible applicants which is a function of market size and maturity of the target sub-sector.
- Maximum and minimum number of winners allowed.
- Source and type of funding
- Pre-funded or requires additional fundraising
- Type of constraints on uses of funding.
- Nature of challenge focus area.
Cohort-based Acceleration Programs
The following factors impact the cost of program management for cohort -based acceleration programs.
- # of participating companies in the cohort.
- Length of cohort acceleration period in months.
- Number and categories of acceleration services provided:
- Business services (accounting, legal, program management, PR/Comms, etc)
- Information technology services including data science, core systems, etc.
- Capacity/risk capital acquisition
- Insurance product development
- Product launch/go-to-market
- Product distribution
- Talent management
- Type of acceleration services supported.
- Location/format of activities (e.g. travel required)