Novel City Chamber of Innovation
Building a city with NO FEAR of failure.
Novel City Chamber of Innovation provides business development resources, innovation focused events, entrepreneurship education programming, strategy consulting, fiscal agency support for other entrepreneurial capacity building organizations, branding and governance advice. Novel City Chamber primarily operates in the US, and is headquartered in Kansas City, Missouri.
WHERE IS YOUR INNOVATION AT IN THE
NOVELOPMENT CYCLE?
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Need Assessment
Beginning with the Need Assessment step, the entrepreneur(s) will be guided in a unique process of identifying a specific need or problem in the marketplace that is ideal for a new product, system or service.
Economic Evaluation
The client is coached and assisted with the Economic Evaluation of Conceptual Assumptions4 that were determined in the previous step in order to decide if the idea is feasible and a worthwhile venture.
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Organic Research
The entrepreneur will have access to research resources that will assist with the Organic Research2 phase, which essentially consists of gathering the initial research for the innovation.
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Legal Assessment
The client is advised on legal issues associated with steps to secure intellectual property rights such as trademarks, copyrights and patents.
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Partnership Innovation
We work with the client to identify Partnership Innovation7 opportunities, meaning Novel City Chamber will seek to identify compatible angels who are interested in investing in the innovation, with the goal of protecting the intellectual property as well as conducting a more detailed feasibility study.
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Money, Management and Risk Mitigation
In this step it is likely that the innovation stakeholders will need to raise additional funding or identify a company with greater capacity interested in managing and developing the innovation.
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Vetting of Conceptual Ideas
Primarily involves building, testing, analyzing, dismissing and/or revising those ideas
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Observational Phase
Unique techniques for testing the commercial practicality of the innovation are shared with the client with the end-goal of identifying the true demand for the innovation as well as its scalability and revenue potential.
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Expansion
The expansion stage can involve the creation of the manufacturing and sales channel(s), which could require the creation of a venture entity or the forming of a strategic alliance with a highly specialized venture company with manufacturing and product sales expertise.
THINK NOVEL...
...TAKE RISKS!
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Novel Talent Attraction
In this phase specialized human capital is needed for sales & marketing, procurement, administration, research and development as well as manufacturing talent. The Novel City Chamber is designed to attract and build effective working relationships with top-talent social networks.
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Transparent Capital Campaign
In order to sustain the growth trajectory of a successful venture while maintaining the trust of the customers, employees and investors, it is important for the company to be able to have minimal restrictions with respect to access to capital. Consequently, the next step of the Novelopment Cycle is to develop a Transparent Capital Campaign11 via a public offering as the goal is to broadcast the health and growth potential of the company’s innovation capacity, while simultaneously infusing the company with highly liquid financial assets.
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Selling the Venture
The final step of our process is to assist our clients with Selling the Venture12 with the end goal of them choosing the optimal exit strategy that will lead to new investments in other Novel City ventures.