The innovation process starts with a new idea to improve a product or a process, as a result of understanding and responding to changes of the environment.
The propensity of a firm to identify areas for improvement depends, to a large extent, on its ability to recognise internal and external needs, manage its stock of knowledge and exploit technological and business opportunities.
Firms need to set up a relevant innovation strategy to monitor their performance, and do it faster than their competitors. For tech companies, the best option to keep up with market changes and face globalization is to allow agile development of their products.
Agile methodologies are iterative and incremental development methodologies that focus on client collaboration, team interaction and adaptation to change, and are increasingly being used for software project management.
The best-known software development initiatives, based on agile principles, such as Scrum, Lean, Kanban, Extreme Programming (XP), Crystal, Dynamic Systems Development Method (DSDM), Feature-Driven Development (FDD), Adaptive Software Development (ASD), enhance business processes in the same way: relying on rapid and reliable feedback between programmers and customers, small releases and continuous integration in short development cycles of analysis, design, build, test and review.
Academic styles of research have adopted similar methodologies. The SCORE method or “SCrum fOr REsearch” is an adjusted Scrum method, where the work structure: hypothesis, development, testing and dissemination is reviewed in shorter cycles than traditional R&D projects.
At Euro-Funding we work with tech companies that use these methodologies to increase their productivity through fast-developing innovative products, and help them develop viable financing strategies for their projects, by combining different public incentives: tax deductions, grants, loans, reductions in social security contributions and patent box.
We know that, due to the implementation of agile methodologies in software projects, rapid changing requirements and non-extensive documentation, can be critical constraints in receiving public incentives, and have the best experts to help companies cope with these issues.
Do not miss the opportunity to get the most of your R&D projects.
