Wearable Product Accelerator frequently asked questions
Thrive’s Wearable Product Accelerator will enable you to forward plan development with certainty having gained broad access to our wearables knowledge, reducing the product’s technical risks.
This process will empower better strategic decision making, prioritize key product attributes to optimize resource management, and provide confidence for your stakeholder buy ins.
How long can I expect the package of work to take?
The process takes an average of four weeks to complete, but we can be flexible on urgent projects.
What outcomes should I expect?
You can expect a tangible, detailed technology roadmap for getting to market, including time, costs and risks. There is also a lot of value in the process itself, where we examine assumptions with perceptive questions, offer insight into best practice, and recommend efficient routes to delivery.
What happens next?
Supported by the results of this process, you will be able to move forward in your decision making with confidence and a clear understanding of the costs and timelines as you speak to investors, or simply make better decisions with existing budgets. Thrive can either continue to support your project’s ongoing work, or empower you to continue independently.
What stage of development do I need to be at to get the most out of this service?
We have worked with a range of company sizes, from independent founders and pairs of co-founders all the way up to corporate product teams. The stakeholders may change, but the needs remain consistent, so we can meaningfully contribute no matter what stage you are at.
What problems will it help me avoid?
The WPA process provides risk mitigation in terms of budgets, comprehensive delivery plans, and clarifying any unknowns – even the ones you may not be aware of. The specifics will be bespoke for each project we work on.
Can this be done under Shared Destiny?
Yes – we engage with the teams we work with early with our Shared Destiny model. We can offer you various options.
Are there any options if we are bootstrapping?
Yes – we will assess your status and make you an offer based on where you are at.
Will this process help us understand the regulatory side of product development?
We work in regulation consistently, so this area is familiar to us and something we are able to empower you with. If this is key for you, a member of the Thrive team may be selected to lead on this during the process.
Will this process help us with IP?
Our team can advise on areas where there may be IP opportunities, which is often dependent on the status of your development and IP. We have been named on over 100 patents, so have comprehensive knowledge of this system. If this is a key requirement, one of our team will be selected to assist in this area.
What will the product risk assessment consist of?
Our structured risk assessment brings together our experience with general risks and is combined with a focus on your specific technology combination and the product offering to be highly tailored but also fairly extensive across many areas. This mitigates the myriad of ways in which things can go wrong.
Would this be of benefit to academic institutions?
This service would be of huge benefit; when innovation departments look to commercialise, we have an expert awareness of the need to plan properly before major investment. The deliverables from this process can act as the bridge to significant investment to spin technology out, or to present a spin out proposition to third parties.
How bespoke is this service?
We have established the framework, tools and technology based on extensive user testing, but the team we select, and the themes and focus, are bespoke to your unique proposition. The outcomes in the Roadmap Report will also draw on tried and tested methodologies, but will focus on your needs and drivers exclusively.
Will this process help us understand the commercial viability of our product?
While you should be confident in the viability of your concept, we can bring realism to the cost and time associated with taking a technology to market. You can then make decisions on the commercial side with conviction.