Innovation

Nirvay provides services around innovation that include leveraging existing IP in the organisation, technology consulting, product design, business model innovation, and digital transformation. By leveraging emerging trends, data-driven insights, and collaborative approaches, organizations can stay ahead of market demands and competition. Nirvay provides innovation services with a structured yet flexible approach, encouraging experimentation while managing risks. Whether for startups or established enterprises, supporting innovation helps unlock new opportunities, enhances efficiency, and creates sustainable value in an ever-evolving landscape.

Client Concerns

Have I allocated enough resources to innovation in the company?

Have I monetised existing intellectual property in the company effectively?

Are there cross-functional teams that can spur innovation within the organization?

Is there clear ownership and incentive defined to encourage innovation in the organisation?

How do I decide which type of innovation I should pursue?

Have I allocated enough resources to innovation in the company?

Have I monetised existing intellectual property in the company effectively?

Are there cross-functional teams that can spur innovation within the organization?

Is there clear ownership and incentive defined to encourage innovation in the organisation?

How do I decide which type of innovation I should pursue?

Have I allocated enough resources to innovation in the company?

Have I monetised existing intellectual property in the company effectively?

Are there cross-functional teams that can spur innovation within the organization?

Is there clear ownership and incentive defined to encourage innovation in the organisation?

How do I decide which type of innovation I should pursue?

Our approach

Market Analysis

We analyze the market trends and dynamics based on the product/service. We evaluate the growth in the market not only through the lens of the product or service, but also competition in that space as well as allied sectors that can potentially encroach into that space. We consider the relative strengths and weaknesses of the firm that we are working for. Based on the market analysis, we identify the right segment to go after.

Identification of Customer

We identify customer pain points, and create detailed buyer personas. Through this process we identify who the ideal customer for the product/service would be.

Defining the value proposition

This is a critical phase where we are identifying the key value proposition of the product or service. The definition of the value proposition should be distinct from the competition and clearly articulate the uniqueness being delivered by the product/service. The features of the product/service should clearly align with the customer persona developed. This process is iterative and changes based on the early conversations with the prospects. This further leads to a clear messaging strategy across different channels about the product/service.

Collateral Development

This could take various forms from short elevator pitches, to presentations, to brochures/1-pagers to the website. The messaging has to be simple, clear and consistent across all these mediums. Collateral development can also take the form of blogs/articles showing thought leadership in the space, which could help in inbound interest for the product/service.