Expand Your Innovation Pipeline
Looking for Somewhere to Grow?
Maybe you have aggressive targets to meet. Maybe Wall Street analysts are on your back. Maybe low-cost competition has eroded your business to a point you can’t ignore. Whatever it is, pressure is on to show results, both top and bottom line.
You need to identify new opportunities for growth, and while you think there’s more out there for you, you keep seeing the same options every time you search. You’re looking for a new perspective to be sure you aren’t missing something big.
SONAR™: Newry’s Novel Approach to Discovery
In our decades of experience serving innovators, particularly in the specialty chemicals and advanced materials space, one common theme we’ve observed has been the need to identify new opportunities for growth for existing capabilities. For these capital-intensive enterprises, maximizing the value of differentiated technology is critical for long-term success. And even for the most hefty of cash cows, this often requires looking beyond the core markets where a product first gained traction.
However, adjacent market growth is often easier said than done. Incumbents have a tremendous advantage over new entrants, and if a company has no prior experience in a particular area, they must go through the process of identifying key customers, developing new relationships from the ground up, and building sufficient trust that those customers are willing to share their needs. This process is time-consuming, laborious, and fraught with risk; in short, not a very appealing proposition.
Newry developed SONAR™ to address this challenge and help our clients expand their innovation pipelines. What started as a labor-intensive searching technique for niche applications has evolved into a sophisticated, systematic process that reliably uncovers high-potential opportunities for growth by finding hidden connections between our clients’ unique capabilities and critical unmet needs.