What makes this innovation a competitive or industry wide “Game Changer?”
- Is this innovation a solution to a particular problem? (e.g. Regulatory change, OEM customer requirement, competitor offering, etc.)
- Is this innovation a platform (opportunity) for future developments.
- Describe the competitive response to this innovation.
- New products, new pricing, etc.
- Quantify the lead time advantage over the closest competitor?
This is often a challenging section as there is a reluctance to say much about competitors good or bad, but it is important for the judges to get your candid assessment of the competitive landscape.
Assuming the problems/opportunities you identified affect all OEMs and suppliers, we want to understand the competitive dynamics:
- What was the State of the Art prior to this innovation?
- Summarize the response of OEMs and competitive suppliers NOT using this innovation.
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