CLEVELAND, Feb. 3, 2016 /PRNewswire/ -- Nottingham Spirk today formalized its Vertical Innovation Consulting™ services, building on the approach that has delivered $50 billion in revenues and 1,000 patents over 40 years. Unlike traditional consulting groups, Nottingham Spirk's practice takes clients beyond creative ideas, putting those concepts on a fast, practical, efficient track all the way to market. Within three to four months, companies have a solid market direction, an idea for a disruptive product or service, and a partnership with a firm that can help them execute. All of this leads to a great return on innovation – something businesses can't wait to have happen.
"Our Vertical Innovation Consulting practice brings together the factors that set Nottingham Spirk apart, particularly our team's decades of innovation experience; we have 60 full time, seasoned consultants, many of them award winning patent holders. Add to this our ability to translate the voice of the customer into action and our policy of including non-traditional stakeholders who desire a voice in the creation process – all of this combined allows us to provide companies with a clear path to transforming creative ideas into revenue streams," said John Nottingham, co-President, Nottingham Spirk.
Well-known for bringing hundreds of revolutionary consumer products to market, including easy-pouring paint cans, the first electric toothbrush for the mass market and the first palm-sized pocket aerosol dispenser , Nottingham Spirk handles every aspect of innovation under one roof—i.e., research, design, engineering, prototyping, sourcing, and more. Research* has shown that disruptive innovations contribute the highest long-term, cumulative return on innovation investment. But a disruptive idea is only part of the equation; companies also need a clear path to market. Vertical Innovation Consulting provides the creativity and market insight needed – and a roadmap to making it a revenue-driving reality.
Nottingham Spirk's outstanding track record, with an 86 percent go-to-market rate across a myriad of industries, provides companies with reassurance that their decision to be bold, to explore new sources of revenue, can be done in harmony with their core business. An example of this level of trust can be found in MTD's Troy-Bilt FLEX, a powerful but easy-to-use, space-saving system for homeowners that offers unprecedented versatility at an affordable cost. Lowe's named MTD one of its 2015 Innovation and Vendor Partners of the Year, and the acclaim will likely continue as more attachments hit the market in 2016.
"Creating true innovation in the lawn and garden industry can be difficult, as the market's consumers view it as highly functional. However, our retail partners are always excited to receive something new," said Roy Keating, Vice President of Business Development, MTD. "In 2012, we were ready to feed that excitement, but not at the expense of diverting resources from our existing product lines. Working with Nottingham Spirk allowed us to have the best of both worlds – leveraging our 80+ years of experience in outdoor power equipment while utilizing the extraordinary innovation expertise of a firm with its own rich history. Our work together elevated the resulting product beyond basic function to a higher level of need satisfaction (including storage and versatility) - a key component in the FLEX launch."
"The innovations brought to light by the Vertical Innovation Consulting practice are designed to drive revenue for the long-term," said John Spirk, co-President, Nottingham Spirk. "Our team has real depth of experience working with clients to forecast patent opportunities, and 100 percent of our programs over the past 44 years have resulted in IP assigned to our client companies. We believe that innovation done right is the lifeblood of any business's long-term success."
*Monitor Group study, cited in May 2012 issue of Harvard Business Review
About Nottingham Spirk
Cleveland-based breakthrough innovation firm Nottingham Spirk is the innovator of wildly successful new businesses including: Spinbrush, Swiffer SweeperVac, Sherwin Williams Twist &Pour™, and MTD Troy-Bilt FLEX. Launched 44 years ago, Nottingham Spirk has developed over 1,000 commercialized patents that have generated over $50 billion in new revenue for industry leaders as well as fast-growth entrepreneurial firms. Through our proprietary Vertical Innovation™ approach, we handle every aspect of innovation under one roof, leading to significant time and cost efficiencies as well as ensuring confidentiality and intellectual property protection. To learn more about our collaborative approach and successes with our client partners, visit www.nottinghamspirk.com.
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SOURCE Nottingham Spirk