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Develop an idea

  • By London Councils

What does a potential partner need to do?

 

Local authorities wishing to get involved in any of the ventures mentioned, or to discuss ideas, need to contact our London Ventures team.

Organisations and innovators looking to collaborate with London Ventures need to submit a concept proposal. This is a concise, high level summary providing an overview of the idea, to enable the London Ventures board to decide whether they would like to develop it further. Each proposal needs four parts.

The big idea

This articulates the problem and the proposed solution. It should identify who faces theproblem, why and how the proposed solution would help them, who would be involved and what structure, service model or product would be used.

Evidence of where a similar approach has been used successfully, accompanied by clear explanation of how the London Ventures project would differ, is often helpful to the board.

Proposed commercial venture

This is the plan for delivering the project. It justifies how the idea is to be delivered, including the benefits for the partners, and explains how the proposed approach will differ from a traditional supplier relationship. It estimates the setup costs and explains any detrimental aspects of the scheme (such as adverse effects on third-parties).

This section will also identify all the proposed partners, including investors, and describe what parts they will play.

Benefits

This identifies the financial and non-financial benefits, which ‘levers’ of activity would generate those benefits, and who gains from each one.

Risks and mitigation

It is important to explain the key risks to successful delivery and how those would be managed