Briefly describe your idea or invention 2 Can you prove that your idea works? For example…

Assess your idea by typing your responses into this idea assessment chart. Your idea and your target market 1 Briefly describe your idea or invention 2 Can you prove that your idea works? For example have you built a working prototype?
3 Describe your target market (the sorts of customers who would buy your invention). How would your product or service help them in their daily lives? For example. would it make doing a particular task quicker and easier (like online shopping), or more convenient (like online banking)? Your competitive advantage
4 What products or services do you think are your key competitors?
5. What is your competitive advantage?
6. What makes your product or service much better value to the customer than what they already use or do?
Laws and regulations and constraints 7. What Australian or international regulations or laws apply to your idea? For example. regulations on product safety or industry standards