In 2020, REDI launched the Eastern Idaho Entrepreneurship & Incubation Alliance (EI2) – a program that provides tools, resources, and mentors to maximize innovation, entrepreneurship, and incubation to fuel economic growth and viability in Eastern Idaho.
As an independent nonprofit organization, one of REDI’s areas of focus is fostering an inclusive and regional entrepreneurial ecosystem to drive ideas through accelerating discovery and commercialization of technologies that address critical regional, state, and national challenges.
REDI’s model creates a thriving ecosystem - one that brings together entrepreneurs, corporations, investors, incubators, and support organizations focused on collaborative and diverse partnership opportunities. Leveraging regional strengths and resources builds strong tech ecosystems. Sustainable impact comes from both public and private partners working together and not siloed efforts. Each stakeholder brings valuable insights and unites perspectives to ensure innovative ideas get the attention and assistance deserved.
REDI, through our network of partners, serves as a bridge to facilitate the piloting of new technologies and creates a “sandbox” environment where innovative solutions assist market-ready companies with the goal of creating successful high-tech start-up companies that in turn provide high-tech jobs in Eastern Idaho.
Starting a business can be overwhelming. The following are resources to help you evaluate your idea before moving forward.
Understanding Business Fundamentals is essential for a new business owner as it lays the groundwork for success. These fundamentals create a roadmap to guide businesses towards growth and sustainability.
Business Validation is a way to verify that the issue you’re trying to solve for customers is real and that your product or service is a good fit for the marketplace. It involves talking to potential customers, getting their feedback, and adjusting your ideas based on what the customer actually needs to ensure success.
Market Research involves gathering, analyzing, and interpreting information about your target market. This includes customer preferences, industry trends, and competitor activities. This research helps small business owners make informed decisions, identify opportunities, and tailor their products or services to meet the specific needs of their customer base.
Customer Validation is the process of obtaining feedback and insights directly from potential customers to confirm and refine your business idea and demand for your product or service.
Build Your Product or Service. Developing a product or service involves creating and refining offerings that meet the needs of your target market. This includes identifying a market gap or problem, designing a solution, and continuously improving it based on customer feedback. This process requires adaptability and a focus on delivering value to customers that will ultimately contribute to the success and sustainability of the business.
Development and Testing of Your Prototype.
Securing Intellectual Property Rights. Securing intellectual property rights is crucial to protect your idea, invention, or creation. It provides legal safeguards and prevents others from using, reproducing, or profiting from your intellectual property without permission. This process also ensures that your innovation remains exclusive to your business and competitive advantage in the market.