EXPERTISE
Technical Due Diligence
Are you a start-up, an investor looking to invest in a start-up or an established organisation looking to venture into a new market? Could you benefit from support in reviewing your product development roadmap? Why not leverage our expertise in developing market-ready products by taking advantage of our technical due diligence service?
What is included in eg technology’s technical due diligence process?
We will review the following aspects of your project:
- technology
- applicable standards (particularly for medical devices)
- any prototypes or proof of feasibility demonstrators
- gaps in technical documentation
- assess the timescales outlined in the project plan and key risks in achieving these goals
Benefits of technical due diligence
Our phased development and risk-based approach to product design and engineering enable us to identify gaps early in your programme, which helps to reduce risk and time to market for established organisations, investors and start-ups.
We are also able to assess technology readiness and put together a credible product development plan with realistic timelines and budgets. As a start-up this will enable you to plan your fund-raising cycles accordingly, as well as provide investors with more confidence in the companies they are backing. It also gives established organisations a clearer picture of the investment required to develop solutions in new markets.
How does it work?
Our technical due diligence service can be time-bound, so an initial high-level review is carried out, identifying key areas that subsequently require a deep dive. Alternatively, we can carry out a full in-depth review as required.
Our experience
We have extensive experience in carrying out technical due diligence for:
- university spin-outs
- start-ups
- SMEs
- established organisations prior to investment or commencement of major development projects
Different offers under Technical Due Diligence
Design Review
Developing a product involves several stages of prototyping to de-risk the programme. Whether you are still in early proof of feasibility, benchtop testing or already have a more developed prototype design, our engineering experts can review your design and assess its suitability for prototyping.
They will be able to advise on the optimal prototyping methods to use, based on where you are in your development journey and the purpose of the prototype. They will also be able to assess how transferrable the design would be further down the development path for user testing, reliability testing, compliance testing as well as volume manufacture.
Our review package could include:
- User and product requirements specification review
- Design files review – Mechanical design | Electronics design | Software architecture design, including code reviews
- Bill of Materials review and ensuring sufficient component availability (where applicable)
- Cost reduction assessment
- Leverage our network to facilitate introductions to prototyping partners
- Carry out bespoke testing (if required)
Transfer to manufacture assessment
Going through an iterative prototyping process during the development can help de-risk your programme. However, one of the pitfalls that many start-ups fall into is not designing with the end in mind.
At eg technology, our design experts have managed several product developments from concept stages all the way to transfer to manufacture. This experience in designing products intended for high-volume manufacture means our team understand how products need to be designed to ensure reliable and low-cost assembly, whilst also being able to identify common mistakes.
By reviewing the product design to assess its suitability for manufacture, you can reduce the risk of ending up with a design that is either expensive to manufacture or not viable to manufacture using standard processes.
Our review package could include:
- Manufacturing and assembly strategy review
- Product design review – we’d also assess its suitability for volume manufacture. This could include developing a programme to make the design suitable for manufacture (if gaps were identified)
- Product primary packaging solution assessment (if applicable)
- Bill of Materials review – assessment of component availability including support till end-of-life
- Cost reduction assessment
- Product manufacturing pack review
- Access to our network – we can facilitate introductions to potential manufacturers
- Support with pre-compliance testing (where required)
Product development plan review
At eg technology, we follow a rigorous product development roadmap with risk management at its core. This enables us to take technology that is at a low readiness level, which has been proven through early feasibility in the lab, through the different development stages and minimise risk during the process.
By addressing high-risk areas early in the programme, we are able to mitigate these before tackling the more trivial aspects of the product development. Having designed products over the past two decades, we are able to assess your plan or put together a product development roadmap tailored to the product in order to ensure its technical success and viability.
Our review package could include:
- Review of work related to early proof of feasibility (for example, any prototyping and testing carried out)
- User and product requirements specification review
- Product development strategy review
- Product development project plan review – If one does not exist, develop a product development plan along with estimated timelines and budget
- Key risk identification – we would provide suggestions on how those could be mitigated
- Development gap review – we would suggest recommendations for how those could be addressed
Pre-compliance gap analysis
Whether you are developing a medical device, a lab instrument or a monitoring solution within HealthTech, AgriTech or CleanTech, there are industry standards with which you need to comply.
Having developed products in strictly regulated markets, our engineers understand the processes and standards required to get CE, UKCA and FDA approvals.
Our review package could include:
- Reviewing the product design against specifications
- Reviewing documentation against applicable standards. Standards include, but are not limited to
- IEC 60601 for electrical safety
- IEC 61010 for electrical safety (lab instrumentation)
- IEC 62304 for software development
- IEC 62366 for usability and human factors
- Reviewing documentation related to risk assessment and Failure Modes and Effects Analysis (FMEA)
- Reviewing any pre-compliance testing and test reports
- Providing recommendations to address gaps identified, whether technical or regulatory
Our Technical Due Diligence is tailored to your needs and as such, the estimate for our review package will depend on the scope of the review. Therefore, for more information, or to discuss your requirements, please fill in the adjacent enquiry form or send us an email.
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