To get IUI 5002 the innovative product must patented, and the idea of product must come originally from companies and its staff. IUI 5002 means the innovation that can change the world.
Product refers to a vital question - what makes a product or service innovative? Many people equate workplace innovation with quality and continuous improvement. That is, refining or improving existing structures, systems and processes to come up with better products or services. While this is highly desirable and challenging, it is more characteristic of an ‘adaptive’ culture, as opposed to a truly innovative one. For a product or service to be innovative, a few criteria need to be met
Criteria & verification
1. Should be register by company which invents the innovative product & service in patent and trademark office in the country where your patent was issued.
2. Must impact Region-wide Population
3. Must growth of existing and emerging industries.
4. Most anticipated advantages to be obtained
5. Should not relate to production or trade of alcohol, tobacco, gambling, or weapons.
6. Product must well-crafted, Appealing, Aesthetically attractive, Elegant, Well presented or packaged
7. Need to verify all requirements are being met throughout the life cycle
8. Should be register in international Patent Classification for example US patent, Uk patent, European patent
9. Must demonstrate benefit — given to an institution, unit or individual.
10. Should be at scale or suitable to be implemented at scale within the country and around the world
11. Demonstrates significant benefit to users and addresses market need or creates a new market
12. Marketplace success measured by profit, volume, growth rate, customer commitments, user reviews, and market impact
13. Qualities referred to as transformational and germinal
14. A transformational product transforms the world in the scope of its ramifications.