The cost of developing a new product can vary significantly depending on the product’s complexity, industry, and specific requirements. At the start of your journey, we will discuss your product idea with you in detail. This will allow us to generate a bespoke proposal – outlining each phase of work and estimated costs per phase. If your development is high risk and involves significant technical challenges to be overcome, we will recommend undertaking a package of ‘technical feasibility’ to better understand these barriers before embarking on the wider development project. It is always important to remember that launching a new product will also require investment in intellectual property, manufacturing, distribution, marketing and sales.

The time required to develop a new product varies widely depending on its complexity, scope and industry. For example, an electro-mechanical medical device may take years to properly develop; whereas, a simple consumer product may only take a few months. Based on our past experience, we are always able to offer an estimated timeline. However, it’s important to recognise that whenever trying to create a new product, challenges will occur that will need to be overcome. This is why we believe it’s important to remain flexible and communicate regularly throughout the delivery of your project.

Due to the nature of our work, our team treat every design idea in absolute confidence. Even before discussing your project with us, we are able to send you a signed Non Disclosure Agreement (NDA), giving you the assurance that all commercial and technical details will remain confidential. We would also be happy to sign your company NDA document, providing the terms are mutual. Please email this directly to design@iterate-uk.com

You may wish to consider protecting your design with either a patent or design registration. There are differences between these two types of intellectual property: a patent protects a novel mechanical element or process; whereas, design registration protects the overall form of a product. The costs involved in one over the other vary considerably, as well as the time needed to obtain your documentation. We would suggest discussing your IP strategy with an Attorney in our network. It is important to remember that there are many other benefits to launching a product in to the market without any protection in place but this will vary depending on your specific circumstance.

Each project is delivered in a number of phases and a cost is attributed against each phase of work. We request that 50% payment is made upfront and 50% payment is made on completion of each phase. Providing the work is paid for in full, you will own all intellectual property associated with a given phase of work. All design rights will automatically be transferred to you at the point of payment. If for whatever reason, you fail to pay for the work that has been undertaken, we reserve the right to retain all IP associated with your project.

We pride ourselves on creating not just products, but exceptional client experiences. When you choose to collaborate with us to bring your vision to life, you’re not just getting a product development partner; you’re embarking on a journey designed to prioritise your success. Our unwavering commitment to enhancing your experience sets us apart. We believe that a positive client experience is at the heart of every successful project, and we’re dedicated to making your journey with us both enjoyable and rewarding. With our team by your side, you can expect a seamless and enriching partnership, where your needs and aspirations are at the forefront of everything we do.