A Sussex research team has been using the internet as a tool to produce research analysis for businesses breaking into new markets.
Potential investors want evidence a product or service is worth funding but delivering effective market research for new ideas can be a difficult task.
The Commercialisation Support Group (CSG) uses the internet as the main source to seek out information about uncharted markets.
Based at the Sussex Innovation Centre, at Sussex University, the CSG is made up of recent graduates, post-graduates and placement students working under the guidance of business professionals from companies such as KPMG. The group was created by Mike Herd, executive director of the innovation centre.
He said: "The internet can be used to gather a range of information about emerging markets where traditional research methods would reveal little useful data.
"We can look at trends around the world to help identify how a new idea will be accepted and whether there is sufficient interest to make it viable."
Last year, Neil Graystone managing director of Tulip Computers UK, based at Crawley, visited the innovation centre and was impressed by the CSG's work. The company donated four computers, software and support, worth £5,000.
Tulip's marketing manager, Pete Maslyn said: "We are always keen to support projects of this kind and we have plans to contribute further to the work being done at the innovation centre.
"Our company philosophy is to put people first and the work of the CSG is compatible with our aims."
Anjuu Trevedi, leader of the research team, said: "We use databases and the web to bolster information from traditional sources.
"We helped a professor, based here on campus, to find out if his new device to test for colour blindness, an anamoloscope, was unlike any other available.
"We plan to launch a basic market research tool on our web site to enable entrepreneurs and companies to conduct their own research and market sizing."
Contact the CSG on 01273 704400.
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