What is meant by innovation in the context of Graduate Placements? Innovation can take many different forms. It could mean finding new or more cost effective ways of doing things, adding additional dimensions to existing business products or services or accessing new markets. It could also provide information and expertise new products, materials, improve business processes or offer research to find a solution to a specific business problem. An innovative project must add value to the business, helping it to improve competitiveness and profitability and be in no way business as usual and be no substitute for recognised management and marketing practices. A graduate placement that supports innovation will involve new activities that enable innovation, providing the time, resource and expertise for a small to medium sized business to explore and develop in a timely and efficient manner ultimately leading to investment. The very nature of innovation means that the definition is fluid and different for each business, thus the project team will explore through an in-depth conversation and clearly define the innovative nature of the project, based upon the specific business problem. The guideline below provides some examples of what could be included:  New, innovation driven business model development  New, innovation focused service delivery  Innovative service development  Technical validation of a technology  Developing a prototype or demonstrator  Product and service testing  Exploration and application of new products and services to new markets or innovative ways of reaching those markets  Exploration of new channels to market, including web technologies  Bespoke software development related to innovative products / services  Intellectual Property development and exploration  Innovation or technology audits  Project management of projects that exploit innovative products or services Graduate Placements will support innovation activities in most sectors, but specific sectors generally ineligible under ERDF rules include those directly relating to agriculture and fisheries, textiles and retail. The aim of the programme is to deliver and enable innovation through graduate placements; there are a number of areas of activity or themes however that are specifically excluded from support. These are:  Achieving compliance with statutory regulations or legislation  Accreditations  Software purchases  Intellectual property protection  Business as usual sales and marketing activities including search optimisation and Google analytics, standard website design advertising and promotional activities e.g. design of posters, leaflets etc  Writing of general business plans  Stock control