A miracle cure for the millions or so people with a nagging business idea constantly rattling around inside their head launched today.

i2m (idea to market), a feasibility report online software service, enables budding entrepreneurs to find out if their big idea is any good… or a dud.

Via 16 carefully-worded multiple choice questions that prevent the need to reveal the exact details of their grand plan, within minutes users can receive a free evaluation report on the feasibility of their idea. The report identifies strengths and potential flaws and supplies an action plan for the user to follow.

i2m also offers users the opportunity to purchase its more comprehensive feasibility and research software package at a discounted rate of £80, which provides more comprehensive feedback and access to i2m’s extensive research statistics and contacts database, as well as an exclusive network of advisors, investors and entrepreneurs.

The software has been developed by innovation consultants Inventya and has been trialled by the University of Manchester, Business Link and a host of small start-up incubators.

David Thomas, co-founder of Inventya, said: “The majority of new businesses fail because the planning is flawed, not necessarily the idea. As shows such as Dragons’ Den highlight, if you don’t have the numbers and key information to support your concept, your concept is quickly dismissed by the investor.”

Research Inventya conducted while developing i2m shows investors believe focus on feasibility is just as important as putting together a business plan. Of 13 UK venture capital firms interviewed, 77% believed the business plans they received would have benefited from a feasibility study first.

“Everybody talks about business plans, but the feasibility research stage is crucial,” added Thomas. “A feasibility study investigates ‘is this a viable concept?’ whereas a business plan sets out what actions are needed to make it a viable business. There’s a big difference.

“i2m helps anyone who has a business idea to validate its commercial potential first, before getting the paperwork underway.”

If you’d like feedback on the feasibility of an idea you’ve got, visit www.i2monline.com

© Crimson Business Ltd. 2007