Industrial Technologies Commercialisation

Industry Relevant, Driven and Led Research

Science FoundationIreland

IDA IrelandEnterprise Ireland

TECHNOLOGY IRELAND

Department of Enterprise Trade and Employment

The EI Science, Technology and Innovation Strategy

Effective Industry Engagement With Third Level Resource.

Jobs, Export Sales

Dramatically Increase R&D Activity In Companies.

Realising The Commercial Potential Of Irelands Research Community.

Source: McKinsey Global Survey 2008

How Important is innovation in products, services, processesor business Models on your organisations strategic agenda?

The Top Priority 14%

Among the Top 3 Priorities 51%

Among the Top 10 Priorities

Not a Priority 14%

30%

Importantly86% saying some form of priority

Examples of measures of output Number of patents granted. Number of post graduates trained in industry relevant research. Numbers of projects completed and commercialised

successfully.

Examples of measures of impact Numbers of licenses agreed and signed with companies. Sales of products arising from technology licensed. Number of new successfully trading companies (HPSU)

arising from research.

Numbers of new spin out companies formed.

Number of post graduates trained in industry relevant research and moving into industry.

Increased Competitiveness arising from research.

Expected Impacts:

Break-though products & processes for companies

Higher export levels, spin-offs, patents & licences

Increased company expenditure typically leveraging other funding streams on more relevant R&D

Increased company involvement, two-way transfer of knowledge between markets and research community, trained researchers transferring to industry with improved skills and networks.

Innovation, Research and Commercialisation

Academic Community

Industry

Industrial Technologies Commercialisation

Technology Transfer OfficesIndustry Networks

Tools Commercialisation Fund

– Academic proposals Industry-Led Research: Projects / Programmes /

Technology Centres – Industry proposals, research with academia

Commercialisation Development Managers– Commercialisation from Large Research Centres

Applied Research Enhancement – Research in IOTs

Technology Transfer Offices– Strengthen TT in Universities and IOTs

Innovation Vouchers – Small Industry

Innovation partnerships– Collaborative Research

R&D Fund– In company R&D

Industry Driven / Industry-Led Research Programmes aim to solve technical challenges

faced by industry in Ireland. Agenda set by industry sector groups.– “Centre Director” reports to an Industry controlled

Steering Group Enterprise Ireland supports academic

researchers to deliver scientific and engineering solutions that are– products of real research – new knowledge – seen to address the relevant industry development plan – not encumbered by intellectual property considerations– Flexible structure to reflect industry evolving need

Developing the Industry Agenda Vision,

Markets / Products 2013 - 2018 Goals,

Measurable indicators of Vision Challenges,

Obstacles to Goals Needs,

Work required to overcome Challenges Targets,

Measurable objectives to achieve Goals Activities

Integrated programme

Industry Led Networks

PEIG Power for Electronics WiSen Wireless Sensor Networks MicroMAN Manufacturing at the micron scale ICMR Management (Business excellence) I2E2 Energy Use in Mfg Composites Advanced/Nano Composites CCAN Applied Nanotechnology MCCI Integrated Circuit Design IVI Innovative Value Institute Bio Refining Energy from renewable bio resources E Learning Finance

Construction (Smart Homes/Civil) Waste Treatment Water Treatment Knowledge Management Med Devices

What are we looking for?

Industry Relevant Research

Industry Driven Research

Industry Led research

Competence Centres Overview

Flexible Funding ModelsHosted in Research Performing Organisation

CCAN, Applied nanotechnology for biosensors & convergence themes

Composites MCCI, Electronics Bio Refining IVI

Not-for-profit company I2E2 Ltd. (Energy) ICMR Ltd. (Manufacturing)

In formation E learning Financial Services

Future Competence Centres IERC Other Industry Groups – Water Treatment?

Construction area? Med Devices? Connected Health?

Lessons Learned

Companies’ need must be real and identified Companies must be committed to the solutions

– Mix must be right – products; integrators; users – value chain

– Need special arrangements for SMEs Companies must be actively involved in

– Driving the Agenda– Managing the process

Management by a knowledgeable person with Industry background

Companies and their own people actively involved in the research– contributing cash and in kind– developing towards their own products and processes

Academic projects compliment Industry work– Both research agendas complimentary – In House;

Collaborative; International Projects adjustable to reflect market development and

Research progress

Critical Elements for Business Development / Creation

Focus on the business opportunity, not just the technology innovation

ExperiencedManagement

Business Plan+

Implementation

Technology Capital

Business opportunity?

What is the Product?

What does it do?

What will it add to somebody’s business?

Who will buy it?

What’s the route to Market?

Existing or new Start Up?

Technology Is the Value proposition clearly defined. Technically brilliant

product but does it deliver VALUE to the customer

Will the technology require considerable additional development before it is ready for the marketplace?

Is the market for the product or service large enough and accessible to warrant starting up a company?

What rights to use the technology (exclusive, non-exclusive) will a company need to successfully enter and compete in the marketplace with a product?

How much capital is needed to get the product to market and, if an equity license is involved, what is the anticipated pre-money value of the company at each round of financing?

What are the financial projections for the first five years of company operation?

Managing cash flow

What is the company's exit plan?

Capital

Who will manage the product introduction/new company and what is their relevant experience?

Can they breathe life into the business plan and ensure that the business strategy is implemented

Commercial Board Structure and effective Chairman

Ability to identify clear – and achievable – milestones

Management

Fostering of a Start-up Culture within the Institution

Inventors connected early on in the process with● Entrepreneurs● Potential customers● Other Networks

Cultivation of relationships with Business Angels and Venture Capitalists seeking seed stage investments

Understanding and management of Institution and Inventor expectations

Collaborate with EI’s Commercialisation Specialists We can help you

Creating successful Start-up Companies from Third Level Spin-

outs

Why are New Companies important?

Systemically very important to the Irish Economy

They can become high growth, high technology export focused companies that create jobs and exports

Promotes Inventor interest, motivationand reputational gain

Attracts more work and resources resulting in potential financial rewards for Inventor and Institution

Provides a focus on getting technology out to business

Positive effect on Economic, Social, Political and Cultural agendas

Successful Spin Outs

Current Economic Climate for Start Ups

Macro economic environment is recovering

Raising funds can be challenging

Business Confidence at low ebb

However, the World has not stopped ! ………………..

How E.I. Funds HPSU’s

Funding the Concept

Funding the Business Plan

Funding the Concept

Mentor, Bus. Accelerator

Strategic Consultancy

Feasibility

Recruiting Key Person

Innovation Vouchers (max. €5,000)

Overall Objective is to drive the project toward a full Business Plan

Funding the Business Plan: Innovative Funding

Evaluation of the Business Plan (which includes detailed financial projections/Cash Flows).

Based on identified cash need per the Business Plan, E.I. will invest usually by way of Preference Shares

Typical first investment is approx. €300,000 with additional support based on achieving agreed milestones.

E.I. will always look for co-investors (BES, VC’s, Promoters etc.)

Questions?

Thank you

jim.lawler@enterprise-ireland.com