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Some Thoughts on Commercialization:Short Discussion & Examples
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Rohit Shukla, CEO – Larta InstituteDragos Pislaru, Program Director - CRIDL
Commercialization of Innovations
§ Commercialization is a long and
winding road§ Highly competitive, widespread
competence, research excellence
§ Not focused on the technology itself,
but on the business prospects and
pathways that results from the
application of the technology
§ Basic vs. applied, researcher vs.
entrepreneur – blurred lines
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Commercialization of Innovations
§ Commercialization is a “body
contact sportӤ Engages on many level, with many
stakeholders
§ Communication is key
§ How, with who, why, what, when
you communicate is part of the work
we do in the Program
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Commercialization of Innovations
§ University/research institute
approaches to innovation § Researcher-entrepreneurs often
insist on the “whole” innovation
§ Focus on fresh approaches or
perspectives over current ways of
doing
§ Focus less on technical excellence
than on customers, revenue,
market relevance
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Commercialization of Innovations
§ “IADD” has made everything
seem fluid & impermanent§ Difficult to get attention; claims are
made fast and die fast
§ Important to have continuous
feedback from market players
§ RICAP provides these
opportunities
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Commercialization of Innovations
§ Trust is established through and
within “networks” (e.g. Wikipedia)§ It is a global game
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RICAP Case Studies: Innovation & Impact
Peergate
§ Focused on an alternative web-
mail service, specifically for
scientists § Will help to categorize and prioritize
messages automatically
§ Innovative doc searching and
cataloguing capacity8
Peergate
§ Lessons learned: “pivot” away
more than once§ Flexibility in developing the “model”
§ Understand who will buy and why
§ What exists and how do we fit in?
§ Let’s hear from the entrepreneur!9
Green WaterNano Technology
§ Focused on treatment and
extraction of metals from water§ Remediation, re-use, using
innovative nanoparticle fibers
§ Strong research base, some
validation10
Green WaterNano Technology
§ “Soft landing” participant: 1 week
in Southern California§ Feedback, consultation, customer
discovery/identification
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Green Water Nanotechnology
§ Lessons learned:
§ Less about the technology, and
more about: “why would or should
anyone buy from you?”
§ Business model, revenue model,
partnership model, sales
channels
§ Let’s hear from the
entrepreneur/team!
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Wyliodrin
§ The need for user-directed
programming is widely-felt and
necessary due to the increasing
digitization of devices and
interfaces: “embedded devices”§ Focused on making user
programming easy, efficient, and
quick
§ No need for learning programming
languages
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Wyliodrin
§ “Soft landing participant in
Southern California:
1 week
§ Lessons learned: Cool is cool.
Interesting but:§ Who is your customer? Why does it
matter? Who are they and what will
they pay?
§ Revenue model, business model,
target customers
§ Lets hear from the
entrepreneur/team!
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RICAP Cycle I: Lessons Learned
§ Candidates need to identify:§ Problem their innovation will
address
§ Solution in terms of what currently
exists
§ Competition (always assume
competition) 15
RICAP Cycle I: Lessons Learned
§ Keep expectations aligned
with what is possible§ Flexibility in light of evidence
§ Expect to change because of
broader horizons (larger markets
outside Romania, especially U.S.)
§ The “cool” factor is universal:
customer adoption is not!
§ Work towards revenue, revenue
generation, business model,
continuous improvement
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RICAP’s Innovation Coverage
§ IT and computing
(educational/entertainment
software, web-based services)
§ Life sciences (biotech, biomed,
health care IT etc.)
§ “Cleantech” (“alternative” energy
etc.).
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RICAP’s Innovation Coverage
§ Agriculture (all sectors, including
precision agriculture, plant
sciences)
§ Materials
(nanomaterials/nanotech, new
materials)
§ Chemicals
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Thank You!Questions?
RICAP Partners: