Transcript Slide 1
Industrial Technologies Commercialisation
Industry Relevant, Driven and Led Research
TECHNOLOGY IRELAND Department of Enterprise Trade and Employment Science Foundation Ireland Enterprise Ireland IDA Ireland
The EI Science, Technology and Innovation Strategy
Dramatically Increase R&D Activity In Companies.
Effective Industry Engagement With Third Level Resource.
Realising The Commercial Potential Of Irelands Research Community.
Jobs, Export Sales
How Important is innovation in products, services, processes or business Models on your organisations strategic agenda?
The Top Priority Among the Top 3 Priorities Among the Top 10 Priorities Not a Priority 14% 51% 30% 14% Importantly 86% saying some form of priority
Source: McKinsey Global Survey 2008
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.
Numbers of new spin out companies formed.
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.
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
Chief Executive Innovation Research Commercialisation INFORMATICS BIOTECHNOLOGY INDUSTRIAL TECHNOLOGIES Academic Community Industry
Industrial Technologies Commercialisation
Industrial Technologies Commercialisation
Industry Led Operations (Research Agenda) Commercialisation Operations (Licences/Spin Outs/HPSUs) Industry Networks Technology Transfer Offices
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.
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“Centre Director” reports to an Industry controlled Steering Group Enterprise Ireland supports academic researchers to deliver scientific and engineering solutions that are
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products of real research – new knowledge
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seen to address the relevant industry development plan
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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
In
dustry Led Networks
PEIG WiSen MicroMAN ICMR I2E2 Composites CCAN MCCI IVI Bio Refining E Learning Power for Electronics Wireless Sensor Networks Manufacturing at the micron scale Management (Business excellence) Energy Use in Mfg Advanced/Nano Composites Applied Nanotechnology Integrated Circuit Design Innovative Value Institute Energy from renewable bio resources 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 Models
Hosted 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
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Mix must be right – products; integrators; users – value chain
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Need special arrangements for SMEs Companies must be actively involved in
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Driving the Agenda
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Managing the process Management by a knowledgeable person with Industry background Companies and their own people actively involved in the research
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contributing cash and in kind
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developing towards their own products and processes Academic projects compliment Industry work
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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 Technology Business Plan + Implementation Capital Experienced Management
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?
Capital
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?
Management
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
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, motivation and 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.)