industrial technologies commercialisation industry relevant, driven and led research
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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.
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
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
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
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 ! ………………..
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.)