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

ROSENC

§ Aquasolar§ Assures the

irrigation of

agricultural plots

up to 0.5 ha,

using solar

energy.

§ Partners: 7

“cluster”

members (2

universities and

5 companies)

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ROSENC

§ Lessons learned: improved

product and contacts§ Introduction to strategic partners:

crowdfunding opportunities

§ Clarified objectives and what they

need to do to reach them

§ Let’s hear from the entrepreneur!

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Peergate

§ Focused on an alternative web-

mail service, specifically for

scientists § Will help to categorize and prioritize

messages automatically

§ Innovative doc searching and

cataloguing capacity10

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?

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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) 14

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, water remediation 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: