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Industrial Technologies Commercialisation Industry Relevant, Driven and Led Research

Industrial Technologies Commercialisation Industry Relevant, Driven and Led Research. TECHNOLOGY IRELAND Department of Enterprise Trade and Employment. Science Foundation Ireland. Enterprise Ireland. IDA Ireland. Dramatically Increase R&D Activity In Companies.

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Industrial Technologies Commercialisation Industry Relevant, Driven and Led Research

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  1. Industrial Technologies CommercialisationIndustry Relevant, Driven and Led Research

  2. TECHNOLOGY IRELAND Department of Enterprise Trade and Employment Science Foundation Ireland Enterprise Ireland IDA Ireland

  3. Dramatically Increase R&D Activity In Companies. Effective Industry Engagement With Third Level Resource. Jobs, Export Sales Realising The Commercial Potential Of Irelands Research Community. The EI Science, Technology and Innovation Strategy

  4. How Important is innovation in products, services, processesor business Models on your organisations strategic agenda? The Top Priority 14% Importantly 86% saying some form of priority 51% Among the Top 3 Priorities 30% Among the Top 10 Priorities Not a Priority 14% Source: McKinsey Global Survey 2008

  5. 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.

  6. 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.

  7. Innovation, Research and Commercialisation Academic Community Industry

  8. Industrial Technologies Commercialisation Industry Networks Technology Transfer Offices

  9. 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

  10. 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

  11. 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

  12. PEIG Power for Electronics WiSen Wireless Sensor Networks MicroMANManufacturing at the micron scale ICMR Management (Business excellence) I2E2 Energy Use in Mfg Composites Advanced/Nano Composites CCANApplied Nanotechnology MCCIIntegrated Circuit Design IVIInnovative Value Institute Bio Refining Energy from renewable bio resources E LearningFinance Construction (Smart Homes/Civil) Waste Treatment Water Treatment Knowledge Management Med Devices Industry Led Networks

  13. What are we looking for? • Industry Relevant Research • Industry Driven Research • Industry Led research

  14. 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?

  15. 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

  16. Critical Elements for Business Development / CreationFocus on the business opportunity, not just the technology innovation Business Plan+ Implementation Capital Technology ExperiencedManagement

  17. 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?

  18. 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?

  19. 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?

  20. 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

  21. 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

  22. Creating successful Start-up Companies from Third Level Spin-outs

  23. 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

  24. Successful Spin Outs

  25. 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 ! ………………..

  26. How E.I. Funds HPSU’s • Funding the Concept • Funding the Business Plan

  27. 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

  28. 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.)

  29. Questions? Thank you jim.lawler@enterprise-ireland.com

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