Lens of the Market® Stage 2: Innovation2Market is based on the premise that scientific researchers or leaders of early stage science and engineering ("STEM") companies can significantly increase the likelihood of commercial success by engaging in a rigorous market identification and validation process for the proposed innovations.
Innovation2Market provides science and engineering researchers or leaders of STEM companies with proven tools, skills, processes and templates to define specific applications of their research for specific markets, to conduct effective market gap analysis, and to define technical feasibility and a go-forward R&D plan to deliver market needs. The result is a prioritized set application/market pairs aligned with "star" markets – markets that are demonstrated to be able maximize reward and minimize risk for commercial success.
RESEARCHERS ARE THE ENGINES OF INNOVATION!
- Teams of 3-5 STEM professionals working on research together who are interested in translating their research into innovations (no business plan or skills needed!)
- Up to 4 teams of 5 participants per team
- 3-6 months, depending on the organization
- A team of experienced professionals with a track record of successful technology commercialization in start-ups and the Fortune 100.
- The workshop starts with a pre-workshop analysis of the research by the facilitators and is comprised of three interwoven components over a 3-6 month period. This duration can be specified by the requesting organization.
- Market gap analysis and technical validation for innovations using proven methods
- Selection of prioritized, market focused innovations based two levels of market and technical analysis – Quickscreen and Deep Dive
- Actionable R&D plans coupled to prioritized market requirements
- Skill by team members on what is required for market focused successful commercialization
- Pre-work: Analysis by the Facilitators
Facilitators immerse themselves in the aims and research situation of each of the participating teams, and adapt the materials to the development stage and knowledge of the host organization and participating teams.
- Component 1: Initial Identification of Applications & Markets
The program kicks-off with a 2-3-day intensive, in-person workshop with continuous interactive learning, synthesis and presentations by the teams.
- Component 2: Market Prioritization and Validation
The next 3+ months is structured in a series of work shown in the Figure which includes tailored videos aligned with the work to be done and accessible under password protection only to Stage 2: Innovation2Market participants, uploaded work by the teams into provided templates, live report back with realtime feedback and opportunities for presentation and questions.
- Component 3: Market Selection and Go-Forward Plan
Component 3 is the final report back and includes on site preparation and presentation finalization with the facilitators and presentations by all teams to an audience selected by the host organization.