Four Key Lessons for Commercializing Research

[mouakter13]

WDI has identified and analyzed promising markets for this product, conducted financial analyses and models, and connected with potential commercial partners and customers. Several of the resources mentioned above have come into play during the commercialization process, which has also been supported by a grant from the Michigan Translational Research and Commercialization (MTRAC) Innovation Hub for AgBio at Michigan State University. We are also launching a similar italy whatsapp number data commercialization project with U-M faculty to develop a distributed fertilizer product, which is also carbon-neutral.



Based on our experiences in these and other projects, we’d like to offer some lessons we have learned for others – both within or beyond the university setting – who are interested in commercializing research in LMIC markets:

Develop a commercialization roadmap: It is important to embark on the commercialization journey with the right type of technology or innovation that addresses a real market need in LMICs. The key to identifying technologies with a high market potential in these countries is to ensure they take local needs, challenges and capabilities into account. For example, the gasification product we’re supporting has the ability to generate power using coffee or other agricultural waste as feedstock. This is a clear business play in several LMICs – particularly in African and Latin American countries that lack reliable grid power and have access to this feedstock. Identifying the intersection between a country or region’s market needs and technology capability is critical to driving the growth of the product. Additionally, the science behind the technology or innovation should be fairly well-established – i.e., the product should be based on proven scientific and technological principles – otherwise, the commercialization effort is unlikely to bear fruit. A combination of business and domain expertise and experience can help researchers assess these issues. To that end, we have found it helpful to develop a roadmap that articulates the entire commercialization process, determining when different types of expertise and effort are needed, when it is appropriate to move to the next phase, and when it makes sense to go back and iterate to make the best use of limited resources. The value of a roadmap is not limited to the commercialization process, but understanding the market needs in LMICs is key to defining the product specification that leads to successful commercialization.