The path from research to a commercial product is challenging. Founders who are steering their discoveries toward marketable products know this journey well. A PARP study reveals a steep financial climb: a dollar spent on research demands ten times more for prototype development and escalates to a hundred times for market entry and product development. These figures stress the need for careful planning, efficient allocation of resources, and robust support during the commercialization process. The Horizon Results Booster steps in with services that guide innovations from concept to market.
A study by PARP presents a financial gradient:
- for every $1 spent at the research stage
- $10 needs to be spent at the prototype development stage
- $100 at the market entry and product development stage
This programme has been fruitful, with the top 131 companies raising over EUR 53 million in 2019 and 2020.
From December 2016 to November 2019, SCHIP launched 72 challenges, collected 502 solutions, and selected 81 teams from 27 countries, distributing €2.43 million in funding.
With European venture funding for DeepTech on the rise, the European Innovation Council has earmarked €1.6 billion to catalyze the development of next-generation technologies. Founders must harness this support, focusing on impact and the strategic exploitation of research to drive societal and economic value.
A Strategic Blueprint for Commercialization: Here’s how founders can craft their commercialization roadmap:
- Knowledge Creation: Innovate with intention, ensuring your research addresses real-world problems.
- Knowledge Transfer: Develop a robust exploitation strategy, protecting IP and fostering industry partnerships.
- Promoting Use for Impact: Utilize programs like the Horizon Results Booster to maximize the reach and adoption of your technology.
Case Study Spotlight
ECO2Fuel stands out as a testament to successful DeepTech commercialization. With META Group’s support, this biotech initiative navigated the stages from research to market, highlighting the need for strategic planning in business models, value chain analysis, and IP management.
DeepTech innovation holds the keys to transformative change. As a founder, your mission extends beyond innovation—it’s about creating value that resonates with the market and society. Embrace the available European Commission initiatives, refine your commercialization strategies, and position your venture at the forefront of the DeepTech revolution.
Non-technological bottlenecks, like the lack of knowledge of the market, financial issues, regulatory complexity, can prevent research results from making it to the end users. The support services provided by the program introduced to the region by the Aper Ventures at various stages bridge the gap between research results and the market by setting the ground for achieving impact:
- Explore research exploitation possibilities
- Set up roadmaps for the long-term sustainability of research results
- Improve teams skills set
- Assess Technology Readiness and Go-To-Market scale-up opportunities
- Identify funding opportunities; improve funding applications and pitching skills;
- Develop tools, such as a memorandum of understanding, protocols, implementation guidelines
- Design and implement awareness campaigns around new technologies for public acceptance and public trust
- Create synergies with other projects to increase the impact and reduce overlapping
- Identify and involve early adopters
- Outreach to multiple audiences
For years, Europe has been dedicating huge resources to scientific and technological research to innovation and improving the lives of its citizens. However, the results produced by research often do not translate into concrete benefits or do not reach their full potential. To improve the return on these investments in Horizon Europe, the focus shifted to ensuring that scientific excellence generates a tangible and recognizable change. This shift requires a new paradigm, an approach that goes beyond the “European project” dimension and leads to the effective use of R&I results. There is a struggle to transform these results, especially in the deeptech context, into direct benefits and maximize the scientific, societal, economic, and technological value of public funding. To succeed in generating value from research, three steps must be taken:
What has happened so far in Europe was the massive financing of the first step without supporting the other two, which are equally important. With Horizon Europe funding programme, the European Commission is defining a clear and feasible impact pathway and focus on measures to maximise impact. These activities are no longer a “nice to have” but a “must have”, as Exploitation, Dissemination and Communication activities play an important role.