Academic research projects may not have an obvious commercially viable outcome and in some cases, R&D may not be visible to university innovation teams. Local SME’s in the university catchment area may also be involved in R&D but be unaware of the potential benefits of academic R&D involvement.
The PIPE process is designed to identify Science, Technology, Engineering and Math based projects in both Academic and local SME domains that will benefit from the incubation, DD and funding process.
This requires Visibility of projects and the development of a STEaM PIPE ‘pathway’ within the university and local SME community to drive awareness of the commercial process to support R&D and IP commercialisation.
Since 2012 we have honed our approach to identifying and commercialising R&D and Innovation and have broken the process down into four (4) distinct phases. This allows the university and local SME’s to engage the methodology either in part and phase by phase or as a wholly outsourced and turn key solution – see below:
Phase 1 – ‘Getting to know you’ – Visibility and Viability, Objectives, Opportunities, Mission or (VAVOOM) – this is when we identify and prioritise opportunities.
Phase 2 – ‘Development’ – of the Vision, Mission, Objective, Strategy, Tactics or (VMOST) – this is where we form the commercial frameworks.
Phase 3 – ‘Defining’ – Goals, Objectives, Strategy, Plans, Actions or (GOSPA) – this is where the business plan, financial plan, team structure and investment requirement are defined and documented.
Phase 4 – ‘Financing’ – Pitching, Interviewing, Negotiating, Closing & agreeing future Handholding needs or (PINCH)
The STEaM PIPE process and the wider PIPE ecosystem is promoted locally and nationally to SME’s and corporates to drive collaboration, helping business understand the opportunities and value of engaging with university R&D.
This process is proactive and each university/region has a dedicated account manager who’s role is to promote collaboration locally and regionally as well as nationally and in some cases internationally. Account managers share innovation projects and consider if connected projects across borders will form more viable propositions and joint ventures for grater, longer term benefit.
Commercialisation of R&D/IP is the goal of the PIPE process with the ongoing financial support from seed to IPO funding managed via the PIPE. Funding will be provided for projects that meet the DD criteria and KPI’s from €150,000 through to €2m and beyond.
For more information, please Contact Us.