hothouse/programme interaction learning outcomes, value creation & value capture
TRANSCRIPT
Hothouse/Programme Interaction
Learning Outcomes, Value Creation & Value Capture
WE HELP …
DIT Researchers
Investors
Businesses
Entrepreneurs
What is Hothouse?The Technology Transfer & Innovation Centre at DIT
Commercialisation Team
• Helps DIT staff and students commercialise their IP
• Helps businesses find new technologies, research partners
• Develop research funding
• Qualifies the commercial opportunity for DIT technology
• Protects DIT IP
Incubation Team
• Helps entrepreneurs to start and grow businesses
• Helps investors find HPSUs
• Hothouse EPP supports 32 companies annually
• Typically ICT focus, some Life Science, Bio, CleanTech
Hothouse - Incubation
Enterprise Support Bodies
1 – 10 employees
Funding
Soft supports
No export requirement
Enterprise culture ...
10 + employees
Early stage funding
Equity investment in High Potential Start-Ups (HPSUs) if ...
Export focused
10 jobs
€1m in 3 years
Hothouse Funded by
Programme is a feeder for EI HPSU companies
HPSU = matched investment from EI & VCs/Angels
EI Development Advisor appointed to help mentor Pre-HPSU company
DA has +18 clients at any one time
EI actively funds VC funds also
Hothouse Venture Programme
Established 2001
A one-year incubation programme for early stage technology focused businesses
Aim to produce prospects for Enterprise Ireland
Based at Docklands Innovation Park (Bolton Trust)
Now on Hothouse 21!
300+ Hothouse alumni & participants
Start-Up Cycle
Conceptualisation
Validation
Resourcing
Implementation
Growth
Consolidation
Feasibility
Implementation
Resourcing End
Start
The Research Cycle
Conceptualisation
Validation
Resourcing
Implementation
Growth
Consolidation
Feasibility
Implementation
Resourcing End
Start
2009
Hothouse - Commercialisation
2010
DIT Mainstream Programmes Supporting Venture Creation and Commercialisation
MSc Business & Entrepreneurship
MSc International Business
MSc Strategic Management
MSc Technology Management & Innovation (Part time)
‘The Method’Value creation
Portfolio of Techniques to practice entrepreneurship
Entrepreneur, team, and firm
Serious games, observation, practice, reflection, cocurricular, design
Practice, Self-knowledge, fit, action, do-learn, cocreation, create opportunities, expect and embrace failure
Action
(Neck, Greene (2011))
Effectuation
What makes entrepreneurs entrepreneurial?•Bird in the hand •Affordable loss •Leverage contingencies •Patchwork quilt •Control v PredictionThe future is neither found nor predicted but rather made
Effectual v Causal reasoning
(Sarasvathy (2008))
www.movidius.com
www.equiendo.com
www.TCASonline.com
www.smartwallpaint.com
www.AirmidHealthGroup.com
www.MicksGarage.com
www.Propertygate.ie
Hothouse success stories
Evaluating New TechnologiesMost basic = is it a license or spin out?
License = enabler, relatively small market, single technology
Spin out = platform tech, large market, problem to solve, possibility of a team
IP – prior art? Strength of patent?
Outcome is a Feasibility Study, after
- Initial patent search
- Initial market research
Feasibility Study?Market Side Analysis:
• Validation of proposed market (are there others?)
• Market assessment – define addressable and primary attitudinal survey
• Define Key Geographies; Proposed Market Segments; market size and growth projections
• Industry trends
• Competitor analysis – SWOT analysis
• Potential Business Models
• Customer / User Questionnaire / Interviews
• Estimated sales per year
Feasibility Study, con’tProduction Side Analysis:
• Depends on validation of perceived market
• Define key production & scaling parameters
• Review existing process &/or research results
• ID Industrial scaling requirements to meet estimated sales volumes
• Value chain analysis – insource / outsource etc
• Cost analysis; fixed costs, operational costs, ROI etc
• Regulatory environment – marketing, gov. Standards, changes
• NOW – Define the Business Case
Technology Options / www.hothouse.ie
A Nutraceutical Seaweed Drink
Under Life Science
5x levels of bioactivity = weight loss / health drink
Extraction from an abundant resource
Extraction method patented (PCT)
1. Define the market need
2. Define the size of the opportunity
3. License or spin out?
4. Marketing / Sales plan
Technology Options / www.hothouse.ie
Audio Thumbnail
Under ICT
Automatically creates a thumbnail of music
Picks out the chorus – in a song, album, or library
Extraction method patented (PCT)
Social Media plug in application
1. Define the market need
2. Define the size of the addressable market
3. Define the business case for a start up
4. Analyse revenue models
Technology Options / www.hothouse.ie
ProjecTable: an interactive digital interface
Under ICT
Analyses the point of touch on a surface – projection & sensors
Research into the interface market shows it is crowded
Novelty is the point of touch software – Method patented (1st File)
Applications in signage or ambient media??
1. Define the market need
2. Find a problem (Innovation push)
3. Define the size of the opportunity
4. Licensee opportunities?
5. Industry interviews
Technology Options / www.hothouse.ie
Crypstic: an novel encryption software
Under ICT
Creates a multi-algorithmic keyless encryption
Pen drive – just a platform, taking a cloud based approach
Novelty is know-how
1. Define a niche high value (B2B?) application
2. Define the size of the opportunity
3. Define the customer need?
4. Licensee or spin out?
5. Business case
Technology Options / www.hothouse.ie
Audio Data protection
Under ICT
Creates a digital watermark which lives in an audio signal
Applications in the music / download copyright space
Regulatory applications?
Novelty is know-how
1. Define the application / problem
2. Define the size of the opportunity
3. Define the customer need? Who pays?
4. Licensee or spin out?
5. Business case
Technology Options / www.hothouse.ie
Audio Data protection
Under ICT
Creates a digital watermark which lives in an audio signal
Applications in the music / download copyright space
Regulatory applications?
Novelty is know-how
1. Define the application / problem
2. Define the size of the opportunity
3. Define the customer need? Who pays?
4. Licensee or spin out?
5. Business case
Technology Options / www.hothouse.ie
Pressure or Humidity sensitive HologramUnder Industrial
A novel holographic polymer
Can be individualised, show pressure points, change with humidity
Applications in instrumentation space
IP Patented (series of patents)
1. Define the size of the opportunity
2. Define the addressable market and segments
3. Define the customer need? Where is the problem acute?
4. Licensee or spin out?
5. Business case
Technology Options / www.hothouse.ie
Laser Doppler Vibrometer LDVUnder Industrial
Uses holographic optics
Much lower cost than traditional models
Applications in instrumentation / industrial measurement space
1. Define the addressable market and segments
2. Define the size of the opportunity
3. Define the customer need?
4. Licensee opportunities?
5. Industry survey
Technology Options / www.hothouse.ie
Wind and wave estimation software
Under Clean Tech
Uses a novel formula to better estimate wind velocity
Size, velocity, topography all impact location of wind farms
Applications in consulting / software space
1. Define the market size
2. ID the key players in the segment
3. Quantify the value proposition - B-C2 =V OR B-(C+I) = V
4. Industry survey
Technology Options / www.hothouse.ie
Production analysis in Fermentation process
Under Industrial
Uses novel technique based on fractal analysis - know how
Optimises fermentation process
Automated analysis of digital images
Could be delivered via software system
1. Analyse the size of the problem
2. Define the sectoral applications; brewing, pharma, etc
3. Recommend a high value niche
4. Delivery - License or spin out?
5. Industry survey
Technology Options / www.hothouse.ie
Stegocrypt: e-document authentication
Under ICT
Allows for authentication of e-documents, steganography
Image encrypted and embedded in document
Application education, security, etc (e.g. Diploma)
Novelty is know-how
1. Define the sectoral applications
2. Define a value of this sectors – size of the problem?
3. Define the addressable market
4. License or spin out?