Case Study: Innovation Activities
Commercialisation of a UK University technology to be developed into innovative lenses which alleviate the condition of colour blindness. The technology has a sound, scientific basis
without adverse effects which are encountered with a less-scientific method currently on the market. Our main activities, in chronological order, included:
- Winning financial support from an innovation fund for some technical and commercial developments.
- Conducting a market assessment to ascertain key intelligence such as global demand and size and the commercial price point. This indicated annual global sales of the new lenses of £150m and identified a number of key market sectors to be addressed for relatively rapid penetration. With very little competition in the marketplace also identified, this encouraged the University client to undertake further technical developments.
- Identifying and engaging with the leading independent contact lens manufacturing company in Europe which can ultimately manufacture and distribute the technology under licence from the University. A key technical collaboration was set up to assess the feasibility of the new technology and the company’s support also important to win further funding.
- Assessment of the relevant capabilities of alternative, potential manufacturers of the new lenses in order to reduce the commercial risk for commercialisation.