5 Reasons To Pay Attention To Research Commercialisation
Torkel Nord-Bjärneman
Founder & CEO
Torkel is the Founder & CEO of Myrtleed Innovation and has over eight years of experience of commercialising cutting-edge research, new technologies and deep tech (including 5+ years as an entrepreneur and one successful exit). He has helped researchers, university innovation offices, EU research & innovation consortiums, and spin-outs identify market opportunities and increase business- & investor readiness within numerous deep tech domains such as material science, chemical engineering, renewable energy, agricultural technology (agritech), quantum technologies, medical technologies (medtech), nanotechnologies, and more. As an individual entity, Torkel is also a selected as a Business Coach for the European Innovation Council (within Horizon Europe) where he supports EIC Pathfinder, EIC Transition, and EIC Accelerator teams; an expert and mentor for the EIC Tech 2 Market Entrepreneurship & Venture Building programmes, and mentor for student- & researcher cohorts at KTH Innovation. Previously, Torkel has also served as Technical Committee Member (ISO TC229 Nanotechnologies groups) for American National Standards Institute (ANSI), British Standards Institute (BSI), and Swedish Institute for Standards (SIS), respectively. During this 5-year period, he was named National Delegate and Expert on Graphene for all three of the national standards bodies.
In today's rapidly advancing world, the bridge between research and the market is more critical than ever. From carbon capture and water treatment to renewable energy and sustainable materials, research is the cornerstone for the development of these technologies having the potential to bring meaningful impact on the planet and people's lives.
Here are five key reasons why we should pay close attention to the commercialisation of research.
1The world depends on research commercialisation
Research lies at the core of many ground-breaking solutions to the world's most pressing challenges. However unfortunately, a lot of research remains confined to the lab, limiting the possibilities for new solutions. Without the creation of spinouts or licensing of intellectual property, the public may never benefit from these inventions, and their potential could be lost.
Deep tech companies are often talked about as having the key solutions to global challenges, but it's important to highlight that research commercialisation is often a prerequisite for these companies to exist in the first place. Therefore, paying attention to research commercialisation might expedite more of these types of companies to emerge, hence potentially benefitting the planet.
2It demands the right competence
Bringing research from the lab to market demands a unique combination of technical knowledge and business acumen. Spinning out research from universities is not only about attracting investments for further technology development but also finding the right people who are both willing and skilled to do it.
This niche competence is vital. To foster it, we need to better connect research and its real-world use by making talent passionate about the journey from lab to market, not just the potential of it. By integrating commercialisation modules into Ph.D. programmes and highlighting the importance, we could change the research culture from one of academic curiosity to one of practical application.
3It enhances global competitiveness
Nations leading in research commercialisation have a competitive edge over other countries. A 2023 report from Vinnova , the Swedish Innovation Agency, states that Europe is not effective enough in commercialising its scientific discoveries.
"Even though Europe is a scientific superpower, it is falling behind in many key technology areas since it is unable to translate its academic strengths into commercial and industrial success to the same extent as the US."
Countries that spearhead technological advancements, have a strong international market presence, and attract top talent, fuelling economic growth. A strong focus on taking scientific discoveries from the lab to market fosters resilience and independence, enabling countries to respond to global challenges and opportunities with home-grown innovations.
4It's gaining momentum
Whether we realise it or not, the topic of research commercialisation is gaining traction. Companies like Greeniron, Blykalla and Novatron Fusion Group are making waves and are often highlighted as deep tech or clean tech companies. While the origins of these types of companies may not be as evident, many have their roots in rigorous research environments. This silent but powerful undercurrent is shaping industries and propelling innovation forward.
Furthermore, initiatives such as Norrsken Launcher, Ymner, and Impact Loop, are thriving and paving the way for a new era of companies. This group, amongst other actors within the innovation ecosystem, are all proof of a gained momentum and demand for disruptive technologies stemming from research.
5We are already influenced by it
It's important to recognise that many beloved products and solutions have a research background that we might not have realised. Brands like Oatly, Dyson, and Bose, and solutions like memory foam and Google, have changed the way we live. These are all examples of what can happen when research steps out of the lab and into our lives. Their ubiquitous presence is a testament to the importance of bringing research findings to the marketplace.
In conclusion
Research commercialisation is a pivotal step in the innovation process that deserves our attention and support. It's a complex and challenging journey from the lab to the marketplace, but one that holds the promise of significant benefits for society, the economy, and the planet. By fostering the right talent, encouraging a culture of practical application in research, and recognising the importance of global competitiveness, we can ensure that valuable scientific discoveries don't just end up as forgotten ideas, but as real solutions that enhance our world.
