Development work was being carried out through public funding of a consortium of technical experts, academics, and private industry.
We assessed the capabilities of all stakeholders through interviews and research, identified solutions to fill these capability gaps and defined routes to market aligned with the consortium’s goals.
As independent advisors, we provided objective assessment of the technical and commercial landscape, identified potential commercial partners and engaged in confidential discussions to further inform the commercialisation strategy.
The highest risks to product success were assessed and mitigated, including validating customer expectations and agreeing IP strategy. Additional guidance was given on regulatory drivers and challenges, including requirements for explosive zone protection (e.g. ATEX) and technical de-risking.
We mapped the complementary assets and through gap analysis and market research provided recommendations on the best route to market, including mitigation on all remaining risks to successful product launch.
Our market analysis and validation of the end-user requirements led to a key development decision to pivot to a different product variant with a much stronger business case saving the development programme ~1 year effort.
We identified and engaged with >20 potential commercial partners, leading initial discussions, gauging levels of interest, assessing their suitability, informing the strategic plan and introducing key contacts directly to our client enabling them to move forward with more detailed commercial discussions on a possible future relationship.
The development programme is now moving to the next technology readiness level (TRL) with a commercialisation strategy and recommendations to inform later stage development providing a viable route to market.
Head of Industrial Instrumentation, Jamie Jeffs, says, “Working closely with multiple stakeholders, we were able to utilise our experience in bringing new technology to market whilst offering an independent perspective that gave the consortium both a clear path to commercialisation and valuable insights to inform design and development decisions, critical to the future success of this breakthrough technology.”
If you would like to find out more, please contact Jamie Jeffs:
answers@42T.com | +44 (0)1480 302700 | Jamie Jeffs | LinkedIn