Lab2Market is an innovation acceleration program that has been running for the past 6 years at IST (Instituto Superior Técnico) in Lisbon, Portugal. The main goal of the program is to collaborate with the technology R&D ecosystem in the University Landscape to develop go-to-market strategies with the selected projects. By understanding the sector needs and encouraging collaboration between parties, we aim to build the bridge between Technology and the Market.
In order to do this, i-deals and everis Portugal have provided hours of business mentoring to the 5 selected projects presenting them with the experience, knowledge and access to clients and as a result helping them develop a “go-to-market” strategy and shift their technologies from laboratory scale to commercial state.
Lab2Market@Técnico 2020 has run from the 19th of March until the 4th of June, with 2 clearly defined activity phases, each of them with its specific objectives and activities:
- Stage 1: Shaping the idea – The main objective of this stage was to build a business oriented package with the selected projects.
- Describing the way in which they will successfully address the problem they are tackling.
- Identifying competitors and possible substitutes of their technology, understanding their competitive advantage.
- Developing innovative value propositions that satisfy customer needs.
- Detecting different revenue streams.
- Building solid, scalable and competitive business models.
- Finding different commercial applications for their technology.
- Developing an Investors Pitch and One Pager.
- Stage 2: Validate it – Speak with the market in order to gather feedback, using the business-oriented material developed in the 1st working period.
- Is there a need?
- Validate with market feedback which jobs matter most to customers.
- Can we deliver?
- Collect evidence that our customers care about how our solution addresses the need.
- Is it worth it?
- Can we create value for the customers and for our company? Do the numbers actually work?
The selected projects for this year´s edition have been:
- Twinore: Twinore has developed an off-the shelf Human Pluripotent Stem Cells that are able to reduce transplant costs and increase transplantation success rate, unlike current immunosuppression or immune evasion existing solutions.
- Cathpro: Cathpro proposes a technology for the production of Bio-H2 to help industries reduce their carbon footprint, using a renewable source (biomass) as raw material and avoiding emissions by capturing CO2 in situ.
- DETU: DETU created an automatic step that helps any public and private organization who aim to increase accessibility means for people with reduced mobility, both reducing workers complains and increasing user’s autonomy.
- ASPIR: ASPIR offers an efficient screening platform designed for fast and cost-effective antibiotic discovery. At a highly competitive cost, it reduces the attrition rate and increases the likelihood of identifying antibiotic candidates.
- Science for Cultural Heritage (SCH): Science for Cultural Heritage (SCH) offers a nuclear microprobe and RTI set-up to help Art Collectors and all those sectors that want to keep or increase the value of their objects by adding knowledge on their pieces, helping them to contextualize them and detect fraud objects.
The final meeting that took place on the 4th of June showed how all the teams made huge improvements during the program in:
- Converting lab oriented ideas into business oriented products and processes.
- Creating commercial materials as a baseline to effectively contact potential partners and clients.
- Reached the market in order to validate the application and the target sectors of the proposed solutions.
- Worked on understanding the importance of developing market oriented technologies.
As a result of this year’s Lab2Market edition, fantastic results were obtained:
- 126 entities were contacted.
- We managed to carry out meetings with 26 potential partners and customers.
- 11 potential collaborations are in place after these meetings.
- 3 potential pilots and EU projects opportunities arose from contacting the market.