Making the leap from lab to market

Defining the pathway for a theoretical technology to become commercially viable

THE CHALLENGE

A novel drying method had been proven in theory in the lab, but it had not yet been applied to any specific commodity. The researchers needed to figure out how to design a prototype and offer this method to industrial customers in a way that was both feasible and desirable.

OUR SOLUTION

After identifying seaweed and insects as the initial target market for this drying method, we conducted market research and extensive customer interviews to understand their current drying needs and costs. We compared the collected data to what we understood to be scientifically feasible in order to complete two key pieces of venture design:

1.We translated the results into R&D parameters for a prototype that would be optimized specifically for market requirements.

2.We created a business model that both ensured the technology was economically viable, but still provided a high ROI to its customers.

THE OUTCOME

The technology is currently under consideration for an NSF STTR grant with several LOIs in place for customers eagerly awaiting prototypes of the first machine that will be available in 2022.