Orion Innovations was a core delivery partner in a European Consortium responsible for the FP7 ProNano project. The project implemented a structured methodology for broader commercial exploitation of existing R&D results, in the field of nanotechnologies, though spin-off creation and licensing strategies.
Consoritum members worked with European and National networks and research agencies to identify potentially unexploited technology and know-how, and to develop and test novel approaches to support their commercialisation.
50 technology-based business opportunities in the nanotechnology sector (with varied application) were identified from FP7 R&D results, and assessed in terms of market exploitation potential.
Approximately 30 of these business opportunities were selected to receive professional business-oriented support services in order to achieve commercial exploitation.
In 10 cases, final positive decisions on commercialisation/financing/acquisition were reached by end February 2012. An additional 5 opportunities are likely to reach a successful outcome by end 2012 / early 2013.
ProNano raised about 17 times its own EC contribution in investments into nanotechnology-based businesses, through a novel approach to commercialisation support.
10 out of the 50 business opportunities identified at the start of the project achieved positive commercial outcomes - a 20% success rate.
ProNano recognised the full complexity of the innovation processes and addressed them accordingly.
The European nature of the Consortium allowed individual projects to benefit from a broad knowledge-base and extensive networks.
EC funding was essential, since most technology developers were unable to pay for professional commercialisation support services.
Orion Innovations helped UK-based MAST Carbon to develop and realise plans to exploit its unique portfolio of IP in the synthesis of nanoporous carbon materials through licensing and new business start (see youris.com).
Zabala Innovation Consulting, Orion Innovations, Fraunhofer, Technofi, i.con. innovation, Mermaid Ventures, Icons, Sodena-Fidena, Angel Capital Innovations, Technostart.