Commercialization of innovations for the Institute of Physical Chemistry of the Polish Academy of Sciences
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Comprehensive business consulting for the Institute of Physical Chemistry of the Polish Academy of Sciences
Over the course of three months, we completed a consulting project for a prospective company Institute of Physical Chemistry of the Polish Academy of Sciences. The IPC PAS is a leading research unit that was founded in 1955 and boasts the highest scientific category awarded by the Ministry of Science and Higher Education (A+). Researchers work on issues in chemistry, physics and biology, and annually publish up to 200 scientific publications appearing in prestigious journals!
The Institute of Physical Chemistry of the Polish Academy of Sciences (IPC PAS) has developed an innovation in microbiological diagnostic equipment, which it plans to bring to market in the near future. The IPC researchers have created a solution that has the potential to transform the industry, but without proper preparation even the most original idea does not guarantee market success.
Our client needed consulting on many levels to market their innovative solution in the most effective way, better understand their target market, figure out their current competitors and their business, learn about current industry trends and more!
What activities Were they part of the innovation commercialization plan?
Market entry strategy projects are among the more complex, as their scope includes a number of activities necessary for the successful commercialization of an innovative solution.
The project team, consisting of a dedicated Project Manager and three Business Consultants, began the work with managerial consultations, thanks to which we were able to better understand the client's current situation, define goals and establish principles of cooperation regarding the business plan for the spin-off company.
The foundation of the project was a comprehensive market analysis target market - microbiology diagnostic devices - and the competition present in it. Based on the information about the current size of the market, estimation of its value in the future and current trends, the project team prepared further parts of the report.
With an understanding of the mechanisms affecting the microbiology diagnostic equipment market, its current state and potential development directions, the project team developed a complete plan for the new company's entry and commercialization of innovations.
A very important element, verifying the profitability of the entire project, was prepared by our Consultants financial model. By projecting projected revenues and costs for the first 60 months of operations, the client was able to objectively assess the future financial health of the company.
Results of counseling for the IPC PAS
All of the above elements of the project allowed us to create a unique business plan, tailored to the needs of the spin-off company and niche market. This document will allow for the efficient and, above all, effective commercialization of the innovation created by the scientists of the Institute of Physical Chemistry of the Polish Academy of Sciences.
As ConQuest Consulting, we are very excited about our cooperation with IPC PAS, because we believe that innovation is the engine of progress and development. We are happy to get involved in projects at the interface of the two areas of science and business!
The culmination of the project is the reference letter we received, in which Mr. Jacek Gregorowicz, Deputy Director for Scientific Affairs of the IPC PAS, speaks about our cooperation:
"Our cooperation with ConQuest Consulting allows us to recommend it as a reliable and competent business partner, demonstrating the highest level of commitment. The analyses provided will allow us to make more accurate business decisions."
If you are also developing an innovative solution and need professional support in planning the commercialization of your idea -. contact us! We would be happy to tell you how we could help you during a no-obligation, free consultation.
We also recently issued a report titled. "How to commercialize technological innovations", in which, among other things, we explain what a spin-off company is, and the whole material is a complete guide for innovators who plan to commercialize their solutions. We invite you to read it!