Part of the BRE Trust

The Innovation Journey

Guy Hammersley

CEO BRE Ventures

Innovation…

“The successful exploitation of new ideas”

The route to success is a journey

It requires a leap of faith…

However with a bit of management…

Part of the BRE Trust

Critical Success Factors

Understand the market

“Necessity is the mother of invention”

Plato

Drivers for innovation

Political

Economic

Environmental

Social

Technological

Innovation

Understand the market

– What is driving the market?

– What is the need?

– Who wants it?

– What do they do currently?

– Will they pay and how much?

– How will they buy?

– What is the route to market?

– How big is the market?

– Who are the competitors?

Novelty

Novelty

– Is it a new idea?

– How is the need being addressed now?

– How does the idea differ?

– Is there prior art?

– And…

Incremental v disruptive

A better brick, or… a new way of building

Incremental v disruptive

TechnikFacade

Protection

Protection

– Who is the inventor?

– Who owns the intellectual property (IP)?

– Is the idea patented?

– If not have you told anyone?

– Has a non disclosure agreement been signed?

– Should it be patented?

– What else should/could be protected?

®TM

Technical due diligence

Does it work?

– Is it based on sound science?

– Where is the evidence?

– Theoretical or physical?

– Where has the evidence come from?

“Don’t tell me, show me!”

Business model

Business model

– What is the business model?

– What is your ambition?

Manufacture

and market

Many different models

OrLicence

The team

“Great discoveries and improvements invariably

involve the co-operation of many minds”Alexander Graham Bell

The best place for innovation in BRE!

The importance of the right team and the right partners

– Depends on the stage

– Depends on the business model

– The right people for the right jobs

– Be prepared to change during the journey

– Collaborative R&D projects

– Understand everyone's objectives

Finance

Finance

– Money matters!

– Get proper advice

– No easier answers to this

– Get everything else right to maximise your chances

– Funded R&D v investors?

– With investors what added value do they bring?

– Be prepared to dilute

– The changing profile of an innovation… £

Technology Readiness

“We choose to go to the moon in this decade…”J F Kennedy

But how ready is the technology?

Technology readiness levelsTRL

1 Basic principles observed and reported Phase 1

Basic science, proof of concept and feasibility

testing

2 Technology concept and/or application formulated

3 Analytical and experimental critical function and/or

characteristic proof of concept

Phase 2

Research and development of technology

4 Component and /or breadboard validated in

laboratory environment

5 Component and/or breadboard validated in

relevant environment

6 System/subsystem model or prototype

demonstrated in a relevant environment

Phase 3

System development, testing and

demonstration

7 System prototype or system demonstration in an

operational environment

8 Actual system completed and qualified through

test and demonstration in an operational

environment

9 Actual system proven through successful

commercial application

Phase 4

Commercial operation

Technology Readiness Levels, Partners and Funding

Universities

1 2 3 4 5 6 7 8 9

Industry

Demonstrated in

Relevant environment

Demonstrated in a

Laboratory environment

TRL

Technology Readiness Levels, Partners and Funding

Universities

1 2 3 4 5 6 7 8 9

Industry

Demonstrated in

Relevant environment

Demonstrated in a

Laboratory environment

TRL

GAP

Technology Readiness Levels, Partners and Funding

Universities

1 2 3 4 5 6 7 8 9

Industry

Demonstrated in

Relevant environment

Demonstrated in a

Laboratory environment

TRL

GAP

Technical support

Partners

Route to market

Funding

Technology Readiness Levels, Partners and Funding

Universities

1 2 3 4 5 6 7 8 9

Industry

Demonstrated in

Relevant environment

Demonstrated in a

Laboratory environment

TRL

GAP

Technical support

Partners

Route to market

Funding

“The Valley of Death!”

Technology Readiness Levels, Partners and Funding

Universities

1 2 3 4 5 6 7 8 9

Industry

Research & Technology Organisations

Special Government Programmes

Demonstrated in

Relevant environment

Demonstrated in a

Laboratory environment

TRL

And finally…

Success comes from improving every aspect of your game