1. Tailoring to eliminate the divide

Academic projects come with a host of specific requirements that make a generic approach ineffective and tailoring needs driven by academic research’s complex nature is a challenge.

Commercialising academic research is unlike any other venture. While every project destined for market success requires customization, academic research is especially demanding in this regard. The unique and often novel nature of these projects (often exploratory, groundbreaking, and underpinned by years of rigorous study) triggers the need for a deeply tailored approach to achieve successful commercialization, like the combination of multiple funding and monetization pathways on a specific timeline. Take the example of a breakthrough in quantum computing from a university lab. While the science might be revolutionary, it could be years (if not decades) before the market has the infrastructure to make use of it.

The commercialization plan often must account for such timeline misalignment, adapting the project to a market reality triggering deadly pressures that may be entirely different from the academic setting it emerged from. The custom commercialization strategies must align innovative ideas with practical applications by correctly framing the science within potential market uses, including production scalability and commercial feasibility. This is why Fovea’s 3 driving principles are bringing new perspectives thinking outside the box, clarity and practicality. Academic research commercialisation is a very uncertain endurance race, requiring to adapt to changing environments and strenghts. That means flexible but detailed plans are needed, with a focus on anticipating the future with tools like scenario analysis to be able to express project success in such different scenarios made by factors which are all very specific to the project. Our strategies must consider the need for phased development, additional research, and securing intellectual property rights. Importantly, that allows our approach to emphasize creating long-term value, ensuring the academic innovation isn't just commercially viable now but remains relevant and impactful for years to come. For instance, we might plan incremental improvements or anticipate emerging market trends, securing the innovation’s relevance in the future and avoiding a tempting but unrealistic rush to project completion.

Addressing the business development expertise requires providing access to commercialization experts and external partners who can bridge this skill gap. Fovea’s tailored approach ensures these elements are seamlessly integrated into a strategy that makes sense for each project. An additional layer of complexity lies in the diverse attitudes researchers have toward commercialization. Some scientists want to play a central role in the transition, contributing to everything from product development to investor pitches. Others prefer to stay in the lab, focusing on what they do best. Our strategies are built to respect these preferences. We engage researchers as much (or as little) as they wish, allowing them to either step into leadership roles or remain dedicated to academia while we handle the commercial side. This respect for their professional and personal choices helps create smoother collaborations and more successful outcomes.

Commercialising academic research isn’t just about market fit; it’s about honoring the intellectual and societal value of research while bringing the necessary improvements to make it commercially viable and this requires an adapted mindset. Our tailored approach at Fovea allows for this balance, transforming academic discoveries into real-world solutions while ensuring they continue to provide long-term value. No two innovations are alike, neither are the markets they enter nor the innovators who make it happen. At Fovea, we see ourselves not merely as consultants but as partners. Our Opportunity Assessment combined with Operational Partnership model provides clients with the continuity and strategic insight necessary to navigate the complexities of commercialisation.