Technology Information

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Interactive Application Mapping

When presented with the task of taking a new technology or product to market, there are many different routes to consider. The process of identifying different fields of application for the technology or product is known as application mapping.

For knowledge intensive ventures, the potential markets where a product or technology could fit can be varied and diverse. In the first stages of this process, it’s important not to discount any options.

Start by defining broad areas of potential application for a technology, then work to refine these ideas to specific use cases. The more specific, the easier the idea will be to test.

Considering a technology or product, outline the potential sectors and applications where it could have relevance. These can be deliverable both in the short term with current capabilities or longer term with specific adaptations and developments through further innovation and R&D across multiple disciplines.
EXERCISE

 

Application Accessibility Matrix

When mapping the possible areas of application for a technology, there will often be more areas that can feasibly be fully explored. While considering a handful of the "stand-out" applications, mapping the attainability of these endeavors against two key criteria starts to educate a picture of the strategy required going forward.

Market Immediacy - defines the eagerness or readiness for the market to adopt a solution on a time frame of short to long. Short market immediacy (low scores) correlate to relevance to current day markets. Long market immediacy (high scores) correlate to relevance to future markets.
Ex. quantum software companies have long market immediacy, they aren't relevant until quantum hardware solutions enter the market.

Market Accessibility - defines the ease of entry into the market place. Low scores correlate to easy entry, while high scores correlate to difficulty entering a market. Factors that influence high market accessibility scores are Barriers to Entry.
Ex. theraputic companies have high market accessibility scores. They have to undergo clinical trails before approval for use in patients, often at high incurred cost.
Barriers to Entry
The term “barrier to entry” has adopted many definitions throughout economic modelling and policy development. When considering a market to enter, it is useful to adopt a definition of barrier to entry as "anything that prevents an entrepreneur from instantaneously creating a new firm in a market."

These factors may include;
- solutions requires complex technology development
- large capital expenditures needed to establish physical infrastructure,
- regulatory requirements prior to sale on the open market
- restrictions of supply chain to preferred clients
- economies of scale inaccessible to smaller firms
- or the existence of restrictive intellectual property
High barrier to entry may make certain applications or approaches less attractive, though it may also mean that if these barriers are overcome the rewards are larger.

For knowledge intensive ventures, the potential markets where a product or technology could fit can be varied and diverse. In the first stages of this process, it’s important not to discount any options.


Technology Readiness Level
The concept of Technology Readiness Level (TRL) was formulated by NASA in the 1970’s to track the maturation of technologies. The scale is used universally for project co-ordination within R&D for its indication of project risk, resource allocation, and to gauge progress. The TRL indicates how much more development will be required before the technology or product is ready to enter the marketplace.

Core technologies may sit at different points on the TRL scale depending on the intended application and any requirements for the development of supporting systems and subsystems.

TRL 9: Full commercial application
TRL 8: First of a kind commercial system
TRL 7: Demonstration system operating in operational environment
TRL 6: Prototype system performing as intended in operational environment
TRL 5: Full scale testing in intended environment
TRL 4: Initial prototype in laboratory environment
TRL 3: Proof of concept, applied research
TRL 2: Technology concept formulation
TRL 1: Basic research principles, pre-experimental formulation
TRL 0: Idea generation, unproven concept