ARCHIVED - NRC Completes Third Annual Business Case Challenge
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July 05, 2005— Ottawa, Ontario
NRC recently wrapped up its third annual Business Case Challenge. The competition, internal to NRC, involved teams from eight different NRC research institutes and featured a broad range of cutting-edge technologies with uses in the health care sector, aerospace, manufacturing and information technology. Teams competed for NRC funding to help advance commercialization of these technologies.
Profiles of several winners can be found on the NRC main page. For example, you can learn more about the amazing properties of carbon nanotubes (think light, thin and incredibly strong materials) and the plan for a new Canadian company with a dramatically new method for producing nanotubes.
|2005 Business Case ChallengeTeam leaders, from left to right: Dr. Yasuo Konishi (NRC-BRI), Rachid Zarita (NRC-IAR), Dr. Anthony Shaw (NRC-IBD), Dr. Yves Geoffrion (NRC-IBS), John Lyons (NRC-IMTI), Dr. Orson Bourne (NRC-SIMS), David McGuire (NRC-IIT), Mario Béland (NRC-BRI), Blaise Labrecque (NRC-IMI) and Gino Lalli (NRC-IMI). Missing from the photo is Scott Roberts from NRC-HIA.|
Also profiled is a technology available for licensing from NRC, a new technique that uses infrared light to quickly and accurately identify blood-borne chemicals associated with cardiovascular disease.
Business case challenges, popular among many universities and colleges, are an established method of turning good ideas and technologies into innovative and successful businesses. A similar competition at MIT has resulted in the creation of over 60 new companies that today boast an aggregate value of more than US$10.5 billion.
For NRC, an organization with 20 different research institutes spread across Canada, a key priority is to help commercialize innovative technologies being studied, developed and refined in our labs. Work being carried out by NRC has tremendous potential to create economic value and competitive advantage for Canada, either through the licensing of new technology to Canadian companies, the creation of new companies, or partnerships and collaborations with industry.
The NRC Business Case Challenge helps research teams focus on critical issues in the commercialization process. This includes: identifying market segments and market potential for a given technology; undertaking a competitive analysis; and, developing business plans. The NRC Business Case Challenge is just one of a number of elements put in place by NRC to help commercialize technologies.
Licensing or New Company Creation – Competition Covers Both Angles
In 2003-2004 NRC signed over 67 licenses and brought in $5.5 million in revenues, funds which are reinvested into research projects. For the NRC Business Case challenge, three winners were chosen from among a number of NRC technologies available for licensing. Winners had to demonstrate the market for their technology and the plan for introducing their new technology to the market.
In other cases, if there is no suitable receptor for NRC technology, new companies can and have been created. For example, since 1995, NRC technologies have led to the creation of 60 new companies. These companies have raised a cumulative investment of $400 million. The NRC Business Case Challenge included a separate stream for research teams planning to create a new company based on NRC technologies. Winners had to demonstrate the uniqueness of their technology, its market potential and their plan for commercializing this technology.
Enquiries: Media relations
National Research Council of Canada
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