Progressive construction of a market study for innovation projects

Abstract

Research, development, and innovation projects (R&D+I) conducted by public universities or research centers in collaboration with small and medium-sized enterprises (SMEs) can be divided into a series of well-defined stages. In all these stages, technological prototypes that embody new knowledge are incrementally obtained, until they become new technological products ready for commercialization. The purpose of this paper is to propose a method for creating an incremental market study profile based on different types of information obtained during each stage of the R&D+I project. The method results in a table that shows the market information that must be collected along the pre-competitive phases of the technological product development. The market study can contribute to a successful technology valuation process and simplify the technology transfer process from the university to the firm. In addition, we conclude that market information relative to the new technological product obtained throughout the process and awareness of total production costs represent elements for the project team to make sound decisions concerning the launch price. The incremental market profile described in the present article is a powerful tool to make decisions to accomplish successful R&D+I projects.