VISTA Science & Technology
May 16, 2006 - Press Release - For Immediate Release
RESEARCH AND BUSINESS ALIGN WITH NEW COMMERCIALIZATION TOOLS
Welland, Ont. - A new method of assessing the market potential of new and emerging technologies is being launched by VISTA Science & Technology, and is designed to bridge the gap between research, development and the marketplace.
Designed and developed by VISTA over the last 12 months, the company's new R&D Positioning & Prioritizing Framework uses a variety of methods and scientific tools to assess a research project's commercialization potential and long-term viability in its early stages.
“It's purpose is to identify research projects with the greatest commercial potential, and to identify and assess those projects before they're even started or as research in progress,” notes Amy Lemay, president of VISTA, a Welland-based company which specializes in technology transfer.
“This is important to the scientific community because these tools will enhance their proposals and make them more competitive, helping to position their projects for real commercialization,” Lemay adds. “And it's relevant to the business community, to funding agencies and potential investors, because we can help ensure their investment achieves greater commercial opportunity than ever before.”
According to Lemay, early stage scientific research is being lost in the shuffle and often goes nowhere. Each year, there is $24.5 billion invested in R&D in Canada in both the public and private sector, but real commercial application and analysis is often lacking. The federal government has recognized the importance of helping to improve Canada's record of commercializing research and emerging technology when it formed, last year, the Expert Panel on Commercialization.
“It's one thing to have hundreds of patents, for example, but patents are simply a measure of invention and not a measure of commercial success,” notes Lemay. “In Canada, we don't measure the success of R&D by the actual development of new products, processes or services, and our record on commercialization is abysmal. We're putting lots of money into R&D but it's not showing through in bringing new products to the market or creating new jobs. The whole point of investing in R&D is to create jobs, create wealth and result in broader social benefits.”
The R&D Positioning & Prioritizing Framework consists of a variety of analytical tools to assess and evaluate the commercial potential of research and development, to determine future impact and social benefits of R&D. Those tools, with costs ranging from $1,200 to $12,000, include: Commercialization Outlook; S&T Sector Profile; State of the Technology Analysis; Commercialization Positioning; and Commercialization Review.
The Framework tools were piloted successfully over the past year with the National Research Council and Agriculture and Agrifood Canada, analyzing and assessing specific R&D proposals for those organizations.
“Their input and feedback helped us ensure that these tools are effective in determining whether a project, innovation or idea has market potential and broader social benefits,” notes Lemay.
VISTA has completed more than 350 technology assessments across a broad range of industry, for both public and private sector clients. VISTA has been developing its extensive suite of innovation products and services for the past six years, and is the exclusive Canadian distributor and licensee of American-based Foresight Science & Technology, which developed the proprietary Technology Niche Analysis methodology for evaluation of the commercial potential for new science & technology.
VISTA's expertise is aligning science with business by offering a range of market-oriented services for those in the field of research, development and commercialization.
For further information, visit www.vistast.com. For further information or to schedule an interview, please contact:
Amy Lemay, President
VISTA Science & Technology Inc.
Suite 302 - 76 Division Street
Welland, ON L3B 3Z7
(Tel) 905.734.3000 x 102
(Fax) 905.788.9637
alemay@vistast.com