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Università di Roma “La Sapienza” – Dipartimento di Ingegneria Meccanica e Aerospaziale
The death valley of innovation
The methaphor and some comments from the field
Prof. Paolo Gaudenzi
Dipartimento di Ingegneria Meccanica e Aerospaziale
“Life & p ath o f an innov ative project in
France
Or the inno vat ion chain from idea to
development”
Rome Feb 3, 2015
Facolta di Ingegneria Civile e Industriale
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Università di Roma ―La Sapienza‖ – Dipartimento di Ingegneria Meccanica e Aerospaziale
P. Gaudenzi The death valley of innovation
DEATH VALLEY
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Università di Roma ―La Sapienza‖ – Dipartimento di Ingegneria Meccanica e Aerospaziale
P. Gaudenzi The death valley of innovation
The Valley of Death of innovation:
A Desert Between Research outcomes and the Market (or the profit)
The development of our global society is currently based on innovation.What is innovation?
1 The action or process to making changes in something established, especially byintroducing new methods, ideas or products. (source: Oxford Dictionary)
2 The process of t ranslat ing an id ea or invention into a good or service than createsvalue for which customer will pay. To be called an innovation, an idea must bereplicable at an economical cost and must sat isfy a sp ecif ic need.(source: Businessdictionary.com)
It is clear that the novelty is introduced in a context, a specific environment, that mightbe a market, that recognizes the introduction of something new.
Innovation is not a synonimous of discovery (find, learn of, or observe something for the first
time) or of invent ion (to produce something previously unknown by the use of ingenuity or
imagination) but of course a discovery or an invention might be the sources for an innovation.
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Università di Roma ―La Sapienza‖ – Dipartimento di Ingegneria Meccanica e Aerospaziale
P. Gaudenzi The death valley of innovation
Discovery
Invention
Initial
Product orService
concept
Research andDevelopment
Innovation
New Productor Service
Utilisation
and sales
Creativity Hard Work Reward
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Università di Roma ―La Sapienza‖ – Dipartimento di Ingegneria Meccanica e Aerospaziale
P. Gaudenzi The death valley of innovation
Why a valley of death?
In technology transfer, the valley of death is the metaphor often used todescribe the gap between academic-based innovations and their commercial
application in the marketplace. The valley of death suggests that the practiceis anything but smooth.
As a metaphor, the valley of death suggests that the path between academicinnovation and its commercial application is a perilous and life threateningone at best. Indeed, regardless of its merit, an innovation’s success is nevercertain—many obstacles, including monetary resources, can stand in the way.
(source: K.E. Gulbrandsen Bridging the valley of death: The rhetoric of technologytransfer, PhD Thesis, 2009 Univ Iowa)
The valley of death refers to financial risks that start-ups face as they struggle
to grow from small teams to going ventures. The dip of the valley refers to thedebt —the negative balance sheets—that companies experience as theyinvest money now in hopes of making it back upon success.
(source: Into the Valley of Death, A. Hargadon, 2011 University of California at Davis)
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P. Gaudenzi The death valley of innovation
DEATH VALLEY 2
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P. Gaudenzi The death valley of innovation
Why we are here at this seminar?
“Life & path of an inno vat ive project in France Or the inno vat ion chain from idea to development”
Communities are increasingly looking to their regional governments and universitiesto implement programs that stimulate the local economy.
This community expectation is especially vocal when regions are trying to overcomean economic downturn (e.g. the post dot-com bust), or stimulate a particularly
promising industry (e.g. nanotechnology).
In response to these heightened outcries, government leaders eagerly assemble a
plan corresponding to taxpayer-derived funding. Leveraging universities is
frequently a key component of this solution.
How to go through or to cross the death valley? What governments can do to
implement the best policies for innovation?
To go where?
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P. Gaudenzi The death valley of innovation
From the death valley to another valley… let us have a look to California
We would like to move from the death valley to… Silicon Valley!
From uncertain venture to successful business and growth!
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P. Gaudenzi The death valley of innovation
FROM HERE: DEATH VALLEY
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P. Gaudenzi The death valley of innovation
SILICON VALLEY
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P. Gaudenzi The death valley of innovation
A field of opportunities for development: finding the valley of success!
The example of MIT and Stanford
Research- and technology-intensive universities, especially via their entrepreneurial
spinoffs, have a dramatic impact on the economies of the United States.
MIT and the Boston area: A direct extrapolation of the underlying survey data booststhe numbers to 25,800 currently active companies founded by MIT alumni thatemploy about 3.3 million people and generate annual world revenues of $2 trillion,producing the equivalent of the eleventh-largest economy in the world.
(source: Entrepreneurial Impact: The Role of MIT, E. B. Roberts and C. EesleyMIT Sloan School of Management, February 2009)
Stanford and the silicon valley : Stanford University has long been known as one ofthe world's leading centers for innovation and a breeding ground for theentrepreneurs who created – and continue to shape – Silicon Valley. The companiesformed by Stanford entrepreneurs generate world revenues of $2.7 trillion annuallyand have created 5.4 million jobs since the 1930s. The equivalent of the world's 10th largest economy.(source Stanford University’s Economic impact via Innovation and
Entrepreneurship, C. Eesley, 2011, Stanford Alumni)
P. E. Auerswald, Lewis M. Branscomb, Valleys of Death and Darwinian Seas: Financing the
Invention to Innovation Transition in the United States, Journal of Technology Transfer, 28,
227 –239, 2003, (Kennedy School of Governement at Harward University)
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P. Gaudenzi The death valley of innovation
Bridging the gap, crossing the desert is the challenge in front of us to the valley
of development.
- The methaphor of the valley of death might frighthen us and discourage to proceedto innovation but on the other side make us aware of the difficulties, the risks, the
threats.
- Also if the figures of MIT and Stanford may be overestimated and seem to be reallyexcessive, they also send a very clear message of opportunity.
It would be maybe good to try to make a measure of the impact of La Sapienza insociety following the same approach, also if the differences are clear in terms of thecontexts, the society, the rules and the role of Universities in Europe versus the American case.
But the point is today that to better exploit the potential of innovation in the
European context and better understand the good models, policies andpractices, like the French ones.
Among other considerations two factors might make this a real opportunity:1. Natural cultural tendency in Italy to entrepreneurship2. Presence of consistent research centers universities a treasure largely
unexploited
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P. Gaudenzi The death valley of innovation
We might have a more optimistic view!
Look at the valley – still a desert – with another approach!
But let us enter the field now… since I promised some comments
from there…
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P. Gaudenzi The death valley of innovation
Let us go through the desert! Let us do start our (ad)venture!
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Università di Roma ―La Sapienza‖ – Dipartimento di Ingegneria Meccanica e Aerospaziale
P. Gaudenzi The death valley of innovation
What I need?
What to take with me?
- Water- Food- Shelter- Adequate suits (hat)
- Map- Binoculars- Way of transportation
- Smart phone (GPS, etc)
- Access to web
My goal/motivation
- Survive- Reach an oasis- Have fun/adventure- Reach the other side
Weakness/threats
Alone or in a team
Duration of the adventure
Information on the environment
Uncertainties
The adventure
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P. Gaudenzi The death valley of innovation
What I need?
- Value proposition- Business plan
- Organization- Financial resources- Human resources
- infrastructures
- Access to information- Communication
- Partnership
My goal/motivation
- Survive- Reach the market- Have revenues- Reach the b/e point: profit
Weakness/threats
Alone or in a team
Duration of the venture
Information on the environment
Uncertainties
The venture
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A Spin-Off Companyof the "Università di Roma La Sapienza"
Smart Structures
Solutions srl
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Università di Roma ―La Sapienza‖ – Dipartimento di Ingegneria Meccanica e Aerospaziale
P. Gaudenzi The death valley of innovation
My company is now right into the valley… Will we survive? Will we reach the valley of our success?
Smart Structures Solutions is a company that works in the field of Structural
Health Monitoring, with the aim of developing innovative solutions formonitoring critical system parameters, based on the integration of local
sensing and space data.
Structural Health Monitoring is an horizontal field, due to the fact that the need
of keeping under monitoring critical mechanical elements is common to many
industrial sectors (Telco & Broadcast, Energy, Oil & Gas, Transportation and so
on) with the purpose of risk reduction and better and lower cost maintenance
activities.
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P. Gaudenzi The death valley of innovation
Smart Structures Solutions has developed know-how in developing andmanufacturing custom-made sensor network solutions and
architectures with experience in the field of Telecom towersmonitoring. (Pictures below from the experimental campaign on
Raiway Tower of Monte Mario)
Environmental
Node
Structural
Node
StructuralNode
EnvironmentalNode
GPSNode
Main node(data collection and TLC)
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P. Gaudenzi The death valley of innovation
Structural Health Monitoring for Telecom Towers
• Project: “Structural Health Monitoring for
Telecom Towers” ARTES 20 (IAP) FeasibilityStudy, ESA Contract Number:4000108290/13/NL/US
• Objectives: – Assessing of the structural integrity of
towers for Radio-TV Broadcasting to
increase safety and to optimize themaintenance procedures.
– promoting the transition from a time-based maintenance to a condition-basedone.
• The key point: – the integration of several existing
technologies such as structural healthmonitoring and wireless sensor networkswith existing space services in order toenhance the proposed service withinnovative capabilities.
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P. Gaudenzi The death valley of innovation
Where are we now? Right into the valley!
Are we well
equipped?Hope so!
1 Value proposition2 Business plan3 Patent deposit
4 Partnership forIndustrializationandCommercialization
Where would we like to be?- In three months from now in Las Vegas at one of
the largest world fair for our candidate market!
- But… With your help!
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Università di Roma “La Sapienza” – Dipartimento di Ingegneria Meccanica e Aerospaziale
The death valley of innovation
The methaphor and some comments from the field
Prof. Paolo Gaudenzi
Dipartimemto di Ingegneria Meccanica e Aerospaziale
“Life & p ath o f an innov ative project in
France
Or the inno vat ion chain from idea to
development”
Rome Feb 3, 2015
Facolta di Ingegenria Civile e Industriale