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Cooperative Institute for Research to Operations in Hydrology

Creating a Business Case for Applied Research

Creating a Business Case for Applied Research

Day 3 Session 2 (1:30 AM)

Presenters:

Joel Lisonbee
Elliot Wickham

This workshop will act as an Applied Research Launchpad to take a new research idea and explore how to make it applicable to potential end users. Too often, research that is intended to be applied ends up gathering dust on a shelf. This outcome can be avoided if the research applications, including the measurable impact and value that research will create, are clearly understood before the research begins. This workshop will introduce attendees to business model and value proposition tools that can help transform a research project from simply a clever idea to a business solution that end users are looking for and will use. It will follow the format developed by the Australian Commonwealth Scientific and Industrial Research Organisation to expose participants to the industry research idea pitch, minimum viable products, business models and the value proposition.

Learning Outcomes:

  • Pitch their research project to industry groups,
  • Test if a new research idea will create value for the end user, and
  • Incorporate applied research principles to new research proposals, or
  • Springboard the idea into a spin-off business.

Prerequisites:

  • Participants should come with a new research idea.
    • This idea should be written into a 1-2 page document that outlines what the idea is and the steps to execute it. This is analogous to a Letter of Intent that is required by most research competitions, but it won’t be shared with anyone, so it’s okay if it’s still in pretty rough shape by the time of the conference.
    • The idea can be shared by a group of 2-6 people who will be participating in the workshop together, or be explored by an individual. Groups are encouraged, but not required.
    • Participants will need to bring their own laptop—at least one per group.
  • Participants should be serious about expanding their idea into a potential new research project, but should also be prepared to abandon the idea if it flops (most new business ideas flop, and that’s okay).