Delivering Solutions for Creating Wealth

WRI Serves as a National Demonstration Site for Innovative Business Partnership

Added July 13th, 2009

The University of Wyoming Research Corporation, or Western Research Institute (WRI) a non-profit research and development (R&D) center in Laramie, Wyoming, is the subject of an innovative business partnership to demonstrate how science and technology developers, including universities, can get their research results and intellectual property into the marketplace.

Western Research Institute (WRI), Manufacturing-Works of Wyoming, and Planet Eureka! of Cincinnati, Ohio, have teamed up to offer technologies developed at WRI on the USA National Innovation Marketplace (NIM).

The National Innovation Marketplace is a kind of internet “matching service” where investors, manufacturers, experts and companies can connect directly with university and small R&D center innovators and inventors. The site is operated by Planet Eureka! and sponsored by the U.S. Department of Commerce and the National Institute of Standards and Technology.

The goal for Manufacturing-Works and Planet Eureka! is to demonstrate how universities and small R&D organizations can use the site to get their valuable technologies, ideas, and products into the realm of business and commerce.

“The process helps WRI establish the monetary value of inventions and exposes our technologies to investors, manufacturers, and companies looking to license new technologies,” said WRI CEO Don Collins. “It gives us greater exposure faster in diverse market segments than we could get on our own.”

Each innovation is listed on the website in the form of a comprehensive yet simple-to-read business simulation report. Anyone can browse the site. A keyword system makes it easy to find a specific type of technology or innovation.

Chavawn Kelley, corporate communications manager for WRI, is working with Barry Bruns and Rick Rothwell of Manufacturing-Works to optimize the Merwyn Business Simulation Reports for WRI. Each report quantifies 1) how much might be sold, 2) the quality of the idea, 3) its level of technology readiness and proprietary protection, and 4) royalty rates that might be expected.

“WRI can also use the reports during our development process to better allocate limited resources on the basis of market potential, product reality, and a profit/volume model that identifies the potential payoff,” said Collins. “Obtaining such quality business value financial information has been a challenge for our researchers in the past.”

According to Collins, the Institute views the National Innovation Marketplace as a low-cost, high-value business analysis and marketing tool. The system is new, having been launched in April 2009. Collins said that Western Research Institute is “excited” to have been invited to support the early development of National Innovation Marketplace. “The collaborative partnership has enhanced our technology transfer skills. WRI is getting ready,” he said, “for when the suitors coming knocking.”

Manufacturing-Works emphasizes Delivering Solutions 4 Creating Wealth in the areas of People, Processes, Products and Performance. Contact us to see how we can help your business.

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