The University of Wyoming Research Corp., or Western Research Institute (WRI), will be one of the first test cases for NIM, which is operated by Planet Eureka! of Cincinnati and sponsored by the U.S. Dept. of Commerce and the National Institute of Standards and Technology.
Connecting WRI with NIM is the result of a partnership between WRI, Manufacturing-Works of Wyoming and Planet Eureka! The goal 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 Web site 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.
"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."
Collins said that Western Research Institute is "excited" to support the early development of National Innovation Marketplace, which he described as a low-cost, high-value business analysis and marketing tool.
"The collaborative partnership has enhanced our technology transfer skills," he said. "WRI is getting ready for when the suitors coming knocking."
On the Web: at www.westernresearch.org/
www.manufacturing-works.com
www.planeteureka.org/marketplace/
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