As MONDRAGON Corporation we are leading the exploitation process of the CircThread project.
And you may think, what´s exploitation? Well exploitation is the utilization of the project results in further activities other than those covered by the concerned project. And how can the results be furthered used? The CircThread results can be used in further research activities, or developing, creating, and marketing a product or process, or creating and providing a service, or even in standardization activities and policy recommendations.
Let me give you an example of what the exploitation process is in an innovation project.
Imagine that my technology centre and your company are working on creating a new sustainable material for home appliances. I, as a scientist, have knowledge on how to create and produce the sustainable material, and you, as industry, have the capacity to sell the sustainable material as part of your home appliance and get profit of it. The new material created can be introduced in your home appliances, and you will pay me for the creation and production of the material, and you will sell a sustainable home appliance. A win-win situation for both of us.
The exploitation process will help me, the technology centre, to understand the better way to selling you the material, as a product, a service or licensing the formula for you to produce it.
Let go back to the reality, now that you understand what exploitation is.
Thus we, MONDRAGON Corporation, are identifying, characterizing and helping CircThread partners to find the best way to use or sell the results after the termination of the project.
And how are we doing it?
Well, in 2017 we created an exploitation methodology denominated MONDREX, with a step-by-step process for the partners to follow and work with us along the way. It is an iterative and effectual process that evaluates the results with possible customers before going out to market, and fully understand if the results accomplish the customer needs.
The main objective of the exploitation process and the MONDREX methodology is to make use of the results for societal, scientific, financial, or even political purposes.
MONDREX methodology is divided into three main blocks:
1. Take-up of the Exploitation Process,
2. Validation and
3. Adopt and Adapt.
Each block feeds the next and previous one with information to create a clear and accurate business model of the result. Check out the three main blocks in the image below.
To be more specific, MONDREX aims to develop a complete business plan, market entry mechanisms and protection suggestions for the exploitable results. Innovative business models and new forms of finance that add to the European funding received for the project.
This is where CircThread comes in
The concrete goals of the exploitation process in the CircThread project are:
- Capture and develop a series of fundable business and governance models to ensure that the measures delivered can become sustainable, financially viable and scalable if it´s the purpose.
- Raise paths and mechanisms on exploitation possibilities and exploitation planning. Setting up roadmaps for the long-term sustainability of the project results.
- Explore solutions and actions, anticipating possible conflicts for successful exploitation.
- Create value out of the novel knowledge (recognising exploitable results, creating revenues, improving skills, standardization, or patenting, finding pathways for future work).
- Create value out of the possible customers, identifying key stakeholders, market agents, and potential investors, presenting a minimum viable product and introducing the stakeholders’ revenues in the exploitation plan and business models.
What stage are we now in the MONDREX methodology?
After one year of CircThread´s development, we already accomplished the market analysis and charaterisation of all the exploitable results of the project. Now we need to start working hand-by-hand with the owners of the key exploitable results for the creation of the business models.
Check out the Business Model Canvas template we are going to use, courtesy of Strategyzer.