This is in reference to the discussion during office hours today at TC disrupt. The exchange was something like.<p>PG: So this is commercialized research?<p>Entrepreneur: Yes<p>PG: Ouch!<p>I am currently flirting with academic research that I believe has commercial potential, but a solid market has not been identified yet.<p>I think academic research often inspires commercial endeavors. Is the issue in this case just that a business is actually being pursued before a customer who cares has been identified?
Medical device research at my school (university of utah) is huge business. Every year research at our school is commercialized and it starts 10's of new businesses and generates billions in revenue. In fact a little know secret is that the University of Utah is second to only MIT in research commercialized. We also do it with about the 1/10th of the budget! So look for funding from a technology commercialization office if you want to do something like that. <a href="http://www.tco.utah.edu/" rel="nofollow">http://www.tco.utah.edu/</a>
Why do you believe it has commercial potential if a market has not been identified yet?<p>If an activity is being pursued before an interested customer has been identified, I'd have a hard time calling that activity a 'business'.<p>That does not mean it is a waste of time. If it is an activity that creates value, as you seem to think it is, it is probably worth perusing, perhaps even worth monetizing but don't get ahead of yourself or place an irrecoverable bet on mere hope.