In late May, the IC² Institute presented a workshop with the University of Granada, called Practical Technology Commercialization: Converting Technology to Wealth, at the BIC Health Science Technology Park in Granada, Spain. The workshop was part of a Memorandum of Understanding (MOU) between The University of Texas at Austin and the University of Granada. Scientists, entrepreneurs and technology transfer managers gathered to learn about the innovation process and how to manage it: from ideation and deal creation to company capitalization.
About 40 participants formed teams to address the same challenge – to create an innovation that would enhance the solubility of sugar in coffee. Each team was tasked to develop an “idea prototype” Several novel innovations emerged from this exercise. One team delivered the idea for a coffee stirrer available in caramel, sugar, and mocha. When used, the stirring stick would reveal “rewards” that could be redeemed by the vendor.
The workshop helped participants envision the scalability of their innovations and provided an example of how innovations enter international markets.