One of the challenges facing technology commercialization is acquiring the appropriate set of skills and resources for transforming a technical concept into a product or service that customers purchase. An effective method for doing this is to initiate and manage technology commercialization projects in which each project consists of four main components:
- Innovative tech-based product, service, or process. These range from breakthrough ideas to product platform extensions.
- Appropriate multi-disciplinary people skills for managing the project.
- Business development resources for creating the optimal business model.
- Investment capital for funding the various stages of development.
The Turner Center’s approach is to participate in various projects in which each project consists of the four components and also involves one or more companies with interest in commercialization. These companies include entrepreneurs, emerging tech companies, and mature tech companies. The Center’s role is defined by the unique domain of each project. Our Center frequently accesses Bradley faculty, staff, students, intellectual property, and facilities to assist in developing and supporting projects.
There are many types of technology commercialization projects. The Turner Center is focused on pursuing projects that:
- Target areas of innovation that have potential for global impact and also leverage technology and business resources located in Central Illinois. These include areas such as: advanced engineering and manufacturing, human life sciences, and bio-refining.
- Include start-ups, emerging tech companies, and mature tech companies.
- Represent various stages of development, potential returns on investment, and risks. These projects include early stage innovation assessments, R&D, proof-of-concept, prototypes, and product extensions.
- Collectively provide for a portfolio of technology commercialization projects representing different technologies, types of companies, and stages of development.