Paul, a researcher from X company, wants to bring an innovative product / service to market which has been proven in the lab to have a TRL level of 5 or more.
Paul contacts InnoEnergy for support. The contact can be made through the InnoEnergy informative sessions on Innovation Projects, or through the contact section of the Investment Round for Innovation Projects website
A project consortium consisting of: The Innovator, the commercialisation partner and the first customer, is created to help in the technology development and commercialisation of the product or service.
The consortium submits a project proposal that fits with the roadmaps of one of our thematic fields. And a team of InnoEnergy experts checks if this proposal is mature enough to be eligible for funding and support.
InnoEnergy accepts the proposal and agrees to invest. InnoEnergy and the consortium sign a project agreement including details about the project scope, budget and work plan. This marks the formal start of the project.
Paul becomes the project manager. From now on, he will be the leader of the project and the main contact between InnoEnergy and the project consortium.
The consortium produces a detailed feasibility study- funded by InnoEnergy which* includes a return on investment proposal.
* The feasibility study shall include all relevant dimensions of the business technology, IP, market regulation, manufacturing, sales and finance.
InnoEnergy accepts the feasibility study and the return on investment, signing the ROI preliminary agreement together with the consortium.
During the project’s duration, Paul attends quarterly assessments meetings to report on the project’s evolution and correct deviations.
At the end of the project, InnoEnergy and the consortium sign a ROI final agreement.
A product / service is launched to the market through a commercialisation party **
** The commercialising party must be part of the project consortium from the start of the project.
InnoEnergy receives the agreed percentage on sales. The amount of revenues received by InnoEnergy is proportional to the amount of sales.
The profits are reinvested in new projects. By doing so, InnoEnergy boosts the development of innovation in sustainable energy field.