Academic Innovation Lab

Academic accelerators such as QB3, MITii, and the Oxford Innovation Lab, incubate thousands of life science innovations and technology startups. Through MyCanna Data Intelligence, both investor and budding entrepreneur quickly optimize commercialization of new products. USE CASE
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The Challenge

Because there is a deep and critical connection between scientific research, discovery, and the development of new health-related products, academic institutions have become primary drivers and financiers of the life sciences industry. Academia accelerates these innovations by providing PhD's and entrepreneurs with access to resources, laboratory equipment, and technology that would otherwise be cost-prohibitive to a fledgling company. The hand-off between product innovation and commercialization, however, stymies success, as many institutions don't have a good way to track the ongoing success of innovations, compare success of similar inventions, or determine why one product is more successful than another. Without access to this data, both investor and entrepreneur are often left with great products that never took off - and no idea why.

The Opportunity

All investors seek better ways to make better investments. Academic accelerators, however, have very unique advantages over traditional seed investors like family offices and venture capital firms. First, academic institutions develop and launch so many products they can amass massive datasets from which to extrapolate value-driving information. Second, they have the resources and expertise to run and test hypotheses from large datasets. Third, they tend to be more collaborative than private enterprises and willing to share certain sets of data with each other to further scientific discovery. Most academic incubators understand their unique strengths, they just need a cost-effective way to take advantage of them. 

The Alysida Health Solution

Using the MyCannaTM data intelligence application, QB3 could not only determine which products were most successful, but why those products were successful. The application could achieve unprecedented granularity into the product components, distribution and sales channels, marketing, packaging, and consumer outcomes that made a product a success or failure. Entrepreneurs could then use this data to make informed decisions that improve commercialization efforts. Investors could understand market trends and product success metrics on a deeper level to target investments most likely to succeed.

The Future

Since QB3 and other academic accelerators fund so many new products and companies, they could easily and quickly amass massive datasets. Robust data overlay capabilities within the MyCannaTM technology application would enable QB3 to layer combinations of datasets from which trends and similarities across multiple products and product stages could be extracted to answer a centuries old question scientifically - what exactly is it about a product that makes it a success? Translating that knowledge into tools and education for entrepreneurs, the accelerator could quantitatively drive product development and commercialization.  

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Sector: Product Commercialization

Category: Life Sciences Innovations

Stakeholder: Academic Accelerators & Investors

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Pilot Focus: RESEARCH & DEVELOPMENT

1. Data Intelligence 

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