Presentation on the importance of commercialisation, the VITALISE Innovation and Commercialisation Monitoring System, the EU Innovation Radar Platform, the KTH Innovation Readiness Model, and the case study of HearArt Technologies in the commercialisation process.

1. This project has received funding from European
Union’s Horizon 2020 Research and Innovation
Programme under Grant Agreement No 101007990.
Virtual health and Wellbeing Living Lab Infrastructure
Vitalise Bootcamp
anthologyventures.com
Anthology Ventures
SUMMER SCHOOL 2023
Commercialization Bootcamp
June 6-7, Bilbao

2. Why is
Commercialisation
important?
§ For many researchers, the overall
goal is to make an impact through
knowledge
– How? …By setting up a business or partner
with a company to exploit research outcomes
moving research results from the laboratory
into new or improved products and services
§ Commercialisation activities can be a
powerful way to enhance and sustain
research impact after funding ends.
– While creating a positive impact in the region’s
economy.
§ Positively distinguish yourself and
your work from peers
– While achieving widespread, sustainable,
positive impact on society.
2

3. But here you may
ask….
“How will I know if I am on the right track
for successfully launching a new
product into the market?”
3

4. VITALISE Innovation and Commercialization Monitoring System
Innovation Radar
identifies high potential innovations and innovators
4
KTH Innovation Readiness ModelTM
guides idea development and assesses idea status
https://www.innoradar.eu/ https://kthinnovationreadinesslevel.com/

5. The Innovation Radar
The Innovation Potential Indicator The Innovator’s Capacity Indicator
5
Innovation
Potential Indicator
(IPI)
Market Potential
Indicator (MPI)
33.3%
Innovation Management
Indicator (IMI)
33.33%
Innovation Readiness
Indicator (IRI)
33.33%
Innovator’s Ability
Indicator (IAI)
50 %
Innovator’s Environment
Indicator (IEI)
50 %
Innovator’s
Capacity Indicator
(ICI)

6. The EU Innovation Radar Platform
6
• Diverse services focused on guiding
startups towards market and investor
readiness.
• Help promising innovations secure funding
needed for their future commercialization.
https://www.innoradar.eu/

7. The KTH Innovation Readiness ModelTM
§ Assess the maturity of an idea
on a scale from 1-9 in seven key
areas of innovation development
§ In each area, clear definitions
of the different readiness levels
(RLs) are provided along with
milestones and activities that
define each level.
§ An RL >4 in all seven areas,
means that the project’s main
focus should support commercial
development
7
The KTH tool is
available under a
Creative Common's
license.

8. The KTH Innovation Readiness Model
Readiness Levels 5-9
§ CRL - establishing customer relationships or
conducting pilots
§ TRL - conducting field or user tests of more advanced
prototypes
§ BRL - define and test a business model, including a
revenue model
§ IPRL - secure and develop complementing forms of
IPR according to the adapted strategy
§ TMRL - continue to build the team and include other
entrepreneurs
§ FRL - prepare pitching materials for securing funding
§ SRL - The sustainability strategy contributes to
competitiveness and revenue growth and makes a
proven contribution to relevant parts of the UN’s
sustainable development goals
8
Readiness Levels 1-4
§ Customer RL - Understanding your
customers/users.
§ Technology RL – Solution is validated in lab
environment
§ Business RL – Describing your sustainable
business model in increasing level of detail
§ Intellectual Property RL - Identifying, describing,
and assessing the potential to protect your IPR
§ TeaM RL - The initial team to verify and develop the
potential of the idea
§ Fundraising RL – Primary focus on funding to verify
and develop the potential of the idea so that you
can identify a viable business model.
§ Sustainability RL - sustainability concept
embedded and tested to customer

9. § For researchers: How many of you
are implementing a research
project at the moment? Where
does your research project stand in
the different areas i.e. 1-4 or 5-9?
§ For LLs: From your past experience
in projects, where does your
activity focus in terms of supporting
commercialisation and where do
most of your project stand (1-4 or
5-9)?
The KTH DashBoard adapted within VITALISE
9
Food for Thought:

10. HearArt Technologies
Applying the commercialization process
A University Spin-off Case Study
10
https://us02web.zoom.us/j/86953857895?pwd=YkxZbEpxdHVsNjZOVllrS0Y2bEhYZz09

11. HearArt Technologies & Commercialization
§ About HearArtTec
§ Problems they address
§ Solution they offer
§ Conceptual framework
§ How it works
§ Applying the KTH
assessment grid +
conclusions
§ Q&A with Bootcamp
participants
11

12. About HearArt Technologies
§ Aristotle University of Thessaloniki (AUTh)
§ 3 Principle Co-founders: 2 Faculty + 1 Entrepreneur
§ May 2020: Spun-off from AUTh
§ February 2022: Co-creation agreement signed with external
providers for tech development
12

13. The market dominated by major producers of acoustic devices

14. Hearing Devices Sold
10-20%
2.2 MM
2.2 Bil.€

15. 15
Aging Population: Increases Market Size
Standards for Quality of Life: Improves adoption rates,
changes demographics
Health Benefit Programs: Improves adoption rates
Perceptions on Hearing Devices: Improves adoption rates,
changes demographics
R&D: Increases adoption, provides more options to users
Main Market Drivers

16. A hearing aid User (customer) will make an average of 2,5 visits
after purchase to tune the device
The hearing aid User (customer) will make up to 20 visits during
the life-time of a hearing aid device to adjust it with increasing
hearing loos or maximize its efficiency
The visits to a hearing Retailer are NOT paid.
Hearing Aids Users and Hearing
Aids Retailers Interaction

17. The problems with hearing aids
and hearing implants (prosthetics):
§ Consumer Dissatisfaction:
ü Poor performance of acoustic devices (sub-optimal hearing);
ü Discomfort and inconvenience (ill-fitting)
§ Retailer Burden:
ü Consumer troubles (above) lead to recurring visits in attempt
to improve their conditions;
ü Repeat visits are unpaid; and take lots of staff resources/time
17

18. The HearArtTec Solution
§ HW/SW combination
§ AI-based approach:
• hearing assessment,
• precise fitting of acoustic devices,
• auditory training & rehabilitation.
§ Allows users of hearing-assistive prosthetics (aids and implants)
to reach the full potential of their hearing
18

19. HearArtTec: conceptual framework
1. Generate profile of individual's hearing needs;
2. Repetitive AFT Cycle (Assessment – Fitting – Training);
3. Specially designed algorithms optimize the performance of any
listening device (regardless of manufacturer);
4. Users have true acoustic improvement to the impaired auditory
system, and devices finally perform to satisfaction.
19

20. HearArtTec: how it works
§ Smart Assessment
ü Specialized, proprietary tests (many go far beyond clinical praxis);
ü Information is optimized in real-time to ensure accurate audiological profile;
ü Testing time is kept to a minimum.
§ Device fine-tuning
ü Fitting technique uses novel mathematical and biophysiological frameworks;
ü Data analysis and AI decision-making create optimal maps for user’s device.
§ Aural Music Training
ü AI systems re-train and sharpen users’ hearing;
§ Individualized audio material
ü Customized for each patient's auditory profile, listening preferences, and hearing device.
20

21. YES YES
YES YES
CREATE VALUE
Acoologists – HA/HI Retailers:
Add revenue stream
Speech Therapists: adding
revenue stream
INCREASE VALUE
HA/HI producers: Make their
clients happier
HA/HI retailers: make their
clients happier
ELININATE COSTS
DECREASE COSTS
HA/HI retailers: Decrease free
fitting - tuning visits
Hear Art Tech delivers unprecedented optimization of HA/HI devices and
revenues to existing intermediaries of the value chain
HA/HI retailers: Eliminate cost
of reassessment
Business Model: B2B2C

22. • Complete Clinical Tests
• Complete MVP
• Establish working/cofounder relationship with Partners
in Market Launch
• Engage with Early Adopters
Short-term objectives

23. Startup Plan:
• Cash Flow Positive: Y3 (Based on 5yr Financial Plan)
• Hockey Stick Growth
• Revenue >12M euros Y5
• Exit Y5 after MVP Launch
Business & Financial
objectives

24. KTH – IRL for Hear Art Tech
0
1
2
3
4
5
6
CRL
TRL
BRL
IPRL
TmRL
FRL
SRL
SCRL
LRL
HEAR ART TECH
CRL 2
TRL 6
BRL 4
IPRL 3
TmRL 5
FRL 2
SRL 2
SCRL 2
LRL 2

25. This project has received funding from European Union’s Horizon 2020 Research and Innovation Programme under Grant Agreement No 101007990.
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Adriane Thrash
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at@anthologyventures.com