17 Oct Lab Continues Work with Fraunhofer and New Jersey Innovation Institute
For the past three years, we have been working with the New Jersey Innovation Institute (NJII) to pilot innovation and technology management frameworks in the U.S. market. The models, developed by Fraunhofer IAO, have been successfully deployed in Germany but have yet to be translated into the U.S. context.
In this video, Don Sebastian, head of NJII, explains how we are bringing Fraunhofer tools and frameworks to New Jersey:
The Lab has focused on two major tools developed by Fraunhofer: MarketExplorer and TechnologyRadar. the first tool explores new markets for technologies. The second focuses on identifying technologies that can create value in markets. The graphic below explains. Technologies (left side) are rapidly evolving and converging. Markets are slower to evolve, but they, too, represent dynamic systems. Between technology development and market development sits an opaque boundary which is difficult to see through. The Fraunhofer tools enable managers to work quickly pierce the boundary.
We tested both of these tools successfully with Lockheed in New Jersey. We are now working with other companies in collaboration with NJII and Fraunhofer. Our latest project involves a 40 employee small manufacturing company that specializes in machining stainless steel fittings.