Five things you need to know about Venture Engineering
You did it. You’ve turned your light-bulb moment into a working prototype and you’ve got your sights set on the route to market. But what now?
The challenges of building a business, particularly an engineering-based one, are well documented. What’s less widely discussed is the difficulty that lies beyond the start-up.
Between the eureka moment and successful commercialisation exists a landscape littered with technical and financial challenges. Without the right support, it may seem impossible for even the most promising technology developers to navigate this landscape.
We’re referring, of course, to the so-called ‘Valley of Death’, the figurative wasteland between development and commercialisation where money dries up and time runs out. Engineering, unfortunately, tends to be one of this valley’s most frequent victims.
This is particularly pertinent right now. If we are to sustain human life on Earth, we must develop more sustainable products. There is no shortage of invention, but there is a huge challenge in getting these inventions out of the lab, or the shed, and into production.
It’s easy to see why: highly technical ideas don’t just require cash. They need the right expertise to make them commercially viable, and help them navigate a host of other considerations, such as Intellectual Property (IP) protection, volume production capabilities, regulatory compliance, and customer engagement.
Luckily, there is a solution. It’s called Venture Engineering, and it has the potential to play a pivotal role in driving the success of UK manufacturing, particularly in engineered clean technology and — dare we say it — post-Brexit.
Here’s a quick run-down of the key points you need to know about the next generation of engineering investment:
It goes beyond capital, by adding engineering and commercial know-how into the mix.
Venture Engineering combines funding with technical, manufacturing and market development expertise to successfully commercialise and industrialise the next generation of engineered products.
It emphasises collaboration.
It works with, rather than for, the technology developer. It provides know-how, support, structure and facilities wherever they are needed, and doesn’t shy away from challenges, even if that means re-designing the entire product or changing the target market.
It embraces shared risks and rewards.
Venture Engineering doesn’t take a back seat: it becomes an integral part of the development team, sharing the challenges and successes, as well as the risks and rewards. It also takes a stake in the business, aligning interests between inventors, partners and investors.
It accelerates technologies to market…
Engineering inventors tend to continue ‘gilding the lily’, seeking to perfect their technology rather than focusing on getting it to market. Venture Engineering builds the bridge between inventor and investor and typically gets advanced technologies into production and onto the market up to 50% faster than inventors could achieve on their own.
…but isn’t in it for the quick win.
Venture Capital funds often work to relatively short timescales. Venture Engineering is more patient, embedding itself into a business and becoming an integral part of its development. It expects to make a profit, but it knows this won’t happen overnight. It also offers patient capital that seeks higher rewards in the long term, by backing engineered products that will be solving the world’s problems for decades to come. In other words, it could provide significantly higher returns for those who are prepared to wait.
The concept of Venture Engineering was developed by Productiv, based on our activity at the intersection between Venture Capital and Engineering Service Provision, and we’re already working with multiple technology developers to bring their ideas to market.
Whether you are an inventor or an investor: if you would like to know more, please get in touch.