This is a pilot study to test and develop a number of frameworks, tools and indicators for mapping likelihoods, timescales and the wider potential economic impacts of new technologies.
The project team will develop a series of case studies through interviews and secondary data analysis capturing: (1) the perceived, latent commercial potential of new technologies, according to university-based academics and, (2) market-based assessments from businesses that represent potential adopters, users or co-developers. The case studies will test the perceived commercial value of new technologies and map possible commercialisation pathways.
The first phase of the project involves selecting specific technologies currently in development, in four University-based innovation clusters. Energy Capital / the Tyseley Energy Park, Birmingham Life Sciences Park (data analytics for diagnostics), Quantum Technology (sensors) and the Birmingham Centre for Rail Research and Education (BCCRE; digital systems) are the most likely candidates.
The second phase will develop case studies enabling the mapping of commercialisation pathways for a selected technology from each cluster to gain insights into the potential future economic impacts following adoption and diffusion. Cross-comparisons will reveal relative differences in the kinds of impacts and the timescales, sectors or regions across which these might occur. We are particularly interested in relating these to the targets embedded into the regional Strategic Economic Plans (SEPs) and the Industrial Strategy, including increased productivity, jobs, and/or well-being. The project will aim to provide new tools to support collaborative efforts to improve commercialisation processes and policymakers looking to differentiate between a range of market interventions and investments to improve regional economic growth.