The Commercialisation PLUS process is unlike other traditional commercialisation approaches as it based on inclusive innovation principles. Looking beyond economic impacts, Commercialisation PLUS also places equal emphasis on the societal and environmental impacts of the product or service. Collectively, this is known as “the Triple Bottom Line” and these three points of consideration tie into the 2030 Agenda and the Sustainable Development Goals (SDGs).
Sustainability is important to address when considering how to move your technology solution forward as there will be some effect on the economy, society, and the environment. Both positive and negative changes are possible so the Triple Bottom Line concept helps to explain how each of these three areas (economic, social, environmental) could be affected by your technology solution.
Commercialisation professionals are encouraged to pay equal attention to each area, and to think about the potential benefits and value (beyond financial gains) that their product could realise if it is launched into the market.
It is important for the Commercialisation PLUS process to innovate sustainably and inclusively. This is what sets us apart!
This image represents the three components of the Triple Bottom Line
The impacts from the commercialisation of products and services generated from science research, can be across all three areas of the Triple Bottom Line: economic, social and environmental. These impacts are generally only seen after research is commercialised (i.e. brought to market) and used by others outside of the research community. Impacts can be positive and negative, or intended and unintended.
It is also important to reflect upon and identify the range of potential benefits, trade-offs and risks that could result from the commercialisation of science and technology. The Commercialisation PLUS process responds to this need.