The Caribbean industrial Research Institute (CARIRI) seeks TIV’s Innovation and Venture Capital Expertise towards the creation of a Business Development Training Program
CARIRI hired TIV to conduct training on technology commercialization and technology scouting/intelligence to leadership/stakeholders/key professionals affiliated with CARIRI. Prior to preparing customized training modules, TIV conducted a survey of trainees who had to assess their current level of understanding of key topics in technology commercialization and technology scouting/intelligence. The survey informed the training program which was implemented in two phases, each comprising several online and in-person classes. The first phase was on technology scouting and the second on technology transfer and commercialization.
TIV’s tailor-made training program was built on the survey results and incorporated case studies from the region and globally, with a particular focus on, inter alia, the significance of the Fourth Industrial Revolution for the Caribbean and how an enabling ecosystem could be established using technology sourcing and intelligence, as well as technology transfer offices. These informative training sessions were held by TIV’s experts and tackled issues such as technology sourcing/intelligence, acquisition for economic diversification, technology forecasting, technology roadmapping, supplier diversification, development of project pipelines, evaluation of projects for viability, technology transfer, time-sequencing and scaling up, innovation financing, and intellectual property. The training included case studies from all over the world covering specific technology licensing examples, operational issues in a Contract Research/Tech Transfer Office. Standard documents such as Material Transfer Agreement, IP Licensing, Term sheets etc. were exhaustively covered. The engagement concluded with the pre-feasibility report for the establishment of a technology intelligence, sourcing and brokerage unit at CARIRI Trinidad and Tobago.
Of note, TIV has a long-standing relationship with CARIRI and also designed a business incubator for CARIRI funded by the UN Financing System for S&T for Development (UNFSSTD) several years ago.