The New Mexico Technology Marketplace is an online database of Licensable Technologies. Each of these remains owned by Universities, Laboratories and New Mexican Inventors. We want to talk to industry leaders and find out what their biggest challenges are, and how emerging innovations could help. We are building a database of technologies, sorted by humans, that are targeted to the specific industries that they suit best.
Every technology is given a grade based on an evaluation of its strengths. Is it market ready? Is there a market need? How much time will it take to get to market? How large is the market for this? What percentage of that market could be reasonably estimated to request this? Is this a completely unique idea or is an improvement on an existing one? And lastly, and most importantly, what is the overall coolness of the idea? The goal of this grading process is to place the highest priority to the best and most useful ideas. So when our Technology consumers view the database they see technologies that are specifically relevant to their industry.
It is estimated that as much as 90% of licensable technologies never reach the market. That means that there are some valuable technologies that could have been used but the industry who needed them didn't know the technology existed. The problem is that technology is developing at an extremely fast rate. It is hard for businesses to know everything that is available to them. The annual review of potential technological advancements is no longer fast enough. We know that time is valuable so we won't waste your time. No longer is it necessary to search through databases of patents that have nothing to do with your industry's needs. Now it is possible to spend 5 minutes or less a day knowing if there are beneficial ideas that can benefit your business directly.
The incredibly fast accumulation of technology is actually hurting Universities across the country because they are not benefiting financially. Some universities do not even have the licensable technologies on their website. That means that the connection from innovation to market introduction is broken. Businesses can benefit financially from great ideas. The more that industries are finding technologies quickly, the more money the researchers and inventors have to bring more awesome ideas to the industry.