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Case Study – Clarity Pharmaceuticals

Clarity Pharmaceuticals was formed in 2010 by Dr Matt Harris and Tony Romagnino and , together with Dr Alan Taylor, they have grown this Australian Company to a stage that it now has significant global potential.

Clarity Pharmaceuticals is a personalised medicine company focussed on the treatment of serious disease. The Company is a leader in innovative radio pharmaceuticals, developing targeted therapies for the treatment of cancer and other serious diseases in adults and children.

Clarity utilises its strong imaging capability and proprietary technology to develop novel radio pharmaceuticals. Its story continues to expand and its scale will shortly substantially increase.

Hear the Clarity story in Matt Harris’s own words in my book




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CSIRO and Spin Outs

The CSIRO is Australia’s national scientific research organisation and one of the largest and most diverse organisations of its type in the world. Its research focuses on the biggest challenges facing the nation and the world. The CSIRO is a source of ideas and invention in Australia’s innovation ecosystem.

I had the opportunity to be a CSIRO board member for 10 years and stepped down as the Deputy Chairman in 2016. Their Chief Executive is Dr Larry Marshall, a scientist, technology innovator and business leader. Larry came back to Australia in early 2015 to head up CSIRO after 25 years in the United States.

Over the last century, CSIRO has been the source of so much innovation that it has delivered directly, through technology platforms for industry or through spin out companies.

See the book for great innovation examples and spin out stories.

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The Innovation Ecosystem

Everyone has their own definitions of the two words invention and innovation. In my book the following are my definitions:

Invention is the creation of better or more effective products, services, processes, technologies or ideas.

Innovation is the acceptance of that invention by the market i.e. the invention creates value for which customers will pay.

Moving inventions through to the commercial benefit of becoming an innovation requires a whole community of contributors. Some very large corporations can contain that community of contributors within the one organisation and continue to grow their business through continual innovation. They have a contained innovation ecosystem and it can be very effective. These contained ecosystems are well worth studying, but they only explain some of the innovation spectrum.

Most innovation ecosystems go across many contributors to help commercialise ideas or inventions. The diagram above gives a notional overview of the categories of players and their contributions to innovation success. All of these groups play a vital role in the ecosystem. The relative importance depends on the nature of the invention and its’ stage of development.

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Case Study – Swoop Analytics

SWOOP Analytics was formed in 2014 by Laurence Lock Lee and Cai and Marianne Kjaer. It is an Australian company based in Sydney with people on the ground in the UK and US. By analysing data from a variety of sources they provide employees and management with unique insights to make informed and evidence-based decisions about collaboration and the health of their social networks.

SWOOP is the result of more than 10 years of consulting experience in mapping organisational networks. Based on more than 100 projects they have identified the most compelling and valuable metrics that help organisations drive collaborative business performance.

My book has the SWOOP story in Laurence Lock Lee’s own words

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How to pitch your idea

In my experience, there are many approaches you can use to convince investors, but a clear, logical, defendable approach is the best. Here are what I think are the essential elements of your pitch, which I describe in more detail in my book:

  • Your team and idea
  • The target market
  • The market gap
  • Your solution
  • Your value proposition
  • Your business model
  • Your business plan and timeframe
  • The pre-value and investment needed
  • The capital plan
  • The exit strategy.