What technology/solution areas do you have a primary interest in?
The technology/solution areas of primary interest are as follows:
• Energy management & distribution
• Energy storage & conversion
• Renewable & hydrogen-based energy
• Environmental, water & waste
• Advanced materials & chemicals
• Electronics, sensors & communications
What level of commercial maturity do you typically look for when making an investment?
Assuming the well-known DoE/NASA-defined Technology Readiness Levels (TRL) as reference, we look for developments that are at TRL 5 when the component or device is validated in a relevant environment. However, depending on the importance of the technology, we also consider an investment at level 4 with a lab validation.
Please describe your firm’s Innovation model and how this model helps to find new innovations.
At Ingersoll Rand, our innovation model is built on 3 major principles:
• Balance Control and Creativity - Our process creates dedicated themes and environments for exploring and learning with defined scope and deliverables, resources, and timeline.
• Iterative Hypothesis Testing – We formulate hypotheses of identified opportunities, test the key uncertainties, and then continuously refine our assumptions based on the results in an iterative process.
• Experimentation – We experiment with new technologies through various readiness levels. We are not shy to try new things.
Why work with TechConnect and the National Innovation Summit as a technology and early stage company prospector? Who are you looking to meet with?
TechConnect presents the right forum for exchanging ideas on technologies at different maturity levels. It allows meeting inventors and technologists with early value creation for new business opportunities.
We look to meet technology vendors in the solution areas mentioned in 1, represented by start-ups in various stages of development (from concept to commercial product), tech corporations, national labs and universities – both formally and informally.
What advice would you give to technology companies looking to work with larger organizations, like Ingersoll Rand?
Come to us with proven ideas that are ready for commercialization. They should have gone through some technology feasibility vetting, with partnering with larger companies in mind.
What technology trends do you personally follow?
Personally, the trends I follow are listed below as they are likely to change our world in a not so distant future:
• Sustainability and Energy Efficiency
• The Internet of Things
• Cyber Security
• Product Architecture
• Big Data
• Additive Manufacturing