The Directed Research pipeline process is designed to be flexible and may vary from technology to technology, depending on the approach that we believe can best unlock key technical breakthroughs. However, it is likely that the following elements would be undertaken in most cases:
1a. Selection of technology area: which prospective low carbon technology is most likely to benefit from a directed research intervention at the current time?
1b. Identification of topic: which specific innovation gap within the selected technology could be best addressed by a Carbon Trust directed research project?
2. Solicitation of proposals: we will run a public competition for partners to work with the Carbon Trust to resolve the innovation gap. Partnerships could involve a combination of the private sector – including both small and medium sized enterprises ("SMEs") and larger businesses - and universities and other research establishments.
3. Evaluation of proposals: we will bring internal and world-class external expertise to bear on assessing the merits of the proposals. Assessment criteria will usually include the following: degree of innovation; carbon saving potential; evidence of insufficient current investment (“additionality”); potential for results to contribute economic value in the UK; and strength of consortium research capability relative to the rest of the world.
4. Negotiate commercial terms: the successful bidder will then agree commercial terms with us on the principle that there should be a mechanism for the Carbon Trust to make a return on its investment, should the project be successful. While this means that the Carbon Trust expects to be able to share in any upside from the project, it also means that we will take a fair share of the risk.
5. Project work: the Carbon Trust will remain actively involved in the research work, and in some cases, investment will be staged and dependent on achievement of pre-agreed milestones. We may also add additional value through our innovation, investment and policy network and through project marketing by association with our brand.
6. Exploitation: a key feature of Directed Research will be the establishment of flexible commercial structures to enable a seamless transition from research to commercial exploitation of the results. We will actively develop relationships with key partners during the projects to ensure the commercial relevance and scientific excellence of the outcomes.
|