Fraunhofer Institute for Laser Technology ILTCompanies involved in innovation processes are facing severe risks: “The Valley of Death is used as a metaphor to describe the relative lack of resources and expertise”(Markham, Stephen K., et al. "The valley of death as context for role theory in product innovation." Journal of Product Innovation Management 27.3 (2010): 402) which leave a company vulnerable to failure.
During the early stages of development financial stability is scarce. Unforeseen circumstances can put the company easily into the doldrums or even force it out of business.
Certainly it is a long path from the initial idea to the successful commercialization of the product, which makes it necessary to have strong and reliable partners. LASHARE will provide you with an effective network of competent partners.
In the LASHARE project companies - in form of suppliers and users as well as research partners - have to invest high sums to research on a certain laser technology and develop the idea up to a product. If the product itself is launched the companies will reach their valley of death. From the point the new product is successfully established, the commercialization starts. Consequently, the cumulative profit rises and the companies can skim off their revenues.
