Technology Driven Market Intelligence - A Pathway To New Markets
Inventwood LLC
The Client:
InventWood is a small Maryland-based manufacturer that traces its roots to a team of material scientists at the University of Maryland following breakthrough developments with wood materials. Led by Professor Liangbing Hu the team soon realized the value of these technologies after receiving substantial interest from organizations and individuals around the world. InventWood was created to make those discoveries a reality.
InventWood is committed to transforming the world by developing cellulose-based materials that are high-quality, cost-effective, and environmentally-sustainable. The company has developed several proprietary technologies that offer superior alternatives to the most commonly-used materials today while providing solutions to some of the world’s most intractable environmental challenges. Their MettleWood product is a cellulose-based product with the strength properties of steel. This product has the ability to be used in numerous applications and industries.
The Challenge:
With the MettleWood product in the final stages of laboratory testing, Inventwood sought the assistance of Maryland MEP, part of the MEP National Network™, to help define market opportunities, identify commercial applications and assist in the process of quantifying these opportunities for further development.
The Solution:
Maryland MEP delivered the proven Technology-Driven Market Intelligence (TDMI) approach to help InventWood begin the process of commercializing these products in the most cost efficient and effective manner. MD MEP, in partnership with RTI International, conducted the TDMI project which included further evaluation of technology capabilities, assessment of organizational need and the implementation of a systematic approach to evaluate market opportunity. Further, the team conducted market research, stakeholder interviews and customer outreach to assist in the overall process.
Results & Impacts:
- $100,000 in Cost Savings
- MettleWood Product to Market
The TDMI process delivered by Maryland MEP and the team at RTI really helped us evaluate our current commercial opportunities and select the most promising applications for our materials using a thoughtful process and comprehensive framework. Their support was incredibly valuable, and InventWood benefitted greatly from the partnership with Maryland MEP.
