The world is sitting on assets worth trillions of dollars. Well we can’t actually sit on them since they aren’t tangible like a chair. Many of these assets come in the form of technology that can not be sold or are just simply underutilized.
Research labs, corporate innovation centers, individual researchers, inventors and others produce numerous ideas, concepts, and quality data every single day. We often see much of valuable early-stage research go undeveloped and discovery of breakthrough methods slow down. Unfortunately, most of these innovations die or go into the backlog before reaching commercialization or just aren’t developed and tested further.
Valley of Death
The phase between discovery and commercialization of a technology is called the valley of death. The crossing of the valley of death in innovation results in the loss of a massive 90% of potential technologies. The thing is, not all of the technologies perish because they aren’t good enough.
Some projects can’t find funding, some can’t get backing from internal stakeholders, and others may just not align with the direction of the project at that moment in time.
But with advances in Web 3.0 technologies comes a welcome sanctuary on the successful passage to commercialization.
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