How to Turn Academic Ideas into Marketable Products?
 

Introduction:
Universities are fertile grounds for the emergence of innovative ideas in science and technology. However, transforming these academic innovations into real-world products that can compete in the market requires a clear and structured pathway. This article outlines three essential steps for converting academic ideas into market-ready products, with a focus on the health and herbal medicine sectors.
 

1. Building a Specialized Team:
One of the most critical steps in moving from idea to market is assembling a team with complementary expertise. A strong team may include a scientific researcher, a marketing expert, a business developer, and a legal advisor. A well-rounded team increases the chances of successful product development and makes the project more attractive to investors.

2. Technical and Economic Feasibility Assessment:
While many ideas may seem promising, not all are technically or economically viable. The next step is to evaluate the technical feasibility by developing a prototype, conducting laboratory testing, and assessing scalability. At the same time, it is essential to study the target market, analyze competitors, estimate costs, and project revenue to determine whether the idea is investment-worthy.

3. Securing Funding and Step-by-Step Development:
Accelerators, venture capital funds, and governmental grants can provide initial funding. Once early-stage investment is secured, a product development roadmap should be implemented in phases: pilot production, regulatory approvals, business model design, market entry testing, and ultimately full-scale commercialization.
 

Conclusion:
Transforming an academic idea into a marketable product is not achievable through research alone. Success requires collaboration among academia, industry, financial institutions, and innovation hubs. With careful planning, a skilled team, and the right support infrastructure, scientific ideas can evolve into thriving commercial products.