THE FUTURE OF TODAY'S BUSINESSES IS LINKED TO TOMORROW'S TECHNOLOGY
The key factor for business survival, strategic development and competitive edge quest translates into two words: CONTINUOUS INNOVATION.
The ability of a business organization to adapt to scientific innovations and emerging technologies is vital, and likewise the legal implications of this evolution are critical.
P&S Legal has focused its expertise in the field of technology law within the four major areas of Science, enclosed in the indicative acronym of Emerging and Converging Technologies: NBIC.
N= Nanotechnologies and Nanosciences
B- Biotechnology and Life Sciences
I= Information and Communication Technology and Sciences
C= Cognitive Neuroscience (Neurotechnologies)
NBIC technologies have revealed an extraordinary potential for knowledge harmonization, capable of overcoming its fragmentation across the individual sciences, in favour of a transdisciplinary approach, thus delivering a truly comprehensive knowledge of reality.
On the Life Science front, despite the fact that the use of technologies is now a consolidated achievement in medicine, especially in the field of research, the real new frontier is their synergistic convergence, which has allowed new achievements in both medical research and clinical practice, posing ethical dilemmas (Bioethics), socio-economic implications (Bioeconomy) and legally relevant issues, unprecedented compared to the past (Biolaw).
P&S Legal professionals boast extensive cross-cutting know-how, both in the legal and technical-scientific fields, which enables them to understand all the complexities, risks and opportunities of the industry, notably when it comes to companies in the deep tech niche segment.
TECHNOLOGY LAW AND EMERGING TECHNOLOGIES
By way of example, these are some of the areas of emerging and converging sciences and technologies, Key Enabling Technologies (KETs) addressed by P&S, where we provide technical and legal consultancy, strategic management support and training:
CYBER-LAW, INFO-TECHNOLOGIES, NEUROTECHNOLOGIES
- Data Protection & Data Governance
- Cyber Security
- Computer Crimes
- ICT Contracts
- Web Reputation & Brand Management
- Blockchain & Smart Contract
- Technology Transfer
- Technology and labour law
- Cloud services
- Internet of Things
- Quantum computing
- Mixed Reality / Augmented Reality / Virtual Reality
- Educational Technology
- Incident response
- Robotics and Automation
- Artificial Intelligence and Machine Learning
- Neural networks
- Brain-computer interfaces
- Wearables , Implantables
NANOTECHNOLOGIES AND BIOTECHNOLOGIES
ADVANCED MANUFACTURING SYSTEMS
EMERGING FRONTIER TECHNOLOGIES AND LEGAL FUTURES STUDIES
We offer legal support and risk analysis related to R&D (research and development) of frontier fields of technology and science, including the economic, social and environmental impacts of:
- Big Data
- Robotics and Automation
- Artificial Intelligence, Machine Learning
- Nanotech & Biotech
- High-Tech Healthcare
- Smart City & Smart Countryside, Urban Resilience
- Additives Manufacturing
- Aerospace, Spacetech
- Drones & UAVs
- Precision Medicine
- Life Sciences
Most of today’s tech companies and start-ups are based on:
A) Innovation of the business model
B) Offline-Online transition of a traditional business model, using existing technology.
Deep tech companies on the contrary:
1- Are grounded on scientific discoveries and tangible engineering innovations (breakthrough/radical innovation)
2- Mission: trying to solve great global challenges
3- Long-term positive externalizations for humanity
4- Breakthrough innovation with multi-market effects
5-Hidden value: deep tech deal flow is limited to a niche of operators
6-High financial risk: Long delays in the feedback loop
(Investor → capital → startup → value → market → profits → payback → Investor)
7-Impressive economic value for early investors in case of success.
Typical Deep Tech fields are Life Sciences, agrifood, cleantech, Ict, advanced materials and manufacturing, medtech, spacetech, bio/nanotech.
Deep-tech innovations stand at the crossroads of huge changes in demand, driven on the one hand by megatrends and global challenges (such as climate change, demographic changes, resource scarcity, population ageing, social problems) and techno-scientific progress on the other, with cross-cutting and spill-over consequences for virtually any industry.
Over the past decade, a dramatic flood of platform-based and digital app-based innovation has emerged, turning it into a synonym for the tech industry.
On the contrary, investors and deeper technology explorers are instead on a quest for the forthcoming stream of deep tech innovations, which are driving the fourth and much likely the upcoming industrial revolutions to come.
Deep tech companies have a strong research base.
They create value by developing new solutions, not only by disrupting current business models.
As Deep Tech companies move the tech frontier forward, they have to address unprecedented challenges in business strategy and development:
- Long time-to-market (new technology requires lengthy developement timeframes)
- High capital intensity, due to the aforementioned extended product development periods and costly infrastructures:
– Experimentation and prototyping typically rely on expensive and unique hardware (e.g. a DNA sequencing machine) that becomes redundant later on throughout development and scaling phases.
– Testing and Scaling are far more pricey for the development of hardware as compared to software products.
- Technological risk and complexity: in many cases the Technology Readiness Level is fairly low (TRL = NASA’s original measurement system for assessing the level of maturity of a particular technology).
- Commercial applications still waiting to be explored
- Slower and costlier lift-off (compared to digital startups):
-Strong research base
-Large investment needs
-Commercial application yet to be defined (e.g. blockchain was conceived as a technological solution for Bitcoin, then cross-innovated for new markets, new solutions that were not originally envisioned by its creators).
The role of consultants such as Knowledge Broker and Innovation Manager is fundamental:
they work through recombination and manipulation of acquired knowledge, in addition to understanding the underlying social structures, in order to innovate by proposing new solutions (cross-innovation, cross-fertilization).
Cross-innovation is the transfer of existing technologies, systems, concepts or general principles from one domain to another, in order to solve problems or answer questions experienced in that domain.
This can be done through technologies, patents, know-how and business models.
Cross-innovation is a specific form of open innovation, which means that to take advantage of this approach companies need to reconsider their innovation processes to ensure that both internal and external ideas are taken into account in the development of new products, services and processes.
The flaming passion for Science, Emerging Technologies and the study of the adaptations of Law and Economics to their advancements, make our professionals genuine transdisciplinary experts, which together with our engineering team constitutes a fundamental guide to lead Companies, Public Administrations, Research Bodies and Policy Makers in the extraordinary journey of innovation and change.
Go to the contact page for any information you may need about our assistance and training services!