From lab to launch: working with universities in Montenegro to drive research commercialisation
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In an era where universities are increasingly expected to deliver real-world impact, the ability to commercialise academic research is more important than ever. As part of the EU-funded MONUSEN project — Modernising and Strengthening Social Entrepreneurship in Higher Education Institutions in Montenegro — we have played a leading role in building innovation capacity and entrepreneurial thinking within the region.
We delivered two expert-led workshops at the University of Montenegro focused on the critical themes of Spinout Formation and Business Model Generation.
These sessions formed part of MONUSEN’s broader mission to embed social entrepreneurship and commercialisation into the fabric of higher education institutions across the Western Balkans.
Empowering Researchers to Think Commercially
The sessions were led by:
Luke Judd , Business Development Manager
Rick McCordall, Head of Company Creation
Their sessions were designed to equip researchers and university staff with the tools, frameworks, and confidence to explore the commercial potential of their academic work.
These workshops directly supported MONUSEN’s commercialisation work packages, offering practical, hands-on training that bridged the gap between research and real-world application.
Spin-out Formation: from research to start-up
The morning session, Spin-out Formation, was a deep dive into the process of creating a spin-out company from university research. Participants explored:
the rationale for spinning-out versus licensing
the typical development pathway of a spin-out
strategies for building value and attracting investment
the importance of assembling the right founding team
A highlight of the session was a mock pitch deck exercise, where participants took on the role of investors evaluating a start-up proposal.
This interactive activity helped demystify the investor pitch process and gave attendees a practical understanding of what makes a compelling business case.
The session also emphasised the importance of team dynamics, drawing on real-world examples to illustrate how the right leadership and skill mix can make or break a spinout’s success.
Business Model Generation: Designing for Viability
In the afternoon, attention turned to Business Model Generation. This session introduced participants to the Business Model Canvas, a globally recognised tool for visualising and testing business ideas.
Key elements of the workshop included:
a walkthrough of the Business Model Canvas using a popular coffee brand as a case study
a hands-on session where participants applied the canvas to their own research ideas
peer feedback and collaborative discussion to refine business models
Participants left the session with draft business models for their ideas and a clearer understanding of how to structure, test, and communicate their value propositions.
The session was praised for its accessibility and immediate relevance to researchers at all stages of their innovation journey.
Aligning with MONUSEN’s Vision
Both sessions were closely aligned with MONUSEN’s goal of strengthening innovation ecosystems within Montenegrin higher education.
By focusing on the commercialisation of research, our contribution helped bridge the gap between academia and industry, empowering participants to think entrepreneurially and act strategically.
Feedback from attendees was overwhelmingly positive, with many highlighting the value of the hands-on activities and expressing interest in further training opportunities.
A Model for International Collaboration
Newcastle University’s involvement in the MONUSEN project exemplifies the power of international collaboration in fostering innovation and entrepreneurship.
By sharing expertise and best practices, institutions can collectively raise the bar for research impact and societal contribution.
As Montenegro continues to build its innovation infrastructure, the foundations laid by these expert visits will play a key role in shaping a new generation of academic entrepreneurs.
🔗 Learn more about the MONUSEN project: http://www.monusen.ucg.ac.me
📢 Interested in collaborating on innovation and commercialisation training? Let’s connect.
Article drafted with AI assistance.