Whether planning for the commercialization of a new product or trying to get the most out of an existing material, our clients are always scanning for new and inventive applications for their technologies. Through our work on hundreds of innovation-related projects over the past two decades, Newry has developed world-class tools and processes for identifying and capturing growth opportunities.
“Big firms aren’t as good as Newry at highly technical opportunity identification… I’ve never seen anybody provide analysis like this.”
— Senior Vice President, Global Manufacturing Firm
We identified over $750 million in potential revenue from new opportunities for a mature polymer business
An advanced materials company was experiencing slowing growth, and feared decline. Multiple internal and external efforts to find new applications had met with little success. They asked Newry to help them find 10 to 20 promising opportunities for the technology, worth at least $20 million each, for a total of $400 million in potential near-term revenue. We began by using a highly iterative exploration and prioritization process to select domains and identify applications within those domains. We built out a database of more than 600 applications, 232 of which were in our client’s preferred industries and a good fit for our client’s technology. We further prioritized those opportunities based on our client’s feedback, and profiled the top 20 in terms of opportunity size, nature and importance of unmet needs, incumbent materials and competitors, and potential customers and related applications. Altogether, we identified over $750 million in potential near-term revenue opportunities, nearly doubling our client’s initial goal. Thanks to our contribution, our client is currently pursuing major opportunities with multiple new customers.