New business opportunity wins Grundfos Student Award

Buying and selling technologies across borders

How do you sell your patented technologies to other businesses? And how do you identify possible buyers?

Those questions arose when Grundfos had a technology that was originally designed for cleaning waste water, but which may also be applied in completely different areas such as manufacturing of medicine, clothes and plastic bags.

The challenge is known to many businesses that have developed technologies that turn out to have commercial potential.

Contracting patents out to other industries

In her thesis, former cand.merc.MIB student Zidsel Smedegaard-Meyer has developed a method, which Grundfos may use to identify companies that may benefit from their technology.

Zidsel now has a MSc in Management of Innovation and Business Development, and her thesis has won the Grundfos Student Award.

- Grundfos may contract their patent out to other businesses which in terms of technology match that of Grundfos, but in completely different industries. Consequently, they are not competing businesses, which means that the arrangement benefits the businesses, society as well as Grundfos, which gets new business areas, Zidsel says.

According to Department Head Kurt Vendelbo, president of the Student Award committee, it is that kind of innovative thinking that will make it possible to come up with innovative solutions for new business areas in the future.

About the award

The Grundfos Student Award of DKK 10,000 is given every year to a student who has completed an internship or exam project at Grundfos in exemplary fashion. The award is given to engineering and business students.

To read more about the award, click here