Vicky Kell, Director of Innovation, Research and Development
Research and development: the commercial opportunity
Investing in research and development (R&D) is not just about innovating products or processes, it is also a way to open your business to new markets and new customers.
Businesses can develop new technologies, services or processes through R&D, which can then help access new markets or customers.
This process is known as commercialising R&D. It allows businesses to remain competitive in the marketplace and earn a financial return on research.
Below, we examine two businesses from Northern Ireland that have successfully commercialised R&D to access new markets.
Allsop Intelligent Software
Based in Belfast, Allsop Software uses artificial intelligence (AI) to deliver custom-built software-as-a-service (SaaS) that reduces time spent on data entry and therefore enhances productivity.
The research
Allsop wanted to develop software that would act as a conduit between trade services and customers. The company applied for an R&D grant from Invest NI to explore the concept. During the R&D project, Allsop developed a matching technology that matches and checks prices across products in the food service sector.
Allsop identified a further opportunity to expand its potential client base by developing a voice-bot to assist the completion of recruitment application forms. Allsop wanted to attract customers with a multi-lingual workforce, where a voice-bot would help improve recruiting processes.
Invest NI supported Allsop with an R&D grant in 2023 to develop and test voice-bot capability for its SaaS.
The result
Allsop had the R&D mindset that even if the original concept was not commercially viable, the technology, knowledge and capability developed could be repurposed.
Allsop’s trade services platform did not gain traction, however, the matching technology it created during the R&D is now embedded within its product suite. This has added a unique capability to its order automation software.
Similarly, the voice bot project revealed a pathway for embedding voice and natural language processing into other Allsop products, resulting in a follow-up R&D project for the company. Both R&D projects created measurable commercial value for Allsop by enhancing the service offering through unique product capabilities. In September 2024, the company announced a new contract worth over £300,000 with a leading European grocery distributor to integrate its Process Automation Software into the distributor’s operations.
Earlier this year Allsop secured a new contract worth £1.2 million with another leading European food distributor to integrate a dynamic pricing module into the distributor’s operations to help stay competitive.
Commenting on Allsop’s R&D success, Ian Topping, Director at Allsop, said: “Investing in R&D has been a pivotal part of our growth over the last three years. With the help of Invest NI, we have been able to develop software which has given us an edge over our competitors to break into new markets and secure new customers in the food, manufacturing and construction sectors.
“We have also been able to secure new sales in Great Britain and the Republic of Ireland with our software, which helps companies to streamline administrative tasks, save time, reduce costs and increase efficiency.”
LoweConex
LoweConex, based in Lisburn, is a software and services business that helps high street brands manage large estates. Conex OS, its centralised data platform, helps clients observe, automate, and control critical building assets such as refrigeration, HVAC, building management systems (BMS) and lighting to reduce energy waste.
The company’s previous technical architecture had limitations in providing scalability to the market and it needed research and support to improve its technology to open up new customers and verticals for the brand.
The research
LoweConex identified a commercial opportunity to enhance its technological offering by revising its approach to architecture and technology creation. In turn, this would improve the overall efficiency of its go-to-market offering and business model.
Invest NI supported LoweConex with an R&D grant to explore how the company could test and reprogram the software to re-architecture its old platform into Conex OS. This turned the technology arm of the business into an easily deployable and scalable solution that was enterprise ready.
With Conex OS developed, LoweConex needed to invest in branding and market research to define the pathway to commercialisation exploitation.
Through Invest NI’s Growth Accelerator Programme, LoweConex repositioned the company offering to target larger customers and to investigate the potential of new markets.
Invest NI supported LoweConex with a business development key worker and the Invest NI Trade team helped the company with market research in the US.
Once the market opportunity was deemed viable, LoweConex needed to recruit more software engineers, finance, and operational staff to develop and tailor the product to the new target markets. Invest NI provided employment support through Selective Finance Assistance.
The result
Armed with enhanced technology, LoweConex continues to support retailers such as Poundland, Midcounties Co-op and L’Occitane with Conex OS and its managed services.
Earlier this year, they also announced a new partnership with Aldi to help the retailer deliver energy savings while maintaining food safety.
When discussing the impact R&D has had on his business, Ian Lowry, CEO of LoweConex, said:
“The benefits of investing in R&D have been huge for us as a business. With the support of Invest NI, our platform Conex OS has evolved, and our brand positioning is clearer, letting us communicate better to the market the benefits that we can offer them.
“The support has been instrumental in our growth, helping us to better support enterprise clients such as Aldi – we’re excited by our progress on this partnership and look forward to building on it moving forward.”
How can your business reach its full potential by investing in R&D?
Invest NI offers comprehensive support, funding opportunities, and access to expertise to help your business conduct impactful R&D projects and gain a competitive edge.
Our R&D support programmes are designed to stimulate innovation, foster collaboration, and enable businesses to scale effectively while contributing to the local economy.
You can find our full range of support here.
About the Author - Dr Vicky Kell, Director of Innovation, Research and Development
Vicky has significant experience in both private and public sectors, developing expertise in innovation, technology and international commercialisation. Vicky sits on judging panels for business, innovation, marketing and export awards. Her international conference experience includes making keynote addresses and facilitating workshops. Passionate about Northern Ireland, her aim is to facilitate the economic development of NI PLC through the growth and global competition of local businesses.
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