Techno-Economic Evaluation Seminar Provides 'New' Insight
RCIPS hosted a seminar on Techno-Economic Analysis (TEA) presented by Prof David Walwyn of Reseva. Techno-economics are not frequently considered as part of university-based research projects, but they become increasingly important as one moves towards commercialisation.
Through the analysis one assesses the feasibility of commercialising a new product or service through an in-depth analysis of the cost of production, anticipated selling price of the product or service and the market. Recent analysis of UCT projects by Prof Walwyn provided researchers with an entirely different perspective of their research. Cost optimisation and sensitivities emphasized different research focii.
The seminar covered: what background information is required for the analysis; how to obtain this information; and how to use the information in the construction of a single year costing (SYC) or discounted cash (DCF) flow statement. There were a couple of examples that were presented to demonstrate the applicability of techno-economic analysis in a university research environment, particularly in translational research projects.
Details regarding TEA and sample spreadsheets can be downloaded from the Techno-Economic Evaluation page on our site. These were kindly made available by Prof Walwyn.