The development of innovations : the case of Transvalor

Transvalor SA is a subsidiary of Armines. It was formed in 1984 to develop patents registered by the Ecoles des Mines. Over the past decade, it has changed its strategy to concentrate on the industrial and commercial development of scientific software using two approaches: the development of in-house projects ; and having a stake in the capital and participating in the administration of spin-offs. Currently, it has about forty employees and a turnover of 5.1 million Euros. Transvalor manages several operations at various stages of development. Pascal Iris has worked in this company for fifteen years. He highlights the factors which contribute to the success of an innovative company which has emerged from laboratory research. These include the time required for a research result to change into a sellable product; and the necessary continuum between people and talent which leads one to question the concept of 'ready-to-use' available innovations. Both the future company and the research centre benefit from the close link which is maintained between the project and the original laboratory, and which is legitimised in the eyes of its industrial partners by its participation in an entrepreneurial project.