Turning Research Into Impact: The Role of R&D in Business

In this episode of Inside Story, host Dursun Halimova sits down with Dr. Guy Schumann, CEO and founder of RSS Hydro, to dive into the world of disaster management, innovation, and entrepreneurship. As a leader in private-sector research, Dr. Schumann shares his unique insights on building a business around R&D and the essential role of hope and resilience in the face of setbacks. They explore the urgent need for innovation in the humanitarian sector, the financial realities of running an R&D-focused business, and the strategic advantages Luxembourg offers startups. 

For anyone considering the leap from academia to the private sector, Dr. Schumann’s advice on navigating cash flow challenges, balancing research passion with profitability, leveraging R&D for business success and developing an exit strategy is invaluable.

Tune in for practical advice on building a business rooted in research, creating real-world impact, and planning for long-term success. Don't forget to like, share, and subscribe for more insights on entrepreneurship and innovation!

Chapters

00:00 The Power of Hope in Starting a Business

03:42 Introduction to RSS-Hydro

05:24 Disaster Risk Reduction in the Humanitarian Sector

09:42 Balancing R&D Projects with Paying Customers

13:30 Key Research Partners and Clients of RSS-Hydro

15:53 Why Launch a Research-Based Company

20:35 Meeting Client Expectations Under Pressure

23:43 Choosing Luxembourg Over the USA for Your Startup

28:02 The Importance of Commercializing Research

29:52 Planning an Exit Strategy