The BMIT allows for consideration of a more complex set of factors and thus more readily distinguishes why and where established firms have difficulty with business model innovation.
The BMIT classifies innovation along three dimensions: technology, value network, and financial hurdle rate (Figure 1).
In the BMIT, the value network dimension is divided into two areas: innovations within the company's existing network and innovations requiring value networks with components that are new to the company; new value networks may reach existing consumers in the market or new nonconsumers.
Hurdle rate is another factor in the BMIT. The hurdle-rate dimension describes the relationship of a given project's financial projections to the minimal expected return.
Established companies typically encounter significant challenges in this more difficult zone of the BMIT.
"Our entire team was just thrilled with what we saw--the images we're getting on BMIT are as good as any I've gotten at any other synchrotron.
Other techniques planned for development at BMIT include the delivery of precise beams of high energy X-rays for the treatment of cancer.
"This is great news, both for the BMIT team and the Canadian Light Source," said CLS executive director Josef Hormes.
"The BMIT team is profoundly grateful to staff of the CLS who have worked extremely hard over the past several years to bring this facility to fruition.