Business model of a patented invention developed at a university on the example of the “WAXO” beeswax quality analyzer

Purpose: The research purpose is to diagnose the market for beeswax quality analyses in Poland and to develop assumptions for the business model for the commercialization of the WAXO beeswax quality analyzer. Design/methodology/approach: The market analysis was conducted using Computer Assisted Self Interviewing (CASI). The study was conducted among randomly selected 124 respondents in beekeeping throughout the country. Most answered questions on behalf of beekeeping groups or associations, indicating how many members they had. Based on these data, it was determined that the interview results were representative of 2226 respondents. Assumptions for the business model were developed using the Business Model Canvas methodology about: customer segmentation, value proposition, channels, customer relationships, revenue structure, key activities, key resources, key partners, cost structure. Findings: A business model was developed based on which the commercialization of the WAXO device should be carried out. Practical implications: The conducted research allowed for the formulation of conclusions along with the presentation of operational initiatives necessary to introduce the device to the market and further commercialize it. Social implications: The invention of a beeswax quality analyzer protects bee colonies and the natural environment by changing the awareness of the beekeeping community and taking steps to change the applicable legislation. The presented recommendations support the university authorities in making decisions regarding the commercialization strategy of WAXO and the selection of operational solutions necessary to introduce it to the market, production, sales, and customer service. Originality/value: The subject of the invention is a portable electromechanical device allowing the analysis of beeswax for the presence of added impurities.