Evening Primrose Oil

Technology Transfer Project

New Species of Evening Primrose Oil

Michela PROCTOR

Christian ROJMAR

Kyle WEATHERBY

Alexander YOANG

Table of Contents

Executive Summary pg. 1

Overview of Technology & Associated Products/Services pgs. 1-3

Analysis of the External Environment & Competitors pgs. 3-6

Future Outlook Recommendation pgs. 6-8

References pg. 9

Appendix pg. 10

Executive Summary

The technology that we are researching is evening primrose oil. Two inventors at Texas Tech University, Dr. Cynthia McKenney and Dr. Dick Auld, have been researching and perfecting this species for over fifteen years. Currently, the product is not moving forward, but the inventors continue to grow small amounts on University farmland in order to continue testing and modifying the species.

Evening primrose is similar to the primrose plant that already exists, but differs in several small ways. This is what is the inventors have hoped will help set this new species apart from the other versions of primrose. The most significant trait of our inventor’s primrose is due to the fact that the flower bloom only opens at night. However, this is not a new product that is being invented. Inventors are simply modifying the current version that is already available, so that the new species can be grown in different environments from those presently being used. Primrose is typically grown in China and Canada, and this evening primrose would provide the ability to be grown in areas with climates similar to that of Lubbock and West Texas (McKenney, 2009, p. 1).

Because primrose plants and oils are already available to various markets, it will be hard for the new evening primrose species to establish a viable place in any of the three markets primrose is currently penetrating. Evening primrose does not offer significant benefits over other primrose, making our technology obsolete to buyers and consumers. Although the inventors...