Established last year to build closer links between business and academia, the Centre is partnership between Boots, Longbow Capital and the Welsh Assembly Government.
Road show across UK universities Now it is rolling into action with a series of visits to universities in the UK starting with a seminar at the Said Business School in Oxford this week.
The events are designed to be mutually beneficial to both parties as scientists gain insight into commercial possibilities and Boots looks into the beating heart of the research community.
University scientists will learn about trends and commercial priorities that will help them identify ways of adapting their research to capitalize on opportunities in health and beauty.
For the beauty market, Boots Centre for Innovation identified anti-ageing technologies and products that enhance the look and feel of the skin as top priorities.
Turning ideas into health and beauty products The managing director of the Centre, Dr Ged O'Shea, said the hope is that the road shows will encourage university researchers to think laterally and identify new commercial applications for their work.
He said: "There are some amazing technologies out there, and our aim is to stimulate the development of new applications that can benefit the general public - as well as providing business opportunities for their investors."
Once university scientists have a sound idea, the Boots Centre for Innovation will help them turn it into a commercial success.
At the road shows they will, for example, learn about sources of funding for spin-off companies.
"We offer Universities a unique combination of advice, funding and a route to market for their inventions, so if their researchers have innovative ideas, we'd like to work with them to develop the next generation of health and beauty products," added O'Shea.
The project is the latest initiative that the Centre is pursuing to fulfill its goals of stimulating global innovation and providing the tools and networking opportunities to bring ideas to life.