As one of the academic partners in Design in Action, the Institute for Capitalising on Creativity (ICC) at St Andrews University is investigating the commercialisation of ideas emerging from the initiative’s mentored, residential innovation workshops called: Chiasma. In particular, it seeks to develop understanding of the ideation to monetisation process as a product of engagement with the strategic capacity of design. Tracing the path of ideas and their gradual transformation into working artefacts, the research burrows into aspects of knowledge, value and valuation and their articulation in new business models. The latter are approached as performative tools mutually forming and being formed by the customs and practices of the various actors involved in the process of entrepreneurial venturing. Probing the narratives surrounding the exploration and exploitation of new commercial opportunities, attention is further attributed to the role of early-stage intellectual property.