This paper describes a research and innovation platform for the development of ideas relating to the investigation of blood perfusion in peripheral tissue. The Loughborough Innovation Platform for Health Technologies (LIPHT) can be used to demonstrate the use of the research and innovation pipe-line in more than one dimension. For this paper the first dimension considered is that of 'blue sky' idea through to their exploitation for the benefit of users and at the same time creating a wealth stream; the second dimension is the changing market as the ideas develop--from a hospital-based instrument operated by clinicians through to a point and click device for the use by the knowledgeable layman in the community. The starting point for these developments is a medical device known to many people as the 'finger clip' that measures arterial blood oxygen saturation; the end point is an optical device capable of imaging blood perfusion.