PSY is only licenced to use to use the LumiMEMS technology until 2019. They can't sell or licence the technology to anyone else without the permission of the UofWA.
LumiMEMS is a very expensive and complex technology. Essentially it designed to replace or complement existing laboratory instruments. LumiMEMS devices are likely to cost (tens of) thousands of dollars each and be sold in very small numbers to niche users. It is very unlikely that it will be used in consumer devices for many years.
The MEMS market is dominated by a handful of giant global semiconductor companies with massive research budgets and established manufacturing facilities. It is an extremely competitive and capital intensive industry.
The reality is that PSY is just a tiny startup (ignoring the grossly inflated share price) company. Developing commercial products will take them a number of years and many millions of dollars.The risks are huge and the chances of success are very low.
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