"Impact" for Fellowship application

I'm a telecom professional with 10yrs experience in research and innovation. I find the term "impact" in the FIET criteria to be vague and conflict with "sustained high achievements" in my scenario.

For example, I frequently work as collaborative research project leads with both academia and industry. These projects tend to focus on fleshing out technologies still in early or even conceptual stages. Naturally it will take a long time for commercial products based on them to appear in the market and "impact the world". The application FAQs also mention the achievements have to be made in the last 10 years.

How does this even work? What is being measured against "5 years of sustained achievements"? For example, is "5 years of recent collaborative research project leadership with no immediate commercial impact" a weaker case than, say, "a new product launched last year was based on the research project outputs I led 12 years ago"?

Thanks for your time reading this lengthy post. I'd appreciate if any Fellows can give some insights about "impact" and "sustained achievements".