Business Strategy Innovation Business Series The U.S. Civilian Research and Development Foundation (CRDF) Industry Partner...
Business Mindset & Personality Discover Invent Genius Unmistakable Results Prove Methodological Research Intelligent Think...
Your Role = Your Strengths Know Yourself: Technology Problems Technologist Solutions Relationships Consultant Deals Partne...
Business Model Sell Technology Serve Markets/Customers Build an Organization Technology Patents License Deals Relationship...
Partner for  Critical  Needs Network Partner Fill the gap between your strengths and business needs
Business Activities for Scientists  <ul><li>Contract research  </li></ul><ul><li>Collaborative research </li></ul><ul><li>...
End-Customer Marketing? * If partner is the end-customer, then scientist does the end-user marketing. Company Contract Lic...
Market Strategy Existing Market: Same customers, need and budget MOST DIFFICULT High Risk (Market Development) CHALLENGING...
Easier to Satisfy Demand  <ul><li>Satisfy demand “pull vs. push” </li></ul><ul><ul><li>Easier to provide what is wanted th...
Market Pull v. Push Market Push Customer Need (Demand) Scientist Company Purchases $ Purchases $ Market Pull Customer Need...
Niche Marketing <ul><li>Target specialty markets   </li></ul><ul><li>(“niche markets”) </li></ul><ul><ul><li>Greater relat...
Established Market Economies <ul><li>Foreign Market Chains are specialized: </li></ul><ul><ul><li>Technology </li></ul></u...
Market Chains Position in market chain  (also called “value” chain) Nuclear Fuel Processed Food
Specialization EASIEST No Funding CHALLENGING Medium Funding Specialized Just ONE:  R&D, Consulting,  Licensing, Prototypi...
Progression v. Transformation Difficult to Cross EASIEST No Funding CHALLENGING Medium Funding Specialized Just ONE:  R&D,...
Minimize Funding Requirements <ul><li>Easier to start with a service  (funding) </li></ul><ul><ul><li>Get paid to build th...
Identify Customer (Buyer) <ul><li>Where do you “fit” best? </li></ul><ul><li>Business model </li></ul><ul><ul><li>Smallest...
Common Sense Approach <ul><li>Start with Buyers </li></ul><ul><li>Get paid to build solution </li></ul><ul><li>Why ? </li>...
Innovation Business Lessons <ul><li>Identify customers and their needs </li></ul><ul><li>Start with a service to get paid ...
Q&A: Business Strategy
CRDF Contact Information <ul><li>U.S. Civilian Research & Development Foundation (CRDF) </li></ul><ul><li>1530 Wilson Boul...
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English Version - US Civilian Research

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English Version - US Civilian Research

  1. 1. Business Strategy Innovation Business Series The U.S. Civilian Research and Development Foundation (CRDF) Industry Partner Development Program (PDP) Your Partner for Ventures in Science and Technology
  2. 2. Business Mindset & Personality Discover Invent Genius Unmistakable Results Prove Methodological Research Intelligent Think Science Modify Profit Common Sense Ambiguous Attempts Decide Critical Assess Clever Talk Business
  3. 3. Your Role = Your Strengths Know Yourself: Technology Problems Technologist Solutions Relationships Consultant Deals Partnerships Business Person
  4. 4. Business Model Sell Technology Serve Markets/Customers Build an Organization Technology Patents License Deals Relationships Contract Management Registration, Taxes Company
  5. 5. Partner for Critical Needs Network Partner Fill the gap between your strengths and business needs
  6. 6. Business Activities for Scientists <ul><li>Contract research </li></ul><ul><li>Collaborative research </li></ul><ul><li>Use of Institute facilities by others </li></ul><ul><li>Licensing intellectual property </li></ul><ul><li>Joint ventures </li></ul><ul><li>Partnerships </li></ul><ul><li>Creating spin-out companies </li></ul><ul><li>Specialized research services </li></ul><ul><li>Engineering services </li></ul>
  7. 7. End-Customer Marketing? * If partner is the end-customer, then scientist does the end-user marketing. Company Contract License Business Model You *Partner Buyer Marketer
  8. 8. Market Strategy Existing Market: Same customers, need and budget MOST DIFFICULT High Risk (Market Development) CHALLENGING Medium Risk Invention CHALLENGING Medium Risk EASIEST Low Risk (Market Penetration) Improvement New Market Existing Market Strategy
  9. 9. Easier to Satisfy Demand <ul><li>Satisfy demand “pull vs. push” </li></ul><ul><ul><li>Easier to provide what is wanted than to search for someone that wants what you have </li></ul></ul><ul><ul><li>Deterministic: find a need, satisfy it </li></ul></ul><ul><li>Incremental innovation versus invention </li></ul><ul><ul><li>97%+ of all U.S. startups do not receive venture capital </li></ul></ul><ul><ul><li>Most technology businesses are not based upon patents </li></ul></ul><ul><ul><li>Most U.S. technology licensing offices are not profitable </li></ul></ul><ul><li>Scientific business versus commercialization </li></ul><ul><ul><li>Services: advising/consulting, contract R&D, specialized research projects, product innovation, production improvement, cost reduction, value added reselling, etc. </li></ul></ul>
  10. 10. Market Pull v. Push Market Push Customer Need (Demand) Scientist Company Purchases $ Purchases $ Market Pull Customer Need (Demand)? Scientist Company Invention Search?
  11. 11. Niche Marketing <ul><li>Target specialty markets </li></ul><ul><li>(“niche markets”) </li></ul><ul><ul><li>Greater relative importance in a specialty market </li></ul></ul><ul><ul><li>Be realistic – large markets unlikely </li></ul></ul><ul><ul><ul><li>Major transnational corporations spend billions to keep you out </li></ul></ul></ul><ul><ul><ul><li>More difficult to sell to large corporations </li></ul></ul></ul><ul><li>Compelling need </li></ul><ul><ul><li>Required for survival vs. beneficial </li></ul></ul>
  12. 12. Established Market Economies <ul><li>Foreign Market Chains are specialized: </li></ul><ul><ul><li>Technology </li></ul></ul><ul><ul><li>Application </li></ul></ul><ul><ul><li>Component </li></ul></ul><ul><ul><li>Unit </li></ul></ul><ul><ul><li>End product </li></ul></ul><ul><ul><li>Packaging </li></ul></ul><ul><ul><li>Distribution </li></ul></ul><ul><ul><li>Retail </li></ul></ul>
  13. 13. Market Chains Position in market chain (also called “value” chain) Nuclear Fuel Processed Food
  14. 14. Specialization EASIEST No Funding CHALLENGING Medium Funding Specialized Just ONE: R&D, Consulting, Licensing, Prototyping CHALLENGING Medium Funding DIFFICULT High Funding Comprehensive All: R&D, Production, Marketing Packaging, Distribution, Retail Service Product Strategy
  15. 15. Progression v. Transformation Difficult to Cross EASIEST No Funding CHALLENGING Medium Funding Specialized Just ONE: R&D, Consulting, Licensing, Prototyping CHALLENGING Medium Funding DIFFICULT High Funding Comprehensive All: R&D, Production, Marketing Packaging, Distribution, Retail Service Product Strategy
  16. 16. Minimize Funding Requirements <ul><li>Easier to start with a service (funding) </li></ul><ul><ul><li>Get paid to build the product </li></ul></ul><ul><ul><li>Get paid in advance, not when done </li></ul></ul><ul><ul><li>You have no funding now, why start with a strategy that requires something you do NOT have? </li></ul></ul><ul><li>Free and better market research </li></ul><ul><ul><li>Learn through relationships and services </li></ul></ul><ul><ul><li>Companies know their markets </li></ul></ul><ul><ul><li>Learn through partners and customers </li></ul></ul>
  17. 17. Identify Customer (Buyer) <ul><li>Where do you “fit” best? </li></ul><ul><li>Business model </li></ul><ul><ul><li>Smallest level of activity possible </li></ul></ul><ul><ul><li>Competitive basis – you and your technology </li></ul></ul><ul><ul><li>Do NOT “re-invent the wheel” </li></ul></ul><ul><li>Find people who buy from scientists </li></ul><ul><li>Find companies who use science </li></ul><ul><li>Easier to build relationships than factories </li></ul><ul><li>Sometimes you have to build the factory </li></ul><ul><ul><li>Possible, but much more difficult </li></ul></ul><ul><ul><li>Get paid later instead of now </li></ul></ul>
  18. 18. Common Sense Approach <ul><li>Start with Buyers </li></ul><ul><li>Get paid to build solution </li></ul><ul><li>Why ? </li></ul><ul><li>“ You can build solutions but not buyers…” </li></ul><ul><li>Know the Market </li></ul><ul><li>Talk : potential customers, potential competitors, partners, advisors, investors/creditors, “multipliers” </li></ul>2. Identify a compelling need Talk : potential customers, potential competitors, partners, advisors, investors/creditors, “multipliers” 3. Generate customers Talk : potential customers, potential competitors, partners, advisors, investors/creditors, “multipliers” 4. Sell solution 5. Build & deliver solution
  19. 19. Innovation Business Lessons <ul><li>Identify customers and their needs </li></ul><ul><li>Start with a service to get paid sooner </li></ul><ul><li>Learn from your customers </li></ul><ul><li>Expand your activity </li></ul><ul><li>Protect intellectual property and information </li></ul><ul><li>Communicate! </li></ul><ul><ul><li>Talk to people </li></ul></ul><ul><ul><li>Write simply and state benefits/conclusions </li></ul></ul><ul><ul><li>Close deals </li></ul></ul>
  20. 20. Q&A: Business Strategy
  21. 21. CRDF Contact Information <ul><li>U.S. Civilian Research & Development Foundation (CRDF) </li></ul><ul><li>1530 Wilson Boulevard, Suite 300 </li></ul><ul><li>Arlington, VA 22209 USA </li></ul><ul><li>Emails </li></ul><ul><li>[email_address] General CRDF enquiries </li></ul><ul><li>[email_address] Partner Development Program (business questions) </li></ul><ul><li>[email_address] Travel Grant Program </li></ul><ul><li>[email_address] First Steps to Market Grants (new partnerships) </li></ul><ul><li>[email_address] Next Steps to Market Grants (commercial partnerships) </li></ul><ul><li>Website: www.crdf.org </li></ul><ul><li>Tel: +1 (703) 526-9720 </li></ul>
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