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Cybera - Leading Edge of Commercialization- A Case Study- CCAT2010

Cybera - Leading Edge of Commercialization- A Case Study- CCAT2010

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  • 1. Leading Edge of CommercializationA Case Study
    Robin Winsor
  • 2. There is a tide in the affairs of men,
    Which, taken at the flood, leads on to fortune;
    Omitted, all the voyage of their life
    Is bound in shallows and in miseries
    Julius Caesar. Act IV, Scene 3
  • 3. Agenda
    Technology Description
    Timeline
    Struggles, Setbacks and Successes
    Lessons Learned
    What’s Changed
  • 4. What does IDC do?
  • 5.
  • 6.
  • 7. Competing Technologies circa 2000
    Kodak
    Fuji
    Agfa
    Kodak
    GE / Seimens
    CaresBuilt
    IDC
    SwissRay
  • 8. CMOS
  • 9. Market
    350k
    DR
    CR
    125k
    FILM
    Cost (US$)
    45 secs
    Foothills+
    Large hospitals
    8.5 mins
    Small & Medium
    Hospitals
    8 mins
    Clinics
  • 10. Market
    350k
    DR
    CR
    125k
    FILM
    Cost (US$)
    750
    Large hospitals
    10,000
    Small & Medium
    Hospitals
    Clinics
    Uncounted
  • 11. Market
    350k
    DR
    CR
    125k
    FILM
    Cost (US$)
    750
    Large hospitals
    10,000
    Small & Medium
    Hospitals
    IDC : 45secs : <$150k
    Clinics
    Uncounted
  • 12. TimeLine
    November 8th, 1895
    November 8th, 1995
  • 13. TimeLine
    N.American
    Sales
    Downsize
    Mgmt financing
    Liquidate assets
    U.S.”Expert” arrives
    New Products
    New Building
    Rapid Expansion
    Clinical Use
    Production Ramp-Up
    Rapid Revenue Growth
    International Distribution
    OEM Partners
    Luminary Sites
    Scientific Validation
    $$ Revenues $$
    Regulatory Approvals
    Clinical Testing
    U.S.”Expert”
    leaves
    Mutiny
  • 14.
  • 15. Futures
  • 16. Lessons Learned
    Trust
    • It has to be earned
    • 17. Don’t discount the bizarre
    • 18. Beware of new friends in good times
  • Lessons Learned
    Contingency Plans
    • Save for a rainy day… it rains a lot !
  • Lessons Learned
    Build The Right Team For Each Stage
    • Scientists NEED marketers and financiers and …
    • 19. Management team must complement, not duplicate, each other
    • 20. Finder / Minder / Grinder
    • 21. Expect and celebrate change in the lineup
    • 22. Do the paperwork
  • Lessons Learned
    Build An Active Board
    • Think carefully before putting a customer on BoD
    • 23. Don’t appoint for appearances sake, make it WORK
    • 24. Try for diversity
  • Lessons Learned
    Know When To Let Go
    • If you can do it all, you’re not doing enough
    “There is no limit to how much a man can accomplish or how far he can succeed as long as he doesn't mind who gets the credit”
  • 25. Lessons Learned
    Know What You Do
    • Core competencies
    • 26. Be clear
    • 27. Keep checking for drift
  • Lessons Learned
    Lawyers Can Be Your Friends
    • Don’t cheap out on legal services
    • 28. Understand their specialities
    • 29. Look for chemistry
    • 30. File plenty of patents
  • Lessons Learned
    Pay Your Taxes Happily
    Cybera
    • National Research Council (NRC)
    • 31. Industrial Research Assistance Program (IRAP)
    • 32. Alberta Heritage Fund for Medical Research
    • 33. Shad Valley
    Keep it in Canada
  • 34. Lessons Learned
    Culture
    • Why do you and your staff work so hard – is it for the same reasons ?
    Fun
    $$$ / Options
    Vision
  • 35. Corporate Vision
    To provide the highest quality, most cost- effective digital radiography (DR) products in the healthcare market
  • 36. Vision
    Tuberculosis35% of the world’s population infected
  • 37. Lessons Learned
    Believe In Angels
    • Douglas Street
    • 38. Geoffrey Galley
    …and be sure they believe in you
  • 39. Lessons Learned
    Retail Investors
    • Most brokers don’t care
    • 40. Learn the elevator pitch
    • 41. Expect turbulence
  • Lessons Learned
    Institutional Investors
    • Fund Managers DO care
    • 42. Know your numbers
    • 43. Expect to be held accountable
  • Lessons Learned
  • 44. Lessons Learned
    China is a huge market
    Chinese prefer Chinese
    Protect your IP, then go
  • 45.
  • 46.
  • 47. What Has Changed
  • 48.
  • 49.
  • 50.
  • 51.
  • 52.
  • 53. What Has Changed
    Barriers to entry
    Equipment costs falling
    Information easy to access
    Regulatory is a little easier
    Computing power increased by ~8000 x
    Design, prototype cycle reduced from weeks to days
    Competitors know what you’re doing
  • 54. What Hasn’t Changed
    Need for a good team
    Need for financing
    Need for hard work
    Need for speed
  • 55. Team Building / Networking Tools
  • 56.
  • 57.
  • 58. Collaboration / Information Portals
  • 59.
  • 60. Government & NGO Assistance
  • 61.
  • 62. Mature
    Company Development
    Concept
    Venture
    Assessment
    Economic
    Feasibility
    Strategic
    Business
    Plan
    Financing
    the Venture
    & Business
    Start-up
    Business
    Growth
    Business
    Maturity
    Business
    Development
    Market
    Needs
    Assessment
    Market
    Study
    Strategic
    Market Plan
    Market
    Validation
    Sales &
    Distribution
    Market
    Diversi-
    fication
    Market
    Development
    Technical
    Analysis
    Technical
    Feasibility
    Engineering
    Prototype
    Pre-
    production
    Prototype
    Production
    Production
    Support
    Technology
    Development
    Goldsmith Model for Commercialization
  • 63. Innovation Resources
  • 64. Calgary Technologies TCI Programs
    Technology Commercialization and Incubation
    2002
    2002
    1997
    2009
    Updated: Jan, 2010
    51
  • 65. Calgary Technologies TCI Programs
    Technology Commercialization and Incubation
    2009
    2007
    2003
    2009
    Updated: Jan, 2010
    52
  • 66.
  • 67. There is a tide in the affairs of men,
    Which, taken at the flood, leads on to fortune;
    Omitted, all the voyage of their life
    Is bound in shallows and in miseries
    On such a full sea are we now afloat, And we must take the current when serves, Or lose our ventures.
    Julius Caesar. Act IV, Scene 3
  • 68. ? ? ? Questions ? ? ?