Dr. Darryl Klassen

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  • Just want to make sure I highlight some of the books, literature and authors.. That have published some very useful material on the subjects that I’ve touched on really briefly… While I thank you for your attention…. And depending on time … open the floor to Questions….
  • Dr. Darryl Klassen

    1. 1. New Tech. Company Needs: Perspectives From Within a Mature Technology Company Darryl Klassen, Ph.D. Lab Manager, 3M Health Care Business June 10 th , 2011 © 3M 2011 – All Rights Reserved
    2. 2. Outline <ul><li>NewCo’s Vision </li></ul><ul><li>Growth – An Approach from a Mature Technology Company </li></ul><ul><ul><li>Technology Platforms as Growth Engine </li></ul></ul><ul><ul><li>New Product Introduction or NPI - “A Process Platform” </li></ul></ul><ul><ul><li>Core & Adjacent Growth Opportunities </li></ul></ul><ul><li>Improving the Probability of Success over Failure </li></ul><ul><ul><li>Risk & Gap Identification </li></ul></ul><ul><ul><li>Increasing the Odds </li></ul></ul><ul><ul><li>Customer Acceptance </li></ul></ul><ul><li>Takeaways </li></ul>© 3M 2011 – All Rights Reserved
    3. 3. What Do Leaders of New Company Want it to Be? © 3M 2011 – All Rights Reserved <ul><li>Vision of NewCo Leaders… </li></ul><ul><li>… the basis for the resourcing approach needed to achieve the vision. </li></ul><ul><ul><li>Development of a long term, sustainable medical device technology company. </li></ul></ul><ul><ul><li>Building of a startup company as an investment vehicle. </li></ul></ul><ul><ul><li>Creation of new technology innovations or IP (intellectual property) to commercialize through 2 nd company or partner. </li></ul></ul><ul><ul><li>Propagation of technology innovations simply to improve health care. </li></ul></ul><ul><ul><li>Others??? </li></ul></ul>
    4. 4. Technologies to Markets & Customers through NPI New Product Introduction (NPI) Process for understanding & validating key information at critical stages of new product introduction process. © 3M 2011 – All Rights Reserved
    5. 5. Markets to Businesses with Solid Cores <ul><li>Global Expertise in….. </li></ul><ul><li>Basic sciences for technology area </li></ul><ul><li>Manufacturing process understanding & capabilities </li></ul><ul><li>Market applications </li></ul><ul><li>Customer Understanding </li></ul><ul><li>Regulatory Knowledge </li></ul><ul><li>Quality Systems & GMP, GLP & GCP </li></ul>© 3M 2011 – All Rights Reserved Unitek (Orthodontics) Health Information Systems Drug Delivery Systems Food Safety (Microbiology) Espe (Dental) Skin Health Infection Prevention Services
    6. 6. The Core – The Basis for Commercialization Success <ul><li>Sustainable success needs a core with a support infrastructure that includes or has mechanisms for…. </li></ul><ul><ul><li>Customer focus for understanding customer/patient needs & requirements </li></ul></ul><ul><ul><li>Product development pipeline </li></ul></ul><ul><ul><li>Regulatory Affairs & Quality Systems </li></ul></ul><ul><ul><li>Marketing planning </li></ul></ul><ul><ul><li>Professional Services </li></ul></ul><ul><ul><li>Sales coverage.. </li></ul></ul>© 3M 2011 – All Rights Reserved White Space Core Adjacent Adjacent Distant Adjacency Current Products New Products Current Customers New Customers 3M 2006 Growth Plan
    7. 7. Getting from White Space to Core. <ul><li>For new technology companies that are in start up mode. </li></ul><ul><ul><li>It may be ALL or mostly white space. </li></ul></ul><ul><ul><li>White space opportunities are notoriously difficult to realize the full perceived value. </li></ul></ul><ul><li>To move from “White Space” to a successful core business… </li></ul><ul><li>Identify, analyze and cover off the critical gaps that currently distinguish NewCo from a successful company with a core business. </li></ul><ul><ul><ul><ul><ul><li>How are competitors doing it? </li></ul></ul></ul></ul></ul>
    8. 8. Getting to a Higher Probability of Success © 3M 2010 – All Rights Reserved Robert G. Cooper, Technical & Marketing Probabilities of Success. <ul><li>Potential Gaps </li></ul><ul><li>Product knowledge </li></ul><ul><li>Process knowledge </li></ul><ul><li>Regulatory knowledge </li></ul><ul><li>Understanding Competition </li></ul><ul><li>Customer knowledge </li></ul><ul><li>Buying processes </li></ul><ul><li>Critical market influencers </li></ul><ul><li>Supply chain </li></ul>© 3M 2011 – All Rights Reserved Product Knowledge Very Low Very High Technology to produce product does not exist within current company.   Product performance characteristics already understood, demonstrated and well known. Process Knowledge Very Low Very High Production technology not currently at hand at current company. Process to make is concept only.   Production Process is in place making similar materials or product Differentiated Customer Benefit or Need Very Low Very High Product performs as well as competitor but conveys no advantage.   Product is a Wow. Performs better than competition, is unique and there are not substitutes. Market Knowledge Very Low Very High Business has no experience with supply chain or market and has no immediate access to data.   Business has data to support high understanding of target markets and supply chain. Low Probability of Success. Higher Probability of Success.
    9. 9. <ul><li>Adoption of new technologies often follows a general trend. </li></ul><ul><li>Only a small percentage of new technology advocates / embracers are innovators and early adopters. </li></ul>Innovation Penetration & Opportunity Realization Everett M. Rogers, Diffusion of Innovations, Simon & Schuster, 5 th Edn. (2003) Time % Customer Penetrated with Technology © 3M 2011 – All Rights Reserved Innovators 2.5% Early Adopters 13.5% Early Majority 34% Late Majority 34% Laggards 16%
    10. 10. <ul><li>Adoption of new technologies often follows a general trend. </li></ul><ul><li>Only a small percentage of new technology advocates / embracers are innovators and early adopters. </li></ul>Innovation Penetration & Opportunity Realization Everett M. Rogers, Diffusion of Innovations, Simon & Schuster, 5 th Edn. (2003) Time % Customer Penetrated with Technology Critical Mass of Opportunity defined by Early Majority and Early Adopters. © 3M 2011 – All Rights Reserved Innovators 2.5% Early Adopters 13.5% Early Majority 34% Late Majority 34% Laggards 16%
    11. 11. Innovation Penetration & Opportunity Realization Everett M. Rogers, Diffusion of Innovations, Simon & Schuster, 5 th Edn. (2003) Time Does your plan for early stage sales $$ rely on potential customers that fit here? % Customer Penetrated with Technology © 3M 2011 – All Rights Reserved Innovators 2.5% Early Adopters 13.5% Early Majority 34% Late Majority 34% Laggards 16%
    12. 12. 3 Main Take Aways <ul><li>“ The Vision” Know what it is the company wants to achieve. </li></ul><ul><li>Fully understand the “Real” opportunity, resource requirements, gaps and timelines prior to major investment. </li></ul><ul><ul><li>Regulatory Landscape (Domestic and Global if Global Opportunity) </li></ul></ul><ul><ul><li>Customer needs/wants, technology/product pipeline fit, purchase mechanics for customers, intensity to support (sales & tech service)… </li></ul></ul><ul><li>Organize & resource to cover critical gaps focusing on key markets, segments and customers where you can win. </li></ul><ul><ul><li>Gaps can be covered through key staff, consultants, supply/sales or partnership agreements, etc. </li></ul></ul>© 3M 2011 – All Rights Reserved
    13. 13. Authors & References of Influence <ul><li>Chris Zook, Profit From The Core , Harvard Business Press. </li></ul><ul><li>Stanly R. Rich & David E Gumpert, Business Plans that Win $$$ - “Lessons from the MIT Enterprise Forum.” Harper </li></ul><ul><li>Robert G. Cooper, Winning at New Products: Accelerating the Process form Idea to Launch , Addison Wesley </li></ul><ul><li>Everett M. Rogers, Diffusion of Innovations , Simon & Shuster </li></ul><ul><li>Rockney Walters, Professor of Marketing, Kelley School of Business, Indiana University </li></ul><ul><li>Krishnan Shankar, Professor of Marketing, Kelley School of Business, Indiana University </li></ul>© 3M 2011 – All Rights Reserved
    14. 14. Questions © 3M 2011 – All Rights Reserved ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?

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