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FITT Toolbox: Business Modeling

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The Technology Transfer Officers often need to develop a whole business idea to rightly exploit an interesting opportunity, generally along with its owner. This process therefore proposes guidelines for driving strategic decisions and designing a sustainable business model. It builds upon practical situations to propose practices that work. The variety of initial contexts is such that some will obviously be of interest to you.

www.FITT-for-Innovation.eu

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FITT Toolbox: Business Modeling

  1. 1. Business Modeling FITT– Fostering Interregional Exchange in ICT Technology Transfer – www.FITT-for-Innovation.euExcept where otherwise noted, this work is licensed under a Creative Commons Attribution 3.0 License.
  2. 2. Business Modeling  Business Modeling stands as a process to design a sustainable business model. This process is in essence a way to promote a business culture in a research context and a set of tools to facilitate the design of a business model.  We describe best the business modeling effort in a 3 step process:  A business model (BM), the outcome of this process, is a representation of how an organization makes money, or intends to. It is sustainable when each of its stakeholders is willing to further the business relationship it entails. Based on: http://www.businessmodelalchemist.com/2008/07/what-is-business-model-2.html2 | April 2011 Business Modeling
  3. 3. Mobilize  The first step to business modeling is aims at creating awareness around the starting Technology Transfer effort, in order to mobilize the most relevant people.  It typically  sets the scope of the technology transfer work, and  assembles the best team to make the right business choices  the sole TTO team @ Imperial College (see practice “Business model decision”)  An ad-hoc team of market and innovation experts @ Tudor (see “Business model design”)  This steps is lightly addressed in the practice “business model design”, that proposes a structuring framework. Awareness creation is a main topic of the Human Resource Management activity in FITT Toolbox.3 | April 2011 Business Modeling
  4. 4. Design  The Design step of the business model design process aims at researching, generating and testing viable business model options, and selecting a good one to pursue the Technology Transfer effort with.  A set of techniques supporting this step are described in the Business model design practice  How to better work jointly with industry contacts is illustrated by the Entrepreneur In Residence program, part of the Business model decision practice.4 | April 2011 Business Modeling
  5. 5. Manage  The manage step of our process aims at  implementing the business model prototype in the field and  adapting it in response to the market evolutions.  Is it the daily work of executives to manage the business. Strategic concerns of the 2 business model practices (Business model design practice & Business model decision practice), and IP management concerns of the IP Management activity in the FITT toolbox come in handy.  The SIRUNA business case provides an example of a business model managed to exploit open source software (see “Open source business model”).5 | April 2011 Business Modeling
  6. 6. Suggested Readings Link to bibliography Link to code book Business Model Transfer Opportunity Value Proposition Link to related websites http://www.businessmodelalchemist.com/ http://en.wikipedia.org/wiki/Business_model_innovation6 | April 2011 Business Modeling

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