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Has Patel-Lunch & Learn Presentation October 7, 2016

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The Art & Science of Product-Market Fit: Introducing the National Network for Manufacturing Innovation Institutes (NNMIs)

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Has Patel-Lunch & Learn Presentation October 7, 2016

  1. 1. I N F O L O G I C The logical approach to harness innovation Has Patel President Infologic, Inc. has.patel@infologic.com (888) 325 0500 Ext. 100 INFOLOGIC, INC. 25 Palatine # 212 Irvine, CA 92612 www.infologic.com National Manufacturing Day October 7, 2016 # MfgDay16 The Art & Science of Product-Market Fit Introducing the National Network for Manufacturing Innovation Institutes (NNMIs)
  2. 2. 1 Copyright © 2009 INFOLOGIC Inc. All rights reserved. Agenda : White House Call To Action Part 1: Product-Market Fit Part 2: The National Network for Manufacturing Innovation Institutes (NNMIs) “ … Manufacturing Day is an annual celebration of the strength of American manufacturing and an opportunity to educate and motivate the next generation of manufacturers…. This year, we can do even more—that is why, today, the Administration is launching an effort to inspire the next generation of manufacturers and support entrepreneurs manufacturing their first product in the United States…” Part 1
  3. 3. 2 Copyright © 2009 INFOLOGIC Inc. All rights reserved. What is Product/Market Fit ? • Product/market fit is the degree to which a product satisfies a strong market demand. Wikipedia • Product/market fit means being in a good market with a product that can satisfy that market. • The life of any startup can be divided into two parts – before product/market fit and after product/market fit Marc Andreessen • The concept of product/market fit as a step in between customer validation (step #2 in his book The Four Steps to the Epiphany) and customer creation (step #3) Steve Blank
  4. 4. 3 Copyright © 2009 INFOLOGIC Inc. All rights reserved. UCICove Startup Assessments Product-Market Fit Categories Planning • Product- Market Fit • Ability to Scale Team Dynamics Execution Total Addressable Market (TAM) Market Validation Customer Problem Solution/Value Proposition (VP) Lasting Unfair Advantage Financials/Revenue Model Exit Analysis
  5. 5. 4 Copyright © 2009 INFOLOGIC Inc. All rights reserved. FACT CHECK : Product Development Model (Source : NASA/DoD/GAO)
  6. 6. 5 Copyright © 2009 INFOLOGIC Inc. All rights reserved. FACT CHECK : Market Development Model (Source : Steve Blank) Source : The Four Steps to the Epiphany by Steve Blank
  7. 7. 6 Copyright © 2009 INFOLOGIC Inc. All rights reserved. FACT CHECK : Product/Market Fit Methodology (Source : DoD/GAO) Definitions KP 1 : Technologies and resources match market needs KP 2 : Technologies/Design performs as expected KP 3 : Production can meet cost, schedule, and quality targets
  8. 8. 7 Copyright © 2009 INFOLOGIC Inc. All rights reserved. Suggested Product/Market Fit Model Product Development Market Development
  9. 9. 8 Copyright © 2009 INFOLOGIC Inc. All rights reserved. Customer Solution/Value Proposition Model (Source : Infologic, Inc.) Product-as- a Product Product-as- a Service Product-as- a Process Focus on products as digital items, such as Sensor- based products and offer under CAPEX Combine Product with a Service, and offer under OPEX using Cloud, Mobile features Combine Product, Service, augmented reality, Social and Analytics Integrate your offerings with third party offerings – OEMs, partners and competitors Product-as- a Business Model Product Cost © 2016 Infologic, Inc. All rights reserved.
  10. 10. 9 Copyright © 2009 INFOLOGIC Inc. All rights reserved. FACT CHECK : Product-as-a-Service Model  The Internet of Things Is Here, and It Isn’t a Thing (Wall Street Journal – 8/21/2016) “…Everyone is waiting for the Internet of Things. The funny thing is, it is already here. Contrary to expectation, though, it isn’t just a bunch of devices that have a chip and an internet connection. The killer app of the Internet of Things isn’t a thing at all—it is services. And they are being delivered by an unlikely cast of characters: Uber Technologies Inc., Solar City, ADT Corp., and Comcast, to name a few…”  The Digital Manufacturer – Resolving the Service Dilemma (Cisco Executive Survey - 11/2015) “…In a climate of digital disruption and global market pressures, many manufacturers want to differentiate with new service-oriented revenue models, especially those that rely on connected machines and machine as- a-service. In a Cisco survey of more than 600 senior executives in 13 countries—from both industrial machine builders and end-user manufacturers—86 percent said the transition from product-centric to service- oriented revenue models is a core part of their growth strategies…“
  11. 11. 10 Copyright © 2009 INFOLOGIC Inc. All rights reserved. "Innovation: The Classic Traps” professor Rosabeth Moss Kanter of the Harvard Business School quotes … “ the most common mistake companies make is to apply traditional corporate processes to new projects. “ FACT CHECK : Product-as-a-Process Model
  12. 12. 11 Copyright © 2009 INFOLOGIC Inc. All rights reserved. The world’s largest taxi company – owns no vehicles The world’s most popular media company – creates no content The world’s largest hospitability company – owns no real estate How Smart, Connected Products Are Transforming Companies HBR Research Review by Professor Michael E. Porter and James E. Happelmann – 10/2015 FACT CHECK : Product-as-a-Business Model
  13. 13. 12 Copyright © 2009 INFOLOGIC Inc. All rights reserved. A Profitable Venture Equation A Profitable Venture with Lasting Unfair Advantage (may be an Unicorn !) Profitable Venture = f (Balanced Product/Market Fit + Innovative Value Proposition)
  14. 14. 13 Copyright © 2009 INFOLOGIC Inc. All rights reserved. Innovation Ecosystem : Power to Collaborate & Innovate Part 2 Customers Established Future Academia Research Universities Colleges Business Partners OEMs Venture Competitors Education & Training Technologies R&D/IP Test Beds Government Federal State Local
  15. 15. 14 Copyright © 2009 INFOLOGIC Inc. All rights reserved. Global Innovation Snapshot : 2016 R&D Forecast (Source : Industrial Research institute and R&D Magazine)
  16. 16. 15 Copyright © 2009 INFOLOGIC Inc. All rights reserved. Why Manufacturing & Innovation ? ( Source : NIST )
  17. 17. 16 Copyright © 2009 INFOLOGIC Inc. All rights reserved. Federal Government Act : H.R.2996 (RAMI) Revitalize American Manufacturing and Innovation Act of 2014 (Source : NIST/DoD)
  18. 18. 17 Copyright © 2009 INFOLOGIC Inc. All rights reserved. National Network for Manufacturing Innovation Institutes (NNMIs) www.manufacturing.gov
  19. 19. 18 Copyright © 2009 INFOLOGIC Inc. All rights reserved. NNMIs Positioning : Valley of Death & Innovation Ecosystem R&D Portfolio Technology Needs: Manufacturing Enterprises Wasted R&D Efforts Unmet End user technology needs Deterioration of US Innovation Leadership NNMIs
  20. 20. 19 Copyright © 2009 INFOLOGIC Inc. All rights reserved. NNMI : Overview  Elevator Speech • Publish-Private Partnership • Applied Research + Education/Training  Goal • Create 45 NNMis during the next decade ; As of Today - 9 • Lead by Universities/Non-Profits  Public-Private Partnership • Federal agencies invest $70 - $ 120 Million over 5 Years / per NNMI • Industry – Minimum Cost Share (1:1); Industry investing significantly more • Interested Agencies – DoD, DoE, NIST (more to come …..) • Time Frame - 5 Years Federal Commitment; Independent after 5 years  Technology Focus : • Advanced Manufacturing : Advanced Sensing, Controls, and Platforms for Manufacturing (ASCPM); Visualization, Informatics and Digital Manufacturing (VIDM); and Advanced Materials Manufacturing (AMM). • Emerging Technology Areas : Advanced materials manufacturing, engineering biology to advance bio manufacturing, bio manufacturing for regenerative medicine, advanced bio products manufacturing, and continuous manufacturing of pharmaceuticals.
  21. 21. 20 Copyright © 2009 INFOLOGIC Inc. All rights reserved. NNMI : Major Activities (Source : DoD)
  22. 22. 21 Copyright © 2009 INFOLOGIC Inc. All rights reserved. NNMI Ecosystem Overview (Source : NIST) One of the goals of NNMIs is “ … to help start-ups and small manufacturers to scale up new technologies, accelerate technology transfer to the marketplace, and facilitate the adoption of innovation workforce skills. The network is designed to foster innovation and deliver new capabilities that can stimulate the manufacturing sector on a large scale….” – NIST
  23. 23. 22 Copyright © 2009 INFOLOGIC Inc. All rights reserved. NNMI : Current Locations & Technology Focus (Source : NIST/DoD)
  24. 24. 23 Copyright © 2009 INFOLOGIC Inc. All rights reserved. How to Leverage NNMIs – National Assets Conceive Set Strategies Develop Implement Analyze Suggested Steps • Analyze RoI • Be Proactive ! • Participate in Project Call teams, Training and Test Beds • Network with Current/Future Partners • Become Member or Observer and Participate in Selected NNMIs Project Calls • Develop Strategies & Include in your Business Plan • Product-Market Development plans • Visit www.manufacturing.gov • Do current/future NNMIs fit in your venture?
  25. 25. 24 Copyright © 2009 INFOLOGIC Inc. All rights reserved. Conclusions & Takeaway Product/Market Fit is essential for Venture Success Adapt an innovative approach in developing Customer Value Proposition (VP) Leverage Innovation Ecosystems (e.g. NNMIs)
  26. 26. 25 Copyright © 2009 INFOLOGIC Inc. All rights reserved. Call to Action STARTUPS, ENTREPRENEURS & INTRAPRENEURS Adapt one of the goals to add “Third Dimension” to the American Innovation Ecosystem AMERICAN INNOVAITON ECOSYSTEM STAKEHOLDERS Develop tools, products and services for the above Group to achieve their goal
  27. 27. I N F O L O G I C The logical approach to harness innovation Questions ? Has Patel Infologic, Inc. has.patel@infologic.com (888) 325 0500 Ext. 100 INFOLOGIC, INC. 25 Palatine # 212 Irvine, CA 92612 www.infologic.com The Art & Science of Product-Market Fit Introducing the National Network for Manufacturing Innovation Institutes (NNMIs)

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