Master class in technology entrepreneurship

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A 30 week on line programme for developing technology entrepreneurs

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  • A cogent 80/20 presentation of what is usually a very complex process. Well done!
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Master class in technology entrepreneurship

  1. 1.   Commercialization of Technological Innovation Master Class Andrew Maxwell, April 1 2006
  2. 2. <ul><li>A 22 step programme aimed at helping potential entrepreneurs increase their likelihood of success in getting new technologies market </li></ul><ul><li>An open source programme, designed to adopt best practices, especially to a Canadian context </li></ul><ul><li>A process to leverage the 30 years of experience at the Canadian Innovation Centre, to introduce common concepts, tools, vocabulary and metrics. </li></ul>What is the Commercialization Master Class
  3. 3. <ul><li>Commercialization Master Class is an open community of individuals experienced in the area of technology commercialization. </li></ul><ul><li>Modeled on open source, with a common public license that provides royalty free documentation, and world wide redistribution rights, </li></ul><ul><li>All material from Commercialization Master Class is available under the terms of the GNU Free Documentation License </li></ul>What is Open Source
  4. 4. <ul><li>Innovations stemming out of research and technology development, rather than market, frequently need to make a cultural shift before they can follow a market driven agenda. </li></ul><ul><li>Experience in the commercialization of technology can provide a framework and resource to facilitate this shift and provide insights into the main reasons for lack of success </li></ul><ul><li>Most new product launches are unsuccessful, but this can be changed </li></ul>Why do we need such a programme?
  5. 5. Universal Industrial Success Curve Shows Most New Business Development Efforts Unsuccessful Canadian Innovation Centre Background 1 10 100 1000 10,000 Number of Ideas 1 2 3 4 5 6 7 Stage of New Bus Dev Process 3000 Raw Ideas (Unwritten) 300 Ideas Submitted 125 Small Projects 9 Early Stage Development 4 Major Development 1.7 Launches 1 Success Source: G. Stevens and J. Burley, “ 3000 Raw Ideas = 1 Commercial Success!”
  6. 6. New innovations proceed through a number of barriers (or stages) on their path to commercial success. At each stage, there are different challenges and resources needed. Appropriate assistance at each stage can shorten the path and guide through barriers. Canadian Innovation Centre New Product Development Path Proof of Principle >>>>> Proof of Concept >>>>> Proof of Commerce
  7. 7. The 30 Classes <ul><li>Need for innovation and entrepreneurship </li></ul><ul><li>Sources of innovation </li></ul><ul><li>Characteristics of entrepreneurs </li></ul><ul><li>Creating the value proposition </li></ul><ul><li>Understanding the disruptive capacity </li></ul><ul><li>Understanding the business model </li></ul><ul><li>Creating and protecting intellectual property </li></ul><ul><li>Building a prototype </li></ul><ul><li>Product development </li></ul><ul><li>Design </li></ul><ul><li>Market Research </li></ul><ul><li>Technology roadmap </li></ul><ul><li>Negotiating and expectation setting </li></ul><ul><li>Partnerships and strategic alliances in the supply chain </li></ul><ul><li>Driving adoption </li></ul>
  8. 8. The 30 Classes <ul><li>The Commercialization Roadmap </li></ul><ul><li>Go to market strategy </li></ul><ul><li>Operational issues </li></ul><ul><li>Organizational issues </li></ul><ul><li>Building a team </li></ul><ul><li>Building an advisory board </li></ul><ul><li>Building a business plan </li></ul><ul><li>Creating financial models of profit and loss </li></ul><ul><li>Understanding cash flow </li></ul><ul><li>Balance sheets and valuation </li></ul><ul><li>Understanding your financial requirements </li></ul><ul><li>Sharing equity </li></ul><ul><li>Getting finance </li></ul><ul><li>Pitching </li></ul><ul><li>Closing the deal </li></ul>
  9. 9. Canadian Innovation Centre’s (CIC’s) Unique National Role Utilizing CIC’s national mandate and experience <ul><li>Over 30 years, the not-for-profit CIC has concluded over 40,000 studies recommendations, which have been validated by external researchers </li></ul><ul><li>The CIC’s multi-technology team brings a comprehensive and cost effective approach to studies </li></ul><ul><li>A “market focussed” fourth pillar independent organization is in a unique position to validate market opportunity for both innovation partners and innovators </li></ul><ul><li>The CIC continues to develop best practices, tools and commercialization measurement systems (metrics) which can be used to enhance performance improvements </li></ul><ul><li>The CIC’s independent assessment tools are useful for enhancing communications with both existing and new sources of finance and other stakeholders </li></ul>
  10. 10. Canadian Innovation Centre Canada’s Cost Effective Commercialization Resource <ul><li>has access to a critical mass of subject matter experts </li></ul><ul><li>has a database of 40000 studies against which other opportunities can be measured </li></ul><ul><li>has a streamlined assessment process which increases cost effectiveness and economises of scale </li></ul><ul><li>attracts support from a variety of sources and is a not for profit, reduces the price which has to be charged to Innovation partners and innovators </li></ul><ul><li>connects to innovators through Innovation partners, reducing selling costs normally associated with this type of activity </li></ul>
  11. 11. Creating Commercialization Roadmap A market driven process to enhance the rate of commercialization What was missed or changed Growth Lost Order Analysis Concept to business issues and opportunities Evaluate Critical Factors Multiple Applications Launch Maximize Align Validate Stage/Time First Customer Demands 10 Testing & Refinement 7 Buyer-Driven Functionality 4 Market Impact 1 Technology Development Activities How to make the most of it to how to support it What is needed to how to make the most of it What is practical to what is needed What is possible to what is practical Attitude Shift Growth Demands 11 Licensing & Segmentation 8 Business Resources 5 Business Proposition 2 Business Development Activities Market Entry Demands 12 Channel & Distribution 9 Competitive Positioning 6 Market Dynamics 3 Sales Development Activities

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