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Technology Acquisition and R&D with Enterprise Ireland, PJ'O'Reilly

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Technology Acquisition and R&D with Enterprise Ireland, PJ'O'Reilly

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Technology Acquisition and R&D with Enterprise Ireland, PJ'O'Reilly

  1. 1. Title Sub-title PLACE PARTNER’S LOGO HERE European Commission Enterprise and Industry European Commission Enterprise and Industry The Stage Gate Process for R&D and New Product Development.The European Enterprise Network – Licensing as a possible alternative to in-house R&D Galway May 26th 2015 P.J. O’Reilly
  2. 2. Title of the presentation | Date |2 Aims • Prompt you to re-evaluate your own particular business concept and position with a more commercial bias. • Consider Technology Acquisition and or R&D • Consider idea generation and evaluation • Stage-gate concept • IP and its commercial value to your business • Prompt you to look at strategies and approaches to developing your own business
  3. 3. Title of the presentation | Date |3 605 partner organisations in 52 countries Geographical Spread of the Enterprise Europe Network Recent - USA, Mexico Russia, China South Korea Tunisia Japan Brazil Canada India
  4. 4. Title of the presentation | Date |4 Your Company Type and the associated Risks  Established business (improvement to existing product, introduction of a new product to existing market,  Introduction of existing product to new market) New business (new entity, new product, unknown market)
  5. 5. Title of the presentation | Date |5 Your Idea / concept Consider the following questions. • What is it • Who wants it (customer) • Why do they want it (customer need or want, competitive advantage) • Will they pay for it • What will they pay for it
  6. 6. Title of the presentation | Date |6 Idea evaluation • Evaluate novelty of idea from journals, trade information, web searches, patent searches (how new is it, will it create competitive advantage in its target market? Is there a need to use someone elses IP to produce your product? will it generate IP?) • Be sure evaluation is objective. Be cautious about subjective evaluations (eg family, friends etc) • Eliminate or shelve non commercial ideas!!! (do not get trapped by or become obsessed with a poor idea)
  7. 7. Title of the presentation | Date |7 Stage-gate concept
  8. 8. Title of the presentation | Date |8 Development Process and Stage-gate • Develop concept • Evaluate (pass or kill) • Prototype stage • Evaluate (pass or kill) • Design stage • Evaluate (pass or kill) • Design for manufacture • Evaluate (pass or kill) • Launch.
  9. 9. Title of the presentation | Date |9 Why stage-gate the development? • Development costs increase with time • It costs little to kill off a project at ideation stage • A misconceived project pushed to product launch stage or a product that does not sell, can kill your business
  10. 10. Title of the presentation | Date |10 Reality Check Risks involved in starting a business from an idea.  100 evaluated ideas results in one commercial product (100 to 1) One idea (odds remain the same 100 to 1) Critical therefore to minimise overall risk and exposure to loss
  11. 11. Title of the presentation | Date |11 Audits  Know and understand what gives your company competitive advantage and value (what do you do better than others)  The key strengths and weaknesses of your company  Where or with what person do capabilities reside within your company  Understand, record and manage these sources of competitive advantage.
  12. 12. Title of the presentation | Date |12 IP / Patents • There may be protectable IP in the future from your idea (know-how, secrecy, patents, design, copyright) do not give it away foolishly during development stage. • Consider “Real” or “Commercial” value of patent • To patent or not. Can your claims be engineered around. What strength exists in the claims. • First to market advantage
  13. 13. Title of the presentation | Date |13 Business Elements • Design, R&D, Manufacturing, HR, Finance, Marketing, Sales, Distribution, Customer relations, technical support, After-sales service. • Success requires numerous specific skill sets, clear strategies, systems and planning. • Avoid the natural tendency to hide in your own comfort zone
  14. 14. Title of the presentation | Date |14 Extracting money from an idea or starting a business??? Overall business strategy. Is your aim to make money from your idea or is your aim to start a business using your idea as a springboard. What business will you be in? What will your business look like? (lifestyle company or a multinational). Who are your customers etc
  15. 15. Title of the presentation | Date |15 Extracting money from your idea NO ONGOING BUSINESS FUTURE --- OPTIONS INCLUDE  Outright sale of idea (patented or not)  Develop business with the specific intention of selling in the short to medium term  Partnership / licensing model  Combination of above
  16. 16. Title of the presentation | Date |16 Market Development • Strategy (manufacture and sell, or license,) • Target markets, sectors, territories • Distribution channels, agents, licensees, Legislation • CE marking, compliance, certification, approvals • Packaging • Marketing materials
  17. 17. Title of the presentation | Date |17 Consider An idea in itself is commercially worthless!!! There is nothing new in this world!!! All inventors are fanatics and possessed!!! I know this is worth Millions!!!!! Build it and they will come!!!!
  18. 18. Title of the presentation | Date |18 Do’s • Start with customer view of the world • Evaluate, validate, test. early and often. • Be objective, do not fall in love with your invention • Shelve or kill projects as early as possible • Develop all aspects of business project concurrently
  19. 19. Title of the presentation | Date |19 Do’s and don’ts • Identify gaps in skills and experience and resolve them • There is assistance available, avail of it • Call us • Innovation Vouchers and Innovation Partnerships.
  20. 20. Title of the presentation | Date |20 Thank you,

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