The document provides an overview of tools and resources used by Ashok Dhruv LLC to maximize profits for food and beverage processors. The company utilizes 35 years of experience in technology and engineering services to help clients from concept to commercialization. This includes technical services like product and process development, financial analysis, and project engineering to improve productivity and growth. The ultimate goal is to match clients' needs with appropriate solutions in order to provide economic benefits and competitive advantages.
Booth Smith Food Technology Ltd (BSFT) is an international food technology consultancy that has been advising the food industry for over 40 years. It is headed by three managing partners and provides services such as consultancy, project management, product development, packaging, and safety/quality assurance to large companies, SMEs, and startups across various food sectors globally. BSFT takes a customized, project-based approach to helping clients through every stage of the food business process from concept to market.
PROGEMEC is an engineering services company focused on process and mechanical engineering. Since 2011, PROGEMEC has provided advanced engineering and R&D services to customers, working as a technical partner. PROGEMEC aims to become an extension of customers' engineering teams by developing close collaborative relationships and meeting all requests with specialization, flexibility and adaptation. Services include CAD, CAE, plant engineering, mechanical
PROGEMEC is an engineering services company focused on process, mechanical, and R&D services. It aims to become an extension of its clients' engineering teams by taking a collaborative approach. PROGEMEC has 7 staff with expertise in areas like CAD, CAE, process engineering, and more. It has experience serving industries like aerospace, industrial, oil and gas. Services include mechanical design, simulation, project management, and specialization in areas like renewable energies. Case studies provided examples of work done in areas like pressure vessels, heat exchangers, waste heat boilers, and flares.
dairy plant operations like Preparation of pasteurised milk, SMP, ETP or waste treatment in dairy plant. This is about concerned dairy plant OMFED, Odisha.
An introductory session to agricultural entrepreneurship will feature successful agripreneurs/industry leaders talking about how they achieved their dreams. Lessons on entrepreneurship, skills and qualities that an entrepreneur should have and the support system required for entrepreneurship will be the take home lessons from this session.
Team 18 is developing a modular attachment for optical microscopes that uses Quantitative Phase Imaging (QPI) technology to provide faster, cheaper, and more accurate results for cancer and blood disorder research compared to state-of-the-art instrumentation. They have over 100 customers including universities, bio-pharma companies, and OEMs. Key members include experts in noninvasive biomedical imaging and entrepreneurship with experience commercializing start-up technologies.
The document discusses several agribusiness incubation centers (BPDs) under the Network of Indian Agri Business Incubators (NIABI) project. It provides details on the infrastructure and facilities available at various BPDs hosted by research and academic institutes across India. These include office and lab spaces, pilot plants, libraries and specialized equipment available for startups in domains like agriculture, dairy, fisheries and food processing. The BPDs have successfully incubated 75 ventures so far, commercialized 44 technologies, and generated revenue of 23 million rupees within 18 months.
Booth Smith Food Technology Ltd (BSFT) is an international food technology consultancy that has been advising the food industry for over 40 years. It is headed by three managing partners and provides services such as consultancy, project management, product development, packaging, and safety/quality assurance to large companies, SMEs, and startups across various food sectors globally. BSFT takes a customized, project-based approach to helping clients through every stage of the food business process from concept to market.
PROGEMEC is an engineering services company focused on process and mechanical engineering. Since 2011, PROGEMEC has provided advanced engineering and R&D services to customers, working as a technical partner. PROGEMEC aims to become an extension of customers' engineering teams by developing close collaborative relationships and meeting all requests with specialization, flexibility and adaptation. Services include CAD, CAE, plant engineering, mechanical
PROGEMEC is an engineering services company focused on process, mechanical, and R&D services. It aims to become an extension of its clients' engineering teams by taking a collaborative approach. PROGEMEC has 7 staff with expertise in areas like CAD, CAE, process engineering, and more. It has experience serving industries like aerospace, industrial, oil and gas. Services include mechanical design, simulation, project management, and specialization in areas like renewable energies. Case studies provided examples of work done in areas like pressure vessels, heat exchangers, waste heat boilers, and flares.
dairy plant operations like Preparation of pasteurised milk, SMP, ETP or waste treatment in dairy plant. This is about concerned dairy plant OMFED, Odisha.
An introductory session to agricultural entrepreneurship will feature successful agripreneurs/industry leaders talking about how they achieved their dreams. Lessons on entrepreneurship, skills and qualities that an entrepreneur should have and the support system required for entrepreneurship will be the take home lessons from this session.
Team 18 is developing a modular attachment for optical microscopes that uses Quantitative Phase Imaging (QPI) technology to provide faster, cheaper, and more accurate results for cancer and blood disorder research compared to state-of-the-art instrumentation. They have over 100 customers including universities, bio-pharma companies, and OEMs. Key members include experts in noninvasive biomedical imaging and entrepreneurship with experience commercializing start-up technologies.
The document discusses several agribusiness incubation centers (BPDs) under the Network of Indian Agri Business Incubators (NIABI) project. It provides details on the infrastructure and facilities available at various BPDs hosted by research and academic institutes across India. These include office and lab spaces, pilot plants, libraries and specialized equipment available for startups in domains like agriculture, dairy, fisheries and food processing. The BPDs have successfully incubated 75 ventures so far, commercialized 44 technologies, and generated revenue of 23 million rupees within 18 months.
Ybios is a joint venture that offers a comprehensive range of services related to biodiversity in Brazil, including developing innovative product concepts and prototypes using plants for markets like cosmeceuticals, nutraceuticals, pharmaceuticals, and animal health. It has a strong R&D team that conducts ethnobotany studies and develops proof of concepts through in vitro assays and customized project management. The process involves assessing technical, scientific, and commercial viability before executing projects that include safety and efficacy testing, formulation development, and stability tests.
The Product Manager Pathfinder v2 - Steve Wells at ProductCamp Boston, April ...ProductCamp Boston
ProductCamp Boston April 2011 *********
Tips to help you accelerate your career
- Key principles to succeed in Product Management and Product Marketing
- Key practices and tools to help you progress in your career
- Audience testimonials sharing career path stories
- The document describes notes from interviews over 5 days exploring a potential probiotic supplement business model.
- Initially focusing on a single market approach, the discussions evolved to consider multiple potential customer segments including consumers, food/beverage companies, and research organizations.
- Key challenges identified included high costs for product development, clinical trials and regulatory compliance needed before partnerships or sales.
Security, Economics, Technology and the Sustainability ParadoxRory King
Security, Economics, Technology and the Sustainability Paradox: How worldwide security, economic, and technology trends, combined with the global shift to environmental compliance and sustainability, impose obsolescence, counterfeit, price/availability, DMSMS, and supply chain disruptions that must be managed. IHS discusses these issues and illustrate market intelligence tools, techniques, and best practices in managing the paradoxical risks and rewards heightened in the new generation we have entered.
This document discusses value propositions and market types for new products and services. It begins with an agenda for team presentations on value propositions, then defines what a value proposition is and common mistakes to avoid. It discusses discovering and specifying the value proposition, including defining the problem and solution. It covers developing minimum viable products for physical and web/mobile products, and testing MVPs. Examples of pivoting a value proposition based on customer feedback are provided. Finally, it discusses defining the market type - existing market, resegmented market, or new market - which determines customer adoption rates, sales and marketing strategies, and cash requirements.
Bill Stankeiwicz Copy Scope 2010 Pentair CompanyBillStankiewicz
The document discusses lean material flow in production operations. It provides an overview of Pentair, a global manufacturer, and their lean management system called PIMS. PIMS focuses on reducing waste through seven lean transformation disciplines including material flow. Effective material flow management can improve on-time delivery, costs, productivity and more. The document outlines Pentair's approach to material flow including developing a plan for every part, creating a single purchased parts supermarket, and designing a 3-year plant flow plan to eliminate forklifts except at docks.
NeoKinetics, Inc. is a consulting firm that provides strategic and operational services focused on new product introduction, product management, business development, and standards representation. They have over 100 years of experience in senior management roles and offer expertise in areas like NPI, quality management, and lean manufacturing. Their services include product marketing, engineering support, partnership development, and interim management.
This document discusses value propositions and market types for new businesses. It begins with an agenda for discussing team bus model presentations, value propositions, and the product, service, or ecosystem being offered. It then covers defining and discovering the value proposition, including specifying the minimum viable product. Finally, it discusses the four types of markets - clone, existing, resegmented, and new - and how they determine customer adoption rates, sales and marketing strategies, and cash requirements. The key topics covered are defining the value proposition, minimum viable product, and determining the appropriate market type for a new business.
Lean Launchpad Tucson - Value PropositionAaron Eden
The document outlines an entrepreneurship course focusing on developing business models, with topics ranging from value propositions and customer segments to distribution channels, revenue streams, and partnerships. It provides guidance on customer discovery activities like conducting interviews and surveys to validate value propositions. The course aims to help students refine their business ideas based on feedback from potential customers.
How much do you really know about your suppliers? How could your supply chain be impacted by a natural disaster, another recession, or limited inventories?
Global supply chains have been brought to their knees in recent years as the result of host of massively disruptive events including devastating natural disasters, economic crisis, turbulent commodity prices, product recalls, and other unforeseen disruptions. These catastrophic events including Hurricane Irene, the eruption of the Eyjafjallajokull volcano in Iceland, the Japan earthquake and tsunami, and the most recent Thailand flooding have put many suppliers out of business, leaving manufacturers stranded and production lines halted.
Executives are becoming increasingly aware of the risks of doing business on a global scale and are experiencing first-hand the havoc these supply chain disruptions pose to their bottom lines, brand reputation, and stock value.
Join Supply & Demand Chain Executive and IHS as they share expertise, tools, and best practices in supply chain risk mitigation, and supplier risk scoring. Speakers will discuss why managing risk in the supply chain needs to be a multidimensional approach taking into account:
Materials risk, knowing where volatile raw material prices are headed
Electronic Parts risk, ensuring the sustainability and authenticity of the components within your supply chain
Supplier risk, understanding what potential obstacles your suppliers might face
Global supply chains need this critical information now more than ever. Don't miss this chance to hear industry experts share actionable advice on leading tools and best practices for supplier risk management.
Ashok Dhruv, LLC provides engineering and technology services to maximize profits for food and beverage processors. With over 35 years of experience across various industry segments, they help clients from concept to commercialization through technical solutions. Their multi-disciplinary expertise and analytical approaches help clients generate tangible economic benefits and competitive advantages.
The Science of Predictive Maintenance: IBM's Predictive Analytics SolutionSenturus
Overview of IBM’s Predictive Maintenance and Quality (PMQ) solution. View the webinar video recording and download this deck: http://www.senturus.com/resources/science-predictive-maintenance/.
We show you the PMQ solution can keep manufacturing processes, infrastructure and field equipment running to maximize use and performance, while minimizing costs.
We show how you can use powerful analytics and data integration to help: Anticipate asset maintenance and product quality problems, Reduce unscheduled asset downtime, Spend less time solving production machinery and field asset problems, Improve asset productivity and process quality, Monitor how assets are performing in real-time and predict what will happen next.
Senturus, a business analytics consulting firm, has a resource library with hundreds of free recorded webinars, trainings, demos and unbiased product reviews. Take a look and share them with your colleagues and friends: http://www.senturus.com/resources/.
Astute is a recruitment consultancy specializing in power generation that offers a "Crewing-Up" service to help clients recruit large technical teams for new plants. The Crewing-Up service takes responsibility for recruiting all positions from plant managers to technicians within strict timelines while ensuring the right blend of skills. Services include creating job specifications, marketing campaigns, and setting up interview centers. A case study highlights Astute recruiting over 50 roles for a large energy from waste plant in London, assisting with job descriptions and shift schedules.
With Indian agri-food sector becoming a hotbed for MNC investment, we look at how agribusiness can help in improving the state of Indian agriculture and the need for policy regulations. The success of NIABI in furthering agribusiness opportunities through technology commercialization shows that the incubator network can play a pivotal role in promoting agribusiness in the country. A favourable environment supporting agribusiness and incubators needs to be developed so as to promote the sector.
Konica Minolta Healthcare Builds Path to PostgreSQLEDB
Many customers are concerned about minimizing downtime and achieving operational excellence. Konica Minolta, an EDB customer, was seeking stable development and production environment to support their growing client base.
In this webinar, please join Adam Bunch, Director of Engineering & Architecture at Konica Minolta, and Jamie Watt, Vice President of EDB global support service, as they share the story of Konica Minolta’s growth with the open-source PostgreSQL.
This webinar looked at:
- Konica Minolta growth challenges
- Planning stages taken with EDB: Assessment, Review, and Testing Criteria
- Production - going live with the help of Remote Database Services
- Support - ongoing guidance to address new issues or challenges
value addition and processing of agri-productssurabhi mishra
- The document discusses opportunities and challenges for value addition and processing of agricultural products in India.
- It outlines high levels of post-harvest losses on farms and in supply chains, as well as low levels of agro-processing and value addition compared to other countries.
- The document advocates for strategies like expanding processing levels, modernizing food processing sectors, and promoting seamless value chains to reduce losses and add more value to agricultural commodities in India.
The document outlines the Global Product Management (GPM) unit at Fairtrade. [1] GPM provides product expertise, tools, and strategic direction to ensure Fairtrade trade integrity and satisfy increasing demand. [2] GPM focuses on the "Big 6" products of bananas, cocoa, coffee, cotton, tea, and sugar which have the largest business impact and growth potential. [3] GPM leads product strategies through coordinating supply and demand information, developing policies, and advising on standards.
Ybios is a joint venture that offers a comprehensive range of services related to biodiversity in Brazil, including developing innovative product concepts and prototypes using plants for markets like cosmeceuticals, nutraceuticals, pharmaceuticals, and animal health. It has a strong R&D team that conducts ethnobotany studies and develops proof of concepts through in vitro assays and customized project management. The process involves assessing technical, scientific, and commercial viability before executing projects that include safety and efficacy testing, formulation development, and stability tests.
The Product Manager Pathfinder v2 - Steve Wells at ProductCamp Boston, April ...ProductCamp Boston
ProductCamp Boston April 2011 *********
Tips to help you accelerate your career
- Key principles to succeed in Product Management and Product Marketing
- Key practices and tools to help you progress in your career
- Audience testimonials sharing career path stories
- The document describes notes from interviews over 5 days exploring a potential probiotic supplement business model.
- Initially focusing on a single market approach, the discussions evolved to consider multiple potential customer segments including consumers, food/beverage companies, and research organizations.
- Key challenges identified included high costs for product development, clinical trials and regulatory compliance needed before partnerships or sales.
Security, Economics, Technology and the Sustainability ParadoxRory King
Security, Economics, Technology and the Sustainability Paradox: How worldwide security, economic, and technology trends, combined with the global shift to environmental compliance and sustainability, impose obsolescence, counterfeit, price/availability, DMSMS, and supply chain disruptions that must be managed. IHS discusses these issues and illustrate market intelligence tools, techniques, and best practices in managing the paradoxical risks and rewards heightened in the new generation we have entered.
This document discusses value propositions and market types for new products and services. It begins with an agenda for team presentations on value propositions, then defines what a value proposition is and common mistakes to avoid. It discusses discovering and specifying the value proposition, including defining the problem and solution. It covers developing minimum viable products for physical and web/mobile products, and testing MVPs. Examples of pivoting a value proposition based on customer feedback are provided. Finally, it discusses defining the market type - existing market, resegmented market, or new market - which determines customer adoption rates, sales and marketing strategies, and cash requirements.
Bill Stankeiwicz Copy Scope 2010 Pentair CompanyBillStankiewicz
The document discusses lean material flow in production operations. It provides an overview of Pentair, a global manufacturer, and their lean management system called PIMS. PIMS focuses on reducing waste through seven lean transformation disciplines including material flow. Effective material flow management can improve on-time delivery, costs, productivity and more. The document outlines Pentair's approach to material flow including developing a plan for every part, creating a single purchased parts supermarket, and designing a 3-year plant flow plan to eliminate forklifts except at docks.
NeoKinetics, Inc. is a consulting firm that provides strategic and operational services focused on new product introduction, product management, business development, and standards representation. They have over 100 years of experience in senior management roles and offer expertise in areas like NPI, quality management, and lean manufacturing. Their services include product marketing, engineering support, partnership development, and interim management.
This document discusses value propositions and market types for new businesses. It begins with an agenda for discussing team bus model presentations, value propositions, and the product, service, or ecosystem being offered. It then covers defining and discovering the value proposition, including specifying the minimum viable product. Finally, it discusses the four types of markets - clone, existing, resegmented, and new - and how they determine customer adoption rates, sales and marketing strategies, and cash requirements. The key topics covered are defining the value proposition, minimum viable product, and determining the appropriate market type for a new business.
Lean Launchpad Tucson - Value PropositionAaron Eden
The document outlines an entrepreneurship course focusing on developing business models, with topics ranging from value propositions and customer segments to distribution channels, revenue streams, and partnerships. It provides guidance on customer discovery activities like conducting interviews and surveys to validate value propositions. The course aims to help students refine their business ideas based on feedback from potential customers.
How much do you really know about your suppliers? How could your supply chain be impacted by a natural disaster, another recession, or limited inventories?
Global supply chains have been brought to their knees in recent years as the result of host of massively disruptive events including devastating natural disasters, economic crisis, turbulent commodity prices, product recalls, and other unforeseen disruptions. These catastrophic events including Hurricane Irene, the eruption of the Eyjafjallajokull volcano in Iceland, the Japan earthquake and tsunami, and the most recent Thailand flooding have put many suppliers out of business, leaving manufacturers stranded and production lines halted.
Executives are becoming increasingly aware of the risks of doing business on a global scale and are experiencing first-hand the havoc these supply chain disruptions pose to their bottom lines, brand reputation, and stock value.
Join Supply & Demand Chain Executive and IHS as they share expertise, tools, and best practices in supply chain risk mitigation, and supplier risk scoring. Speakers will discuss why managing risk in the supply chain needs to be a multidimensional approach taking into account:
Materials risk, knowing where volatile raw material prices are headed
Electronic Parts risk, ensuring the sustainability and authenticity of the components within your supply chain
Supplier risk, understanding what potential obstacles your suppliers might face
Global supply chains need this critical information now more than ever. Don't miss this chance to hear industry experts share actionable advice on leading tools and best practices for supplier risk management.
Ashok Dhruv, LLC provides engineering and technology services to maximize profits for food and beverage processors. With over 35 years of experience across various industry segments, they help clients from concept to commercialization through technical solutions. Their multi-disciplinary expertise and analytical approaches help clients generate tangible economic benefits and competitive advantages.
The Science of Predictive Maintenance: IBM's Predictive Analytics SolutionSenturus
Overview of IBM’s Predictive Maintenance and Quality (PMQ) solution. View the webinar video recording and download this deck: http://www.senturus.com/resources/science-predictive-maintenance/.
We show you the PMQ solution can keep manufacturing processes, infrastructure and field equipment running to maximize use and performance, while minimizing costs.
We show how you can use powerful analytics and data integration to help: Anticipate asset maintenance and product quality problems, Reduce unscheduled asset downtime, Spend less time solving production machinery and field asset problems, Improve asset productivity and process quality, Monitor how assets are performing in real-time and predict what will happen next.
Senturus, a business analytics consulting firm, has a resource library with hundreds of free recorded webinars, trainings, demos and unbiased product reviews. Take a look and share them with your colleagues and friends: http://www.senturus.com/resources/.
Astute is a recruitment consultancy specializing in power generation that offers a "Crewing-Up" service to help clients recruit large technical teams for new plants. The Crewing-Up service takes responsibility for recruiting all positions from plant managers to technicians within strict timelines while ensuring the right blend of skills. Services include creating job specifications, marketing campaigns, and setting up interview centers. A case study highlights Astute recruiting over 50 roles for a large energy from waste plant in London, assisting with job descriptions and shift schedules.
With Indian agri-food sector becoming a hotbed for MNC investment, we look at how agribusiness can help in improving the state of Indian agriculture and the need for policy regulations. The success of NIABI in furthering agribusiness opportunities through technology commercialization shows that the incubator network can play a pivotal role in promoting agribusiness in the country. A favourable environment supporting agribusiness and incubators needs to be developed so as to promote the sector.
Konica Minolta Healthcare Builds Path to PostgreSQLEDB
Many customers are concerned about minimizing downtime and achieving operational excellence. Konica Minolta, an EDB customer, was seeking stable development and production environment to support their growing client base.
In this webinar, please join Adam Bunch, Director of Engineering & Architecture at Konica Minolta, and Jamie Watt, Vice President of EDB global support service, as they share the story of Konica Minolta’s growth with the open-source PostgreSQL.
This webinar looked at:
- Konica Minolta growth challenges
- Planning stages taken with EDB: Assessment, Review, and Testing Criteria
- Production - going live with the help of Remote Database Services
- Support - ongoing guidance to address new issues or challenges
value addition and processing of agri-productssurabhi mishra
- The document discusses opportunities and challenges for value addition and processing of agricultural products in India.
- It outlines high levels of post-harvest losses on farms and in supply chains, as well as low levels of agro-processing and value addition compared to other countries.
- The document advocates for strategies like expanding processing levels, modernizing food processing sectors, and promoting seamless value chains to reduce losses and add more value to agricultural commodities in India.
The document outlines the Global Product Management (GPM) unit at Fairtrade. [1] GPM provides product expertise, tools, and strategic direction to ensure Fairtrade trade integrity and satisfy increasing demand. [2] GPM focuses on the "Big 6" products of bananas, cocoa, coffee, cotton, tea, and sugar which have the largest business impact and growth potential. [3] GPM leads product strategies through coordinating supply and demand information, developing policies, and advising on standards.
2. It is all about business and finance - $$$
……………………………………....…Under legal and ethical constraints…
Mission We provide Technology and Engineering services
From Concept to Commercialization – Productivity and
Food Growth
To all segments of the Food and Beverage Industry
Processing 35 years of experience and expertise – Comprehensive and
Versatile
Maximize By maximizing economic as well as consumer needs
A distinctive approach – Competitive Advantage with
Confidence
How and With technical rigor appropriate to challenge
Why? First principle, statistical or empirical analysis – Robust
decisions
2 Ashok Dhruv, LLC. (720) 318 - 9000
3. Mission –
Provide tangible and material By:
economic benefit
• application of scientific and
To Food and Beverage Processors, engineering principles and
On a Time Effective basis practices
Because • Leverage IT revolution
• Consumer wants and needs are • computing power
rapidly changing • data access - internet
• Technology is available
• value generation
With Employment of skills and • bridge gap between
resources on as needed basis generation and use of
information
3 Ashok Dhruv, LLC. (720) 318 - 9000
4. First things First – Fulfill a BUSINESS NEED
Match resources – technology and engineering to need
Product life cycle Growth share matrix
4 Ashok Dhruv, LLC. (720) 318 - 9000
5. From farm to food – industry and commerce
Proteins
Fractionation of Casein
Agricutural produce Soy Isolate
Fats and Oils Carbohydrates
Ghee, Butter Agricultural products Starches,
Cookin Oil, Shortening Sweetners
Lard, Tallow
Fruits and Vegetables
Bio-Diesel Corn, Soy, Peanuts, Beans Bio-Ethanol
Milk, Fish
Meat - Poultry
Essential nutrients Animal feed
Fiber Bio-Waste
Vitamins and
Minerals
Commodity products are enablers for consumer products
5 Ashok Dhruv, LLC. (720) 318 - 9000
10. Services: Project Engineering – Support to PM
Coordination of disciplines and other technical inputs
10 Ashok Dhruv, LLC. (720) 318 - 9000
11. Services: Financial analysis – ROI, NPV, IRR
Fixed and Variable costs – Factored Capital cost estimate
Total project costs based on factors for project components
Value and Basis of factors
Food/Pharm. Food/Pharm.
industry factor industry factor
Category Engineers Aide PI CS SS Engineers Aide PI CS SS
Equipment 20.70% 20.70% 34.31% 28.87% 28.90% 44.84%
Installation 9.80% 9.73% 8.06% 13.67% 13.58% 10.53%
I&C 3.70% 3.73% 3.09% 5.16% 5.21% 4.04%
Piping and Valves and fittings 13.70% 13.66% 11.32% 19.11% 19.07% 14.79%
Electrical and lighting 2.30% 2.28% 1.89% 3.21% 3.18% 2.47%
Building and services 3.70% 3.73% 3.09% 5.16% 5.21% 4.04%
Land and site work 3.30% 3.31% 2.75% 4.60% 4.62% 3.59%
Utilities and service facilities 14.50% 14.49% 12.01% 20.22% 20.23% 15.70%
Total direct costs 71.70% 71.63% 76.52% 100.00% 100.00% 100.00%
Engineering, design, management 6.80% 6.83% 5.66%
Construction expenses and fees 12.80% 12.84% 10.63%
Total contingencies 8.70% 8.70% 7.20%
Total indirect costs 28.30% 28.37% 23.49%
Total project costs 100% 100% 100%
11 Ashok Dhruv, LLC. (720) 318 - 9000
15. Concept to commercialization
Business
Case
Evaluation of Business opportunity:
Growth – New product / Line Extension
Productivity – Cost reduction
Business fit – strategic / tactical
Research and Development
Concept Market insights- Share / Niche / Need
development Technical problem solving
Refine techno-economic assumptions
Feasibility studies – Process definition
Basic / Preliminary in detail
Technical / Economical
Engineering Sensitivity analysis
PFD / P&ID / Data sheets
Cost estimate +/-: 15-30 %
Engineering and documentation
Detailed Engineering Drawings / Specifications
Request for Proposal / Quotation
Bids / Quotes – analysis
Cost estimate +/-: 10-20 %
Procurement Purchasing and follow Up
Bid award / Purchase orders
Fabrication Assembly drawing
approval
Inspection /Expediting / FAT
Construction / Installation
Construction / Installation
Mobilize trades
Dry runs
Electro / Mechanical completion
Cost estimate +/-: 10-15 %
Start-Up and Commisioning Start Up and Commissioning
Wet runs / Training / SAT
Commission/Qualify/Validate
Cost estimate +/-: 10 %
15 Ashok Dhruv, LLC. (720) 318 - 9000
16. It is all about business and finance - $$$
……………………………………....…Under legal and ethical constraints…
Mission
Food To all segments of the Food and Beverage Industry
Processing 35 years of experience and expertise – Comprehensive and
Versatile
Maximize
How and
Why?
16 Ashok Dhruv, LLC. (720) 318 - 9000
17. Food and Beverage Processing
A generic outline – the common basis
Transport processes
Heat transfer
Mass transfer
Momentum transfer Output
Input Food product
Raw materials Protect and
Water Package • Safety – Microbial
Carbohydrates
Retrival and • Shelf life
Storage Bulk • Nutrition
Proteins Retail
Fats and Oils • Sensory aspects
Kinetics – Reactions
Microbial
Enzymatic
Bio-Chemistry Return on
Investment
17 Ashok Dhruv, LLC. (720) 318 - 9000
18. Bakery: Experience by Industry Segments
Selected examples
Bakery Cereals
• 20 MM Artisan Bread • General Mills
• 25 MM Duncan Hines • 130 MM Grassroots
• Aurora foods /Fru-con • Arizona
• 35 MM Expansion
• 8 MM Gourmet Cake
• Cedar Rapids
• Refrigerated Dough •8 MM Addition
• Earthgrains • Bugles / W. Chicago
• Single serve cup Granola
cakes
• Extruded corn @ F/L
• Sara lee / F-L
• Rumbles
• Hot Pockets - Fruit
Ashok Dhruv, LLC. (720) 318 - 9000
18
20. Meat: Experience by Industry Segments
Selected examples
Bulk Meat Emulsified /
• Kill floor design – Comminuted /
Hogs Restructured meats
• Freezer comparisons • Pizza toppings
• PSE reduction
• Doskocil foods
• Drip loss
• Dim Sum items – 3I
• Mathematical model • 50 % TSP
• Myosin Kinetics • Simulates Steaks – 3I
• Pet Foods -
Ashok Dhruv, LLC. (720) 318 - 9000
20
21. Experience by Industry Segments
101
Meat Abattoir – Generic Flow Diagram 104
106
Hot water
Hogs From supply pens Fresh water
140 F
108
X-101 X-102 102 X-103 102 X-104 102 X-105 102 X-106 103 X-107 X-108
To Gambrieling
Stun Position Stick Shackle Cold water dip Scald Dehair Gambril
102
From stunning
108
105 107 To Gambrieling
Scald Purge Hair and water
124 119 116 109
Hot water Hot water Gas supply Cold water supply
115
123 X-114 121 118 To Singeing
X-116 X-115 X-113 X-112 X-111 112 X-110 110 X-109
To final wash Final shave To final shave From Singeing
Head cut off Final wash Hot water wash Singeing Toe-nails pinch off Manual shaving Cold water spray
Clip eye lids
126
From Final wash
127 125 122 120 117 114 113 111
Cut Heads Hot water purge Shavings Hot water purge Gas exhaust Toe -Nails Shavings Cold water discharge
128
After head cut off
X-122
X-121 X-123 X-124
X-117 X-118 X-119 X-120 Eviscerate
Eviscerate Eviscerate Eviscerate
Open carcass 128 Remove aitch bone 130 Open breast bone Bung drop 132 134 Thyroid 136 138
130 Lung, heart, liver,etc Kidneys Split carcass
After opening After aitch To evisceration To thyroid To kidney From kidney
To bung drop removal removal Evisceration
carcass bone removal 133
Liver, lung, heart
131
129 etc.
Bung 138
Aitch bone To B&B trim
135 137
Thyroid Kidneys
141
Wash water
144
Water
X-130 X-128
X-125
X-132 X-131 Grading X-129 Washing X-127 X-126
Trim
Chilling 146 Water spray 143 pH measure 143 Scaling 143 Carcass / Neck 140 Ham facing 140 Leaf fat removal 138
Bruises and blemishes
To chilling To water spray From scale To scale After ham facing After leaf From B&B trim
fat removal
147 145 142 139
To Equilibration Water discharge Wash water purge Leaf fat
X-133
Ashok Dhruv, LLC. (720) 318 - 9000
Equilibration
148
To Fabrication
21
22. Dairy: Experience by Industry Segments
Selected examples
Commodities Consumer products
• Milk proteins - • Real cheese
• Casein/ Caseinates • Edam / Gouda
• Non Fat Dry Milk • Cheese spreads
• Whey solids • Processed - American
• Soy proteins • Non Dairy - Analogs
• Isolates
/ • Cream cheese
Concentrates • Mozarella
• Enzyme Modified • Processed American
Cheese • Soy cheese
• Yogurt
Ashok Dhruv, LLC. (720) 318 - 9000
22
23. Dairy – Stirred yogurt example
Source: Dairy Processing Handbook. Published by Tetra Pak Processing Systems AB, S-221 86 Lund, Sweden. pg. 249.
Process improvement – P&F HX with corrugated tubes
Ashok Dhruv, LLC. (720) 318 - 9000 23
25. Challenge: Temperature and Pressure profile
Double, multi tube – Corrugated or Spiral
•Generic approach
• Assume pressure drop
• Derive Viscosity, Velocity, Shear profile
• Predict U, Derive T Vs length profile
Provide
Insight
• Pick L for T< 100. Calculate Del P
• Iterate with new Del P Explore
ideas
• Add Del P for elbows
Evaluate
design
• Summarize results alternatives
25 Ashok Dhruv, LLC. (720)
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26. Expertise by Industry Segments
Selected examples: Thermally Processed Foods
Western Indian / Oriental
• Gravies • Dals / Sambhar
• Meata food dishes / • Curries
Pet Foods
• Veg. / Non-
• Dips - Cheese Vegetarian
• Salsa • Dairy (Non too)
• Soups with sweet dishes
Particulates • Rabdi / Basundi /
Ras-Malai
• Fruit fillings
• Purees / Concentrates • Liquid pre-mixes
• Pie fillings • Soups
Ashok Dhruv, LLC. (720) 318 - 9000
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29. Beverages – Hot Fill, Chilled, Aseptic
Ingredient properties of interest
Typical ingredients to consider: Physical properties:
HFCS Density, Viscosity, Specific heat,
Liquid Sugar thermal conductivity and surface
“Base – concentrate” tension
Fruit concentrates – Mango, Guava, Particle size and distribution
Banana, etc Chemical properties: Reaction rate
Proteins constants and Activation Energy
Gums and processing aids Microbial properties:
Spices Ni, F0 , z, D TR for target organism /
Allergen containing range.
“Beads” – formulated additives Above corresponding values for
Functional aids – nutrition, specific Enzymes. Example - Peroxidases,
health benefit Pectin Galacto-Uranse for fruits
and veggies, etc.
Ethnic ingredients – flavorings, etc.
And / or Reaction rate constants
and Activation Energy
29 Ashok Dhruv, LLC. (720) 318 - 9000
31. Beverages – Conceptual PFD
Blend to thermal
Stm.
Xx psi
208 E-201 251
209 RO Water Filler return
RO Water RO water pre heater xx GPM @ psi
xx gpm @ xx psi xx Sq. ft, xx BTUH T-2431 178 F
xx F, 304 SS tube, CS shell
206 Filler return tank
RO Water 223 250 Gal.
Cond. 290
xx GPM @ xx psi 207 Feed to hold tibe
Xx gpm
xx F, RO Water
316 SS CTS
205 xx F
xx gpm @ xx psi xx GPM @ xx psi
55 % HFCS xx F,
78 F
252
M-2110/2120
204 Filler return to
BTA motor Divert cooler
42 % Sucrose
291
221 E-97P-23
Recycle
203 xx GPM @ psi
Bev Base 90 F E-201 E-202 E-203
202 Heater Trim cooler Divert cooler
M-2100 M-103 293
Citric Acid xx BTUH, xx Sq. ft. xx BTUH, xx Sq. ft. xx BTUH, xx Sq. ft.
PMT motor BT motor
201
Flavor Cloud A-2100 292
xx lbs/hr Pre-mix tank CTS
xx F, agitator T-2110 / 2120 295
294
Blend tank CTR
xx rpm, xx hp
xx ft Dia. X xx ft TT 224
xx Gal Discharge from
316 SS Trim cooler
T-2100 231 xx F
222 RO Water
Pre-mix tank T-103 Blend to Thermal
xx ft Dia X xx ft TT Balance Tank HP Stm.
Xx psi
xx Gal. xx ft Dia. X xx ft TT 230
316 SS A-2110/2120 316 SS HX - RO Water
T-2430
Blend tank agitator A-103 Recirculation loop
xx GPM @ xx psi Filler supply tank
xx rpm, xx hp 220 Blend tank
xx F 500 Gal. 225
Blend agitator
210 xx ft Dia X xx ft TT Filler supply
xx rpm, xx hp
Premix 316 SS xx gpm @ xx psi
210 220 xx F
Premix Blend 222 230 Cond. return E-202 225
xx GPM @ xx psi xx GPM @ xx psi Blend to Thermal RO water heater Filler supply
xx F xx F xx Sq. ft, xx BTUH
304 SS tube, CS shell
P-2101 P-2130/2131 PP-2434
Pre- mix pump Blend pump Filler feed pump
xx gpm @ xx TDH xx gpm, xx TDH P-2411 PP-2411 105 GPM @ 35 ft
M-121
316 SS 316 SS Balance tank pump Product feed pump 7.5 HP
Pallet jack
xx gpm @ xx TDH 115 GPM @ 100 ft TDH
xx Tons
316 SS
31 Ashok Dhruv, LLC. (720) 318 - 9000
33. Beverages – Conceptual PFD
Labeling to Warehouse
401
Cooled bottles
500 BPM
90 F,
402
Label roll
L-401 A/C
Labeller 405
404 Filled Cases
Labeled bottles
406
Pallets P-52
Case Packer
VarioPack or Hi-Cone P-401
403 Palletizer W-401
Labeled bottles Shrink Wrapper
412
Formed cases P-55
A-401
Labeled Bottles
Accumulator
xx ft X xx ft, xx min
304 SS
411
Case stock
Case Former
33 Ashok Dhruv, LLC. (720)
318 - 9000
34. Beverage Processing Equipment
•Ingredient storage environments – •Homogenizers - Piston type –
Atmospheric, refrigerated, perforated disk, Colloid mill, Shear
controlled atm. pump
•Mixers / Blenders – •Heat exchangers – “Pasteurizer”,
•Surge tanks – Blend, Balance, Trim Cooler, Divert cooler, Regen’s,
Filler Supply Recoverer’s, Plate and Frame,
Double tube – tube in tube, Multi –
•Rinsing - Air only, Water – with tube
conservation
•Thermal microbial processors -
•De-Aerator - “Versator” type – Hold tube
Mono layer film under vacuum,
Coalescing type •“Warmers” – tunnel pasteurizers
•Convective diffusion type – •Inverter / Side layer, Alternates
pressure differential / Vacuum •Filter
•Disk centrifuges •For small bottles – filler, capper
•Evaporator - TASTE •Bottle cooler
34 Ashok Dhruv, LLC. (720) 318 - 9000
35. Beverage Processing
Unit Operations and Unit Processes
Unit Operations: Unit processes:
Dissolution, Dispersion,
Suspension HRM control – Hold tube
Hydration / Size reduction
Target organism – Bottle HF
Shearing –
Target organism – Caps –
• Pipe flow, Pumps, Agitators, inversion
Filler inner tube, Valves,
accessories Product / process / package
combinations for all other
Homogenization / Emulsification products
• Desirable – Cloud - oil in Oxidation – Unsaturated fats and
water Un-desirable – foaming Oils rancidity
- air in water
Citric Acid Oxidation in Juices
De-aeration – Coalescence
Enzymatic hydrolysis
Coagulation – gum thro
Diffusion – Oxygen control Enzyme de-naturation –
pectinase
Heating / Cooling /
Regeneration / Heat recovery
Centrifugation
35 Ashok Dhruv, LLC. (720) 318 - 9000
36. It is all about business and finance - $$$
……………………………………....…Under legal and ethical constraints…
Mission
Food
Processing
Maximize By maximizing economic as well as consumer needs
A distinctive approach – Competitive Advantage with
Confidence
How and
Why?
36 Ashok Dhruv, LLC. (720) 318 - 9000
39. Yield - Hog Carcass chilling – Myosin
denaturation in chilling , PSE and drip loss
Calculation of Myosin denaturation :
.01 34 1 cal
pH tc 7.0 tc min pH 160 K0 2.13 10 60 min E 43500 454
min mole
E
Exp Exp TAvgF 45 R
Rgas TAvg 5
E
Rg as T Av g tc 1.3 pH tc 1
Krate tc K0 e 10 Krate 7 min
160
Conv tc Krate tc dtc Conv 160
0
160
LnConv
LnConv Krate tc dtc min LnConv Conv ratio e Conv ratio
0
FractionMyoDe 1 Conv ratio Measure of Chemical Treatment
FractionMyoDe
Pdrip 4 60 FractionMyoDe Percent drip loss P
Ashok Dhruv, LLC. (720) 318 - 9000 drip 39 tc 0 5 300
40. Sensory perception - Texture – Peach firmness
Combine time – temperature with Enzymatic
Kinetics
Temp, Firmness and PG Conc. of peaches
70 70
Temp F, Firmness, N, PG Concentartion
60
T MW ( )
R 50
40
Firm ( )
30
PG( ) 100
20
10
0
0
0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 1
0 1
Time, minutes
Ashok Dhruv, LLC. (720) 318 - 9000 40
41. Safety: F0 – Pasteurization and Microbial kill
Calculation of extent of Pasteurization :
TRef 180 R z 10 R
4.359 min
min T Avg( ) T Ref
z
FTPast 10 d min FTPast 37.228 s
0
Calculation of Microbial kill :
EClB
40 1 4 4
K0ClB 2 10 s EClB 3.73 10 Rgas K 3.73 10 K
Rgas
EClB
Exp Exp 101.745 TAvg ( 8) 196.762 R
Rgas TAvg ( 15) 460 R
EClB
R gas T Avg( ) 460 R 3 1
KClB K0ClB e KClB( 7) 3.534 10 min
min
4
Ln citocfClB KClB d min Ln citocfClB 2.403 10
0
LncitocfClB
CitoCfClB e Measure of Safety
CitoCfClB 1.00024
4
LogRedClB log ( e 10) Ln citocfClB LogRedClB 1.044 10
Ashok Dhruv, LLC. (720) 318 - 9000
41
42. Extend shelf life – Enzyme deactivation
Prevent enzymatic degradation with time
Peroxidase activity drop in heat period
200 200
Activity ratio, ; Avg Temp deg F
180
Ratio POD( ) 160
min
140
%
120
T Avg( ) 100
R 80
60
40
00 20
0
0 1 2 3 4 5
0 5
Time in heating MC tube, minutes
Ashok Dhruv, LLC. (720) 318 - 9000
42
43. Nutrition
Vitamin B1 – Thiamin kinetics
Calculation of Nutrition destruction :
Based on Vitamin B1 - Thiamin, Kinetics
EB1
9 1 4 4
K0B1 2.19 10 s EB1 1.18 10 Rgas K 1.18 10 K
Rgas
EB1
Exp Exp 32.187 TAvg ( 8) 196.762 R
Rgas TAvg ( 15) 460 R
EB1
R gas T Avg( ) 460 R 3 1
KB1 K0B1 e KB1( 7) 1.074 10 min
min
4
Ln citocfB1 KB1 d min Ln citocfB1 7.046 10
0
LncitocfB1
CitoCfB1 e CitoCfB1 1.000705
4
LogRedB1 log ( e 10) Ln citocfB1 LogRedB1 3.06 10
43 Ashok Dhruv, LLC. (720) 318 - 9000
44. It is all about business and finance - $$$
……………………………………....…Under legal and ethical constraints…
Mission
Food
Processing
Maximize
How and With technical rigor appropriate to challenge
Why? First principle, statistical or empirical analysis – Robust
decisions
44 Ashok Dhruv, LLC. (720) 318 - 9000
45. Why and How –
Application of sound Science and Engineering
Apply tenets of chemistry
Heat transfer
Microbiology
Mass transfer
Enzymes
Momentum transfer
Bio-Chemistry
Kinetics
Organic Chemistry
Chemical engineering analysis
Ashok Dhruv, LLC. (720) 318 - 9000 45
46. Why and How – Mathematical modeling
Application of sound Science and Engineering
Physical form Physical laws
Product
Raw materials
Physical / Chemical By-products
Utilities
Process Waste streams
Labor
Equipment
Mathematical Laws of Math
form
Physical properties Mathematical Microbial log cycle reduction
Operating conditions Constitutive Eqn. Enzyme deactivation. amount
Assumptions Ini. & Boundary cond. Objective sensory quality
46 Ashok Dhruv, LLC. (720) 318 - 9000
47. Why and How –
Time – Temperature Profile
Particle
tc x0 y0 z0 A x A y A z Bx tc p By tc q Bz tc r Cx x0 p Cy y0 q Cz z0 r
p q r
p q r
Tf tc x0 y 0 z0 ta Ti ta tc x0 y 0 z0 460 R
Fluid
4 U cal D min
2
d f C Pf
T Avg t fwall T fi t fwall e
Measure of
Thermal
treatment
Conduction and Convection
47 Ashok Dhruv, LLC. (720) 318 - 9000
48. Why and How –
Time – Temperature Profile in a particle
Time t o h eat fruit piece in puree
210
175
190 3 5
1
T f tc 0 0 0 R
170
Temperature, deg F
150 130
x y z 1
T f tc R
in in in 130
110
1 Particle
T Av gF tc R 90
70
50
30
0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5
tc
Tim e of heating, m inutes
Required for Kinetics of Conversions
Ashok Dhruv, LLC. (720) 318 - 9000 48
49. Why and How –
Myosin denaturation – drip loss and PSE
Calculation of Myosin denaturation :
.01 34 1 cal
pH tc 7.0 tc min pH 160 K0 2.13 10 60 min E 43500 454
min mole
E
Exp Exp TAvgF 45 R
Rgas TAvg 5
Krate t c K0 e
E
R g as T Av g tc
10
1.3 pH tc
Krate 7 min
1 Kinetics
160
Conv tc Krate t c dt c Conv 160
0
160
LnConv
LnConv Krate tc dtc min LnConv Conv ratio e Conv ratio
0
FractionMyoDe 1 Conv ratio FractionMyoDe
Pdrip 4 60 FractionMyoDe Percent drip los s Pdrip tc 0 5 300
Measure of Chemical Treatment
Ashok Dhruv, LLC. (720) 318 - 9000
49
50. Why and How – Application of Statistics
Probability of Failure and Sample size
ICMSF – International Committee on Microbial Safety in Foods
50 Ashok Dhruv, LLC. (720) 318 - 9000
51. Why and How – Application of Statistics
Probability of Failure, Sample size and Enrichment
ICMSF – Enrichment implications and constraints
Ashok Dhruv, LLC. (720) 318 - 9000
51
52. Why and How – Safety: Salmonella and Listeria
Combining Heat transfer with Microbial death Kinetics
Microbial death kinetics – Salmonella and Listeria
52 Ashok Dhruv, LLC. (720) 318 - 9000
53. Why and How: Non-Newtonian flow
Velocity profile in a tube -
Velocity in z direction
3 3
2.75
2.5
2.25
Velocity, ft / sec
v z( r) 2
1.75
ft
s
1.5
1.25
1
0.75
0.5
0 0.25
0
0.015 0.01 0.005 0 0.005 0.01 0.015
Ri r Ri
Radial distance, in
trace 1
Required for Kinetics of Conversions
Ashok Dhruv, LLC. (720) 318 - 9000
53
54. Why and How: Scarped Surface Heat Exchanger
Shear rate in radial and axial direction
Shear rate as afunction of radius, SSHE
240 240
Shear rate i n per secon d
190
( r in ) s
140
90
z( r in ) s 10 40
10
110 60
110
1.5 1.6 1.7 1.8 1.9 2 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9 3
1.5 r 3
Radial distance, inches
Shear rate, radially
Shear rate, axially
Measure of Mechanical Damage
Ashok Dhruv, LLC. (720) 318 - 9000
54
55. Why and How – Disk Centrifugation
Application of sound Science and Engineering
55 Ashok Dhruv, LLC. (720) 318 - 9000
56. Why and How – Evaporation
Beverage Processing – Unit operations: Evaporation
Flavor and Aroma loss in Juice Processing
56 Ashok Dhruv, LLC. (720) 318 - 9000
57. Why and How –Process recovery inPET
Hot fill Vs Aseptic Heat - Beverages in HF
Application of sound Science and Engineering
57 Ashok Dhruv, LLC. (720) 318 - 9000
58. Why and How – TemperatureBeveragesHF PET
Hot fill Vs Aseptic Process - profile in in
– Bottle cooling comparisons
58 Ashok Dhruv, LLC. (720) 318 - 9000
59. Why and How – Process - Beverages in PET
Hot fill Vs Aseptic
Hot Fill Vs Aseptic comparison
59 Ashok Dhruv, LLC. (720) 318 - 9000
60. Open Innovation – Evolution
Research Acquire Connect
and and and
Develop Develop Develop
60 Ashok Dhruv, LLC. (720) 318 - 9000
61. What is Open Innovation Anyway – Really?
The exact opposite of NIH
– Not Invented Here
Syndrome
61 Ashok Dhruv, LLC. (720) 318 - 9000
62. What is Open Innovation Anyway?
Open Innovation is a term promoted by Henry Chesbrough, a professor and executive director at the
Center for Open Innovation at Berkeley.
The central idea behind open innovation is that in a world of widely distributed knowledge,
companies cannot afford to rely entirely on their own research, but should instead buy or license
processes or inventions (i.e. patents) from other companies. In addition, internal inventions not being
used in a firm's business should be taken outside the company (e.g., through licensing, joint ventures,
spin-offs). In contrast, closed innovation refers to processes that limit the use of internal knowledge
within a company and make little or no use of external knowledge. Some companies promoting open
innovation include Procter & Gamble, Innovation Exchange, NineSigma, InnoCentive, yet2.com, and
IBM.
Prior to World War II, closed innovation was the paradigm in which most firms operated. Most
innovating companies kept their discoveries highly secret and made no attempt to assimilate
information from outside their own R&D labs. However, in recent years the world has seen major
advances in technology and society which have facilitated the diffusion of information. Not the least
of these advances are electronic communication systems, including the internet. Today information
can be transferred so easily that it seems impossible to prevent. Thus, the open innovation model
states that since firms cannot stop this phenomenon, they must learn to take advantage of it.
It is the business model of the firm that determines what external information to bring inside, and
what internal information to take outside.
62 Ashok Dhruv, LLC. (720) 318 - 9000
63. Open innovation
Other firm´s
market
Licence, spin Our new
out, divest market
Internal
technology base
Internal/external Our current
venture handling market
External technology
insourcing
External technology base
Henry Chesbrough, 2004
63 Ashok Dhruv, LLC. (720) 318 - 9000
66. Ashok Dhruv
Acumen @ Business Dedicated to team
Sound Technically Hands on
Highly Motivated Robust @ Financials
Out of the Box Universal Approach
Keen on Results Varied Experience
66 Ashok Dhruv, LLC. (720) 318 - 9000
A working definition is that open innovation is the inverse video of NIH – Not Invented Here Syndrome. And as this colloquial definition implies, the challenge in pursuing open innovation has much to do with entrenched attitudes and reward structures of internal staff.Despite these challenges, the promise of propelling innovation, achieving competitive differentiation, driving sales, and thus building shareholder value has made open innovation a mantra for many big companies.
For those who may be new to the concept of Open Innovations, I would invite you to see wikipedia for a comprehensive definition and discussion of the theoretical concept. You’ll notice that much of the thought leadership on the topic comes from Henry Chesbrough, a professor at Berkley, who wrote a very influential book on the subject. In summation, the concept states that a firm should not rely solely on its internal staff and resources to produce innovations, it should look outside for other sources of innovation. And, it should seek to exploit innovations that it produces by licesing/selling it to outsiders.