The document discusses key areas to consider for innovation including creating a "mind trust" through education, the politics of innovation through government policy, limitations of business incubators and entrepreneurs, and the value of market intelligence and professional research. It argues that information reduces risk and uncertainty and helps with planning, decision making, and better outcomes through justifying goals and managing expectations. Preparation for entrepreneurs includes keeping records, understanding gaps, accessing expert research assistance, and business planning.

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Business
Planning
The Political Economy of Innovation:
Concept to Formation to IPO

2. 4 Key Areas to Ponder
• Creating a Mind Trust
• The Politics of Innovation
• The Limitations of the Business
Community
• The Limitations of the
Entrepreneur
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3. Mind Trust
• Shared Investment
• It is the link between economy and
innovation
• Middle Ground between Mind Trust and the
Politics of Innovation
• Education
• Education: Secondary and Post Secondary
• Support for Small Business of Start Up MBA
• High School Acadamies
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4. Political of Innovation
• What governments do and don’t do
• Policy Innovation
• Creating Conditions Where Cream
Rises to the Top
• Competition
• IP Streamlining
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5. Limitations of Business
Community
• Limits of Incubators and Accelerators (even
Crowdsourcing)
• Money is not going to solve any innovation
of business problem
• Business Community is full of Skeptics
• Less Optimists
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6. Limitations of Entrepreneurs
• Sometimes Own-worst-enemies
• Arrive at important business decisions by
assumption
• Do-it-All mentality
• Doesn’t play to strengths
• Don’t delegate
• Cookie Cutter Solutions don’t always work
• What works for others don’t always work for
you
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7. Limitations of Entrepreneurs
• Serial SBIR/STTR Grant Recipients
• Job security through grants
• Will never grow out of the lab
• Inability to Create a Compelling Business
Case
• Information Asymmetry
• Sometimes business leaders don’t trust the
data
• Poor Reasoned Decision Making
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8. There is a solution…
“In preparing for battle, I have always found
that plans are useless but planning is
indispensable” –Dwight D. Eisenhower
•A Small Investment in research and competitive
analysis ($1000 – 4000)
•Create Business and Commercialization Plans
•Should be done early (Concept and Start-Up
Phase) in a Company or Product Lifecycle
•Updated Regularly
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Defining the Value of Market
Intelligence
 External:
– Market Risk Mitigation
– Market Risk Exposure Reduction
– Leveraging knowledge against exigencies of the market and
overall product performance
– Reduces uncertainty
 Internal:
– Effective market benchmarking
– Define Investment Opportunities
– Support Strategic Partnerships; Understand Supply Chain
– Support Financing
– Support Go-To-Market Strategy
– Understand Customers and Define Value

10. We live in a business world
where…
- The business environment is clouded with seemingly
contradictory information
- We are bombarded with new information constantly
- We don’t always know what constitutes the right
information…or how it effects how we make decisions
- We need to stay current and informed about our
direction
- We lack the tools for information symmetry, to remain
competitive
- We need to plan ahead
WE NEED INFORMATION
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11. Information…
• Reduces risk
• Increases certainty
• Is the creator of goals and objectives
• Increases the ability to plan
• …To execute
• …To DECIDE
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Advantages of Professional
Research
Professional Research achieves:
 Timely
 Current
 Consultative
 Known, fixed budget. No added headcount.
 Broad range of knowledge
 Access to information on key markets
 Knowledge of how to utilize information
 Helps you make intelligent decisions quickly
 Provides recommendations to help your business planning

13. Outcomes Matter
• Information is important
• Create models
• Can justify and clarify goal setting
• Determine realistic expectations
• Mitigate hazards and barriers to growth
• Use information to increase chances of
success and beat the information
asymmetry war
• Better Outcomes = Better Payoffs
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14. Preparation for the Entrepreneur
• Keep accurate records of profit and loss
• Get sales
• Understand the some of the gaps and needs
• Get a Professional to Conduct Research
• Access to data beyond the internet
• Used to making market intelligence assessments
• Create modeling options
• Business Planning
• Make a list of Compromises
• Consider Budget and Timetable
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15. Thank you
QUESTIONS?
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