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Tcm Workshop 1 Technology analysis

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Innovation Mapping and Innovation Project Selection Grid

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Tcm Workshop 1 Technology analysis

  1. 1. “Fast Track to Commercialization” … how to discover your One Million Dollar Business (1mdb) Stephen Ong Visiting Professor, Shenzhen University, PRC Academic Fellow in Entrepreneurship & Innovation, Anglia Ruskin University, UK 21 December 2016
  2. 2. “Is your product new, unique, and technically feasible?” Innovation SPACE™ Technology Commercialization Model Phase 1 : CONCEPT Stage 1 : DISCOVERY Step 1 : TECHNOLOGY ANALYSIS
  3. 3. 3 Today’s Agenda • 9:00 Introduction • 10:00 Technology Commercialisation Model • 11:00 Technical Attributes vs Value Proposition • 12:00 Innovation Mapping • 13:00 Have an AMAZON Lunch • 14:00 Innovation Projects Grid • 16:00 Conclusion
  4. 4. The Technology Commercialisation Model SCIENCE & TECHNOLOGY MARKET ENTERPRISE / BUSINESS CONCEPT PHASE STAGE 1 : DISCOVERY Step 1 Technology Analysis Step 2 Market Needs Analysis Step 3 Venture Assessment CREATION PHASE STAGE 2 : DO-ABILITY Step 4 Technical Feasibility Step 5 Market Study Step 6 Economic Feasibility STAGE 3 : DESIGN Step 7 Engineering Prototype / Pilot Plant Step 8 Strategic Marketing Plan Step 9 Strategic Business Plan STAGE 4 : DEPLOYMENT Step 10 Pre-production Prototype Step 11 Market Validation Step 12 Business Start-Up COMMERCIAL PHASE STAGE 5 : DELIVERY Step 13 Production Step 14 Sales & Distribution Step 15 Business Growth STAGE 6 : DOMINATION Step 16 Production Support Step 17 Market Diversification Step 18 Business Maturity
  5. 5. Step 1: Technology Analysis Is this product new, unique, and technically feasible? • The first activity to testing these new venture assumptions is to investigate the technical validity of the product. This step is called the Technology Analysis. To have commercial value, the product or service should solve a real world problem better, cheaper, or faster than existing solutions, and the feature advantages of the new product must be powerfully better than existing ones. You should remember that existing products and services are often supported by huge advertising budgets, aggressive marketing strategies, and fierce customer loyalty. It is seldom enough for an incremental improvement in a product to displace a well-entrenched product already in the market. Also, remember that product benefits take precedence over product features. Customers buy electric drills to make holes, not to get fancy cases. The purpose of this activity is to assess the intellectual property status of any technology involved in the product. This involves determining whether the product or any of its components are covered by intellectual property protection such as patents or copyrights. • Definition: The process of determining that the physical features of the concept are potentially achievable and operational. • Objective: The objectives of the technical concept analysis step are to succinctly define the concept, to assess the implementation potential of the technical aspects of the concept, and establish the uniqueness of the technical concept. • Product: The product of this activity is a verbal description, schematic, formula, conceptual model or paper design, delineating the main features of the technical concept. • Technical Activities: During the technical concept analysis step the following activities must be completed: • Define the concept fully; • Demonstrate that performance assumptions are viable; • Assess critical barriers to production; • Survey the state-of-the-art of the technology; • Estimate the working models costs. • Milestones: Provisional patent, patent, copyright, patent scan, license agreement • Funding Sources: Personal finances, MOSTI (Technofund, Innofund) • Technical Information: The technical concept analysis will usually result in knowledge about the features of the technical concept, performance expectations, prior art, and other similar or related research and development activities. • Key Questions : • Have you completed a technology database search? Have you researched related patents or copyrights? Have you researched technical journals and trade magazines? Have you discussed the topic with experts? Do you know the current state-of-the-art competitive technologies? Have you selected the technologies for the application? Have you determined the advantages of this technology? Have you determined the risks for this technology? Do the benefits of this technology or product offer significant advantages over the existing solution?
  6. 6. KEY QUESTIONS 1. Have you completed a technology database search? 2. Have you researched related patents or copyrights? 3. Have you researched technical journals and trade magazines? 4. Have you discussed the topic with experts? 5. Do you know the current state-of-the-art competitive technologies? 6. Have you selected the technologies for the application? 7. Have you determined the advantages of this technology? 8. Have you determined the risks for this technology? 9. Do the benefits of this technology or product offer significant advantages over the existing solution?
  7. 7. THE INNOVATOR’S DELUSION 1. “Our technology is so new that we have no competitors” 2. “The new technology being commercialized by our competitors will not pose a large threat” 3. “That competitor is in a different industry, and its strategies won’t affect my business.”
  8. 8. “Our technology is so new that we have no competitors”
  9. 9. “The new technology being commercialized by our competitors will not pose a large threat”
  10. 10. “That competitor is in a different industry, and its strategies won’t affect my business.”
  11. 11. Who were the Existing Solutions?
  12. 12. Value Proposition Canvas
  13. 13. Example : Taxi SmartPhone vs GRABCar
  14. 14. TECHNOLOGY PRODUCT ATTRIBUTES Existing Solutions Global Market Leader Innovation Leader Specialty Leader Local Market Leader Attributes 1. 2. 3. 4. 5. 6. 7. 8.
  15. 15. Existing Solution : BENEFITS / GAINS (+) 1. 2. 3. ISSUES /PAINS (-) 1. 2. 3.
  16. 16. Have an Amazon lunch …
  17. 17. WHERE ARE YOU ? … on the CURVE or on the next WAVE ? THE CURRENT STATE OF ART OF TECHNOLOGY
  18. 18. The NEW PRODUCT LIFE CYCLE
  19. 19. THE S-CURVE OF TECHNOLOGY ADOPTION
  20. 20. HOW LONG WILL IT TAKE?
  21. 21. While you were sleeping … DISCONTINUOUS CURVE becomes DISRUPTIVE OLD INDUSTRY HIGH TECH INDUSTRY
  22. 22. … and the next WAVE ?
  23. 23. Are you too late? Industries can decline …
  24. 24. INNOVATION MAP
  25. 25. INNOVATION MAP : SMARTPHONE WAR BEGINS 2007TECHNOLOGYCAAPABILITY CHANGE BUSINESS MODEL CHANGE INNOVATION STRATEGY DISRUPTIVE “New Way Any Job” GAME CHANGER “One Way Any Job” INCREMENTAL “Better Way Same Job” SUSTAINING “Any Way More Jobs”
  26. 26. Who are the Innovators?
  27. 27. INNOVATION MAP SCORECARD : ATTRIBUTES TECHNOLOGY CAPABILITY (+/-) • Attract top talent • Use of specialized machines • Expert skills to deliver • Own cluster of patents around technology, methodology or process • Collaborate with suppliers/customers/partners to develop new products BUSINESS MODEL (+/-) • Different ways of selling • Higher gross margins • Lower variable or fixed costs • Multiple revenue streams from different customer segments • Fast cashflow generation or low working capital needs
  28. 28. Existing Solutions Global Market Leader Innovation Leader Specialty Leader Local Market Leader TECHNOLOGY CAPABILITIES Attributes 1. Ability to attract top talent 2. Use of specialized equipment 3. Expert skills in delivery 4. Own cluster of patents in technology 5. Extensive external collaboration to develop new products TOTAL SCORE (x/25)
  29. 29. Existing Solutions Global Market Leader Innovation Leader Specialty Leader Local Market Leader BUSINESS MODEL Attributes 1. Different ways of selling 2. Higher gross margins 3. Lower variable or fixed costs 4. Multiple revenue streams from different customer segments 5. Fast cashflow generation or low working capital needs TOTAL SCORE (x/25)
  30. 30. INNOVATION MAP SCORECARD : CALCULATION COMPETITOR ATTRIBUTES TECHNOLOGY CAPABILITY (X AXIS) BUSINESS MODEL (Y AXIS) MARKET SHARE (SIZE) TOTAL RAW SCORE (s) Maximum : 25 Minimum : 0 Maximum : 25 Minimum : 0 m% XY PLOT COORDINATES : [ s*0.4 – 5 ] Maximum : 5 Minimum : -5 Maximum : 5 Minimum : -5 [m%*10]
  31. 31. YOUR INNOVATION MAPTECHNOLOGYCAAPABILITY (Existing/New) BUSINESS MODEL (Existing/New) INNOVATION STRATEGY DISRUPTIVE “New Way Any Job” GAME CHANGER “One Way Any Job” INCREMENTAL “Better Way Same Job” SUSTAINING “Any Way More Jobs”
  32. 32. EXERCISE : INNOVATION PROJECTS GRID INNOVATION ATTRACTIVENESS VS EFFORT REQUIRED
  33. 33. Innovation Project Score Grid HIGH ATTRACTIVENESS LOW EFFORT HIGH ATTRACTIVENESS MEDIUM EFFORT HIGH ATTRACTIVENESS HIGH EFFORT MEDIUM ATTRACTIVENESS LOW EFFORT MEDIUM ATTRACTIVENESS MEDIUM EFFORT MEDIUM ATTRACTIVENESS HIGH EFFORT LOW ATTRACTIVENESS LOW EFFORT LOW ATTRACTIVENESS MEDIUM EFFORT LOW ATTRACTIVENESS HIGH EFFORT
  34. 34. What’s Next for the Smartphone?
  35. 35. What to expect from MARKET LEADERS

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