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Евгений Буфф: Инновации: поиск и коммерциализация

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2010-6-17 JW Graham talk
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Евгений Буфф: Инновации: поиск и коммерциализация

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#poSEEDelki с Евгением Буффом, MD, PhD — основатель и президент Primary Care Innovation Consulting и UsTech Discovery LLC.

#poSEEDelki с Евгением Буффом, MD, PhD — основатель и президент Primary Care Innovation Consulting и UsTech Discovery LLC.

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Евгений Буфф: Инновации: поиск и коммерциализация

  1. 1. Personalized Innovation Management, Sustainable Growth & Value Creation Innovation, Technologies, Commercialization Dr. Eugene Buff, CLP, RTTP
  2. 2. Statistics 6 in 1 Million ideas or concepts becomes a successful business or successful company Bankruptcies occur for 60% of high tech companies that succeed in getting venture capital Mergers and liquidations occur in 30% of start-up companies. 10% of start-ups that succeed compensate for the other 90% of the companies in the venture capitals investment portfolio. Having a talented CEO greatly increases the chances of the success for the startup. Portfolios are returning 4 or 5% on an average in the venture business, versus expectation of 100% © Janet George, 2006
  3. 3. Fighting the Product Development Paradigm Total Product Life Cycle Birth to Death Expenditures 1000 Ideas 100 Trials 10 Products 1 Success + Sales Curve Patent Filed Licensees Profits Sought Idea 0 + Reduction to Practice Shutdown Costs Total Expenditure/Profit Curve Pilot Plant Marketing Starts 10+ Years Up to $100MM 1. Could we be more efficient? 2. Could we move faster? 3. Could we save (spend less!) money?
  4. 4. A Technology = A Product Technology – an applied science to solve a problem Many steps required to make a product out of technology -Further Development -Validation research -Prototype -Scalability -Regulatory approval -Partnership -Market Research -Initial sales… Can require MANY YEARS and extensive resources Make Deals & Build Up Businesses
  5. 5. Speed of Business Moore’s Law – computing power roughly doubles every 18-24 months. Since the invention of integrated circuit, 1958 - ~27 times Car speed illustration: Start at 5 mph – double every minute (in the 3rd minute at 20pmh you would cover 1,760 feet) At the 27th cycle … 671 million miles per hour!!! (in the 28th minute you would cover 11 million miles. At that speed it would take just five minutes to get to Mars!)
  6. 6. About Innovation Innovation =/= Creativity Creativity – generation of new ideas Innovation =/= R&D Research – creation of new knowledge (question is known) Development – application of knowledge (spec. is known)
  7. 7. Satisfycing, NOT Optimizing I don’t Have To Be The Fastest, Just Faster Than You Something fresh (new, original, improved) Creates value This is INNOVATION: - It is NOT about new products, NOT about new processes or new ideas... - It IS about staying one step ahead of your competition. “The probability does not work in real world; it is pay off that matters.” Nassim Taleb. Antifragility. A PROCESS! vs EVENT – an invention ...
  8. 8. Models of Innovation Linear: Research – Development – Production – Marketing. Chain Link (Kline-Rosenberg): Stephen JKline and Nathan Rosenberg,“An Overviewof Innovation,” The Positive Sum Strategy: Harnessing Technology forEconomic Growth, Ralph Landau and Nathan Rosenberg (eds.)(Washington,DC National Academy Press, 1986),p 290
  9. 9. Reality Check
  10. 10. Technology Transfer Road Map
  11. 11. So what?
  12. 12. Technology Is Not Enough! } Great innovations could fail: ◦ microwave oven – first in 1947 (Raytheon) ◦ PDA – first in 1992 (Newton by Apple) Need to Address Needs and Communicate Value Good, Patentable Science is Not Always Commercially Relevant Lack of Market is a Deal-killer
  13. 13. Punch line: } Commercialization is a game of “what does he need” vs of “what have I got”!
  14. 14. Blind Spot Story Édouard-Léon Scott de Martinville On 26 January 1857, he delivered his design in a sealed envelope to the French Academy. On 25 March 1857, he received French patent #17,897/31,470 for his invention – phonautograph. Edison – phonograph, 1877
  15. 15. Steven Johnson, How We Got to Now. First time played back at the Lawrence Berkeley National Laboratory in 2008 Blind Spot Story (2) http://www.firstsounds.org/sounds/scot t.php Original application? Note taking
  16. 16. One more point. Who is this man? Kane Kramer
  17. 17. Timing is important.
  18. 18. Make Deals & Build Up Businesses Marketing. Why it is important? } All inventions/innovations are ‘genius’… Technical people/ inventors can’t talk about them objectively. Я (имя)…, изобретатель, г. N-cк. У меня есть изобретение «…». Патент RU №1234567. Аналогов в мире нет. Это лучшее изобретение 21 века в области механики. Моя технология вытеснит с рынка все ныне используемые технологии, как двигатель внутреннего сгорания вытеснил с рынка паровой двигатель…. Сейчас в мире нет пионерных изобретателей в области механики. Я один. К тому же нет настоящих экспертов. Армия дипломированных специалистов, называемых экспертами, на практике только для отчётности. Помните о роли личности в истории. Через несколько лет меня признает Америка, а за ней другие страны лучшим изобретателем 21 века. Мне присвоят разные премии и награды, но у меня не будет прав на мои изобретения. Премии и награды это ничто по сравнению с правами на изобретение. Россия будет внедрять мою технологию самой последней… Если мне в США предоставят Конструкторское Бюро и Экспериментальную Базу, то через год я предоставлю для США Эффективную систему ... Я допускаю, что переоцениваю свои способности. Время покажет.
  19. 19. Make Deals & Build Up Businesses Successful project Technology • Identifiable assets - patents, trade secrets, know how • Proof of concept - reduction to practice, prototypes • Identifiable applications within the scope of our rights Market • A business proposition that meets a market need • Strong technology - market match • Competitive advantage over alternative technologies • Technology in use: “Proven value” • Large, growing markets for licensable uses People • A technology champion • Prior business analyses from a business and/or technology team • Scientists to give industry presentations • Technical publications supporting the concept What’s Needed to “Sell”?
  20. 20. Make Deals & Build Up Businesses Formula for Success } W – what – understand your technology } W – why – what is the value proposition, why would anybody care… } W – where – “where” are the companies who care are – markets, applications, value chain } H – how – reaching out and delivering the three “W” message
  21. 21. What sells? Three key dimensions: Value proposition ? How does this technology outperforms current best-in-class? ? What are the key markets? Development status / transferability ? What was the highest stage of development? ? Can you support the transfer with samples? Data? People? Intellectual Property ? How broad, defensible, and detectable are the patent rights? ? What are the existing licenses / encumbrances? Make Deals & Build Up Businesses
  22. 22. Types of Intellectual Property • Copyright • Geographical indication • Industrial design rights • IP cores used in electronic design • Moral rights • Patent • Personality rights • Plant breeders' rights • Plant variety protection • Trade dress • Trademark • Trade secret • Traditional knowledge • Domain Name
  23. 23. Patent Requirements: • Utility • Novelty • Inventorship • Non-obviousness • Possession (written description) • Enabling disclosure • Best mode
  24. 24. Extracting Value The United States Patent & Trademark Office estimates that only 3% of patents ever return more money to the owners than was invested in their development and prosecution. The statistics are as follows: For every 100 ideas: 5 are patentable 2.5 will become patents .1875 will return a profit
  25. 25. Commodity Trap Manufacturing and business process knowledge are widely distributed. Hard to differentiate products and sustain the differentiation. Manufacturing is moving to global. In the areas with very low cost. Pressure to produce and sell on the basis of cost, not value. Shrinking product life. “What cost $5 million in 2000 can now be achieved for $5 thousand”. H. Chesbrough ©
  26. 26. Open Innovation – a new reality Old model (“closed” innovation): • Companies must generate their own ideas, then develop, manufacture, market, distribute and service those ideas themselves. • Spectacular successes of central R&D such as Bell Labs. Open Innovation: • Useful knowledge is widely disseminated, and ideas must be used with alacrity. If not, they will be lost. Role of R&D extends far beyond the boundaries of the enterprise. • Companies must now harness outside ideas to advance their own businesses while leveraging their internal ideas outside their current operations. Open Innovation: The New Imperative for Creating and Profiting from Technology, Henry Chesbrough
  27. 27. Disruptive Innovation
  28. 28. Disruption Theory Sustaining •Better than existing products in market, independent of price Incumbent (3 of 4) Same product, same value prop, same customer, same channel Succeed New Entrant Fail Disruptive • Compete against non- consumption • Lower cost and worse Incumbent Fail w/o autonomy New Entrant Succeed Disruption = A strategic choice *Paraphrased from Christensen & Raynor, The Innovator’s Solution, Harvard Business School Press (2003) ✗ Practice
  29. 29. Markets Focus on large markets! It is as easy to create a solution for large market as for the small one... Find a niche. It is easier to enter and expand from there if possible Don’t be greedy = be realistic. 2% of large market is usually better than 80% of a small and irrelevant one. Create dynamic models to adapt for change.
  30. 30. Power of Collaboration in Commercialization “Art is I, Science is We” Claude Bernard
  31. 31. Innovation Ecosystems = Collaborations and Interdependencies Innovation Success!!!!! Co-innovation R&D, Product Development, Execution Value chain, development chain
  32. 32. Make Deals & Build Up Businesses Idea Without a Use Idea With Intent (Business Plan) Commercial Product/Service Timeline of an Idea Need help with transition Moving Through Stages of Technology Development
  33. 33. Is There a Solution Need personalized, individual approach to businesses and technologies. No “one size fits all”! Can only come from experience Craft, not an exact science Repeatable, reproducible track record of success
  34. 34. Mission Statement To help businesses stay healthy and grow organically – this is fundamentally different path.
  35. 35. Value Add Connectivity Deep reach into corporate technical staffs Access to key gatekeepers (tech transfer & tech acquisition) Relationships with venture capital, Universities and SMEs Confidentiality Opportunity screening and initial discussions Protect client name and application Expertise Evaluation and communication methods Market and buy-side knowledge Business formation and commercialization skills External perspective Unbiased evaluation and critical thinking
  36. 36. Servicing Two Sides of Open Innovation Buy Side Innovationmanagement External Business development Technology Scouting Training Investment &/or Acquisition Targets Sell Side Market Assessment Strategy Advisement Commercialization Assistance Value Proposition & Market Validation Facilitation of Licensing and Partnerships
  37. 37. Open Innovation Tool Box We are a one-stop shop for all your strategic needs. o Proprietary databases o On-line portals and marketplaces o IP experts o Valuation experts o Local and market specific search partners o Subject matter experts from industry and academia
  38. 38. Contact Info Eugene Buff, MD, PhD Certified Licensing Professional (CLP) Registered Technology Transfer Practitioner (RTTP) Primary Care Innovation Consulting UsTech Discovery LLC E-mail: eugene.buff@gmail.com Ph.: +1 617-331-1982 Skype: eugenebuff https://www.linkedin.com/in/eugenebuff

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