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Published byLaureen Potter Modified over 9 years ago
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Where should you be now? Met with inventor to understand facts about the invention and development status Completed “first pass” market study- Identified industry trends, potential customers, competitors, and substitutes Discussed various commercialization options with your group and mentor- identified two or three possible approaches
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On deck… Today- Informal updates on brainstorm options (30’) Discuss two or three top choices Status of market research, customer and inventor interview Additional research needed SWOT analysis approach and example (30’) Group work session (50’) Assignment- SWOT and facts/assumptions presentation (in class, Wed- 2/4)
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On deck (continued) Wed (2/4) Group presentations: SWOT analysis of commercialization approach (60’) The elevator pitch (20’) In class work on SWOT, elevator pitches (30’) Mon (2/9) Group presentation- elevator pitches (30’) Corporate Technology Commercialization processes (HP visitor) Assignments: Written SWOT analysis and facts/assumptions (due- Sat 2/7) Elevator pitch presentation (in class- Mon 2/9)
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Selecting a Commercialization Approach: SWOT Analysis
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SWOT Analysis Often used in business environment to identify the best strategic approach Examines both positive/negative attributes and current/ potential future state For your IP, use this tool to examine various options for commercialization
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SWOT ANALYSIS StrengthsWeaknesses OpportunitiesThreats Positive AttributesNegative Attributes Present State Future State
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SWOT Analysis Assignment: Commercialization Options 1) Document known facts & assumptions about the technology, competition, and market entry from your research. Verify these with inventor, complete additional research as needed. 2) Select at least two different approaches to commercializing your invention- e.g. service model, different forms of product or positions in the value chain Be creative- best performed as a “brainstorm” Avoid pre-conceived notions of what is best Don’t judge or eliminate possibilities until you have completed the exercise 3) Perform SWOT Analysis on at least two brainstormed commercialization approaches Use the facts and assumptions to support your SWOT analysis Identify the best commercialization approach from your analysis
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What sort of facts are important? Maturity of your technology: idea> proof of concept>prototype>beta test> ready to ramp idea> proof of concept>prototype>beta test> ready to ramp Current protection of your IP Barriers to entry- competitors, regulations, etc Potential openings in the value chain Timing- is the market ready? Perceived customer value- will they buy? Potential cost of entry: capital investment, research $ needed, marketing, distribution, staff levels Profitability- clarity of path to make money
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Sample SWOT of Commercialization Options Bio-fuel Generating System- project from three years ago Sample Facts & Assumptions (examples only, some of these were not actually correct…) Biofuels unit generates ethanol and “high purity” glycerin from canola seed at a rate of 18 gallons per ton and 4 gallons per ton respectively Market price for “high purity” glycerin is $8/gallon Canola seed can be grown in Willamette valley- no regulations prohibit this Technology is ready- a prototype could be available in 6 months Mature cost of system would be ~$10,000 Biofuels unit could be operated by local farmers without assistance Biofuels unit would require periodic servicing and cleaning by manufacturer Waste product from biofuels unit is non-toxic and may be composted on site Transport and distribution of glycerin requires a license, MSDS, and certification of purity …
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Sample Commercialization Options Product Model- Sell biofuels unit to local canola growers. They sell glycerin to chemical distributors and service their own units Product + Service Model- Sell biofuels unit to local growers. Set up service to collect glycerin and perform periodic maintenance on units Service Model- Set up regional centers for biofuels conversion with larger units and have growers bring canola to the sites. Perform purity analysis at the center and sell glycerin to large chemical distributors at markup.
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Sample Commercialization Option SWOT Analysis Bio-fuel Generating System: Product + Service Option Strengths Easily scalable for local growers Growers can use ethanol to reduce their own fuel costs, and reduce their sensitivity to sudden increases in price of diesel fuel Unit service and biofuels collection could occur at the same time Glycerin collection, analysis, and distribution handled at collection centers. Less overhead for growers Two revenue streams for business- sale/service of units, and sale of glycerin to chemical distributors Weaknesses Would require additional infrastructure for servicing of units Transport of ethanol across state lines could be problematic Requires large “up-front” capital investment to set up collection centers Profit model is very sensitive to the market price for glycerin Investment is required before canola growers agree to grow this crop
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Sample Commercialization Option SWOT Analysis Bio-fuel Generating System: Product + Service Option (Continued) Opportunities Similar product + service model could potentially be expanded to include biofuels from other seed crops Potential “seed” funding from existing agricultural cooperatives- easier to obtain for the product + service model Threats Tax incentives for biofuel generation may not apply to large distributors in product + service model If current diesel fuel costs decrease, local growers will not save money by using the ethanol they generate. Another product is in development which would allow self-service units. Local growers may be reluctant to sign up for this product + service model.
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Assignment- SWOT Analysis for Commercializing your IP Presentation: At next class meeting: Wed, Feb 4 th report on your progress- 1) Facts & Assumptions 2) Brainstorm list- all commercialization options considered 3) SWOT analysis of at least two options and chosen approach Written Report (Due Sat, 2/7- midnight by e- mail) Complete the exercise and provide a written summary including the 3 aspects above
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