This document discusses frameworks for commercializing novel technologies. It describes how traditional technology commercialization focuses on pushing technologies to market without understanding customer needs, while lean startup focuses more on market pull but may ignore technology advantages. The document then introduces the TechConnect framework, which involves 5 stages to develop technologies in a market-centric way: 1) identifying jobs a technology can perform, 2) developing value propositions for those jobs, 3) selecting the most promising opportunities, 4) identifying barriers to adoption, and 5) encouraging adoption. It provides an example applying this framework to LED technology and discusses exercises for participants to experience parts of the process.
This document discusses how trust and weak ties can promote innovation. It notes that innovative companies are able to build relationships with weaker ties that are informal with infrequent communication and complementary knowledge. These weak ties are a source of innovation but relationships are difficult given limited track records. The document suggests changing organizational behaviors and design to better develop these weak tie relationships and manage relationship risk through trust rather than control. It provides a framework for understanding how specific trust behaviors can build, damage, or violate relationship trust over time.
The document discusses the importance of teamwork and effective problem solving. It explains that teamwork requires embracing different skills, perspectives, and consensus decision making. The key elements of effective teamwork are individual personality, the creative problem solving process, and problem solving styles. To understand these elements, the document introduces the Myers-Briggs Type Indicator personality assessment and the Basadur problem solving styles assessment. It provides an overview of each tool, how to use them to improve team performance, and their benefits and disadvantages.
The document discusses the Best (BEST) program at Lassonde, which combines engineering, business, and social science courses with experiential learning opportunities to develop knowledge and skills. It prepares graduates for a variety of careers by encouraging entrepreneurship and solving important issues. The BEST program offers academic courses, international experiences, co-ops, activities, and a lab where students can start ventures. It aims to enhance the student experience and provide a roadmap for all Lassonde students. The top ten ways to improve BEST further include enhancing its brand, providing more resources, developing partnerships, and extending opportunities internationally.
This document discusses innovation and trust in organizations. It argues that innovation requires changing products, customers, business models, people, processes, culture and behaviors. Successful innovative organizations have decision processes that are faster, spread accountability, encourage risk-taking and experimentation. They also communicate accurately and frequently, with two-way information sharing. Relationship trust is important for innovation as it facilitates knowledge sharing and speeds relationship development. Trust develops over time based on consistent trustworthy and trusting behaviors. The document provides a diagnostic for organizations to assess the trustworthy and trusting behaviors between those with weak ties.
The document discusses improving innovation quotient. It begins by explaining that innovation is difficult because organizations are designed to stifle it and it means stopping existing successful practices. It then introduces the innovation quotient as a way to measure an individual or organization's capacity for innovation. Key components that impact innovation quotient are strategy, culture, processes, resources, and relationships. Trust behaviors between individuals and across an organization can also impact innovation. A behavioral trust framework is presented as a way to identify specific trust-building and trust-damaging behaviors and increase relationship trust to ultimately improve innovation.
This document provides an overview of the York-Technion Program, which aims to provide students an educational experience based on Israel's innovation ecosystem. The program will include lectures, workshops, visits to startups and entrepreneurs, and trips around Israel. It encourages finding problems by listening to customers, experts, and one's inner voice. The document outlines steps for understanding problems, including root cause analysis and competitive analysis. It provides an example of a company called VisualTau that developed collaboration software. An appendix includes a template for defining a problem or idea with sections for the customer, job to be done, problem description, scenario, and root cause.
This document discusses the importance of trust in fostering innovation within organizations. It outlines a Behavioral Trust Framework (BTF) that identifies specific trust-building and trust-damaging behaviors. The BTF allows individuals and organizations to understand how to develop trust and collaboration, which are necessary for innovation. Applying the BTF can help reduce controls and proxies for trust, allowing for greater innovation capacity. Managing trust behaviors, rather than just outcomes, is key to catalyzing innovation.
Business model innovation refers to reinventing a company's business model to compete on value proposition and profit formula rather than just products alone. It involves aligning a company's value proposition, revenue streams, partnerships, supply chain, activities, and customer relationships to enhance value creation. Changing aspects of the business model can help companies increase value, revenues, strategic partnerships, supply chain leverage, customer value, and relationships to gain competitive advantage.
The document discusses sources of innovative ideas and developing good ideas. It outlines seven approaches to identifying innovation opportunities: design thinking, technology trajectory, gaps in current solutions, value chain analysis, building on technology platforms, business model innovation, and future foresight. It also discusses developing the value proposition of an idea by persuading customers to adopt something new or switch from existing options. Finally, it notes that a good idea must be desirable to people, financially viable, and technologically/organizationally feasible.
The document discusses key concepts for marketing technology innovations, including diffusion of information and adoption decisions. It notes that diffusion is the process by which an innovation is communicated over time through certain channels among members of a social system. Adoption looks at what motivates individuals to adopt an innovation based on its perceived attributes. Successful marketing requires understanding both diffusion and adoption frameworks to develop strategies that inform customers and compel use.
This document provides an overview and agenda for a workshop on innovation adoption. It discusses how commercial success requires understanding how customers become aware of solutions, know if they work, are motivated to purchase, and overcome concerns. It outlines steps to identify market segments, stakeholders, barriers to adoption, and constraints for opportunities. Finally, it discusses generating business model and revenue options to stimulate adoption by modifying the technology, business model, or revenue streams to increase benefits or reduce costs and risks for stakeholders. The goal is to help participants better understand the technology commercialization process from both technological and behavioral perspectives.
The document provides information about the IAOIP Foundation Level Certification exam for individuals seeking to become a Certified Professional Innovator (CPI). It discusses the benefits of obtaining the certification, including building knowledge and skills in applying innovation, publicly endorsing one's innovation skills, and gaining access to the IAOIP member network. The certification is based on the body of knowledge from the Global Innovation Science Handbook and tests knowledge and comprehension of innovation concepts, culture, types, methods/tools, processes, and creativity/ideation. The Foundation Level exam serves as an entry point for pursuing additional practitioner-level certifications in specific innovation domains.
This document discusses various funding opportunities and support programs for translational research at universities, including:
1) Short proposal opportunities through the NSF I-Teams program and TechConnect workshops that provide up to $50,000 over 6 months to assess technical and commercial opportunities.
2) The NSF I-Teams program which provides up to $150,000 over 6 months to assess technical merit, feasibility, and commercial potential through more extensive 15-page proposals.
3) Support programs through universities like mentorship, masters degrees in innovation management, and technology commercialization certificates to help researchers assess commercial feasibility.
The document discusses creative problem solving techniques. It recommends spending time defining the problem before leaping to solutions. It outlines techniques like the Five Whys method and brainstorming or brainwriting where participants build on each other's ideas. The goal is to remove contradictions and think outside the box to find novel solutions by not dismissing any ideas and working together to group and build upon concepts.
The document presents a behavioural trust framework diagnostic scale for assessing levels of trustworthiness, capability, trusting behaviours, and receptiveness. It includes scales ranging from +5 to -5 for dimensions such as consistency, benevolence, competence, disclosure, and receptiveness. For each dimension, descriptions are provided for behaviors associated with each level on the scale. The document appears to be a tool for evaluating levels of trust within relationships or organizations.
This document discusses how to persuade customers to adopt a new product. It explains that customers buying a product means they were persuaded to change their behavior, switch from an existing option, or adopt something new. This persuasion provides awareness, motivates trial and adoption, lowers costs/risks, and convinces customers that benefits outweigh alternatives. Key factors that influence adoption are relative advantage, compatibility, complexity, trialability, and observability. The document stresses the importance of experimentation to test customer interest and sales through cheap, simple, and fast initial efforts.
This document outlines an agenda for a TechConnect event on moving ideas to market. It discusses developing a value proposition by understanding customer pain points and gains. Creating a compelling value proposition involves either addressing an existing problem or enabling new capabilities. The document also covers barriers to adoption like integration challenges and behavior changes. It suggests strategies to facilitate adoption such as partnerships, trials, and alternative revenue models. Finally, it discusses when to pursue licensing versus creating a new venture based on factors like market dynamics, disruptive potential, and input requirements.
The document discusses measuring and promoting innovation in organizations. It provides three key points:
1. Measuring innovation through outputs like new products and patents does not guide performance improvement, which requires changes in how people work and make decisions.
2. Barriers to innovation include budgets, risk aversion, and defined roles that discourage experimentation. Innovation thrives on collaboration, speed, and accepting failure.
3. Developing trust is important for innovation as it facilitates knowledge sharing and risk-taking with new partners. Trust evolves over time through consistent behaviors across individuals and organizations.
The document discusses fostering innovation through organizational culture change. It emphasizes that leadership plays a critical role in culture and that senior leaders often resist change unconsciously. It also highlights that experimentation, trusting relationships, and ideation are important aspects of an innovative culture. The document provides frameworks for assessing trust behaviors and lists several actions organizations can take to support innovation, such as establishing an innovation strategy and rewarding experimentation.
Presented to an internal audience on 4.14.17 regarding the implementation pros and cons of the Two Speed IT management approach and some modifications for it's successful implementation.
This document discusses disruptive and open innovation. It defines sustaining innovation as improving existing products for demanding customers, while disruptive innovation introduces simpler, cheaper products that are targeted at new customer segments. The key elements of disruption are that technological progress outpaces customer demand, allowing disruptive innovations to eventually replace incumbent products. Open innovation is also discussed, where companies use both internal and external ideas, and internal and external pathways to market, as opposed to closed innovation within a single organization.
This document discusses how to innovate beyond the ordinary by becoming an agile and creative organization. It recommends applying a mix of agile and entrepreneurial methods like Agile Solution Selling, a "50% Challenge" initiative to set ambitious targets, an Agile Solution Development approach, and an Intrapreneur Lab to develop big innovations. These methods aim to address challenges like late-to-market projects, slow new product sales, and too few high-value ideas by iteratively developing solutions through continuous customer communication and involvement. The goal is to continuously release more innovative products and services than competitors to achieve rapid growth.
The document discusses the e-learning market, which is estimated to be worth $50 billion worldwide. The market is growing rapidly and attracting a diverse user base from K-12 schools to corporate organizations. Major players in the e-learning field include proprietary systems like Blackboard and Desire2Learn as well as open-source systems like Moodle and Chamilo. Revenue models for e-learning companies include product-based, service-based, and hybrid approaches.
The document discusses new approaches to innovation that focus on understanding user behaviors and jobs-to-be-done rather than products. It advocates designing unfinished, disruptive solutions and relying on user communities to create new uses and meanings. This allows for fundamental growth by connecting products and services to future jobs and unlocking users' potential to co-invent and reinvent categories.
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ITS835 enterprise risk managementChapter 3ERM at Mars, Incor.docxvrickens
ITS835 enterprise risk management
Chapter 3
ERM at Mars, Incorporated: ERM for Strategy and Operations
Introduction
Mars’ ERM history
Phase 1 –Crash and Burn
Phase 2 -Success
Global rollout
Reporting
Operating workshops
Technology
Aggregation
Template evolution
Conclusion
Mars’ erm history
Mars, Incorporated
Privately held -> migration to non-family management
Decentralized management
Leadership had legacy commitment to risk management
ERM was viewed as an evolution
COSO versus bespoke approach
COSO –Committee of Sponsoring Organizations structure
Bespoke approach won
Phase 1
Failed due to being impractical and overly complex
Phase 2
Simpler and targeted
Planning workshops
Desire to align senior management goals with ERM
Started with simple template
Operating plan initiative sheet
Objective
Score
Risk column
Risk treatment column
Management team met to define and rank
Risks
Risk treatments
Changed label from “mitigations”
Global rollout
Used lessons learned from pilot
Each unit has specific nuances
Interviewing GM and CFO together saved subsequent interview time
Workshops helped to identify
Gaps in risk management readiness
High-risk initiatives
Ongoing activities with unexpected high risk
reporting
Color-coding adds
Urgency
Clarity
Groups are defined
Clusters
Score represents
Confidence of meeting goals
Reporting [cont’d]
Reporting [cont’d]
Reporting [cont’d]
Operating workshops
Several ongoing changes
Technology
Early-on, process was technology agnostic
Word -> Excel
Excel -> purpose-built software
ERM supports aggregation
More complete view of organizational impact of risk
Continual template evolution
Added risk treatment owners and due dates
summary
Mars received an award for their ERM
Corporate Executive Boards’ “Force of Ideas Award” for ERM
Key factors for ERM success
Alignment with Mars’ principles
Focus on meeting objectives
Operational
Strategic
Flexible
Realistic
WEEK 2 ASSIGNMENTS
BUS 3022: 600-800 WORDS
Dell's Supply Chain
Many companies have achieved excellent success as a result of emphasizing online sales and an associated distribution network. Dell has been one of the most successful at that, by offering significant customization direct to end users. As noted in a prior edition of our textbook:
“Dell is able to exploit most of the responsiveness-enhancing opportunities offered by the Internet for customized servers. The company uses the Internet to offer a wide variety of customized server configurations with the desired chassis, processor, memory, and operating system. Customization allows Dell to satisfy customers by giving them a product that is close to their specific requirements. The customization options are easy to display over the Internet, allowing Dell to attract customers who value this choice.”
“The Internet allows companies such as Dell and Apple to bring new products to market quickly. This is particularly important in the compute ...
e-Types is a creative company that specializes in identity design. They are formulating a new strategy. To do so, they will:
1. Set objectives and evaluate their organizational environment through a SWOT analysis.
2. Use a BCG growth-share matrix to analyze their portfolio.
3. Perform an analysis of their competitive environment using Porter's 5 forces.
4. Synthesize the information to develop a new mission, goals, and objectives.
5. Formulate corporate, business and functional strategies and objectives to guide the company going forward.
Trending Innovations In 21st century pptxwolftoto436
The document provides an overview of resources to help practitioners teach innovation and emerging technologies at levels 2 and 3. It introduces key concepts around innovation and discusses factors that enable innovation. The resources help learners understand innovation, develop definitions, and explore how innovation impacts industries and employment. They also address ethics in innovation and how market forces and technology can drive the innovation process.
Evaluates technical feasibility and
Adoption Blockers:
• Economic Blocker - Sees no ROI or too risky
• Political Blocker - Threatened by change
• Process Blocker - Disrupts existing processes
• Values Blocker - Conflicts with personal values
Adoption Approvers:
• Economic Approver - Sees ROI
• Visionary - Values innovation
• Process Approver - Supports process change
investment
- Evaluates technical risks and
complexity
• Process Champion - Drives process change
• Economic Champion - Drives ROI case
• Values Champion - Drives cultural acceptance
- Evaluates legal/compliance risks
• Legal
Applying Innovation in Software DevelopmentAmish Gandhi
Sometimes the only difference between the winners and the losers is that the winners figure out how to innovate. Innovation is a broad term and this presentation outlines what it means for enterprises and companies involved in developing software. This presentation highlights how innovation can be applied at various stages of software product development and in different ways by applying special techniques, tools and frameworks.
Note: This was also a QCon Shanghai Keynote Talk. Full talk up at http://www.infoq.com/cn/presentations/business-innovation
Perpetual website: http://www.perpetualny.com
The document discusses key concepts related to product innovation including the product cycle, design cycle, roles of invention and innovation, and factors that influence new product development. It defines terms like dominant design, diffusion, market pull, and technology push. It also explores the roles of individuals and teams in innovation and different corporate strategies for pioneering versus imitating new products.
Ημερίδα 3 Ιουνίου 2015
"Μεταφορά τεχνολογίας από την έρευνα στη βιομηχανία"
Αμφιθέατρο Α.Ε.Ι. Πειραιά Τ.Τ.
2ο workshop «Εκπαίδευση για τα στελέχη μεταφοράς τεχνογνωσίας»
Παρουσίαση: "Τα σεμινάρια στρατηγικής για την αξιοποίηση προϊόντων έρευνας" - Μάνος Σοφιανόπουλος, Σύμβουλος Μεταφοράς Τεχνολογίας- Διαχείρισης έργων
Marketing Value Proposition and Positioning of Early Stage Technology: Five L...Kikuyu Daniels
Is the communication of value important in the licensing of patented inventions?
Most technology transfer professionals would answer that it is indeed important. When these same professionals are asked how much time they spend marketing patented inventions relative to their involvement in other licensing related activities, there is often hesitation before an answer is offered. Most technology transfer professionals really do not think of the work they perform as involving “marketing” per se. The daily demands of evaluating invention disclosures, patenting inventions, and negotiating license agreements often overshadow the outreach or communication efforts necessary to find new companies suitable to license the inventions. Even so, the importance of identifying and communicating the value of the intellectual property to companies who demonstrate the ability to turn the inventions into commercially successful products as a part of the overall licensing business model simply cannot be overstated.
The specific subset of marketing that involves communication of value for the purposes of demand creation is called marketing communications. This presentation highlights close yet often overlooked relationships between basic concepts of traditional B2B marketing communications and the marketing of early stage technology for purposes of licensing inventions for use in the market as new products and processes. It was developed with University Technology Transfer in mind, but the concepts and techniques presented may prove useful for non-profits, government agencies, and others who license their intellectual property to companies for further development into commercial products.
I gave this presentation in a workshop format at the Massachusetts Institute of Technology TLO (Technology Licensing Office) in April of 2009. I have since revised it and placed here for public viewing. I am interested in any feedback and comments, especially from tech transfer and technology marketing professionals. Please post your comments or private message me with your thoughts regarding this topic and on the presentation itself.
Many thanks to Jane Muir, Associate Director of the Office of Technology Licensing at University of Florida, for sharing with me her wealth of experience in teaching marketing and communications to Technology Transfer Professionals.
The document provides an overview of innovation concepts including:
1) Lead user theory which posits that users with needs ahead of the general market are more likely to innovate solutions. These lead users can provide insights for manufacturers.
2) Information is "sticky" meaning it is costly to transfer, especially tacit knowledge. This stickiness affects where innovation occurs.
3) Toolkits can help overcome information stickiness by allowing users to solve needs-based problems in their own environment while manufacturers provide standardized solutions.
From managing cost, risk and time to harvesting collective Intelligence and collaborative decision making. This a simple introduction to a methodology.
We overestimate changes in the short run and underestimate them in the long runHelge Tennø
A short introduction to two critical points for understanding the current changes and how they affect companies' customer and business value. The goal of the presentation is to inspire a discussion to develop a shared language and understanding.
This document provides an overview of prototyping and storyboarding. It discusses the importance of prototyping in the design thinking process as a way to test ideas quickly and improve upon them. Both low-fidelity and high-fidelity prototyping are described, as well as different types of prototypes like sketches, physical models, role playing, and storyboards. Guidelines for effective prototyping emphasize starting quickly, focusing on the testing goal, and keeping the user in mind. Storyboarding is presented as a way to visualize and guide users through experiences to better understand needs.
Design thinking is a human-centered approach to innovation that draws on design methods and tools. It emphasizes empathizing with users, defining problems from the user's perspective, ideating many potential solutions, prototyping ideas, and testing prototypes with users. This process aims to create innovative solutions that meet user needs. For software development, design thinking can be applied at each stage to develop solutions focused on the user experience through methods like customer research and iterative testing. It helps shift the focus from functionality to delivering an experience that solves users' problems in a better way.
Starting a business is challenging and full of risks. Many new ventures fail for reasons outside of the founder's control like broader economic conditions or an unanticipated disruption in the industry. While failure is difficult, entrepreneurs who are resilient and learn from mistakes are often able to recover and succeed with future business ideas.
This document provides an overview of the Future Agenda project exploring the future value of data. The project will examine how data itself will be valued over the next decade through a collaborative, global approach. Workshops will be held in multiple locations to identify opportunities and implications. The project aims to challenge assumptions, understand constraints, and share diverse views on the key drivers of change. Insights will inform a global synthesis report on priority opportunities regarding how data will create value in the future.
This document discusses technology entrepreneurship and common myths. It begins with an overview of the speaker's background teaching technology commercialization and entrepreneurship. It then discusses why technology entrepreneurship is important and how experiential learning is key. The speaker notes that universities did not understand how to manage technology ventures or commercialize research. The document outlines common myths around entrepreneurship, such as the idea that it starts with a great idea or that entrepreneurs are risk takers. It emphasizes the importance of design thinking and linking it to venture creation.
The document discusses improving innovation capability. It identifies common barriers to innovation as not understanding innovation, designing organizations to stifle it, and stopping what used to work. The discussion focuses on measuring an organization's innovation quotient using factors like strategy, culture, processes, resources, and relationships. A behavioral trust framework is introduced to build relationships and encourage collaboration, knowledge sharing, risk-taking, and communication to improve innovation culture. Organizational ambidexterity is needed to balance performance and innovation.
This document provides guidance for those starting a journey and outlines what to expect and prepare for. It discusses exploring without end to continually learn and grow, and living life looking forward while learning lessons looking backward. The document also recommends focusing on making meaning over money. It notes the three stages of startups as ideation, validation, and actuation, and that the journey will involve learning how to navigate obstacles through a "startup slalom."
The document discusses the opportunities and challenges presented by blockchain technology. It describes how blockchain can disrupt existing industries by enabling new levels of performance and facilitating new business models. Blockchain creates a distributed ledger that eliminates duplication, allows secure record keeping, tracks provenance, and more. It also discusses how blockchain reduces costs and creates new revenue opportunities for organizations. The document outlines barriers to innovation adoption and how to develop a compelling value proposition to increase adoption of disruptive technologies like blockchain.
1. Teams developing technology face challenges like being informal, cross-functional with little training, and having outcomes that are not clear.
2. High-performance teams develop a sense of purpose and direction, embrace complementary skills, make consensus-based decisions incorporating different perspectives, and leverage individual strengths.
3. Embracing diversity improves innovation but is more difficult, as different problem-solving styles are needed at each stage and individuals value their own style over others, creating potential conflicts.
1) Barriers to innovation include changing current processes and procedures, modifying management styles, developing new organizational structures, abandoning existing products, and modifying incentives and company culture.
2) Maxwell's three laws of innovation inertia state that organizations naturally resist change, larger organizations require more force to change, and any force applied to an organization generates an equal and opposite reaction force.
3) The innovation quotient measures five factors that determine an organization's ability to innovate: strategy, culture, processes, resources, and relationships. Organizations need both a performance engine to exploit existing capabilities and an innovation engine to explore new opportunities.
This document outlines an agenda and schedule for a two-day workshop on tools and techniques for innovation. Day one covers introductions, goals of innovation, ideation exercises, innovation portfolios, and barriers to innovation. Day two focuses on reviewing exercises, sources of innovation, leadership, implementation, and an concluding exercise. The workshop is led by Dr. Andrew Maxwell and aims to provide frameworks and processes for generating, evaluating, and implementing innovative ideas.
The document outlines the agenda and schedule for Day 2 of a workshop on tools and techniques for innovation. The schedule includes reviewing concepts from Day 1, discussing innovation portfolios, barriers to innovation, sources of innovation, and innovation implementation. Key lessons from the prior week are reviewed, including establishing innovation goals and criteria. Common causes of innovation failure like poor leadership, communication, and understanding customer adoption are examined. The importance of organizational culture and aligning activities to foster innovation over incremental improvement is highlighted.
This document discusses disruption and how to anticipate and manage it. It defines disruption as changes in the marketplace that affect players, interactions, and functions by creating new levels of low-cost and novel solutions. While some changes in business models are difficult to anticipate, changes in technology that enable new levels of performance can be scanned for trends. The document suggests that the most optimal disruptors are new ventures focused on the opportunity without constraints of existing customers. It provides tips for managing innovation risk through mitigation strategies and lean startup approaches, as well as managing an innovation portfolio that assumes most projects will fail.
The document provides information about Lassonde's International Experience Course at the Technion in Israel from May 14 to June 4, 2018. It is a graded, 3-credit course open to undergraduate students from any year interested in entrepreneurship, broadening their cultural exposure, or advanced technologies. The trip includes a bootcamp in Toronto from May 8-12 before traveling to Israel. In Israel, students will spend time in Tel Aviv, Jerusalem, the Dead Sea, and Haifa visiting the Technion campus. Fees for the course are covered but students are responsible for airfare, some tours, and have options for financial support. Security and visa issues are also addressed.
The document discusses the importance of commercializing university research and working with industry partners. It notes that there is an increasing focus on commercialization in grant applications. It also discusses the need to understand the difference between incremental and disruptive innovation. Finally, it lists several ways that universities can help in preparing technologies to be adopted, such as by helping to find industry partners, do customer research, and provide funding and IP guidance to get technologies from the lab to market.
This document discusses the importance of commercializing university research through technology transfer offices (TTOs). It notes that most TTOs operate at a loss and focus on licensing, while most disruptive innovations never reach customers. The root causes identified include researchers lacking commercialization expertise, research not considering commercial needs, and the commercialization process starting too late. The document advocates for design thinking and taking a customer-centric approach to commercialization from the start of the innovation process. It emphasizes determining customer needs and viable business models to overcome adoption barriers.
BEST at Lassonde School of Engineering offers a holistic approach to engineering education that integrates entrepreneurship skills and experiences. It addresses the need for engineers to better communicate, problem solve, and understand their societal impact. BEST enhances student learning through hands-on activities that develop creativity, teamwork, and an understanding of technology commercialization. It combines engineering courses with business and law courses, as well as experiential opportunities like co-ops, international programs, and competitions, to prepare students for evolving careers and help them achieve their potential.
Business angels are the second most important source of capital for high-growth ventures. Understanding how business angels make investment decisions is critical for entrepreneurs who want their money. Business angels approach investment opportunities using a boundedly rational approach, where they minimize decision-making effort. They first look at objective venture factors like market size, barriers to entry, and financial viability, then use individual subjective factors to reject opportunities. When assessing risk, business angels examine inherent risk, performance risk, and relationship risk. They also consider the entrepreneur's experience, expertise, and characteristics to assess performance risk, and use behavioral cues to evaluate long-term relationship risk. Business angels also consider the potential exit when making investment decisions.
An overview of why technology commercialization is important for those undertaking research in universities - insights into why the current process is broken and some insights into new apporaches.
1) The document discusses challenges with commercializing university research and proposes a new approach using design thinking and lean startup methods.
2) Current commercialization success rates are low because research is not designed with commercialization in mind and researchers lack entrepreneurial skills.
3) The proposed approach would apply design thinking to iterate from technologies to applicable customer needs and business models in order to increase commercialization success rates. It focuses on recognizing customer jobs that could provide competitive advantage.
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3. Framework for identifying most promising
opportunities for a novel technology
Dramatically increases likelihood that novel
technologies will be deployed
Improved the likelihood of commercial success
Uses market evidence to change innovators’
behaviors
Increases knowledge about commercialization
process
4. Traditional technology commercialization doesn’t work
Technology is developed without clear view of market
Neither TTO or inventor have resources / knowledge
Most TTOs have more failures than successes
Training innovators doesn’t always get results
Funding
Initial
Concept /
Research
Funding
Follow-on
Research
(Technical)
Funding
Attempt to
License /
Sell
TECHNOLOGY PUSH
6. New technology commercialization doesn’t work
Focuses on market pull, and market validation
Yet most customers do not know what they want
Ignores technology as a competitive advantage
Identifies market, not business, opportunities
LEAN STARTUP / DESIGN THINKING
7. Involves 5 divergent and convergent stages
Creates market centric technology development process
Leverages novel technology development
Integrates: job mapping, value proposition, lean
startup, and business model methodologies
Identifies adjacent markets and adoption strategies
Technology to
Jobs
Jobs to Value
Proposition
Value
Proposition to
Market
Selection
Barriers to
Entry
Market to
Encouraging
Adoption
8. What does the
technology do?
Where does
this offer a
benefit?
What
additional
applications
can it be used
for?
Where does it
do this better
than the
alternates?
What jobs can
it do?
10. Other alternatives
often exist that can
also be used to
accomplish the
original as well as
alternative jobs
That technology or capability can usually
also be applied to accomplish [other]
tasks relevant to other jobs
Product /
Service
Customer
Job
Technology
/
Capability
A product or service is
built / delivered by
applying some
technologies or
capabilities to do a
specific customer job
Underlying technolo-
gies may be unique or
common and the
organization’s ability to
deliver that technology /
capability may be strong
or weak
Sometimes go-to-market
barriers or users’ resistance to
adopt can drive us to look for
alternative applications (jobs)
11. 1. You have chance to experience TechConnect by working in
groups on a single stage of the process, and then sharing
the outcomes
2. First explain the overall process using an
example: Light Emitting Diodes (LEDs)
3. Then we will focus on two stages:
a. Job-mapping to value proposition
b. Overcoming barriers to adoption
4. We will split into two groups, and ask you to engage in a
brain-writing divergence/convergence exercise
5. We will then come back together to review
14. Job Mapping is the idea that you hire a technology to do a
job for you – not to outperform an existing technology
First identify what are the advantages or disadvantages of
this technology over other solutions
Identify applications for this property (that you could not
do before, or are much better than alternates)
Technology Original
Application (Job)
Major / Unexpected
Application (Job)
Encryption Secure data on Palm Payment processor
(PayPal/eBay….)
Massive multi-
player game
Photo sharing in
Game Neverending
Photo sharing website
(Flickr/Yahoo)
Mobile music
sharing
Downloadable music
to smartphones
Multiplatform
messaging (KIK)
15. 1. There is a natural tendency for organizations to keep
doing what they’re doing and resist changes. In the
absence of a force, they will continue to do what
they’ve always done.
2. Larger organizations require more force to change
what they are doing than smaller organizations.
3. For every force there is a reaction force that is
equal in size, but opposite in direction. When
someone exerts a force on an organization, he or she
gets pushed back in the opposite direction equally
hard.
16. Essential rule of stimulating adoption
Persuading a customer, or user, to adopt your
innovation requires them to:
* switch from using an existing product / service
* adopt an entirely new product or service
Changing behaviours means motivating customers,
or users, to change – how do you motivate them?
2
16
17. Brain writing is an idea-generating method that
involves everyone in a group activity.
Idea is to have everyone participate by writing down
ideas on Post-It notes (in brainstorming only the most
vocal people tend to participate).
People post ideas, and then look at ideas posted to
see if they can build on them.
Towards end of the session, ideas are grouped and
prioritised.
Report back involves discussion of why specific ideas
were chosen.
18. Group One:
Identify how advantages and disadvantages of LEDs
can be used to fulfil jobs and create value.
Example solution: Shock resistance allows LEDS to be
used by performing artists on stage.
Group Two:
Identify how (technical/social/economic) LED barriers
to entry in specific applications can be overcome.
Example solution: Lead users can be given prototypes
to build brand and awareness.
19. *Efficiency: LEDs emit more lumens per watt.
*Color: LEDs can emit light of an intended color without filters.
*Size: LEDs can be very small and attached to pcbs.
*On/Off time: LEDs light up very quickly.
*Cycling: LEDs are ideal for frequent on-off cycling.
*Dimming: LEDs can be dimmed (pwm or lowering forward
current).
*Slow failure: LEDs fail by dimming over time.
*Lifetime: LEDs can have a relatively long useful life.
*Shock resistance: LEDs are difficult to damage.
*Focus: LEDs can be designed to focus their light.
20. *High initial price: LEDs have higher initial capital cost.
*Temperature dependence: LED performance may require heat
sink.
*Voltage sensitivity: LEDs must be supplied with threshold
voltage.
*Light quality: Most cool-white LEDs spectra differ from
incandescent.
*Area light source: Single LEDs do not approximate a point
source of light.
*Electrical polarity: LEDs will only light with correct electrical
polarity.
*Efficiency droop: The luminous efficacy of LEDs decreases as
current increases.
*Impact on insects: LEDs more attractive to insects.
*Use in winter conditions: Can be obscured by snow.
*Dimming controls: Traditional controls may not work with LEDs
Ask / reframe question to get the group thinking
Question assumptions constantly
Don’t restrict or limit statements / claims unnecessarily
Post-It Notes
Write one idea per post-it
Try to write legibly
No Judgment / Don’t Filter
Write down anything that seems relevant; don’t trust your memory!!!
(including things others say as well as your own thoughts)
Find a spot to place every post-it on the template
Make sure to identify unknowns / unanswered questions as you go
It’s ok to go back to earlier sections to add more ideas
Ask / reframe question to get the group thinking
Question assumptions constantly
Don’t restrict or limit statements / claims unnecessarily
Post-It Notes
Write one idea per post-it
Try to write legibly
No Judgment / Don’t Filter
Write down anything that seems relevant; don’t trust your memory!!!
(including things others say as well as your own thoughts)
Find a spot to place every post-it on the template
Make sure to identify unknowns / unanswered questions as you go
It’s ok to go back to earlier sections to add more ideas
It would be cool to show an animation that took one ven diagram for a previous technology and showed the techconnect process as identifying a new product. Can also animate in other alternatives that exist onto the job.
e.g., Breast Cancer assessment technology, breast cancer diagnosis as job, challenges of approvals >> evolve over to other job, non-destructive material assessment in manufacturing, alternatives, go to market implications…
Technology, Core Competencies, Capabilities, uniqueness – what are competencies and technology.
Ask / reframe question to get the group thinking
Question assumptions constantly
Don’t restrict or limit statements / claims unnecessarily
Post-It Notes
Write one idea per post-it
Try to write legibly
No Judgment / Don’t Filter
Write down anything that seems relevant; don’t trust your memory!!!
(including things others say as well as your own thoughts)
Find a spot to place every post-it on the template
Make sure to identify unknowns / unanswered questions as you go
It’s ok to go back to earlier sections to add more ideas
First Deconstruct Technology
What functions or tasks can the technology accomplish?
Under what conditions can it accomplish these things?
(include other unique / interesting aspects of how it does things)
In what instances are these strengths / when might this be good?
(also when might this seem like a weakness or seem bad)
Second Construct Relevant Jobs
What customer jobs require these functions or tasks?
(e.g., what are situations when these tasks are useful)
Which jobs are currently unmet and which have alternatives?
(also identify alternatives or competitors when they exist)
What are the advantages of this technology in each job?
(consider the complete process within the job and the consumption chain for this product / service vs. alternatives)
Maybe this is the place to reiterate the challenge to translational / applied research
This slide mixes the definition of technology as well as the unintended jobs.
Table should maybe be labeled ‘job’.
Potentially order for this section:
A single technology can solve different problems / serve market needs / do multiple jobs (defines technology and job – also each job can be done with multiple technologies < leave this till later but point back to this)
Technologies achieve commercial success in unexpected areas / doing unexpected jobs (turn into unexpected products?)
Technologies / core competencies / capability and competitive advantage / differentiation.
Jobs to be done framework
Product as a Technology <> Job match.
Maybe this is the place to reiterate the challenge to translational / applied research
This slide mixes the definition of technology as well as the unintended jobs.
Table should maybe be labeled ‘job’.
Potentially order for this section:
A single technology can solve different problems / serve market needs / do multiple jobs (defines technology and job – also each job can be done with multiple technologies < leave this till later but point back to this)
Technologies achieve commercial success in unexpected areas / doing unexpected jobs (turn into unexpected products?)
Technologies / core competencies / capability and competitive advantage / differentiation.
Jobs to be done framework
Product as a Technology <> Job match.
Knowledge occurs when an individual (or other decision-making unit) learns of the innovation’s existence and gains some understanding of how it functions.
Persuasion occurs when an individual (or other decision-making unit) forms a favourable or unfavourable attitude toward the innovation.
Decision occurs when an individual (or other decision-making unit) engages in activities that lead to a choice to adopt or reject the innovation.
Implementation occurs when an individual (or other decision-making unit) puts an innovation into use. Re-invention is especially likely to occur at the implementation stage.
Confirmation occurs when an individual (or other decision-making unit) seeks reinforcement of an innovation-decision that has already been made, but the individual may reverse this previous decision if exposed to conflicting innovation.