Tech connect fall 2014 technology commercialziation overview
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The document discusses challenges with the traditional approach to technology commercialization. It presents an alternative approach called TechConnect that integrates technology development with market understanding from an early stage. TechConnect involves understanding customer needs, validating market opportunities, and exploring multiple business models before significant resources are committed. This process aims to increase the likelihood of commercial success by developing technologies that meet real market needs.
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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.
Teams for technology development (ISPIM)
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.
Canadian innovators network
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.
Introduction to Innovation Management for SCFI
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.
SCFI - Day Two Barriers to Innovation and Sources of Innovation
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.
Disruption, Innovation and Risk
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.
Technion 2018 info
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.
Nserc presentation
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.
Technology commercialization
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 intro for Create Dav
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.
Investor mindset
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.
The imperative of commercializing university research
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.
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Tech connect fall 2014 technology commercialziation overview
- 1. The TechConnect perspective on Technology Commercialization
- 2. Challenge the traditional commercialization path Initial concept Initial research Follow on research Technology Funding commercialization Funding Funding Funding • Curiosity driven research (to solve apparent problem) • Promising outcomes receive more research funding • Papers published or patents filed • Handed to technology commercialization to license • Occasionally consider option of new venture creation
- 3. Challenge the traditional commercialization path Initial concept Initial research Follow on research Technology Funding commercialization Funding Funding Funding • Limited real understanding of problem • Limited market validation or competitor analysis • Value proposition and customer segment not clear • Value to licensee not compelling • Resources to start new venture not available
- 4. Managing technology commercialization as a process • Integrates market comprehension/tech. development: • Understand the product features that create value • Comprehend the barriers to adoption that limit success • TechConnect is a management process that can: • Clarify the alternate jobs that a technology can do • Embed market knowledge into the go/no go decision • Create an experimental view of each opportunity • Guide allocation of resources • Target initial (and subsequent) market segment • Increase likelihood of success for good ideas • Integrates technology, process, market and people •
- 5. Five big issues • Technology development is partitioned from market comprehension: • limiting commercial applications • Technology development focuses on improving performance: • might not be the required value proposition • Limited understanding of customer adoption: • not designed to facilitate adoption • Lack of ownership of technology: • reduces market momentum • Myopic view of application/opportunity: • limits alternate markets or business models
- 6. TechConnect is a lean combination of technology push and market pull Iterate initial idea Feasibility study Business model Go to market plan Reject Reject Reject • Starts with profound understanding of technology • Develops market hypothesis …. • Validates potential (prototype) before spending too much • Builds customer value proposition and adoption plans into technology / market plan • Evaluates alternative business models and segments: • To determine viability, and optimum route to market • Embeds go/no go decisions at each stage Reject
- 7. What you will learn • Novel and proprietary technology necessary, but not sufficient elements for technology commercialization • Initial job or market may not be the main, or the first, market opportunity • Value proposition must consider competitive solutions • Need to understand the eco-system, multiple stake holders and the barriers to adoption • Myopia can cause you to miss the big opportunity, the novel business model or the best application • The TechConnect approach creates opportunities for: improvement, learning and attitude adjustment
Editor's Notes
- There are pros and cons of each, in terms of impact, recognition, engagement, financial reward.
- There are pros and cons of each, in terms of impact, recognition, engagement, financial reward.
- There are pros and cons of each, in terms of impact, recognition, engagement, financial reward.
- Feasibility study includes technical and market feasibility Strategic objectives might include: investment, independence, exit
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