Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290 Technology Commercialization. Krakow 09 September

Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290

Technology Commercialization.

Krakow 09 September 2012

Edward Scott

ES Technology Limited



Technology Commercialization

•Technology - The making, modification, usage, and knowledge of tools, machines and techniques, in order to solve a problem, improve a preexisting solution to a problem and achieve a goal.

•Commercialization - The process or cycle of introducing a new product or production method into the market


The process of introducing a new product or system into the market using new or improved techniques or tools.

Technology Commercialization





The Roadmap to Success



The Roadmap to Success

1. Research and Identify the market

2. Find and understand your customers

3. Invent and innovate

4. Protect - patents, trade marks, know how, etc

5. Build a business - Commercialize



1.Research and Identify the market

• Diversions

• Traps

• Pitfalls

LEARN THE EASY WAY


• Avoid learning the hard way

• Be realistic

• More than a year

• Cost millions of dollars

• Avoid trial and error


• What don't you know?

• What do you wish you knew then?

• Most don't realize how difficult it is

• Most don't understand how long it will take

Research and Identify the market



The process is long, large, expensive, and complex



• First to have the idea

• Opportunity to profit

Are you first?

“A hole in the market does not equal an opportunity in the market”



“Others may have tried and died so avoid the same fate”



Talk to your peers in the industry

• It may have been tried before

• Past failure may not mean your failure



The Best 1st Dollar you can spend



The Best 1st Dollar you can spend

Sound competent advice

• Patent submissions

• Invention promotion

• Advertising that they don’t need or understand

• Unnecessary inventory


• Do it right

• Competent advice

• Ask for references

• Interview


Holistic approach to technology commercialization

• Manufacturability

• Economics

• Marketing

• Use by customer

• Market size & growth rate



Good ideas - Bad Products

• Not viable manufacturing techniques

• Expensive

• Apprehensive market

• Ahead of its time



“The advantage your product has over your competitors”

Competitive advantage

• What is it ?

• Don`t focus on the attributes alone

• Dominate your competitors

• Research the market

• Do your homework - be prepared

• Understand the rules



“Is there a need for my invention - NO”

Consumer need versus market demand

• Market need

• Market demand

• Difference between need and demand



Q - Why would someone buy something they did not need?

A - Because they wanted it

Q - Do you know someone who bought something they did not want?

A - Of course not

Market - Need Versus Want





I need a carI want a Ferrari




How can there be a need for a product but no demand for it?

If the market is not even aware that the new technology exists.

Question

Answer


The “what if” scenario

• Should I tell anyone?

• Should I tell everyone?

• What if no one believes me?

“A market need for a technology exists on its own merit.

A market demand for a technology must be created”



Ingredients for success

• Find out what your customers want

• Offer it to them



• Find great customers

• Do your research

• Don`t sell to anyone who says the will buy

• Your customers can kill your business

✴ Unreasonable

✴ Habit of non payment

✴ Never know what they want

✴ Too big for you

✴ Push for lower price

✴ Reverse engineer your product

✴ Go into competition against you

2.Find & understand your customers



Sustaining your business

What to do next?



• Customers are restless

• Customer want more but want to pay less

Staying ahead of your competition



3. Innovation


Innovation is the creation of better or more effective products, processes, services and technologies


Why Innovate ?

• Without innovation - your business has no future

• The ultimate goal of innovation is to create value in the minds of your customers – whether this is business to business, directly to the end users or consumers.



• Patents do not = protection = good business

• Should I patent?

• Only 2% of patent holders make money from their inventions - USPTO 2010

• 50 granted patents only 1 makes money

• 98% fail to make money on their invention

4. Protection



Turning a new technology into a dominant business

• Find the IP - The Funnel process

• The Commercialization Process

• The Market

5. Build your business



Successful Technology Commercialization



The Key to success

A Great technology does not = a Great company



“Success is the result of unrelenting Persistence and unbounded optimism”

Thank You!

References:- S.Overhault


Edward ScottES Technology Limited12 Steed Road,Waitakere, AucklandNew Zealand

+6421661290

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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290 Technology Commercialization. Krakow 09 September