Y-Prize 2015-2016

Millicent PittsCEO & Executive Director Ocean Exchange

Y-Prize Business MentorWG ’91 (WEMBA 15)

https://www.linkedin.com/in/millicentpitts

Y-Prize 2015-2016

Enabling innovators to commercialize pioneering biomedical engineering

technologies

Y-Prize in Biomedical EngineeringCreating Your Proposal

Today’s agenda:

Key elements of your proposal

All are needed. Commercialization can fail due to failure of any one of the elements. Some are easier to fix than others.

Two stories about the garden hose and the surfboard. Perhaps a story about plastic toys as well. How I got my battle scars and successes in new business commercialization.

Think in terms of solutions, not merely technology.

Elements of a Superior ProposalMarketOpportunity

What need is met? Uniqueness?What do you plan to sell?Who is the customer? Who specifies?What is the value chain in your market?

Technology What is the value proposition?Who is the competition?Standalone use or part of a system?IP strategy: patents and know how

Team Skill set?Gap? How to fill?Easier to fix than inadequate technology.Advisory Boards are common.

Execution Critical path priorities. Be nimble!Milestones/Timeline. Scale-upResourcesImpact of competition on new entrant

http://yprize.upenn.edu

Questions?

Y-Prize in Biomedical Engineering