Morgan Center for Entrepreneurship whose professionals assist entrepreneurs with business plans, product ideation, market analysis, funding, grant writing and legal counsel. A startup becomes a Foundry Certified Startup once it has completed an assistance program called the LaunchBox. After completing this program, an entrepreneur can begin licensing their technology through the Purdue Office of Technology Commercialization OTC. This is followed by a clear description of the business at a point in the future — usually three to five years out — at which time it will have different resources and abilities, greater profitability and increased assets.
The purpose for funding the research is to generate results that will have a positive societal benefit. This goal can only be met if the technology is successful and if it is commercialized, or brought to market.
Most research and development firms have limited experience with commercialization. Therefore, commercialization planning will require consistent attention concurrent with the development of the technology.
Before writing this section, articulate the following items, jotting them down in a word file. You will see that in the first paragraph they talk honestly about their experience with commercialization.
An SBIR commercialization plan needs to address both. For a Phase I SBIR commercialization section, I suggest specifying at least one target market based on your discussions with the TPOC and the intended end users of the technology. As a strategy, commercialization requires a business develops a marketing plan, determines the supply of the product to the market, and anticipates barriers to success. Template Startup Commercialization Plan A good business plan always requires a good Executive Summary, and a solid Executive Summary can also serve as a quick.
In the second paragraph the commercialization strategy is articulated with a brief explanation provided. Finally in the last paragraph the individual that will be responsible for spearheading the commercialization activity is identified and the role that they will play clarified. The next section to consider is the intellectual property or IP section.
Begin by reviewing the intellectual property section in the example provided by DOE. You will see that the author shows evidence of having explored the patent literature.
The author states what has been found, and then presents the IP strategy that the company will utilize to protect their intellectual property.
It is important to consider that there are multiple ways to protect intellectual property. Although patents are often used to protect intellectual property — when it comes to software and algorithms it is more common to use a combination of copyright and trade secrets because of how rapidly things commercialization business plan.
Be sure to consider what the appropriate forms of IP protection are for your intellectual property. Sometimes companies present excuses as to why they are not protecting their IP via patents, when this is the appropriate course of action.
Often the reason presented is lack of funds. Also, keep in mind that if you plan to license your IP to another — intellectual property protection is very important. Before drafting the Intellectual Property section, follow the same approach as you did with the company section.
Jot down information regarding the following items in a Word document After you have prepared your notes, draft the intellectual property section. The Market Opportunity section is much more difficult to draft, as it relies on gathering information from other sources.
Please keep in mind that at Phase 0 you are asked to take an initial look at market opportunity. At this point you are taking a very quick, somewhat superficial look at the market opportunity. There are various ways that you can approach this challenge. First, the concept of market implies the potential number of entities that have problem X or could benefit from product Y.
Market opportunity is expressed in dollars or units. Any of these are expressions of market opportunity. What is important to keep in mind is that market opportunity is not strictly for your product — but for a class of products and solutions that could be provided by you and all competitors.
In other words, a market opportunity is NOT the same thing as your sales projection. If there is a need — then it is one that you and your competitors can all hypothetically fill. So how do you find this information?
Please review the accompanying demo to see how I went about finding information that provided the information that I needed. Once I have found the needed information, I look again at the DOE example of the Commercialization plan and notice that in the first paragraph of the Market Opportunity section that the proposer clarified what their product was and discussed their competitive advantage.
In the second paragraph the estimated size of the market opportunity was mentioned as well as those factors that were contributing to market growth. The company identified who their customers would be — i.
Based on the value proposition identified for the targeted customer, an estimate was made of the market penetration that the company could achieve.
Here you have to use some judgment and perhaps refine your market if it is not reasonable to think that you can penetrate the global market using the strategy that you articulated at the outset. Now that you have gathered the information, draft the market section.
Also include the names of some of the competitors in this market. The last element of the commercialization plan is a Revenue Statement.
This is frequently the hardest part of a Phase I commercialization plan to write — because at this point you may have very little upon which to base your projections.Product Commercialization - By Neil Maclure. Product Commercialization - By Neil Maclure Product CommercializationThe Commercialization Action Plan a.
Physical Environment c. Design the Product pre-launch planning and preparation • Product business case development and general business planning • Commercial roadmap including launch.
The commercialization plan should offer a clear and concise description of the proposed work’s market potential and the planned path to commercialization.
It describes the strategy that your organization will use to generate revenue, business opportunities, maps out a strategy to move forward and describes the current and anticipated. Commercialization Plan A good business plan always requires a good Executive Summary, and a solid Executive Summary can also serve as a quick pitch to a potential investor.
Commercialization or commercialisation is the process of Commercialization is often confused [by whom?] with sales, marketing, or business development. The commercialization process has three key aspects: Prospective vendors should decide on an action plan  for introducing a proposed product - a plan shaped by.
As a strategy, commercialization requires a business develops a marketing plan, determines the supply of the product to the market, and anticipates barriers to success. Commercialization strategy and business plan development Home Services Consulting Services Commercialization Strategy IDTechEx will support you in profiling your areas of competence, identifying growth areas matching your expertise, evaluating market opportunity, and developing your business plan and commercialisation strategy.