The Commercialisation Process

 

The purpose of this workshop is to provide delegates with an overview of the process that starts with; 

  • The recognition that a person or an organisation has an asset (e.g. an idea, data, existing intellectual property or product) that could provide the basis for new commercial activity,

through the stages that result in

  • The introduction of a new service or product to the market

and then

  • The factors that come into consideration during the service / product life cycle and the development of the overall business associated with the service or product.

The structure of the workshop

The workshop will be delivered over a one day period from 09:00 to 16:30. It will comprise of a short set of introductory remarks, in which the overall scope of the Commercialisation Process will be mentioned, i.e. from idea to mature company, followed by 5 tutorial modules of 45 minutes duration, which will include time for a couple of questions, and finally a closing session for (a) delegates to ask the presenters questions on any aspect of the workshop that they wish to learn more about, and (b) network with other delegates.

 

The modules

Module 1 - recognition of an opportunity

  1. is there a culture in the organisation that supports new commercial activity
  2. who wants to do it / who has a responsibility to make sure things happen
  3. What systems are in place to
    1. record the possible opportunities
    2. prioritise opportunities
    3. start & support the commercialisation process

Module 2 – Understanding the ‘asset’ pool

  1. The people
    1. who is the champion and is there a support team
    2. Do the in-house people have the drive and skills to make a commercial success
  2. What problem does the ‘technology’ address and do you have a complete or partial solution
  3. how far has the ‘technology’ been developed (concept, initial data, prototype? [TRL])
  4. Is the technology formally protected (e.g. patent application) or is it something that is in-house know-how
  5. If there is a patent application what are its strengths / weaknesses (early stage filing to granted status; geographical cover, claim scope etc.)
  6. What in-house skills, facilities and budget is there to support the technology development and the commercial exercise
  7. Are there competitive technical solutions and if so why is yours different and better

 Module 3 – Who are your customers & understanding the market

  1. Who is going to pay for your service / product and what is important to them
  2. Are the technical features you offer actually required and if so what ‘value’ do they have
  3. Are you offering an improvement to current practice or something completely new
  4. Are the advantages you can offer sufficient to justify adoption of your solution given barriers to market entry such as regulation, established competition, cost, third party intellectual property, etc

Module 4 – the business model & getting started

  1. The way which you make money, i.e. establishing a base of paying customers, must align with the understanding of the ‘market’: what are the choices and the respective cost and returns?
  2. Service based business – is it scalable
  3. Product based business – in-house manufacturing, assembly and distribution or out-source one or more functions
  4. The BUSINESS PLAN – does it make sense?
  5. Starting: forming a new company / business unit or licensing others (or a mix)
  6. The team (founders, the board & advisors, management, investors)
    1. Their roles and objectives

 Module 5 – creating ‘shareholder’ value

  1. What do different shareholders want
    1. Return on investment in 5 years
      1. Sale to third party, sale to existing shareholders, IPO
    2. long term sustainability
      1. small specialist
      2. continuous growth (organic / acquisition)
    3. protecting shareholder value
      1. share structures
      2. option schemes