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Commercialization Strategies

Commercialization Strategies. Jenny C. Servo. Overview. What is commercialization? What is a commercialization Strategy? Factors that effect your choice of a strategy Sample strategies. What is commercialization?.

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Commercialization Strategies

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  1. Commercialization Strategies Jenny C. Servo

  2. Overview • What is commercialization? • What is a commercialization Strategy? • Factors that effect your choice of a strategy • Sample strategies

  3. What is commercialization? • “The process of developing markets and producing and delivering products or services for sale (whether by the originating party or by others)... commercialization includes both government and non-government markets.” -National Science Foundation SBIR Solicitation

  4. What is a commercialization strategy? Not defined in solicitations...but alluded to “...your company’s strategy for converting your proposed SBIR research into a product or non-R&D service with widespread commercial use - including private sector and/or military markets.” - DoD SBIR solicitation

  5. Commercialization Strategy The series of financing options that a company entertains to move its technology from concept to the marketplace

  6. Financing Roadmap Founders Sweat Equity On spec Federal Science for Hire State Corporations Economic Dev. $ Family friends Licensing Partnerships Subcontracts Debt Banks Leasing Business angels Accounts Association Attorneys Bankers Brokers Consultants Databases Print Media Equity Venture capital Investment Banker Profit

  7. Strategy Selection Process • Iterative ... build and test • Articulate at the outset and • Revisit • as you collect additional market data • as you develop the business case • during negotiations with partner/investor

  8. Commercialization Choices • Factors which effect your choice of a commercialization strategy • Mission • Vision • Business philosophy • Your current situation • Window of opportunity • Competitors

  9. Mission • Identity Statement • Business functions • Products and technologies • Markets served • Sustainable competitive advantage • For a company or a strategic business unit (SBU)

  10. Elements of Vision • 5-years out • Financial goals - revenue goals, profit margin goals • Market goals - customers served, market niche, geographic region, market share • Products and services • Image- How will you be perceived by customers, competitors, employees, community

  11. Typology of Visions The numbers are meant to be relative, not absolute

  12. Sample Strategy - Licensing VISION: Life-Style Company BUSINESS PHILOSOPHY Do what I enjoy

  13. Sample Strategy – Strategic Alliance VISION: Foundation Company BUSINESS PHILOSOPHY R&D and Manufacturing Conservative

  14. Sample Strategy - IPO VISION: High Potential Venture BUSINESS PHILOSOPHY I want to try it all

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