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“Business Development Programs & Tools ”

Harvesting the Value of Innovation

Courtney Price, Ph.D.

© PEP 2005

Mission

“Harvest the value of innovation and technology to create enduring companies.”

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History• Founded in 1988 as PEP (Premier Entrepreneurship

Programs) • Selected by the Kauffman Foundation as the “best

entrepreneurship training initiative in America”• Programs used by over 200,000 participants worldwide• Founders authored the Internationally recognized

Premier FastTrac programs • Consult with federal labs, technology companies, and

universities• Broad industry and organization experience through

strategic alliances and association relationships

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Lab Commercialization Projects Managing Intellectual Property Guide (LANL) Management Overview: Accelerating Technology

Commercialization (LLNL) Technology Commercialization Overview (for PIs and

researchers) (ORNL) Technology Opportunity Assessment (LLNL) Market Validation (LANL) Commercialization Plans (DOE) Licensing Guide for Technology Valuation (LLNL) Technology Opportunity Presentation Toolbox (NASA) Technology Portfolio Evaluation Tool (ARN)

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Six-Step Commercialization Process

Think 1. Idea Generation

Screen 2. Pre- screening

Protect 3. Idea Protection

Assess 4. Business and Market Development

Validate 5. Product Development and Testing

Execute 6. Commercial- ization Strategy

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Scientific discovery

Opportunity discovery

Customer- driven problem solving

Laboratory notebooks

Disclosure forms

Technical evaluation

Lab prototype?

Business Concept

Seven-Step Opportunity Evaluation

Model Opportunity

Patent Copyright Trademark Trade secret

Opportunity Assessment

Executive Summary Innovation Team Product/ Service Analysis Market Strategy Financial Projections Valuation Analysis

Market Validation

Experts Competitors Customers Licensees

Customer prototype

Beta test

Refinement

Maturation

Commercialization Plan

Licensing Bartering Work-for- hire R&D funding Spin-in

Business Plan

Spin-outJoint VentureStrategic Partnership

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Technology Commercialization Challenges• Old Method

Regulatory Legalistic Risk Adverse Adversarial

• New Model Navigate around regulations Build realistic expectations Customer Focus PI’s Advocate

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Successful Commercialization Practices• Educate Researchers about commercialization• Measure and track Researcher’s satisfaction

with technology transfer program• Obtain Group Leaders support • Involve Researchers on assessing commercial

potential• Provide Tech Mat funds• Use graduate interns to validate market

assumptions• Publicize successes• Use Quick Screening Tools

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Model Technology Evaluation Tool

Speciallly designed software to measure:• Institutional Support for Deployment • IP Protection and Strength • Product/Service Features • Market Characteristics • Competitive Technologies • Commercialization Potential • Value to Argonne

26 Characteristics

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Model Technology Evaluation ToolResults:• Highlights technology’s the strengths and weakness • Demonstrates to researchers the true value of a technology • Indicates how to maturate the technology to increase its

licensing potential.• Provides a set of protocols that technology managers,

researchers, licensees, and division managers can use to evaluate the potential success of commercializing the technology

• Is a triage tool for decision-making and documents reasons for rejecting or supporting a technology

• Avoids creating unrealistic expectations about the technology’s commercialization potential among those creating and licensing it