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When people think of innovation, they frequently think of the “big idea” or product while overlooking the fact that innovation is really a process. They think of innovation solely in the creative sense rather than considering the importance or even existence of an innovation methodology. Countless examples exist of good inventions that never succeeded in the marketplace or failed to live up to expectations while lesser ones thrived. Many of these failures could have been eliminated through use of an innovation commercialization process. This presentation describes the process and demonstrates its application through a case study.
Citation preview
2014 ASQ
Innovation Conference
Toronto, Canada
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Cheryl Tulkoff, ASQ CRE University of Texas at Austin MSTC
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Idea
Research
Prototype
Research
Good idea Bad Idea
$$$ Idea vs.
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Rob Adams, A Good Hard Kick in the Ass: Basic Training for Entrepreneurs
More than 60% of new products fail
◦ Established companies with deep resources
For start-ups, failure rate is 90%!
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Adams, Rob (2010-03-09). If You Build It Will They Come: Three Steps to Test and Validate Any Market Opportunity (p. 2). Wiley. Kindle Edition.
Core elements of innovation: ◦ Is different
◦ Adds value
Quicklook process goals: ◦ Reduce risk/failure by
understanding the customer & markets
◦ Avoid solution in search of a problem!
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Brett Cornwell (1998). 'Quicklook' commercialization assessments. Innovation: Management, Policy & Practice:
What is
desirable to
users?
What is
viable in the
market?
What is
possible
with
technology?
INNOVATION
Research snapshot
Quick GO/ NO GO evaluation of an opportunity ◦ Determine whether to put
more time, money, or effort into a technology
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Step by step approach for evaluating a product, process, or idea
Identify potential markets
Identify users and potential
licensees
Contact experts & companies
Identify barriers & opportunities
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Technology Description: Short, simple
Technology Benefits: User benefits, not function or features
Potential Markets: Pain, Opportunities
Market Interest: Level, Partners
Technology Development Status: Concept, Prototype,
Product
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Intellectual Property Status: Patent, Trademark,
Secret
Competing Technologies and Competitors
Barriers to Market Entry: Weaknesses, Threats
Recommendations: Go / No Go
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Primary Research
New Info
7-10 Productive
Interviews
Secondary Research
Existing Info
Databases
Resources
Alumni
Industry Groups
Publications
The Elevator Pitch
1. Who you are How you’re connected: alumni,
associate,
How you found them: LinkedIn, industry group, publication
2. Brief technology description
3. Why you want to talk to them
4. Why they want to talk to you
5. No sales pitches!
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Hello Nick, How are you? My name is Cheryl Tulkoff. I'm an engineer and current graduate student in the Masters of Science in Technology Commercialization program at UT Austin, TX. I found your information in the alumni directory and thought you might be able to help since Merck is the worldwide revenue leader in vaccines! I'm doing some market research for dry vaccine technology in support of a new patent pending process developed at UT. My team and I are trying to understand the licensing process that companies like Merck use. What factors are important to companies like yours when they evaluate whether to license an opportunity. Do you see sufficient benefits in having vaccines that are not subject to cold chain requirements? I’d love to ask you a few brief questions. It would take no longer than 15 minutes and my schedule is completely flexible.
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Voice of
the
Customer
Motivation
Buying
Cycle
Decision
Making
What’s
Important
Technology
Perception
Pain
Quality
'After as little as 10-20 hours of research, staff have been able to provide reports to business managers which suggest the level of early interest in the technology; identifies potential partners; and points to potential ‘trouble spots'.'
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Dry Vaccine Process
VAX Technology
MSTC 2015 Team 15 15
VAX Technology
• Pain
• Technology
• Barriers
• Market
• Next Steps
"One time power went out at our clinic and the refrigerator stopped
working and we had to throw all of the vaccines out.“ Ben
Facility Unit Director
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Proven Effect Potential Effect
Tetanus Hepatitis A
Diphtheria Hepatitis B
Pertussis Virus vaccines
Poliomyelitis
Pain • 1.5 million children die
each year from vaccine-
preventable diseases
• Stringent temperature
requirements for storage,
transportation, and
distribution
oVaccine waste is over 50%
“A recent plane diversion left vaccines
sitting in a warehouse for two weeks –
all wasted,” Melanie,
Director of Clinics 17
New Vaccine Drying Process
"It means that we can get out to more children in countries where
immunization coverage is at only 50%. We can reach 100%.“ John Lloyd
• Freeze Dried Vaccines
o Reconstitutes to liquid form at clinics
o Not subject to constraints of “Cold Chain” supply
o Works with only select vaccines
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Technology Status
• UT Austin filed 1 PCT
patent application o 148 countries
• Beta product &
commercial
prototype available
• Working to apply the
method to other
vaccines to show
broad applicability
"It would no longer be the rule that people living in the remotest areas
would be the last to be served, if they are served at all.“ Dr La Force,
Former director of the Meningitis Vaccine Program, set up by WHO
http://www.otc.utexas.edu/publications/TechNews_Spring
14.jsp
Dry Vaccine Particles
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Behind the Curve? Disease
Coverage
Temp
Stable
Needle
Free
Protected
IP
Regulatory
Approval
Current Tech Broad Some
VAX Tech Narrow None
Nova Labs Narrow Some
AKTIV-DRY,
LLC
Intermediate Some Some
StablePharma Narrow Some Some
Vaxxis Nano Broad Some Some
Soligenix Narrow Some
PATH Tablet Narrow Some 20
Nova Labs
-VitRIS and HydRIS®
products
-On Market
Stable
Pharma
-StableVax
- 2014
market launch
Soligenix
-ThermoVax
-Focused on BioTerror
-In Trials
AKTIV-DRY
-Dry
powders
for vaccines
- On Market
Competitive Threats
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Vaxxas Nanopatch
Eliminates additives, adjuvants
Harvard
On demand vaccines with engineered nanoparticles
PATH
fast-dissolving tablet (FDT) vaccine
Tomorrow’s Technology
“I routinely order 30% overage to compensate for losses & waste $3-
$6k per 50k vaccines delivered” 22
Potential Market
● Larger market
growth happening
outside US with
poorer economic
conditions
● $25.3 billion market
in 2010
● $39.5 billion market
by 2015
http://www.genengnews.com/Media/images/Article/Nov0111_BioMktT
rnds1421311133.jpg
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Next Steps • Licensing is the way to go
• Reduces the need for investment & infrastructure
• Follow up on domestic market opportunities
• Pursue needle-free packaging
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Licensees & Partners Serum Institute of India
• Licenses vaccines
• Supplies to WHO, UNICEF, PAHO & > 140 countries
Private Foundations
Public-private partnerships
Aespira Ltd.
• Inhaler product for generic dry powder drugs
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MSTC 2015 Team 15
Members Daniel Cloud
Liz Shumpert
Brian Wilson
Anthony Mallon
Cheryl Tulkoff
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Quicklook process provides a method for
technology commercialization assessment that is: ◦ Rapid
◦ Affordable
◦ Data-driven
Reduces risk of failure ◦ Identified the best markets, best customers, partners
Identifies best way to proceed if technology seems
viable
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1. Brett Cornwell (1998). 'Quicklook' commercialization assessments. Innovation: Management, Policy & Practice: Vol. 1, No. 1, pp. 7-9. doi: 10.5172/impp.1998.1.1.7.
2. Cornwell, B. (1997). The RIB-IT View. In T. F. Schoenborn, The RIB-IT Views (pp. 301-308). US Federal Laboratory Consortium.
3. Quicklook Methodology & Relationship Marketing; Dr. Brad Zehner, July 2012.
4. Mind Map and Demonstration of the Quicklook Methodology for Technology Commercialization; Andrew Paul Harbert, UT Masters Thesis.
5. Jolly, V. K., Commercializing New Technologies: Getting from Mind to Market.
6. Boston: Harvard Business School Press.
7. Rob Adams, If You Build It Will They Come: Three Steps to Test and Validate Any Market Opportunity.
8. If we switch over to start-ups, the failure rate takes a huge leap to 90 percent.
9. Adams, Rob (2010-03-09). If You Build It Will They Come: Three Steps to Test and Validate Any Market Opportunity (p. 2). Wiley. Kindle Edition.
10. http://www.aztekgv.com/index.php/services/reports/quicklook
11. http://www.ic2.utexas.edu/global/services/education/assessment/
12. http://utenportugal.org/wp-content/uploads/Quicklook-Report.pdf
13. https://acc.dau.mil/CommunityBrowser.aspx?id=50609
14. http://www.slideshare.net/cchittim/quicklook-technology-assessment-topmod-softwareccchittim
15. http://www.gao.gov/products/GAO-12-400SP
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Cheryl has over 22 years of experience in electronics manufacturing focusing on failure analysis and reliability. She is passionate about applying her unique background to enable her clients to maximize and accelerate product design and development while saving time, managing resources, and improving customer satisfaction.
Throughout her career, Cheryl has had extensive training experience and is a published author and a senior member of both ASQ and IEEE. She views teaching as a two-way process that enables her to impart her knowledge on to others as well as reinforce her own understanding and ability to explain complex concepts through student interaction. A passionate advocate of continued learning, Cheryl has taught electronics workshops that introduced her to numerous fascinating companies, people, and cultures.
Cheryl has served as chairman of the IEEE Central Texas Women in Engineering and IEEE Accelerated Stress Testing and Reliability sections and is an ASQ Certified Reliability Engineer, an SMTA Speaker of Distinction and serves on ASQ, IPC and iNEMI committees.
Cheryl earned her Bachelor of Mechanical Engineering degree from Georgia Tech and is currently a student in the UT Austin Masters of Science in Technology Commercialization (MSTC) program. She was drawn to the MSTC program as an avenue that will allow her to acquire relevant and current business skills which, combined with her technical background, will serve as a springboard enabling her clients to succeed in introducing reliable, blockbuster products tailored to the best market segment.
In her free time, Cheryl loves to run! She’s had the good fortune to run everything from 5k’s to 100 milers including the Boston Marathon, the Tahoe Triple (three marathons in 3 days) and the nonstop Rocky Raccoon 100 miler. She also enjoys travel and has visited 46 US states and over 20 countries around the world. Cheryl combines these two passions in what she calls “running tourism” which lets her quickly get her bearings and see the sights in new places.
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