Commercialization Tool
Draft: Please send comments to bailetti@sce.carleton.ca
Prepare the right plan to commercialize your technology company’s innovation
Introduction Technology entrepreneurs such as you need to prepare a commercialization plan. The commercialization plan describes how you will transform a promising technology into economic benefits for your company’s stakeholders (i.e., customers, collaborators, founders, investors, employees). For many technology entrepreneurs the preparation of a commercialization plan is a challenge for at least five reasons. First, the entrepreneur does not know what makes a commercialization plan the right plan. Preparing the right commercialization plan is much more difficult than just preparing a plan. Second, this is the first time that the entrepreneur must truly define the value the innovation will deliver the company’s stakeholders as well as the reasons why the company will win in the marketplace. Third, the entrepreneur needs to decide whether to compete or collaborate with incumbents. Incumbents are established companies operating in the market the entrepreneur wishes to enter. Fourth, the entrepreneur needs to decide with whom to partner to enter the market and how the resulting profits from such a partnership will be distributed. A partner is an individual or organization (e.g., another new technology company, customer) that helps get your company commercialize your innovation. A partner does not include incumbents or suppliers. Fifth, the entrepreneur needs to decide whether to raise external capital or grow organically. The lack of venture capital may limit the entrepreneur’s growth options.
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Objective The objective of the tool is to help you: • decide whether to compete or collaborate with incumbents • identify what an entrant needs to do to successfully commercialize an innovation in a market where incumbents operate
Tool highlights The tool is designed to help define the right commercialization strategy for an entrant.
Prepare the right plan to commercialize your technology company’s innovation
Introduction Technology entrepreneurs such as you need to prepare a commercialization plan. The commercialization plan describes how you will transform a promising technology into economic benefits for your company’s stakeholders (i.e., customers, collaborators, founders, investors, employees). For many technology entrepreneurs the preparation of a commercialization plan is a challenge for at least five reasons. First, the entrepreneur does not know what makes a commercialization plan the right plan. Preparing the right commercialization plan is much more difficult than just preparing a plan. Second, this is the first time that the entrepreneur must truly define the value the innovation will deliver the company’s stakeholders as well as the reasons why the company will win in the marketplace. Third, the entrepreneur needs to decide whether to compete or collaborate with incumbents. Incumbents are established companies operating in the market the entrepreneur wishes to enter. Fourth, the entrepreneur needs to decide with whom to partner to enter the market and how the resulting profits from such a partnership will be distributed. A partner is an individual or organization (e.g., another new technology company, customer) that helps get your company commercialize your innovation. A partner does not include incumbents or suppliers. Fifth, the entrepreneur needs to decide whether to raise external capital or grow organically. The lack of venture capital may limit the entrepreneur’s growth options.
1
Objective The objective of the tool is to help you: • decide whether to compete or collaborate with incumbents • identify what an entrant needs to do to successfully commercialize an innovation in a market where incumbents operate
Tool highlights The tool is designed to help define the right commercialization strategy for an entrant.