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CommercializingYour Innovation

RICAP CTW Feb 24 2016

Rohit ShuklaFounder & CEO, Larta Institute

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What is Commercialization?

Process to establish revenue-generating outcomes from

developing, extending and evolving an innovation/s

May be derived from a single core expertise, or increasingly

from multiple sources (convergence of several technologies)

What you offer should demonstrate:

how it is different from current practice

what it offers current market players and

your ability to meet or exceed their expectations

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Landscape of Commercialization

Long and Winding Road

Highly competitive, widespread (global) competence, research

excellence, major developments in IT, life sciences, material science,

music, fashion and design, etc.

Cross-cutting technologies like simulation and visualization,

AR/VR, CRISPR/gene editing, nanotechnologies (materials).

Global capital flows, licensing deals, joint research, milestone-based

partnerships, capital pools (accelerators with funds) etc.

The issue is how do you bring mindsets (culture), assets (intellectual,

history) and daring (risk-taking) to be focused on revenue, relevance

and relationships to gain market position?

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Landscape of Commercialization

“Body Contact Sport”

Many stakeholders: investors, partners, media,

employees, end-user/consumers, governments,

Communication is key

Difficult to get attention; claims are made fast and die fast

Trust is established through and within “Networks”

It is a global game

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At the Level of Your Business

The act of structuring and managing a

commercial venture on a business basis for profit

including establishing relevance, building relationships

and achieving revenue:

Develop and acquire customers

Add value to customers, partners

Achieve market entry and general market competitiveness

of new and existing technologies, products, services, and

processes

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Questions: At the Level of Your Business

In a new, Globalized World, know what you have:

Is this an incremental innovation or a great leap

forward?

Does it represent a core technology used across a

number of applications and/or

Does it increase efficiency, efficacy, capability?

How do you compare with what exists in the market, what

is the “prior art” and what future “derivatives” are possible?

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Your values and assets

Why are you doing this? What is your end game?

Be honest:

Is this a lifestyle company? A “one-trick pony?” A project you

have dreamed of? Does it meet a great need you understand

to be out there?

Who are you interested in selling to? Why would they care?

What do you really have that enables you to meet this need?

Technical competence, yes, skill, yes, but

An outline of the business: people, functions, resources

Understanding the competition (incumbents and inertia)

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What will RICAP do for you?

RICAP gives you access to an experienced and dedicated team to:

Receive customized support to address challenges faced

by you – the technology entrepreneur in Romania

Help you discover and evaluate your commercialization

potential and options; focus on gaps/specific issues

Assist you in the development of market-appropriate tools to

accomplish specific commercialization objectives in

addressing the gaps and preparing for the market