innovation on demand
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Transcript of innovation on demand
Market EntryPartner Search
Open InnovationMarket Research
Business Development
Innovation on Demand
INNOVATION ECONOMICS
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“Ask any CEO in the world to write a top-five wish list,” reports the Harvard Business Review, “and ‘more ideas – better ideas!’ will show up in some form.” This is true, in large part, because “ideas and innovation are the most precious currency in the new economy.”
Innovation is too important to leave to chance. So business leaders are searching the world – not just for new ideas, but for new business models and partners that will help foster innovation in a systematic fashion.
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“I not only use all the brains I have but all that I can borrow.”
- Woodrow Wilson, 28th President of the United States
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OPEN INNOVATION
One of the most exciting new developments is “open innovation,” which replaces secretive research performed behind locked doors with a collaborative approach that utilizes the best minds everywhere in a constant pursuit of more and valuable ideas, products, and processes.
“The locus of innovation,” says Henry Chesbrough, Executive Director of the Center for Open Innovation at the University of California Berkeley, “has migrated from beyond the confines of the central R&D laboratories of the largest companies and is now situated among various start-ups, universities, research consortia and other outside organizations.”
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AN OPEN INNOVATION ERA
Source: Henry W. Chesbrough, Open Innovation: The New Imperative for Creating and Profiting from Technology(Cambridge: Harvard Business School Press, 2003).
FROM:Closed Innovation Logic
TO:Open Innovation Logic
The smart people in the world work for us. Not all the smart people in the world work for us, and our customers have ideas, too.
In order to bring new products and services to the market, we must discover and develop them ourselves.
External ideas, when integrated into your architecture, can be as valuable as internal ideas.
If we discover it ourselves, we will get it to market first.
We don't have to originate (and own) the research in order to profit from it.
If you create the most, best ideas in the industry, you will win.
If you make the best use of internal and external ideas, you will win.
We should control our intellectual property (IP), so that our competitors don't profit from our ideas.
We should sell our IP to those who can make good use of it, and we should buy IP whenever it fits our own business model.
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“In the 21st century, innovation that matters will come from open, collaborative, multi-disciplinary and global engagement.”
- IBM Global Innovation Outlook, 2007
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“One of the most important lessons executives have learned about innovation in the past few years is that companies shouldn’t go it alone,” reported Business Week. “Increasingly, companies are drawing business partners and suppliers into innovation networks. That brings more minds to bear and speeds up product development. Once seen as novel and risky, such external collaborations are now accepted as necessary and even routine ways of doing business.”
Despite the virtual closeness enabled by information technology advances, innovation is best pursued through personal interactions at each stage in the process.
INNOVATION NETWORKS
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UNDERSTANDING INNOVATION
People studying innovation note four components of an innovative organization – whether a company, research facility, institution or government organization:
EXPERTISE. New discoveries, new knowledge and new insights come from smart people who are given the resources necessary for success.
INTERACTION. Face-to-face is still very important for the exchange of ideas and synergy that create new business models, marketing plans or products.
DIVERSITY. Ideas will only get better when they are openly discussed and considered by a mix of people with a variety of research fields, backgrounds, approaches and mind-sets.
APPLICATION. Ideas are useless unless used. The true proof of their value is in commercialization.
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INNOVATION PYRAMID
Source: Rosabeth Moss Kanter, Ph.D., Harvard Business School
At the bottom of the pyramid: a very broad base of ideas, experiments, incremental innovations, and deviations from routine. Most are incremental and immediately incorporated into improvements in existing businesses, but a few with greater promise get bumped up to venture status.
Many incremental quick wins and continuous improvement
Portfolio of new ventures, prototypes, projects
A few big strategic bets
A company’s innovation strategy can be thought of as a pyramid.
At the top of the pyramid: a small number of big bets about the future (technologies, products, markets) that warrant the largest amount of investment. They have been carefully selected, and it is fairly certain they will produce results.
In the middle of the pyramid: a larger portfolio with a number of ventures, innovation projects, experiments, and other projects that are promising but not yet proven. Their ultimate form and potential are still uncertain. It is assumed that a few will have big payoffs, a few will fail altogether, and the rest will be in the middle.
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MAKE THE LEAP TO INNOVATION
Breakthrough
Build Up
Accumulation of visible resultsBuy In
Build Momentum
Move forward with consistency
Flywheel: Consistency
“Good to great comes about by a cumulative process – step by step, action by action, decision by decision, turn by turn of the flywheel – that adds up to sustained and spectacular results.”
Source: Jim Collins, Good to Great: Why Some Companies Make the Leap…and Others Don’t
(New York: HarperCollins, 2001).
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INNOVATION ROADMAP
Successful organizations take the following steps to formulate and implement an innovation strategy and in doing so achieve improved efficiency and productivity, and success in global markets.
Develop a company-wide research and innovation strategy that not only puts in place all components for innovation, but aligns them in ways that provide advantages to all parts of the business;
Make investments in talent, research and resources in those focused areas where they can be world-class;
Mandate collaboration with universities, institutions, government organizations, and other companies;
Put world-class professionals in key positions;
Create an organization and consistent strategy that facilitates a continuity in partnering; and
Hold managers accountable for delivering on expected benefits.
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“Every day we’re saying, ‘How can we keep this customer happy?’ How can we get ahead in innovation by doing this - because if we don’t, somebody else will.”
- Bill Gates, Founder, Microsoft Corporation
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GUIDELINES FOR INNOVATION
The following six guidelines provide direction for putting the right structures, processes and people in place for an investment in innovation.
Innovation1
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GUIDELINE ONE
1Put all the pieces together.
Embed your R&D investments in a 21st century innovation strategy.
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GUIDELINE TWO
2Make the right choices.
Your company has strengths and needs – so find and fund them.
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GUIDELINE THREE
3Invest in collaboration.
Innovation is a team sport, with players from universities, industry and government.
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GUIDELINE FOUR
4Enlist experts.
There are lots of hard decisions in this process. You’ll need the best advice to make them well.
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GUIDELINE FIVE
5Be consistent while embracing change.
Innovation requires sustained effort, but must also evolve to changes over time.
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GUIDELINE SIX
6Measure results.
It may not be easy - but it’s critical to your success.
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“Creativity – generating ideas – is relatively easy.
Innovation – putting them to work – is far more difficult.”
- Theodore Levitt, “Creativity Is Not Enough,”Harvard Business Review, Executive Edition, Spring 2007
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WHY COMPANIES FAIL TO INNOVATE
• Not a top management priority• Failure is not accepted• Lack of clear project leadership• Lack of focus• Lack of vision• No process to guide innovation• Departmentalization• Insufficient resources• Not Invented Here (NIH) mentality
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MANAGING INNOVATION
Innovation goal objectives:1. Reflected in your strategic plan 2. Supported throughout the organization3. Clear and well-communicated4. Measureable
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PREDICTING INNOVATION SUCCESS
Gerald Tellis, Professor of Marketing, University of Southern California, researched 779 businesses in 17 countries and identified three factors that predict innovation success:
1. Willingness to Cannibalize
2. Companies that are willing to introduce new products that could supplant sales of existing ones are the most likely to succeed.
3. Future Market Focus
4. Companies that win with innovation focus on where customers and markets are going, not where they are today.
5. Risk Tolerance
6. Organizations that pursue radical innovations are most likely to take calculated risks, invest in new business ventures, and invest in higher-risk, higher-return opportunities.
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MISSION STATEMENT
Global Strategy’s mission is to generate value and revenue growth for clients by creating actionable business development and market research solutions in a timely, cost-effective, and professional manner.
COMPANY INFORMATION
Services Business Development Consulting: Market Entry, Open Innovation, International Trade, and Market Research
Established May 3, 2001
Mission
Locations
Generate value and revenue growth for clients by creating actionable business development and market research solutions in a timely, cost-effective and professional manner
Chicago, IL and Orlando, FL
Affiliations Association of Strategic Alliance ProfessionalsAssociation of University Technology ManagersBioFloridaChicago Council on Global AffairsFlorida Foreign Trade AssociationGlobal Consulting NetworkiBIOInternational Trade Association of Greater ChicagolandLicensing Executives SocietyOrlando, Inc.Strategic and Competitive Intelligence ProfessionalsSwiss Business Hub (Osec) Pool of ExpertsUK Trade & InvestmentWorld Trade Centers Association
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PRINCIPAL’S BIO
David A. Warar Founder and CEO
Education B.A. Microbiology, 1977 (University of Delaware)M.B.A. International Marketing Finance, 1983 (Loyola University)
Employment Abbott Laboratories – Group Leader: 1977–1984Intercon Research Associates – Vice President: 1984-2001Global Strategy, Inc. – CEO: 2001 to present
Accomplishments • Expertise developed over 25 years in the formulation and implementation of business development strategies, resulting in license, distribution, co-development, M&A, and other alliances.• Successfully positioned new products and technologies by providing customized business development consulting, actionable market research, and go-to-market strategy formulation and implementation in 350+ assignments for organizations in developed and emerging markets.• Expert witness in technology transfer and licensing for the U.S. Government in legal action against a U.S.-Japan joint venture.• Established the Global Consulting Network, an international group of 65+ consulting firms to provide seamless, integrated consulting services to clients in all geographic markets.• Serial entrepreneur founding companies in consumer health products, consulting services and business process outsourcing.
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CONSULTING EXPERTISE
• By blending the correct mix of customized business development solutions, Global Strategy consultants help clients reduce risk, increase benefits, and reduce the time and effort it takes to achieve desired outcomes.
• Our consultants utilize proprietary knowledge networks, global industry contacts, and proven methodologies to identify and analyze known and under the radar technologies, products, and companies.
• With pinpoint accuracy, our primary and secondary information research skills enable us to contact, generate, analyze, verify, and present data as actionable business intelligence and commercial opportunities.
• Seasoned Global Strategy executives possess several decades of industry and consulting expertise, coupled with broad international business experience and multi-lingual capabilities.
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• Advanced Manufacturing
• Chemicals + Materials
• Clean Tech + Energy
• Food + Beverage
• Health + Nutrition
• Life Science + Biotech
INDUSTRY EXPERTISE
• As experts in product, technology, and company search, we focus on the formulation and implementation of unique business development strategies that create opportunities for diversification, risk minimization, and reduction of investment in resources and time.
• We creatively construct mechanisms for our clients to achieve these goals through the following:
− Joint Venture− License / Technology Transfer− M&A / Equity Investment− Partnering− R&D Collaboration− Distribution / Marketing
• Our proven experience helps clients retain a focus on core competencies and/or successfully diversify into new products, technologies, and markets.
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OPEN INNOVATION EXPERTISE
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OPEN INNOVATION EXPERTISE
• Global Strategy searches for new products and technologies from a multitude of sources, including:
− Proven products from international markets
− New products from emerging companies which lack the resources to effectively commercialize them
− Technologies from corporate, university, government or other laboratories
− Intellectual property buried in major corporations
− Mergers & Acquisitions
− Licenses from companies in other industries where the technology is applicable in the client’s field of interest
• Global Strategy identifies, analyzes and generates actionable information on commercial opportunities and business intelligence, including new technologies and markets, emerging companies, and R&D pipelines.
• Our expertise is in accurately obtaining and verifying information on business opportunities that are under the radar (difficult to detect by conventional means) in developed and emerging markets.
• We provide clients with the knowledge and opportunity to act early on strategic information and to execute alliances with first-mover advantages.
under the radar tracking
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ACTIONABLE INFORMATION
Providing clear navigation for market entry
1. Determine competitive advantages
2. Provide market analysis
• High growth prospects
• Fewer barriers to entry
• Favorable economic and business climates
• Technology level
• Fit with global market entry strategy
• IP protection
3. Rank most attractive markets & segments
4. Determine competitive landscapes
5. Identify appropriate channels of distribution
6. Conduct product life cycle analyses
7. Establish pricing and margins
8. Evaluate modes of market entry (license, distribution, startup, etc.)
9. Formulate market entry/expansion strategy
10.Implement strategy and strike successful, long-term deals32
MARKET STRATEGY EXPERTISE
• Primary Market and Competitive Intelligence
• Market and Product Segmentation Research
• Sales, Marketing and Pricing Intelligence
• Competitive Strategy Evaluation
• Benchmarking and Best Practices
• Due Diligence Investigations
• Market Feasibility Studies
• Long-term Trend Analysis
• Industry Event Reports
• R&D Pipeline Analysis
• SWOT Analysis
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Global Coverage with Local Resources Deep Insights and Market Knowledge Verified, Actionable Information Confidential and Ethical Timely, Current Analysis Flexible and Cost-effective
MARKET RESEARCH EXPERTISE
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PARTNERING EXPERTISE
• Global Strategy consultants are experts in researching, formulating and implementing international business development, market entry and partner search strategies, targeted to enhance bottom line results.
• Our time-proven and unique methodology, specialized tools, experienced staff and team of Global Consulting Network partners provides clients with seamless, world class consulting solutions.
• Global Strategy’s comprehensive process is separated into distinct phases, each with end-points and deliverables targeted toward securing agreements with synergistic partners for long-term success.
• Our expertise in strategic planning, business development, open innovation, partner search, market research, international business, specific industry vertical sectors, and global networking generates
unique opportunities for clients to act upon with first-mover advantage.
GLOBAL EXPERTISE
Member companies operate in 65+ countries in :
• Advanced Material• Chemical• Cleantech• Consumer Goods• Energy• Environmental• Food & Beverage• Health & Nutrition• IT• Life Science• Medical• Transportation
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The Global Consulting Network, founded in 2003 by Global Strategy, is a group of independent consulting firms providing international business development and market intelligence services to clients.
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BUSINESS MODEL
• Our holistic approach to business development creates unique and superior value by customizing our deep experience, knowledge and processes to formulate and implement the correct strategies.
• Research, evaluate, design and implement proactive business and go-to-market plans targeted to client’s needs and focused on markets with the greatest ROI potential.
• Business development consulting services are provided on a fee plus success basis, while market research and business intelligence assignments are provided on a fixed-fee basis.
• We tailor the fee + success structure to meet the budgetary requirements of all types of clients, including emerging and established companies, research institutes, government agencies, and other
organizations.
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CONSULTING SERVICES
Open Innovation• IP Acquisition• Product Marketing• R&D Collaboration• Technology Licensing
Business Intelligence• Benchmark Analysis• Competitive Intelligence• Market Research• Technology Assessment
Market Development• License | Joint Venture• Investment | M&A• Startup | Expansion• Strategic Partnering
Industry Knowledge Contacts Networks
Global Business Expertise
Our Value-added Services• Reduce Risks of Market Entry
• Provide deep insight into market opportunities• Mitigate risks of uninformed decisions• Formulate and implement customized go-to-market
strategies • Improve Speed to Market
• Discovery and validation of “under the radar” business opportunities
• Provide first-mover market advantage• Facilitate local contacts and understanding of business
practices to enhance efficiencies• Enable Cost Savings and Transparency
• Provide access to local cost structures• Retain transparency and accountability in international
markets via our network partners• Bridge Insights, Innovation and Commercialization
• We utilize proprietary open innovation, partnering and information tools to empower clients with deep market knowledge and unique business opportunities
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VALUE PROPOSITION
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METHODOLOGY
• Global Strategy identifies, analyzes and generates actionable information on commercial opportunities and business intelligence, including new technologies and markets, emerging companies, and R&D pipelines.
• Our expertise is in accurately obtaining and verifying information on business opportunities that are under the radar (difficult to detect by conventional means) in developed and emerging markets worldwide.
• We provide clients with the knowledge and opportunity to act on strategic information prior to its wide-spread dissemination and to execute alliances with a first-mover advantage through:
Global Strategy proprietary information networks and databases
Industry contacts of our Global Consulting Network members located in over 65 developed and emerging markets;
Custom-developed personal relationships with key executives at corporations, emerging companies, universities, and technology clusters;
Unique access to financial organizations including VC and equity investment groups, and funding sources for emerging technologies.
under the radar
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TOPTECH OVERVIEW
We formulate and implement proactive, business strategies through product, technology, and partner search, market entry/development services, and generating, analyzing, and reporting primary market research and business intelligence.
Global Strategy’s targeted TOPTECH methodology provides clear strategy direction and partner selection from the variety of possible partnering arrangements (i.e. distribution, license, joint venture, M&A, company start-up, etc.) based on objective criteria:
− Propose, evaluate and rank the possible strategies for each market;− Identify potential partners and their products, technologies, & services;− Perform SWOT analysis of the companies, products, and markets;− Select partner candidates which best-fit your requirements;− Screen selected companies against mutually-established criteria;− Qualify their interest and capability in partnering with your company;− Assist with discussions, meetings, contract review and closing deals.
Phase I
Research, Identify and Evaluate Targets
Phase 2
Contact, Screen and Submit Opportunities
Strategize, Negotiate and Conclude the Deal
Phase 3
• Approach, evaluate and screen organization through targeted contacts and meetings
• Determine best fit to partnering criteria
• Profile and submit detailed information on qualified targets:
Company profile Products/technologies Market position Sales & distribution Financial strength IP portfolio Form of cooperation
• Perform primary and secondary research on markets and companies
• Generate and analyze data on optimal target markets, organizations, products + technologies
• Utilize proprietary TOPTECH analytics to develop a continuously updated, customized database of contacts
• Select and rank the most synergistic partner and product candidates
• Develop a short list of the most synergistic opportunities
• Formulate a customized action plan
• Structure and implement deal strategies
• Facilitate discussions and information exchange
• Lead negotiations
• Perform due diligence
• Review agreements
• Finalize deals
DEAL
Post-Deal Support
• Assist with conflict resolution, performance review, contract re-negotiation
• Provide sales management functions
Phase 4
Our analytical methodology is proven to lead to successful, long-term partnerships.
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STRUCTURED PROCESS
“Global Strategy’s consultants have a quick and sharp understanding of the information needed to prepare management decisions.”
Managing Director Germany
“I personally felt that the choice to engage Global Strategy was warranted based on our first contacts and I am pleased to see that this has proven in a short period to be a wise choice.”
Vice President, Business Development
Colombia
“I highly recommend GSI to my colleagues and to other companies who wish to diversify internationally and seek business opportunities in new product areas, new technologies and new markets. ”
Director, Business DevelopmentJapan
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“We found their work to be thorough and of high quality. I strongly recommend GSI for similar [M&A search] assignments.”
Senior Vice President USA
CLIENT RECOGNITION
Companies - small developing businesses to Fortune 100 multinationals - government organizations and research institutions engage Global Strategy for Open Innovation, Market Development, Partnering, and Market Research services.
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CLIENTS
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CLIENT EMPOWERMENT
We formulate and implement proactive open innovation and market entry/building strategies – providing clients a first mover advantage on unique business opportunities and deal-making.
We utilize specialized expertise, proprietary tools, global information networks, and targeted industry contacts.
We possess two decades of business development, industry and government experience, with a highly-successful track record.
We deliver an objective, independent, and long-term focus.
We provide a cost-effective solution for business development.
We empower clients to achieve measurable and sustainable success through our focus on delivering unique deals targeted to client requirements.
We generate long-term successes and produce results!
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under the radar tracking of early stage companies and innovation
Deep expertise in formulating and implementing Open Innovation, Market Development, Partnering and Market Research solutions
Worldwide coverage via our Global Consulting Network of consulting firms located in key developed and emerging markets in 65+ countries
Proprietary methodologies to maximize results through synergistic partner, product and technology matching
Former industry executives with broad, multi-cultural international business experience developed over 2 decades
Proven track record of creating sustainable alliances and generating actionable business intelligence to empower clients with first mover advantages
Global Strategy crafts proactive business development solutions for long-term success, structured to meet your objectives and budget.
COMPETITIVE ADVANTAGES
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CONTACT US
Global Strategy, Inc.David A. Warar, [email protected]
1750 W. Broadway St., Suite 103Oviedo, FL 32765 USATel: +1 (407) 951-6750Fax: +1 (321) 400-1143
2860 S. River Road, Suite 460Des Plaines, IL 60018 USATel: +1 (847) 813-6077Fax: +1 (321) 400-1143
www.consultgsi.com