Technology Acquisition and R&D with Enterprise Ireland, PJ'O'Reilly
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Transcript of Technology Acquisition and R&D with Enterprise Ireland, PJ'O'Reilly
TitleSub-title
PLACE PARTNER’S LOGO HERE
European CommissionEnterprise and IndustryEuropean CommissionEnterprise and Industry
The Stage Gate Process for R&D and New Product Development.The European Enterprise Network – Licensing
as a possible alternative to in-house R&D Galway May 26th 2015
P.J. O’Reilly
Title of the presentation | Date |2
Aims
• Prompt you to re-evaluate your own particular business concept and position with a more commercial bias.
• Consider Technology Acquisition and or R&D• Consider idea generation and evaluation• Stage-gate concept• IP and its commercial value to your business• Prompt you to look at strategies and
approaches to developing your own business
Title of the presentation | Date |3
605 partner organisations in
52 countries
Geographical Spread of the Enterprise Europe Network
Recent - USA, MexicoRussia, ChinaSouth KoreaTunisiaJapan Brazil CanadaIndia
Title of the presentation | Date |4Your Company Type and the associated Risks
Established business (improvement to existing product, introduction of a new product to existing market,
Introduction of existing product to new market)
New business (new entity, new product, unknown market)
Title of the presentation | Date |5
Your Idea / concept
Consider the following questions.
• What is it
• Who wants it (customer)
• Why do they want it (customer need or want, competitive advantage)
• Will they pay for it
• What will they pay for it
Title of the presentation | Date |6
Idea evaluation
• Evaluate novelty of idea from journals, trade information, web searches, patent searches (how new is it, will it create competitive advantage in its target market? Is there a need to use someone elses IP to produce your product? will it generate IP?)
• Be sure evaluation is objective. Be cautious about subjective evaluations (eg family, friends etc)
• Eliminate or shelve non commercial ideas!!! (do not get trapped by or become obsessed with a poor idea)
Title of the presentation | Date |8
Development Process and Stage-gate
• Develop concept• Evaluate (pass or kill)• Prototype stage• Evaluate (pass or kill)• Design stage• Evaluate (pass or kill)• Design for manufacture• Evaluate (pass or kill)• Launch.
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Why stage-gate the development?
• Development costs increase with time
• It costs little to kill off a project at ideation stage
• A misconceived project pushed to product launch stage or a product that does not sell, can kill your business
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Reality Check
Risks involved in starting a business
from an idea. 100 evaluated ideas results in one
commercial product (100 to 1)One idea (odds remain the same 100 to 1)Critical therefore to minimise overall risk
and exposure to loss
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Audits
Know and understand what gives your company competitive advantage and value (what do you do better than others)
The key strengths and weaknesses of your company
Where or with what person do capabilities reside within your company
Understand, record and manage these sources of competitive advantage.
Title of the presentation | Date |12
IP / Patents
• There may be protectable IP in the future from your idea (know-how, secrecy, patents, design, copyright) do not give it away foolishly during development stage.
• Consider “Real” or “Commercial” value of patent
• To patent or not. Can your claims be engineered around. What strength exists in the claims.
• First to market advantage
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Business Elements
• Design, R&D, Manufacturing, HR, Finance, Marketing, Sales, Distribution, Customer relations, technical support, After-sales service.
• Success requires numerous specific skill sets, clear strategies, systems and planning.
• Avoid the natural tendency to hide in your own comfort zone
Title of the presentation | Date |14Extracting money from an idea or starting a
business???
Overall business strategy.Is your aim to make money from your idea
or is your aim to start a business using your idea as a springboard.
What business will you be in?What will your business look like? (lifestyle
company or a multinational). Who are your customers etc
Title of the presentation | Date |15
Extracting money from your idea
NO ONGOING BUSINESS FUTURE --- OPTIONS INCLUDE
Outright sale of idea (patented or not) Develop business with the specific intention of selling
in the short to medium term Partnership / licensing model Combination of above
Title of the presentation | Date |16
Market Development
• Strategy (manufacture and sell, or license,)
• Target markets, sectors, territories• Distribution channels, agents,
licensees, Legislation • CE marking, compliance, certification,
approvals• Packaging• Marketing materials
Title of the presentation | Date |17
Consider
An idea in itself is commercially worthless!!!
There is nothing new in this world!!!All inventors are fanatics and
possessed!!!I know this is worth Millions!!!!!Build it and they will come!!!!
Title of the presentation | Date |18
Do’s
• Start with customer view of the world• Evaluate, validate, test. early and often.• Be objective, do not fall in love with your
invention• Shelve or kill projects as early as
possible• Develop all aspects of business project
concurrently
Title of the presentation | Date |19
Do’s and don’ts
• Identify gaps in skills and experience and resolve them
• There is assistance available, avail of it
• Call us
• Innovation Vouchers and Innovation Partnerships.