Prepare the right plan to commercialize your technology company's innovation

Résumé du document

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.

Extraits

[...] Kim, W. Chan and R. Mauborgne (2004) Blue Ocean Strategy. Harvard Business Review. October 76-84. Chesbrough, H., J. Birkinshaw, and M. Teubal (2006) Introduction to the research policy 20th anniversary special issue of the publication of “Profiting from Innovation” by David J. Teece. Research Policy 1091-1099. Christensen, C.M. [...]

[...] (1986) Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy. Research Policy 285- Table A. Expected outcomes of commercializing an innovation of a new technology company 1. Does commercializing your company's innovation depend on assets, processes and relationships that incumbents own, control or influence? Yes No Option A. Compete with incumbents; your profits depend on incumbents' ability to imitate your innovation and your company's ability to deliver performance that is good enough for main stream customers over time and compete along overlooked dimensions Option B. [...]

[...] J. and J. H. Dyer (2007) Strategies to crack well-guarded markets. Harvard Business Review. May 84-92. Chakravorti, B. (2004). New rules for bringing innovations to market. Harvard Business Review. March 58-67. [...]

[...] (1997) The innovator's dilemma: When new technologies cause great firms to fail. Harvard Business School Press. Boston, MA. Christensen, C.M. and M.E. Raynor (2003) The Innovator's Solution: Creating and Sustaining Successful Growth. Harvard Business School Press, MA. Christensen, C.M., E.A. Roth and S.D. Anthony (2004) Seeing What's Next: Using Theories of Innovation to Predict Industry Change. Harvard Business Press, MA. [...]

[...] Question Can your company prevent incumbents imitating your innovation? 2. If satisfied with the outcome, prepare a plan that incorporates the key elements shown in Table B for the strategy selected. If not comfortable with expected outcome, first change answers to questions in Table A by modifying your company's innovation and then return to step 1. Christensen, Roth and Anthony (2004) define resources as things, assets, processes and relationships that companies can buy or sell, build or destroy. Resources include: people, technology, products, equipment, information, cash, brand, distribution channels Christensen, Roth and Anthony (2004) define processes as established ways companies use to turn resources into products or services. [...]