This presentation was held by Dr. Carolina Garcia Rizo during the FITT conference „ICT Innovations: Research > Business > Society“ on 10 May 2011 in Brussels. www.fitt-for-innovation.eu

1. Commercializing Innovative
Technologies: The US Perspective &
Strategies for Europe
Carolina Garcia Rizo, PhD, MBA
May, 10th 2011

2. – Why Innovate
– Internal vs. External Innovation
– Start-ups and Spin-Offs as source of Innovation
– University as source of Innovation
– Science vs. Entrepreneurship
– Science commercialization Drivers
– Science Commercialization Value
– Science Commercialization Culture
– MIT Example
– Silicon Valley Example
– Drivers and Barriers
– Science Commercialization Process
– Diagnosis of Science Commercialization Culture and Infrastructure
– Science Commercialization in Europe
Commercializing Innovative Technologies:
The US Perspective & Strategies for Europe

3. Why Innovate?
• Innovative companies’ stocks tend to show better performance
• Clients and end-users have stronger purchase power
• Innovative companies have a better perception which impacts its brand value.
• They recruit the smartest employees
Innovation has an extended positive value impact in corporations, in society

4. Internal vs. External Innovation
Awareness
Strategy
Supporting
Management
structure
Activities
Innovation
Culture
When a company has no innovation culture, its development is a slower process than external
innovation acquisition

5. Start-ups and Spin-offs as source of
Innovation
Research and educational institutions, like MIT, are a source of innovation, a source of value
creation

6. The University as Source of Innovation
• The university is a source of talented human capital, a source of the future leaders that promote innovation inside the
companies where they work. They will be responsible for the company value growth through innovation.
• The educational/research institutions are a source of scientific research that once commercialized, can be source of
innovation for corporations through start-ups and spin-offs acquisition , source of job creation, source of wealth for society
• The university is a dynamic element of society, that fosters value creation through innovation
Science
PhDs
Business
MBAs
University
University
Scientific
research
Commerci
alization
Innova-
tion
Science commercialization enables the access of society to innovative scientific research

7. Science vs. Entrepreneurship
While in the Ph.D. program in computer science at Stanford
University, Larry Page met Sergey Brin, and together they
developed and ran Google, which began operating in 1998.
Larry went on leave from Stanford after earning his master’s
degree.
Scientific research drivers are very different from entrepreneurial ones

8. Science Commercialization Drivers
Financial
institutions
Formal and
Informal
Networks
Infrastructure
Culture
Entreprene
ur-chic
Successful
stories
Educational
/Research
Institutions
Local
possible
customers
Never underestimate the power of the culture. An appropriate infrastructure without entrepreneurial
culture will hardly foster science commercialization
Science
Commerciali
zation
Infra-
structu
re
Culture
Government and Foundations entrepreneurial initiatives

9. Science Commercialization Value
Only when the value of science commercialization is understood and assimilated, one can
then promote the culture and infrastructure to foster science commercialization.
Value
Culture
Infrastructure
Culture

10. Science Commercialization
strategy
Supporting leadership structure
Activities fostering Science
Commercialization
Awareness of Science
Commercialization as an
option
Science Commercialization Culture
Heavy
publicati
on focus
Failure
punishment
Bad
adapted
process
Silos
No
leadership
direction
Risk
adverse
Lack of
business
sense
Science
commercialization has to
be seen as a viable
option by everyone in
the educational/research
institutions. It has to be
fostered top down, and
has to be celebrated as
source for growth and
success.
Challenges vs. Opportunities
Science commercialization has to be promoted top down, resources have to be allocated and has to
be adapted by everyone as a viable option

11. MIT Example
0.9 km, 7 min
MIT Business School
MIT Engineering School
Boston
Cambridge
Harvard
1.1 km, 10 min
2.8 km, 30 min,
2 T stops
MIT is a source of knowledge, human talent and value that promotes entrepreneurship in the Boston
and Cambridge area, collaborating with other educational and research institutions, corporations...

12. MIT Example
MIT promotes entrepreneurship through classes, e-centers, conferences and e-competitions, serving
the science commercialization effort as well.

13. Silicon Valley Example
Stanford
University
Stanford University is the engine that promotes entrepreneurship in Silicon Valley, where multiple start-
ups and spin-offs were and are created by its students

14. DRIVERS
Drivers and Barriers
BARRIERS
• Failure acceptance
• Risk reward
• Success stories celebration
• Collaboration promotion
• Problem solving through interdisciplinary groups
• Entrepreneurial ecosystem promotion
• Government and foundations entrepreneurial
initiatives
• Financial support
• Corporations
• Dynamic market
• …..
• Fail punishment
• Risk adverse
• Envy
• Egocentric, me only
• Lack of interdisciplinary environment, silos
• Lack of business sense/scientific respect
• Anti-entrepreneurial ecosystem
• Lack of financial support
• Static market
• Lack of open dialog and collaboration with
corporations…
• ……
Cultural and infrastructure drivers should be promoted and barriers should be seen as opportunity to
promote awareness, an appropriated strategy and a supporting leadership structure that foster
science commercialization

15. Science Commercialization Process
Idea
Generation
Market
study
Prototype
Market
Introduction
The science commercialization process will require different checking points depending on
its grade of innovation (incremental vs. breakthrough innovation)
P1 P2 P3
P1A P1B P2A P2B P3A P3B P4A
P4
P4B

16. Diagnosis of Science Commercialization
Culture and Infrastructure
 Who are they?
 Educational/Research institutions, Government, Foundations….
 …….
 Science commercialization Questions (Understanding, Objectives, Offers, Needs )
 Objective: Science Commercialization Map development
 Analyze the ecosystem.
 Identify stakeholders
 …….
 Identify those areas where science commercialization should be promoted
 Workshops for each of the areas selected
Needs/Offers identification and plan to solve/promote those.
Participants: Universities/Research Institutions/ Government/ Financial Entities…
If we want to foster commercialization of science in a specific region or area, it would be useful to
perform a diagnosis of the culture and infrastructure, of the offers and needs.
Science
Commercialization
Stakeholder
Identification
Science
Commercialization
Stakeholders
Interviews
Science
Commercialization
Map
Science
Commercialization
Workshops

17. Science Commercialization in Europe
• An effort should be placed to promote risk taking, allow failure
and celebrate success, showing that commercialization of science
is a viable option
• Promote entrepreneurial culture through government and
foundation initiatives.
• Communicate the value of Science commercialization: It promotes
job creation and wealth in society. Once the value created by
commercialization of science is understood by all the
stakeholders, a more entrepreneurial culture will flourish and the
appropriate infrastructure will develop
Science commercialization lessons from USA can be leveraged for EU, but need to be adapted
to their own needs, structures and cultures.
Science Commercialization
strategy
Supporting leadership
structure
Activities fostering
Science
Commercialization
Awareness of Science
Commercialization as an
option
• Europe offers different cultures and structures that can be
translated into lots of opportunities
• Some countries foster commercialization of science more than
others. Some are very successful already and can be source of
help, success stories, learning experiences…..
• European culture when comparing to American one is in general
more:
• Risk adverse
• Anti- failure
• Negative

18. Thank you so much for your
attention
carolina_rizo@sloan.mit.edu