The Art & Science of Product-Market Fit: Introducing the National Network for Manufacturing Innovation Institutes (NNMIs) | Has Patel | Lunch & Learn

I N F O L O G I C
The logical approach to harness innovation
Has Patel
President
Infologic, Inc.
has.patel@infologic.com
(888) 325 0500 Ext. 100
INFOLOGIC, INC.
25 Palatine # 212
Irvine, CA 92612
www.infologic.com
National Manufacturing Day
October 7, 2016
# MfgDay16
The Art & Science of
Product-Market Fit
Introducing the National Network for
Manufacturing Innovation Institutes (NNMIs)

1
Copyright © 2009 INFOLOGIC Inc. All rights reserved.
Agenda :
White House Call To Action
Part 1:
Product-Market Fit
Part 2:
The National Network for
Manufacturing Innovation
Institutes (NNMIs)
“ … Manufacturing Day is an annual celebration of the strength of American
manufacturing and an opportunity to educate and motivate the next generation
of manufacturers…. This year, we can do even more—that is why, today, the
Administration is launching an effort to inspire the next generation of
manufacturers and support entrepreneurs manufacturing their first
product in the United States…”
Part 1

2
What is Product/Market Fit ?
• Product/market fit is the degree to which a product
satisfies a strong market demand.
Wikipedia
• Product/market fit means being in a good market with
a product that can satisfy that market.
• The life of any startup can be divided into two parts –
before product/market fit and after product/market fit
Marc
Andreessen
• The concept of product/market fit as a step in between
customer validation (step #2 in his book The Four
Steps to the Epiphany) and customer creation (step
#3)
Steve Blank

3
UCICove Startup Assessments
Product-Market Fit Categories
Planning
• Product-
Market Fit
• Ability to
Scale
Team
Dynamics
Execution
Total Addressable Market (TAM)
Market Validation
Customer Problem
Solution/Value Proposition (VP)
Lasting Unfair Advantage
Financials/Revenue Model
Exit Analysis

4
FACT CHECK : Product Development Model
(Source : NASA/DoD/GAO)

5
FACT CHECK : Market Development Model
(Source : Steve Blank)
Source : The Four Steps to the Epiphany by Steve Blank

6
FACT CHECK : Product/Market Fit Methodology
(Source : DoD/GAO)
Definitions
KP 1 : Technologies and resources match market needs
KP 2 : Technologies/Design performs as expected
KP 3 : Production can meet cost, schedule, and quality targets

7
Suggested Product/Market Fit Model
Product Development
Market Development

8
Customer Solution/Value Proposition Model
(Source : Infologic, Inc.)
Product-as-
a Product
Product-as-
a Service
Product-as-
a Process
Focus on products
as digital items,
such as Sensor-
based products
and offer under
CAPEX
Combine Product
with a Service,
and offer under
OPEX using Cloud,
Mobile features
Combine Product,
Service,
augmented
reality, Social and
Analytics
Integrate your
offerings with
third party
offerings – OEMs,
partners and
competitors
Product-as-
a Business
Model
Product Cost
© 2016 Infologic, Inc. All rights reserved.

9
FACT CHECK : Product-as-a-Service Model
 The Internet of Things Is Here, and It Isn’t a
Thing (Wall Street Journal – 8/21/2016)
“…Everyone is waiting for the Internet of Things. The
funny thing is, it is already here. Contrary to
expectation, though, it isn’t just a bunch of devices that
have a chip and an internet connection. The killer app
of the Internet of Things isn’t a thing at all—it is
services. And they are being delivered by an unlikely
cast of characters: Uber Technologies Inc., Solar City,
ADT Corp., and Comcast, to name a few…”
 The Digital Manufacturer – Resolving the
Service Dilemma (Cisco Executive Survey - 11/2015)
“…In a climate of digital disruption and global market
pressures, many manufacturers want to differentiate
with new service-oriented revenue models, especially
those that rely on connected machines and machine as-
a-service. In a Cisco survey of more than 600 senior
executives in 13 countries—from both industrial machine
builders and end-user manufacturers—86 percent said
the transition from product-centric to service-
oriented revenue models is a core part of their
growth strategies…“

10
"Innovation: The Classic
Traps” professor Rosabeth
Moss Kanter of the Harvard
Business School quotes …
“ the most common
mistake companies make
is to apply traditional
corporate processes to
new projects. “
FACT CHECK : Product-as-a-Process Model

11
The world’s largest taxi
company – owns no vehicles
The world’s most popular media
company – creates no content
The world’s largest hospitability
company – owns no real estate
How Smart, Connected Products
Are Transforming Companies
HBR Research Review
by Professor Michael E. Porter and James
E. Happelmann – 10/2015
FACT CHECK : Product-as-a-Business Model

12
A Profitable Venture Equation
A Profitable Venture with
Lasting Unfair Advantage
(may be an Unicorn !)
Profitable Venture = f (Balanced Product/Market Fit +
Innovative Value Proposition)

13
Innovation Ecosystem :
Power to Collaborate & Innovate
Part 2
Customers
Established
Future
Academia
Research
Universities
Colleges
Business
Partners
OEMs
Venture
Competitors
Education &
Training
Technologies
R&D/IP
Test Beds
Government
Federal
State
Local

14
Global Innovation Snapshot : 2016 R&D Forecast
(Source : Industrial Research institute and R&D Magazine)

15
Why Manufacturing & Innovation ?
( Source : NIST )

16
Federal Government Act : H.R.2996 (RAMI)
Revitalize American Manufacturing and Innovation Act of 2014
(Source : NIST/DoD)

17
National Network for
www.manufacturing.gov

18
NNMIs Positioning :
Valley of Death & Innovation Ecosystem
R&D
Portfolio
Technology
Needs:
Manufacturing
Enterprises
Wasted R&D Efforts
Unmet End user technology needs
Deterioration of US Innovation Leadership
NNMIs

19
NNMI : Overview
 Elevator Speech
• Publish-Private Partnership
• Applied Research + Education/Training
 Goal
• Create 45 NNMis during the next decade ; As of Today - 9
• Lead by Universities/Non-Profits
 Public-Private Partnership
• Federal agencies invest $70 - $ 120 Million over 5 Years / per NNMI
• Industry – Minimum Cost Share (1:1); Industry investing significantly more
• Interested Agencies – DoD, DoE, NIST (more to come …..)
• Time Frame - 5 Years Federal Commitment; Independent after 5 years
 Technology Focus :
• Advanced Manufacturing : Advanced Sensing, Controls, and Platforms for
Manufacturing (ASCPM); Visualization, Informatics and Digital Manufacturing
(VIDM); and Advanced Materials Manufacturing (AMM).
• Emerging Technology Areas : Advanced materials manufacturing, engineering
biology to advance bio manufacturing, bio manufacturing for regenerative
medicine, advanced bio products manufacturing, and continuous
manufacturing of pharmaceuticals.

20
NNMI : Major Activities
(Source : DoD)

21
NNMI Ecosystem Overview
(Source : NIST)
One of the goals of NNMIs is “ … to help start-ups and small
manufacturers to scale up new technologies, accelerate technology transfer
to the marketplace, and facilitate the adoption of innovation workforce skills.
The network is designed to foster innovation and deliver new capabilities that
can stimulate the manufacturing sector on a large scale….” – NIST

22
NNMI : Current Locations & Technology Focus
(Source : NIST/DoD)

23
How to Leverage NNMIs – National Assets
Conceive
Set Strategies
Develop
Implement
Analyze
Suggested Steps
• Analyze RoI
• Be Proactive !
• Participate in Project Call teams, Training
and Test Beds
• Network with Current/Future Partners
• Become Member or Observer and
Participate in Selected NNMIs Project Calls
• Develop Strategies & Include in your
Business Plan
• Product-Market Development plans
• Visit www.manufacturing.gov
• Do current/future NNMIs fit in your
venture?

24
Conclusions & Takeaway
Product/Market Fit is
essential for Venture
Success
Adapt an innovative
approach in developing
Customer Value
Proposition (VP)
Leverage Innovation
Ecosystems (e.g. NNMIs)

25
Call to Action
STARTUPS, ENTREPRENEURS &
INTRAPRENEURS
Adapt one of the goals to add
“Third Dimension” to the American
Innovation Ecosystem
AMERICAN INNOVAITON
ECOSYSTEM STAKEHOLDERS
Develop tools, products and
services for the above Group to
achieve their goal

I N F O L O G I C
The logical approach to harness innovation
Questions ?
Has Patel
Infologic, Inc.
has.patel@infologic.com
(888) 325 0500 Ext. 100
INFOLOGIC, INC.
25 Palatine # 212
Irvine, CA 92612
www.infologic.com
The Art & Science of
Product-Market Fit
Introducing the National Network for

The Art & Science of Product-Market Fit: Introducing the National Network for Manufacturing Innovation Institutes (NNMIs) | Has Patel | Lunch & Learn

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The Art & Science of Product-Market Fit: Introducing the National Network for Manufacturing Innovation Institutes (NNMIs) | Has Patel | Lunch & Learn