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Technology Commercialization Strategy
For R&D Institutions
Prepared by:
Dr. Chulho Park
Vice President
Strategic Busines...
2
Business Models for Technology
Commercialization
3
Classical Role of University TTO
Fundamental
Science
Basic
Research
Applied
Research
Product
Development
Production
Univ...
4
Role of CRO and GRO ─ Value Creation Centers
Must bridge the entire R&D spectrum
 Translation science &
engineering res...
5
Key Success Factors for Value Creation Centers
Fundamental
Science
Basic
Research
Applied
Research
Product
Development
P...
6
New Strategic Vision and
Alignment with Corporate Strategy and Businesses
Business Model for Accomplishing the Value Cre...
7
Licensing Model
Worth Active
Marketing?
Royalty
Licensing
Opportunity
No
Yes
Marketing
Plan &
Strategy
Passive
Licensing...
8
Spin-off Technology Venture Incubation Model
Creating spin-offs requires strong, small development teams.
Need Internal
...
9
 Technology is not matured yet for commercialization
 Need to protect potential new business from IP disputes
─ File p...
10
Quick Check of Readiness for Spin-off Venture
Demand
Technology Competition
Who are the customers?
Why do they buy (nee...
11
Funds Required to Execute Spin-off Strategy
Need Internal
Incubation?
Spin-off
Venture
Opportunity
Yes
No Spin-off
New
...
12
Systematic Approach of Budgets and Funds to Realize
Value Potential
Patents & Know-How
Business Thrusts
Royalties,
Vent...
13
 Concentrate resources (capital, R&D,
commercialization) on a few selected areas
 Identify innovation connected to ma...
14
Case Example:
SRI’s Five Discipline for Technology Innovation
 Important Needs
 Value Creation
 Innovation Champions...
15
Some Examples of SRI’s Spin-off Ventures
Customer Service
Tools* DTV TechnologiesVideo Enhancement
Systems
LCD technolo...
16
Case Example:
IMEC Research Programs for the Industry Eco System
Source: IMEC
17
Biz Models and Spin-off Ventures of IMEC
IMEC’s Business Model
Source: IMEC
18
Organization for Technology
Commercialization
19
SBI’s Integrated Framework for Technology
Management and Commercialization (R&BD)
Knowledge of External Drivers and Dyn...
20
Basic Functions of Technology Management and
Commercialization
Technology (R&D)
Strategy & Planning
R&D Project
Managem...
21
Technology Commercialization Activities
IP Portfolio Planning
& Management
Patent Process
Management
Technology
Commerc...
22
Commercialization Process and Responsibility
Technology/IP
for Commercialization
IP
Management
Technology
Transfer (Lic...
23
Alternative Organizational Structures
IP
Management
Technology
Transfer (Licensing)
Commercial Development Center
Comme...
24
 Centralize oversight of commercialization processes and add
Venture Start-up for its own technology commercialization...
25
Venture Start-up Team should be led by the office head and at least 2
to 4 staff members (in early/beginning stage):
 ...
26
Organization for Commercialization Supervision
 Commercialization Supervisory
Board (CSB):
– Form the Board with 3 to ...
27
Case Examples: Venture Board Composition
 SRI: Commercialization Supervisory Board (CSB)
– CEO, CFO, VP of Business De...
28
Profit Sharing Model
29
Basic Requirements for Profit Sharing Model
 Encourage researchers to conduct innovative, disruptive, high-
impact res...
30
 The profit sharing policy must have clearly defined rules
 The profit sharing process must be perceived as fair
 Th...
31
Recommended Distribution and Approval Process for
Profit Sharing
VP of R&D Div appoints knowledgeable Lead (PI) to
reco...
32
Summary of Recommendations
33
Institutional
Financial
Support
Regional
Economic
Growth
World
Impact
Individual
Rewards
Objectives of Technology Comme...
34
Companies Represent a Range of the
Commercialization Continuum
Passive Licensing
Fee for Services
Active Licensing
Star...
35
Technology Commercialization Management Diagnostic
Identifies the Needs and Leverage Points for Improvement
Value Creat...
36
Recommended Strategic Principles in Technology
Commercialization
Recommendations
 Build consensus internally and
exter...
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Technology Commercialization Strategy

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Technology commercialization strategy for a multidisciplinary R&D institutions such as GRO and CRO under new research and business development (R&BD) paradigm

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  • THanks for this - we are in healthcare, but are also developing a commercial strategy, aligned with value-creation for healthcare partners for our own software products - and want to leverage ITIL and COBIT frameworks into our product lifecycle management. Good sutff here.
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  • @Chulho Park thanks a lot
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  • hi. thanks for your presentation file. can describe CRO GRO?
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Technology Commercialization Strategy

  1. 1. 1 Technology Commercialization Strategy For R&D Institutions Prepared by: Dr. Chulho Park Vice President Strategic Business Insights cpark@sbi-i.com October 2015
  2. 2. 2 Business Models for Technology Commercialization
  3. 3. 3 Classical Role of University TTO Fundamental Science Basic Research Applied Research Product Development Production University R&D Tech transfer office New companies and licenses  Don’t know compelling market or customer needs  Lack of interest and resource for application development  Mostly individual, small group or distributed research  Don’t know/understand state- of-art emerging technologies  Technology is not matured for commercialization yet  Single IP is not good enough for business development Gap  Standard process  Administrative  Little recognition  Risk averse Source: SRI International
  4. 4. 4 Role of CRO and GRO ─ Value Creation Centers Must bridge the entire R&D spectrum  Translation science & engineering research  Business opportunity idea generation  Technology maturation fund  IP management and bundling  Start-up acceleration fund and service  Business incubation fund and service Fundamental Science Basic Research Applied Research Product Development Production University R&D Value creation center New companies and licenses CRO, GRO R&D Source: SRI, SBI
  5. 5. 5 Key Success Factors for Value Creation Centers Fundamental Science Basic Research Applied Research Product Development Production University R&D Value creation center New companies and licenses Aligning technologies with customer needs through product/service  Create innovative culture  Recruit diversified talent  Provide education and practical training  Develop innovation principles & process  Incentivize start-up and biz incubation  Develop mentor (champion) program Source: SRI, SBI
  6. 6. 6 New Strategic Vision and Alignment with Corporate Strategy and Businesses Business Model for Accomplishing the Value Creation Objectives R&D Activities and IP Management R&D Planning UnlockingUnlocking Existing Intellectual Property22 InventingInventing with a Purpose11 AcquiringAcquiring External Know-How33 CollaboratingCollaborating with Outside Partners44 UnlockingUnlocking Existing Intellectual Property22 InventingInventing with a Purpose11 AcquiringAcquiring External Know-How33 CollaboratingCollaborating with Outside Partners44 Commercialization Activities Commercialization Planning Royalty Equity Revenue IPs IP & $ LicensingLicensing Existing Intellectual Property33 Creating a SpinCreating a Spin--offoff with a Strategy22 Contract ResearchContract Research for Commercializationfor Commercialization44 ConsultingConsulting with Internal Know-How55 Technology/IP TransferTechnology/IP Transfer to SBU or its R&D11 LicensingLicensing Existing Intellectual Property33 LicensingLicensing Existing Intellectual Property33 Creating a SpinCreating a Spin--offoff with a Strategy22Creating a SpinCreating a Spin--offoff with a Strategy22 Contract ResearchContract Research for Commercializationfor Commercialization44 Contract ResearchContract Research for Commercializationfor Commercialization44 ConsultingConsulting with Internal Know-How55 ConsultingConsulting with Internal Know-How55 Technology/IP TransferTechnology/IP Transfer to SBU or its R&D11Technology/IP TransferTechnology/IP Transfer to SBU or its R&D11 Revenue
  7. 7. 7 Licensing Model Worth Active Marketing? Royalty Licensing Opportunity No Yes Marketing Plan & Strategy Passive Licensing From Spin-off Technology Venture Model Active Licensing
  8. 8. 8 Spin-off Technology Venture Incubation Model Creating spin-offs requires strong, small development teams. Need Internal Incubation? Spin-off Venture Opportunity Yes No Spin-off New Company Internal Virtual Spin-off Exit Strategy? Sell Spin-off Company Initial Public Offering M&A Ready to Spin-off? Yes Not Ready Fail Demolish team and send staff back to R&D Create a New R&D Lab Active Licensing No Other Options Develop Eng. & Consulting Services
  9. 9. 9  Technology is not matured yet for commercialization  Need to protect potential new business from IP disputes ─ File patents to protect your right to use for commercialization ─ Find ways to avoid potential patent infringement dispute  Unclear target market or application/product  Need to demonstrate commercial feasibility or viability  Have to provide continuous (on-site) support from its lab such as materials, equipment, and technical support  Difficult to find potential investors for a spin-off venture Needs for Internal Incubation Maximize value and reduce risk for technology commercialization
  10. 10. 10 Quick Check of Readiness for Spin-off Venture Demand Technology Competition Who are the customers? Why do they buy (needs)? Market size and growth rate? How much are they willing to pay? Will the technology be ready? Is the technology competitive? What is the technical risk? What is the cost? What are differentiation factors? What are competitive advantages? Are they sustainable in long-term? Commercial Success Readiness = RDemand x RTechnology x RCompetition x RStrategic-Fit Must pass the four tests:  Will there be markets?  Can we make it?  Will we be competitive?  Does it fit to our strategy? Strategic Fit Sustainable Leadership Does this fit with our strategy? Are we capable of executing this? What is the long-term profitability?
  11. 11. 11 Funds Required to Execute Spin-off Strategy Need Internal Incubation? Spin-off Venture Opportunity Yes No Spin-off New Company Internal Virtual Spin-off Exit Strategy? Sell Spin-off Company Initial Public Offering M&A Ready to Spin-off? Yes Not Ready Fail Demolish team and send staff back to R&D Create a New R&D Lab Active Licensing No Other Options Develop Eng. & Consulting Services Venture & Licensing Fund CV Fund if available, and VC Funds VC Funds VC Funds R&D Fund Creating spin-offs requires strong development teams.
  12. 12. 12 Systematic Approach of Budgets and Funds to Realize Value Potential Patents & Know-How Business Thrusts Royalties, Ventures, or Large Contracts R&D Projects Major Program Potential InvestmentsandValue Illustrative Only Angel Fund Venture & Licensing Budget Strategic Investment Fund Idea Generation Budget Idea Generation Budget Venture Capital Fund Internal Fund External Fund Source: SRI, SBI
  13. 13. 13  Concentrate resources (capital, R&D, commercialization) on a few selected areas  Identify innovation connected to market needs  Criteria should include — commercializable, capable, and competitive  Develop technical and business “Champions”  Pursue an aggressive IP strategy • Strategic patents • Patent ownership Success Factors Related to Business Model
  14. 14. 14 Case Example: SRI’s Five Discipline for Technology Innovation  Important Needs  Value Creation  Innovation Champions  Innovation Teams  Organizational Alignment Important Client Needs Champions Value Improvement Organizational Alignment SuccessInnovation Teams Source: SRI
  15. 15. 15 Some Examples of SRI’s Spin-off Ventures Customer Service Tools* DTV TechnologiesVideo Enhancement Systems LCD technology*Iris Biometric Identification* Panoramic Image Editing Software* DTV Equipment* VOD Services** Secure Content Distribution Wireless mesh networks Virtual Personal Assistant* iPad App, Smart Travel Guide* Speech Recognition for Customer Service Publicly Traded Web App; Real-time Video Streaming & Sharing Content Curation Platform Mobile Productivity App MPEG-4 Compliant Encoding & Authoring Tool Gaming Platform For Children Enterprise Social Media* Electronic Signature Solutions Live Video Insertion System* Mobile Virtual Personal Assistant Technology for K-12 Education *Acquired or merged ** Dissolved Personal Contents Summary* Information Technology Robotics: Electroadhesion Robotics Surgical Robotics Publicly Traded Next-Gen Robot Arms* Anti-counterfeiting Systems Ceramics for Electronics * Portable Power Systems** Optical Network Components Electroactive Polymers* Next-generation Fuel Cells** Publicly Traded Flexible Circuit Materials & Components HQ Phosphor Solutions For LED Lighting* Advanced Materials Nano-porous Material Based Natural Gas Storage Systems Liquid Membrane Separation For Chiral Molecules** Digital Color Printing Applications** Biotechnology/Medical Surgical Robotics Publicly Traded Genetic Profiling Drug Dispensing System* Medical Systems Drug Discovery Disposable Hearing Aid* Drug Development Simplified Diabetes Management Bed Bug Detection Products Business Consulting Business Intelligence & Consulting Services Publications & Consulting Services* IT Consulting Services* Source: SRI
  16. 16. 16 Case Example: IMEC Research Programs for the Industry Eco System Source: IMEC
  17. 17. 17 Biz Models and Spin-off Ventures of IMEC IMEC’s Business Model Source: IMEC
  18. 18. 18 Organization for Technology Commercialization
  19. 19. 19 SBI’s Integrated Framework for Technology Management and Commercialization (R&BD) Knowledge of External Drivers and Dynamics Infrastructure: Organization, Resources, Processes Technology Planning R&D Project Management Business Vision and Strategy • Benchmarking • Scenarios • Market Research • Competitive Analysis Technology Portfolio Planning Project Portfolio Selection Budgeting and Resource Allocation Project Initiation Project Execution Project Management • Management Diagnostic • Structure and Teaming • HR Management • IT & Knowledge Management • Cycle-Time Management • External Network Management Ideation Technology Acquisition Strategy Project Closeout • SWOT Analysis • Technology Intelligence Knowledge of External Drivers and Dynamics Infrastructure: Organization, Resources, Processes • Benchmarking • Scenarios • Market Research • Competitive Analysis • Management Diagnostic • Structure and Teaming • Profit Sharing Model • Business Plan and Model • Venture Financing • External Expert Management • SWOT Analysis • Technology Intelligence Intellectual Property Management Value Creation and Management Technology Valuation IP Portfolio Planning Budgeting & Resource Allocation Technology Licensing Venture Creation Sell, M&A, JV, Alliance Ideation Technology Commercialzn Strategy Internal Use Return on Investment Technology and Intellectual Property Creating IP Assets Turning IP Assets into Value Technology Management Commercialization ManagementIP Management
  20. 20. 20 Basic Functions of Technology Management and Commercialization Technology (R&D) Strategy & Planning R&D Project Management Intellectual Property Management Commercialization Strategy & Planning Commercialization Management Technology (R&D) Management (Creating IP Assets) Technology Commercialization (Turning IP Assets into Value)
  21. 21. 21 Technology Commercialization Activities IP Portfolio Planning & Management Patent Process Management Technology Commercialization Strategy Licensing Venture Start-up & Incubation Patent Research, Market Research, & Opportunity Search  There are many strategic considerations on organizing IP planning and management as well as technology commercialization including licensing and venturing  Organizations should be evolutionarily restructured in accordance with changes in strategy, goals, and external environments  In general, there are many organizational alternatives to be considered including outsourcing and collaboration.
  22. 22. 22 Commercialization Process and Responsibility Technology/IP for Commercialization IP Management Technology Transfer (Licensing) Venture Start-up Incubation Support Commercialization Committee Licensing Committee Active Licensing Passive Licensing Licensing Venturing Venture Start-ups Commercialization Strategy
  23. 23. 23 Alternative Organizational Structures IP Management Technology Transfer (Licensing) Commercial Development Center Commercialization Strategy Venture Start-up Incubation Support Option-3 IP Management Technology Transfer (Licensing) Commercial Development Center Commercialization Strategy Venture Start-up Incubation Support IP Management Technology Transfer (Licensing) Commercial Development Center Commercialization Strategy Venture Start-up Incubation Support Option-3 IP Management IP Management Commercial Development Commercialization Strategy Technology Licensing Venture Start-up Incubation Support Option-2 IP Management IP Management Commercial Development Commercialization Strategy Technology Licensing Venture Start-up Incubation Support IP Management IP Management Commercial Development Commercialization Strategy Technology Licensing Venture Start-up Incubation Support IP Management IP Management Commercial Development Commercialization Strategy Technology Licensing Venture Start-up Incubation Support Option-2 Option-1 Commercial Management IP Management Commercialization Strategy Commercial Development Technology Licensing Technology Licensing Venture Start-up Incubation Support Commercial Management IP Management Commercialization Strategy Commercial Development Technology Licensing Technology Licensing Venture Start-up Incubation Support Option-1   
  24. 24. 24  Centralize oversight of commercialization processes and add Venture Start-up for its own technology commercialization – Leverage resource and database in IP management, IT support, and knowledge management for commercialization activities  Assign new business development responsibility to each R&D unit to spearhead commercial efforts – Will scan and identify innovative and marketable technologies within each R&D unit – Will involve each R&D unit commercialization strategy decision making  Create a Commercialization Supervisory Board of senior executives as a forum for decision making and oversight – Will act as senior advisors and decision makers; Will assume Board seats on start-ups or joint ventures  Review (and modify, as needed) patent/IP policy, profit sharing model, R&D project management systems to expedite technology commercialization activities Recommended Approach at Establishing Stage
  25. 25. 25 Venture Start-up Team should be led by the office head and at least 2 to 4 staff members (in early/beginning stage):  Manage small portfolio of opportunities into start-ups – Commercial business development plan and strategy – Coordination of R&D, venture planning, market research, and commercial development – Valuation of emerging technologies and business potential  For each selected opportunity: – Development of business plan – Launching new venture – Venture incubation: hiring new staff, venture financing – Management of venture business – Establishment of networks of technical, legal, accounting, consulting, and venture finance experts Formation of Venture Start-up Team
  26. 26. 26 Organization for Commercialization Supervision  Commercialization Supervisory Board (CSB): – Form the Board with 3 to 5 senior officers – Approve portfolio strategy – Preview and approve all venture activities and major licensing deals – Allocate seed funds – Hire CEOs for new ventures – Resolve conflicts among stakeholders R&D Org. Commercial Development Center Commercialization Supervisory Board R&D Divisions R&D Planning & Management Spin-off Ventures Holding Company (Subsidiary)
  27. 27. 27 Case Examples: Venture Board Composition  SRI: Commercialization Supervisory Board (CSB) – CEO, CFO, VP of Business Development, One of its R&D Division Head (VP), President of SRI Holdings  P&G: P&G Innovation Leadership Team (ILT) – CEO, CTO, and One of its global business unit presidents  Lucent: Venture board of the New Venture Group (NVG) – President of the NVG division, and 3 VPs, act as the partnership for the internal venture capital firm  Nortel Networks: Business Venture Group (BVG) – BVG members, some executives of its SBUs, and outside experts  3M: No corporate-wide venture board – The Corporate Enterprises Development (CED) organization had the leadership
  28. 28. 28 Profit Sharing Model
  29. 29. 29 Basic Requirements for Profit Sharing Model  Encourage researchers to conduct innovative, disruptive, high- impact research  Create new culture of technology commercialization and commercial business development through innovation  Sustain the top management’s commitment to successful technology commercialization  Encourage the technology commercialization team to build a profitable, financially sustainable, and self-motivated organization  Provide significant rewards to inventors  Retain rewarded inventors and keep them focused on innovative R&D  Comply with government regulations  Minimize potential conflicts among stakeholders
  30. 30. 30  The profit sharing policy must have clearly defined rules  The profit sharing process must be perceived as fair  The policy must be subject to government  The company should recover out-of-pocket expenses incurred in producing the royalty/equity income before sharing profits  For each allocation, the company must conduct a detailed review of all facts and provide supporting documentation such as written R&D proposals and Lab notes  The company must implement a process for an independent review of distributions by a compensation committee of the board: – Approve compensation and supervise execution – Decide compensation of top management (e.g., CEO, CTO, CFO, and VPs) – Resolve conflicts among stakeholders regarding compensation. Implementation of a Profit Sharing Model
  31. 31. 31 Recommended Distribution and Approval Process for Profit Sharing VP of R&D Div appoints knowledgeable Lead (PI) to recommend allocations Lead develops list of participants, their contributions, and relative % contribution (except the Lead’s %) VP recommends distribution %s, Lead’s %, expenses, and reserve, if any HR distributes the list and top management team reviews recommendations for completeness CEO reviews with top management team the final distributions, expenses, and reserve, if any Compensation Committee reviews and approves distributions, expenses, and reserve, if any
  32. 32. 32 Summary of Recommendations
  33. 33. 33 Institutional Financial Support Regional Economic Growth World Impact Individual Rewards Objectives of Technology Commercialization World-Class Think-tank & Innovator  Retain top scientists and engineers  Attract new talented technical staff  Diversify income sources  Increase incomes  Prepare rainy days  Develop self-sustainable institution  Contribute to develop local economy  Create a local venture valley  Improve national competitiveness  Invent innovative, high-impact technologies  Demonstrate big success in commercialization  Establish centers of excellence  Develop world-class reputation  Nurture culture of commercialization  Increase income sources  Achieve financial independence  Attract more R&D funds  Become a world-class R&D institute Source: SRI, SBI
  34. 34. 34 Companies Represent a Range of the Commercialization Continuum Passive Licensing Fee for Services Active Licensing Start-up Promotion Venture Incubation Source: SRI
  35. 35. 35 Technology Commercialization Management Diagnostic Identifies the Needs and Leverage Points for Improvement Value Creation • Licensing • Start-ups • Incubating • IPOs Value Creation • Licensing • Start-ups • Incubating • IPOs
  36. 36. 36 Recommended Strategic Principles in Technology Commercialization Recommendations  Build consensus internally and externally for proactive, strategic technology commercialization  Go slow initially  Build skills, processes first  Spin-off technology ventures are preferred over licensing to maximize value creation  Create some early success stories  New performance measurement and profit sharing models are needed Typical Situation  Require cultural change  Need new skills and experience  Align with R&D planning needed  Have limited capital availability  Comply with the government and company regulation and supervision  Require legal/policy changes to support various technology commercialization activities and profit sharing

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