TGG Service: Commercializing Technologies
Start with a BLUEPRINT. End up with a ROADMAP.
Building a commercialization strategy for a product or technology asset needs to begin with a blueprint – one that describes: (a) what the asset does and what it could do if applied differently, (b) what problems the technology solves or could solve and for whom, and (c) the markets and industries where it does or might have applicability.
After this, one or more business models for taking the technology to market should be determined, go-to market strategies defined, and a great deal more. This then becomes the basis for developing a roadmap for commercialization.
One vitally important consideration of commercialization is exploring the financing options – whatever might be available to the company or companies that will actually take the technology to market. TGG explores financing options based on the strategies we build and based on each client’s vision for the future. To do this, we ask questions like: Should you commercialize by licensing your technology to others? Do you want to perform most of the business functions associated with commercializing within your own company? Are you willing to share control of the asset or your company with equity investors? Is your goal to develop a commercialization strategy using capital from another one of your product lines or businesses?
Your vision acts as a starting point. Your goals become the anchor for commercialization strategy development, which will also be affected or guided by personal philosophies about business. Your philosophies may not be expressed in so many words, so we work diligently to uncover them precisely because these will and must influence your strategy choices for commercialization. If you are commercializing an asset with the ability to affect multiple industries, we also assess which applications you believe should be developed first and why.
The resulting roadmap enables you to rank what work must be done and in what sequence in order to be able to position your company to meet windows of opportunity at the most opportune time.
To make sure this work can be done as efficiently as possible, we typically structure engagements in 3-phases that are tailored to the specific needs of each client:
I. Technology Evaluation, Research and Analysis
Market & Customer Needs Assessment
Customer & Competitor Value Proposition
Barriers to Commercialization
Revenue Strategy Options & Profitability Potential
Primary Deliverable: A Complete Business Case
II. Technology Commercialization Strategy and Business Planning
Value Proposition & Product-Market Fit
Pricing & Demand Elasticity
Market, Competitive & Customer Positioning
Product Functionality Requirements & Development
Business Strategy/Model Design
Distribution Strategy Options
Sales, Marketing, R&D, Operations & Manufacturing Strategies
Identification, Analysis & Evaluation of Strategic Partners
Licensing & Contract Negotiation
Financial Pro Formas / Payback Analysis
Critical Success Factors, Milestones & Objectives
Primary Deliverable: A Complete Business Plan for Implementation
III. Business Plan Implementation Support
Leading or Supporting Partner Development Activities
Negotiating Relationships and Contracts
Ensuring Revenue Strategy Success – based on actual revenues generated
Primary Deliverable: Actual Revenues