Cover image for Bringing new technology to market
Title:
Bringing new technology to market
Personal Author:
Publication Information:
Upper Saddle River, N.J. : Prentice Hall, 2003
ISBN:
9780130933737

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30000010022836 HF5415 A43 2003 Open Access Book Advance Management
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Summary

Summary

This book presents a comprehensive look at the issues related to the commercialization of intellectual property, and contains three major themes that infuse all of the concepts presented: value creation, speed, and entrepreneurship. It enables readers to understand different business models and processes from mainstream types of businesses, and teaches them how to successfully commercialize the intellectual property they develop. The book focuses on management, marketing, product development, and operations strategies that work in a high tech environment. A four-part organization covers: The Foundations of Technology Commercialization, Intellectual Property and Valuation, Financial Strategies for Technology Start-Ups, and The Transition from R&D to Operations. For potential entrepreneurs and corporate venturers.


Author Notes

Kathleen Allen is the author of several texts including Launching New Ventures, Third Edition, and Entrepreneurship and Small Business Management, Second Edition, as well as a variety of trade books in the field of entrepreneurship. A professor in the Greif Entrepreneurship Center of the Marshall School of Business at the University of Southern California (USC), Allen has helped hundreds of entrepreneurs realize their dreams of starting new ventures. At USC, she is director of the Technology Commercialization Alliance, a collaboration of the schools of business, engineering, and medicine to commercialize USC technologies. She also leads a National Science Foundation project with several university, public, and private partners.


Excerpts

Excerpts

Bringing New Technology to Marketis the first text designed to address the entire technology commercialization process, from idea to market. Today, as technology drives innovation and companies seek more effective ways to exploit the intellectual property they create, it is important for students in business, engineering, and the sciences to understand the processes that result in successful new technology products in the market. Consequently, the subject of technology commercialization is becoming an important part of the graduate and undergraduate curricula in schools of business, engineering, and science.Bringing New Technology to Marketpresents a comprehensive look at the issues related to the transfer and commercialization of new technology. High-tech businesses with patentable technology, whether engineering technology, biotechnology, or information systems technology, display different business models, processes, and characteristics from mainstream types of businesses. Therefore, CEOs, CTOs, managers, entrepreneurs, faculty, and students need to understand this phenomenon and learn how to successfully commercialize the intellectual property they develop. Technology is different from any other type of new product. For one thing, the market responds differently to technology; customers are slow to accept a new technology with which they are not familiar. The entrepreneur who introduces a new technology must, therefore, devise a strategy that captures early adopters in a variety of niches in order to develop sufficient momentum to push the technology into the mainstream market. The development of new technology is generally a longer and more expensive process than that for other products. Securing intellectual property to protect technological products, processes, and know-how is also a critical component of the commercialization process. New technologies are commercialized in a variety of ways, but the underlying commonality is an entrepreneurial approach that seeks to create new value. Whether technology is developed inside the laboratories of a large company or in an entrepreneur's garage, the need for a fast-cycle process with checkpoints and criteria that must be met is essential to success. This book was written to address all of these issues. Although it was prepared for a graduate-level course, it can be used equally well in undergraduate courses. It was designed with 15 chapters to permit teaching the material comfortably in one semester. The text is compatible with an overview course presenting the broad picture of the technology commercialization process. Because it contains application tools, it is also appropriate for a course where students are moving through the commercialization process with real inventions they have developed or technology they have acquired for the purposes of commercialization. Bringing New Technology to Marketembodies three major themes. The first is new value creation. For companies to be successful in sustainable technology innovation, it is critical that they punctuate their incremental or value-added innovations with radical or value-creating innovations. Creating new value is the most important way that a company can distinguish itself from its competitors. Therefore, the commercialization process as discussed in this book makes it possible for a company to successfully combine the development and exploitation of both incremental and radical innovations. The second theme is speed. As windows of opportunity for new technologies are shrinking, product development timelines are by necessity shortening, creating a real dilemma for product developers-how to produce superior high-technology products faster, yet at prices the market will tolerate. This book presents methods, based on empirical research, that result in faster time to market without sacrificing quality or value creation. The third theme is entrepreneurship. The tools that e Excerpted from Bringing New Technology to Market by Kathleen R. Allen All rights reserved by the original copyright owners. Excerpts are provided for display purposes only and may not be reproduced, reprinted or distributed without the written permission of the publisher.

Table of Contents

I The Foundations of Technology Commercialization
1 Innovation and Commercialization
2 Recognizing and Screening Technology Opportunities
3 Developing and Testing a Technology Business Concept
4 High-Technology Product Development Strategies
II Intellectual Property
5 The Concept of Intellectual Property
6 Licensing Intellectual Property
7 Intellectual Property Strategy
III Financial Strategy for Technology Start-Ups
8 Building and Valuing the Business Model
9 Funding the Technology Start-Up
10 Funding Growth
IV The Transition From R&D to Operations
11 Moving from R&D to Operations
12 Marketing High Technology
13 Growing the High-Tech Venture
14 Entrepreneurial Venturing Inside a Corporation
15 Developing a Business Plan for Sustained Innovation