FITT (Fostering Interregional Exchange in ICT Technology Transfer)

1. FITT (Fostering Interregional Exchange in ICT Technology Transfer)

2. Every idea that comes in the technology transfer office needs to be assessed from a technological, a legal and a business point of view TTOs are usually well positioned to do the scientific evaluation Patent officers check whether the technology is truly unique and whether it doesn’t infringe with any existing patents The market assessment is crucial, but can be very complex: a technology might seem fantastic from a technical perspective with lots of interesting features and possibilities, but with no market value Therefore, TTOs need to investigate the market potential of new incoming project proposals, conduct thorough market research and give advice with respect to commercialization. Marketing is ‘an integrated process through which companies create value for customers and build strong customer relationships in order to capture value from customers in return’ (<Wikipedia). To make this work, keeping close links with the industry is crucial. Market Assessment

3. Rejection No Go 90% of ideas Technological Analysis Technology Transfer Team Idea Potential Market Analysis Commercial Services On Hold Go 10% of ideas Licensing Spin-Off Company Formation New Ventures Team Investment Decision Investment Team Marketing_IP Pipeline

4. Every idea goes to the Technology Transfer Team Tech Transfer Team judges technical value & decides: Patent or not? Licensing or Spin-out? 2.1. Licensing? 2.2. Spin-out? IP Pipeline

5. White versus Black: Clear go/no go decision. Grey Zone: Market related advice < Commercial Services. → ‘First Iteration’ 1. Patent or not? “The really fantastic ideas stand out as being really fantastic, the bloody stupid ones as being bloody stupid. 90% is stuck in the middle, in the grey zone.” “The strategy of what particular form of IP we use is entirely informed by commercially what we think we can get away with.”

6. Market Research: Find appropriate potential customers. Engage with those customers. ‘Catch 22’: Difficult to go and talk to someone to validate a new technology, because you disclose the information Identify whether it should be a licence or a spin out. → ‘Second Iteration’ 2. Licensing or Spin-out? Commercial Services do market research, as well as marketing. The guys in the first group discuss about the following: “Does this look like a licence or a spin out?”

7. Evaluation criteria How strong is the IP? Have similar technologies been patented? How many similar technologies are on the market? → Technology Transfer Team Competitive advantages? Fit with the emerging trends? → Commercial Services Second Iteration

8. Technology: If you apply a voltage to a liquid, the surface meniscus changes. Applications: Display technologies Lenses in mobile phones Market analysis: 1 competitor in display technologies 1 competitor in lenses for mobile phones Looks promising – only 2 competitors – BUTthey own +/- 50 patents… Advise: No head-to-head competition Licensing! Example: Electro Wetting Effect (EWF)

9. Output: 1-page summary of technology with non-confidential descriptions of the technology: Introduction to the technology, Technical advantages; Value proposition; Benefits for the end user; Possible applications; Stage of development. Top ten list of potential customers Find a personal contact into these companies 2.1. Licensing If it’s licence, Commercial Services will find potential ‘customers’ to negotiate with.

10. File goes to ‘New Ventures Team’ New Ventures Team + Technology Transfer Team write proposal Interaction with Commercial Services: Strategy of competitors Evolutions in competitive landscape → ‘Third Iteration’ 2.2. Spin-out If it looks like being a spin out, it moves to the new ventures team, and their role is to work this up into an investable proposition.

11. Commercial Services is an integrated part of the technology transfer process at Imperial Innovations Input = required on a continuous basis in every stage Clear feedback loop between Commercial Services and the ideator(s), via the Technology Transfer Team Feedback loop = ongoing backwards and forwards conversation No fixed timing issues Marketing_When?

12. Marketing_Who? Tech Transfer Team (7 people): Technology transfer team members are assigned on a departmental basis Commercial Services (3 people) New Ventures Team (5 people) The researchers are crucial stakeholders Finally, the industry benefits from Commercial Services as well

13. Commercial Services is located at the premises of Imperial Innovations Their work area is not limited to the South Kensington region As they keep close contacts with companies all over the UK, and even abroad, they operate worldwide Marketing_Where?

14. Pros Opens up opportunities for a true market-led approach: Keeping the link between the ‘artificial’ world of the labs and the real-life industrial environment Tackle ‘the not-invented-here’ syndrome Cons Problem when personalities of different technology transfer team officers don’t match, because close integration is crucial for the success of the initiative Marketing_Pros and Cons

15. The crucial success factor for the market integration = close integration between the technology transfer team and commercial services on the one hand and commercial services and industrial partners on the other hand All the parties involved – researchers, Imperial Innovations, the industry – seem to be pleased with this method Facts: Imperial Innovations has established equity holdings in more than 75 technology businesses and is managing over 130 commercial agreements Marketing_Outcome

16. It pays off to use a market led approach: If one takes a look at the output of Imperial Innovations, it is obvious that a close connection with the industry brings along a large inflow of ideas Lessons Learned

17. Suggested Readings • Link to bibliography • Link to code book Market assessment Market-led approach Market research • Link to related websites http://www.imperialinnovations.co.uk/