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Bringing Technology to Market

Bringing Technology to Market. Presented by Dr. Jeffrey Alves September 2009. Agenda. Technology in action Historical perspective Sources of innovation & opportunity Process of bringing technology to market Examples The next sea change?. = Value. Technology

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Bringing Technology to Market

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  1. Bringing Technology to Market Presented by Dr. Jeffrey Alves September 2009

  2. Agenda • Technology in action • Historical perspective • Sources of innovation & opportunity • Process of bringing technology to market • Examples • The next sea change?

  3. = Value Technology things and processes + Market customers/users

  4. Historic Perspective – Time for Technology to Spread to 25% of Population Household electricity (1873) 46 yrs Telephone (1875) 35 yrs Automobile (1885) 55 yrs Air Travel (1903) 54 yrs Radio (1903) 22 yrs PC (1975) 15 yrs Cellular phone (1984) 13 yrs Internet 7 yrs Ipod 5 yrs

  5. Industries < 30 Years Old Personal Computers Biotechnology Wireless cable TV Fast oil changes PC software Desktop information Wireless communications/ handheld devices/ PDAs Healthful living products Electronic paging CAD/CAM Voice mail technology Cellular phone services CD-ROM Internet publishing & shopping

  6. Industries < 30 Years Old – MORE! • Desktop computing • Virtual imaging • Convenience food superstores • Pet care services • Voice over internet applications • Green buildings • Large, scalable, wind & solar power systems • Biofuels & bio materials • Cloud computing

  7. Where Are Opportunities Born? Technology sea change Market sea change Societal sea change Brontosaurus factor Irrational exuberance

  8. Types of Innovation • Invention • Extension • Duplication • Synthesis

  9. Commercialization of Technology 99.9% fail - 1 out of 5000 inventions have successful product launches.  99.8% fail.  Only 3,000 patents out of 1.5 million patents are commercially viable.

  10. Bring Technology to Market: A Process

  11. Discovering • Basic R&D • Application development • Process/manufacturing research • Market feedback

  12. Developing • Prototype development & testing • Market research & testing • Manufacturing feasibility • Business plan

  13. Doing • Launch • Growing • Sustaining

  14. One Company’s Approach

  15. Stage 1: Build Knowledge • Obtain fundamental knowledge • Seek ideas (unique phenomena, discontinuities, opportunities, customer needs) • Advance state-of-the-art techniques • Establish team

  16. Stage 2: Determine Feasibility • Narrow alternatives • Develop idealized specs from customers • Demonstrate at experimental level • Investigate competition

  17. Stage 3: Test Practicality • Develop prototype and manufacturing process • Test prototype in lab & with customers • Estimate manufacturing costs & investment requirements • Develop preliminary marketing plan. Thoroughly assess competitive response.

  18. Stage 4: Prove Profitability • Make samples in pilot or best product/ process to achieve specs • Sell samples to target customers • Set project timing based on window of opportunity & manufacturing requirements • Finalize market plan. Write funding request.

  19. Stage 5: Commercialize • Design, build, install, debug, & run production line • Launch product, sell product, grow business • Increase profitability through quality improvements, manufacturing cost reduction, product extensions & renewals

  20. 10 Famous Product Failures … and the advertisements that did not sell them Show me

  21. The Next Sea Change?

  22. Sources of Growth Historical Success Rates New 35% success 5% success Technology 50% success 15% success Existing Market New Existing

  23. “Man will not fly for fifty years.” Orville Wright, 1901 • “The nickel-iron battery will put the gasoline buggy … out of existence in no time. Thomas A. Edison, 1910 • “There is a world market for about five computers.” Thomas J Watson, IBM

  24. “Well informed people know it is impossible to transmit the voice over wires and that were it possible to do so, the thing would be of no practical value.” 1865, The Boston Globe • “X-rays will prove to be a hoax.” William Thomson, Lord Kelvin, President of the Royal Society

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