Commercializing Innovation: Turning Technology Breakthroughs into Products
- 3h 18m
- Jerry Schaufeld
Commercializing Innovation: Turning Technology Breakthroughs into Products shows how to turn ideas from R&D labs, universities, patent offices, and inventors into commercially successful products and services.
Commercializing technology has never been easy, and it's getting tougher all the time. All the decisions you need to make are complicated by today's breakneck rates of change in enabling technology and by competitive pressures disseminated globally at the speed of the internet: Where to get ideas? Which to pursue? Whom to hire? Where to manufacture? How to fund? Create a startup or license to another? To answer these questions adequately and bring sophisticated products and services successfully to market, you need to deploy the systematic methods detailed in this book.
Jerry Schaufeld--serial technology entrepreneur, angel investor, and distinguished professor of entrepreneurship--presents in detail his proven step-by-step commercialization process, beginning with technology assessment and culminating with the successful launch of viable products into the global market. Using case studies, models, and practical tips culled from his entrepreneurial career, he shows readers of Commercializing Innovation how to
- Source technology that can be turned into products
- Recognize an opportunity to create a viable product
- Perform feasibility analyses before sinking too much money into a project
- Find the right method and means to introduce the product to market
- Plan the project down to the last detail
- Execute the project in ways that improve chances of its success
- Comply with government regulation without crippling your project
- Decide whether offshore manufacturing is your best option
- Compete globally with globally sourced ideas and funding
What you’ll learn
- Step-by-step methods for bringing technology products to market
- How to systematize the commercialization of technology-based ideas
- Where to find breakthrough technology innovations or how to create them yourself
- How to improve the success rate of commercialization projects
- Different methods for marketing products to maximize impact and sales
Who this book is for
- Venture capitalists and angels
- Business development professionals
- Business and engineering school professors and students
- Government and corporate consultants
About the Author
Jerry Schaufeld's wealth of experience in entrepreneurship, operations, and general management of technology-based companies ranges from his current role as Professor of Entrepreneurship at WPI to an assignment as a commercialization consultant at Children's Hospital in Boston. He served as Director of the RI Slater Fund, was President and CEO of Mass Ventures, and he has a "hands on" track record in several early-stage companies that ranges from functional to board-level advisory roles. He is a member of the Launch Pad Angel Group in Wellesley and Co-founder of the Cherrystone Angels in Rhode Island. In addition, Mr. Schaufeld is an advisor to the newly formed Boynton Angel group in Central Massachusetts, a charter member of the national Angel Capital Association (ACA), and a founder/ participant in the regional NE Angels ACA group. Mr. Schaufeld was a founder and the first Chairman of the MIT Enterprise Forum. He also founded the Incus Group, which is a CEO-level business acquisition and resource organization.
Mr. Schaufeld was co-founder of Phoenix Controls Corporation. The company pioneered an approach to the control of air flow in critical laboratory and hospital environments and was successfully sold to a Fortune 500 company.
With a graduate engineering degree, research experience at MIT, an MBA, professional engineer's license, and Professional Board Director's Certification, Mr. Schaufeld has a distinguished technical and operations-savvy managerial career. His current interest and research is in the area of improving the probability of success in early stage, innovative, technology-based ventures.
In this Book
The Commercialization Model
The Sources of Ideas for Commercialization: Are There Enough?
Winnowing Down: The Challenge of Opportunity Recognition
The Project Plan
To Market or Not…
ROI: Does it Make Sense?
Big Brother and Global Competition