IPR Analysis will use various search engines and mapping tools to determine who owns intellectual property necessary for the practice of a new technology, and who is currently working on creating relevant IPR. Strategies for controlling IPR, locking-up necessary components, and keeping potential competitors at bay will be discussed. Market Analysis will distill a realistic picture of customer need and potential market pull for the application of the new technology or product through direct contact with companies that are already in the business or planning to enter the market. Legal and ethical means of gathering information about competitors’ strategies will be described. Means of testing hypotheses regarding potential target markets will be discussed along with strategies to pivot to new target markets when tests fail. Creating a Business Model will focus on the value proposition associated with commercialization of the new technology and means for differentiating a new product such as low environmental impact and sustainability. We will examine the competitive/regulatory environment surrounding the new product, and possibilities for partnering to speed commercialization. Prioritizing R & D to Fulfill the Business Model will examine when it is warranted to finance internal research projects aimed at closing the gaps between current technical capability and what is required for a full commercialization of the new product, and when it is wise to seek external sources of IPR or R&D to close the gaps. Selling R & D Projects to Senior Management, Business Leaders or Venture Capitalists will teach attendees to put their proposals into a form that is understood and appreciated by business people using the business model canvas. Managing R & D Projects and Stakeholder Buy-in will give the attendee tools to run R&D projects using criteria and a timeline established with the business stakeholders. Tools for minimizing the risks involved in investments in new technologies such as used by Boeing to determine its R&D portfolio will be discussed.
Course participants will receive hands-on experience in three workshops with the preparation and presentation of an IPR analysis, a market analysis including hypothesis testing for addressing the viability of new product proposals, development of a business model, and an R&D strategy for the development of a new product. Working in groups, the attendees prepare and present a pitch for their new product idea using all of the above tools.