Long course title: Experience the product development process first hand by teaming with a business to define a commercialization plan

Transcription

1 GRAD720: Technlgy Cmmercializatin Instructr: Jhn Ujvari, MBA Phne: credit hurs Shrt title / Descriptin: Technlgy Cmmercializatin Lng curse title: Experience the prduct develpment prcess first hand by teaming with a business t define a cmmercializatin plan Lng descriptin: (3.0) A cllabrative curse that matches teams f tw students with a small business that has received a Phase I SBIR. The curse will guide students thrugh develpment f a cmpetitive cmmercializatin plan. Key tpics include: cnducting market research and analysis f findings, understanding implicatins f intellectual prperty prtectin, team selectin and business mdel alternatives. A 10-page cmmercializatin plan and presentatin f the plan are the final deliverables. Curse Meeting Lcatin / Time TBD One weekly 3-hur class Curse Overview This curse is designed t link Prfessinal Science Master s (PSM) in Txiclgy students with a health-related technlgy and its inventr/researcher that has received Phase I Small Business Innvatin Research (SBIR) r Small Business Technlgy Transfer (STTR) federal grant funds and is pised t cmmercialize their technlgy. PSM students will wrk with the inventr/researcher t develp the SBIR/STTR Phase II prpsal and cmmercializatin plan that fllws Phase I. In this hands-n curse, students will have the pprtunity t: Establish a client relatinship with the researcher and learn abut the technlgy being develped Wrk n a team with anther PSM Txiclgy student t fster a cllabrative envirnment Gain an understanding f hw t assess a technlgy s cmmercializatin ptential Learn the strategic planning and prject management inherent in the cmmercializatin prcess Develp and, ptentially, submit an SBIR/STTR Phase II grant Curse Materials This curse requires the fllwing texts: Winning SBIR/STTR Grants: A Ten Week Plan fr Preparing Yur NIH Phase I Applicatin, ISBN

2 NxLevel Guide fr Entrepreneurs, 5 th Editin, ISBN (Available via Instructr) NxLevel Wrkbk (Available via Instructr) Optinal reading: The Lean Startup: Hw Tday's Entrepreneurs Use Cntinuus Innvatin t Create Radically Successful Businesses, ISBN Additinal readings will be psted n the curse site. The instructr will alert yu in class when additinal readings are required. Participatin & Attendance Students are required t attend all class perids. If an emergency arises and the student must miss class, class absences must be apprved by the instructr prir t class. Class time will entail: Interactive discussin f new tpics Team wrk t cmplete and imprve assignments Wrk sheet assessments based n readings Review f prir week s assignments Discussin f new materials and strategies that will supprt successful cmpletin f the weekly assignment Hnr Cde The principles f academic hnesty, integrity, and respnsible citizenship gvern the perfrmance f all academic wrk and student cnduct at the University as they have during the lng life f this institutin. Yur acceptance f enrllment in the University presuppses a cmmitment t the principles embdied in the Cde f Student Cnduct and a respect fr this mst significant Carlina traditin. Yur reward is in the practice f these principles. Yur participatin in this curse cmes with the expectatin that yur wrk will be cmpleted in full bservance f the Hnr Cde. Academic dishnesty in any frm is unacceptable, because any breach in academic integrity, hwever small, strikes destructively at the University's life and wrk. If yu have any questins abut yur respnsibility r the respnsibility f faculty members under the Hnr Cde, please cnsult with smene in either the Office f the Student Attrney General ( ) r the Office f the Dean f Students ( ). Yu als may refer t The Instrument f Student Judicial Gvernance ( Grading The grading scale fr the class is:

3 Scre Range High Pass Pass Lw Pass Fail Belw 700 Percentage # f Cmpnents Pints per Cmpnent Ttal Plan 40% 8 8 x Presentatin 30% 3 3 x Participatin 15% 1 1 x Team 15% 1 1 x %: Written cmmercializatin plan A scre f zer t 50 will be given t each f the eight cmmercializatin plan sectins. The highest scre pssible is %: Oral presentatin f cmmercializatin plan develpment A scre f zer t 100 will be given t each f the three cmpnents (pwerpint presentatin, ral presentatin, Q&A) f the presentatin. The highest scre pssible is %: Participatin and cntributin in class The highest scre pssible is 150. Students will be evaluated based n a predetermined rubric knwn t the student. 15%: Student teamwrk and small business client relatinship. The highest scre pssible is 150. The client that is teamed with students and instructr will scre the students based n a pre-determined rubric knwn t the student. Curse Schedule Class discussin 1: Understanding the SBIR and STTR Federal R&D funding mechanisms Student intrductins Assignments Orientatin t class structure and expectatins Schedule and cmplete initial client Review syllabus Summarize client discussin ntes SBIR/STTR verview Prepare client summary fr class Case studies f SBIR successes and failures discussin Class #2 reading Phase 1 prpsal prvided by client

4 Class discussin Winning SBIR/STTR Grants: A Ten Week Plan fr Preparing Yur NIH Phase I Applicatin, pp : The Phase 1 SBIR Prpsal Review SBIR/STTR prpsal cmpnents Significance Innvatin Specific aims Research plan Team Budget Client summary ntes and discussin Read again the Phase I prpsal, Significance and Innvatin sectins Class #3 reading: Successful Phase 2 prpsal Review and evaluate the client prpsal, fcusing n Clarity Salesmanship Cmmercial aims Team credibility 3: Value f the SBIR/STTR Prject, Expected Outcmes and Impact Describe the prpsed prject and its key technlgy bjectives Expand and develp mre fully the utline Understand the prduct, prcess, r service t be develped in Phase III Clarify the need addressed, specifying weaknesses in the current appraches t meet the need Describe the cmmercial applicatins f the research and the innvatin inherent in this applicatin Specify the ptential scietal, educatinal, and scientific benefits f this wrk Describe the nn-cmmercial impacts t the verall significance f the prject Explain hw the SBIR/STTR prject integrates with the verall business plan f the cmpany Draft a ne-page cmmercializatin plan sectin that addresses the Value f the SBIR/STTR Prject, Expected Outcmes and Impact Schedule and cmplete a minute client t review prject value draft dcument Class #4 reading: NxLevel Guide fr Entrepreneurs, chapters 14, 17, 21-23: Legal structure f the business Managing risk Management verview Team building and leadership Managing human resurces 4: Defining and Describing the Cmpany Discuss the rad map f the cmpany and its cmpnents including: Crprate bjectives Cre cmpetencies Present size (annual sales level and One-page cmmercializatin plan draft sectin titled: Value f the SBIR/STTR Prject, Expected Outcmes, and Impact

5 Class discussin number and types f emplyees) Histry f previus Federal and nn- Federal funding Regulatry experience Successful cmmercializatins Current prducts/services that have significant sales Funding cmmitments frm private sectr Define cmpany s visin fr the future: Hw cmpany will grw and maintain a sustainable business entity Anticipated hurdles as cmpany grws, and prpsed slutins Hw cmpany will meet critical management functins as it evlves frm a small technlgy R&D business t a successful cmmercial entity Management team Bard f Directrs Scientific Advisry Bard Business Advisry Bard Recruiting plans Organizatinal chart Selected wrksheets frm NxLevel wrkbk Expand and develp mre fully the utline Draft a ne-page cmmercializatin plan sectin that addresses the Cmpany Overview Schedule and cmplete a minute client t review cmpany verview draft dcument Reading fr class #5: NxLevel Guide fr Entrepreneurs, chapters 25-27: The Marketing Plan Market Research and Analysis Market Objective, Strategies and Tactics 5: Identifying Market and Custmer Describe the market and/r market segments the cmpany is targeting and prvide a brief prfile f the ptential custmer: Market size and grwth Custmer prfile Sales and market share prjectins Pricing and margin analysis Market trends Market research One-page cmmercializatin plan draft sectin titled: Cmpany Overview Selected wrksheets frm NxLevel wrkbk Draft phne / nline survey Draft a ne-page cmmercializatin plan sectin that addresses the Market and Custmer Schedule and cmplete a 30-minute client Reading fr class #6

6 Class discussin Define a strategy t cllect data Data analysis Selected reading prvided by instructr 6: Assessing the Cmpetitin Discuss assignments due Overview f the current cmpetitive landscape and any ptential cmpetitrs ver the next several years. Prducts What / wh is the cmpetitin? Hw are these prducts sld nw? Price Cmpanies Market share IP situatin Size Innvative? Pssible partner? Hw will yu cmpete? NxLevel wrkbk wrksheets Phne / nline survey One-page cmmercializatin plan draft sectin titled: Market and Custmer Selected wrksheets frm NxLevel wrkbk Launch custmer survey and gather data Expand and develp mre fully the utline Draft a ne-page cmmercializatin plan sectin that addresses the Cmpetitin, including a feature cmparisn table (see figure 1) Schedule and cmplete a 30-minute client Reading fr class #7: SBTDC Intellectual Prperty Guide NxLevel Guide fr Entrepreneurs, chapter 18, Intellectual Prperty Rights Assess advantages f the innvatin Perfrmance Cst Efficiency/effectiveness New capability What are the custmers current alternatives t slve the prblem (include ding nthing) Hurdles t vercme in rder t gain market/custmer acceptance f yur innvatin Strategic alliances, partnerships, r licensing agreements yu have in place t get FDA apprval (if required) and t market and sell yur

7 Class discussin prduct 7: Intellectual Prperty (IP) Prtectin Discuss assignments due Describe hw cmpany is ging t prtect the IP that results frm the innvatin Actins that may be taken that wuld cnstitute a tempral barrier t thers aiming t prvide a similar slutin Public disclsures Understand wnership if partnering with anther cmpany r university One-page cmmercializatin plan sectin that addresses the Cmpetitin, including a feature cmparisn table (see example belw) NxLevel wrkbk wrksheets Cntinue t gather custmer survey data Selected wrksheets frm NxLevel wrkbk Expand and develp mre fully the utline Draft a ne-page cmmercializatin plan sectin that addresses the Intellectual Prperty, Schedule and cmplete a 30-minute client Reading fr class #8 NxLevel Guide fr Entrepreneurs, chapters 28-31: Prduct Price Prmtin Placement 8: Marketing Plan Discuss assignments due Describe hw the prductin f yur prduct/prcess/service will ccur (e.g. in-huse vs cntract manufacturing) 4 Ps f Marketing Prduct Price Placement Prmtin One-page cmmercializatin plan sectin draft that addresses the IP Prtectin Plan Custmer survey results Selected wrksheets frm NxLevel wrkbk Expand and develp mre fully the utline Draft a ne-page cmmercializatin plan sectin that addresses the Marketing Plan Schedule and cmplete a 30-minute client Reading fr class #9 NxLevel Guide fr Entrepreneurs, chapters

8 Class discussin 39-40: Financing yur Business Mney Surces 9: Finance Plan Discuss assignments due Describe the necessary financing required t cmmercialize the prduct, prcess, r service, and when it will be required Describe plans t raise the requisite financing t launch yur innvatin int Phase III and begin the revenue stream. Surces may include: Internal funds Debt Angles VC Jint ventures Cntracts IPO Other federal funding mechanisms One-page cmmercializatin plan sectin that addresses the Marketing Plan NxLevel wrkbk wrksheets Selected wrksheets frm NxLevel wrkbk Expand and develp mre fully the utline Draft a ne-page cmmercializatin plan sectin that addresses the Financing Plan Schedule and cmplete a 30-minute client Reading fr class #10 NxLevel Guide fr Entrepreneurs, chapters 35-38: Overview f financial statements Keeping bks and recrds Budgeting Cash flw management Letter f cmmitment f funding Letter f intent r evidence f negtiatins t prvide funding, shuld the Phase II prject be successful and the market need still exist. Letter f supprt fr the prject and/r sme in-kind cmmitment, e.g., t test r evaluate the innvatin. Specific steps yu are ging t take t secure Phase III funding 10: Revenue Stream Discuss assignments due Define the plan t generate a revenue stream fr yur cmpany One-page cmmercializatin plan sectin that addresses the Financing Plan NxLevel wrkbk wrksheets

9 Class discussin shuld this prject be a success. Examples f revenue stream generatin include: Manufacture and direct sales Sales thrugh value added resellers r ther distributrs Jint venture Licensing Service 5 year prjectins, including revenue and expenses Hw staffing will change t meet revenue expectatins. Cnfirm cmmitment(s) f funds and/r resurces frm an investr r partner rganizatin fr cmmercializatin f the prduct(s) r service(s) resulting frm the SBIR/STTR grant. Expand and develp mre fully the utline Draft a ne-page cmmercializatin plan sectin that addresses the Revenue Stream Schedule and cmplete a 30-minute client Reading fr class #11 NxLevel Guide fr Entrepreneurs, chapter 46, Supply Chain Management 11: Prductin Plan Discussin f prductin Timing Cst Partners One-page cmmercializatin plan sectin that addresses the Revenue Stream, including graphs (see figure 2) Assignment Selected wrksheets frm NxLevel wrkbk Expand and develp mre fully the utline Cmpile and review all sectins f the cmmercializatin plan 12: Review cmmercializatin plan draft Wrking sessin with client t refine cmmercializatin plan Cmmercializatin plan draft Refine cmmercializatin plan based n class discussin Final presentatin and elevatr pitch 13: Review cmmercializatin plan and presentatin

10 Class discussin Practice presentatin and elevatr pitch Cmmercializatin plan draft #2 Refine final presentatin and elevatr pitch 14: Presentatin t client and invited guests Final cmmercializatin plan Final presentatin and elevatr pitch Figure 1: Example f week #6, Feature cmparisn table Figure 2. Example f week #10, Revenue stream graph