Our Approach
While we present three main methods of engagement, we tailor our approach to what is most appropriate to the needs of the Research Institutes with whom we work. Typically, Research Institutes do not have the people and financial resources to review their portfolios; identify their most valuable technologies; define the commercialization and/or R&D path and, finally, execute against the commercialization plan; therefore, we have designed a “typical” five-phase approach based on Research Institute needs. We outline the approach below.
Detailed Approach
Phase 1 – Baseline: Benchmark Research Institute (RI) versus relevant peers. Diagnose RI and ecosystem strengths and weaknesses. Determine transformational levers needed for successful commercialization
Phase 2 – Assess and Short-List Valuable R&D Assets: Review the RI portfolio including invention disclosures, patented technology, as well as licenses, collaborative R&D agreements and sponsored research. Determine quantitative and qualitative short-listing criteria. Criteria could include factors relevant to technology age/stage, RI strategic intent and strengths, market demand, feasibility, ability to attract collaborators, and other relevant variables based on industry. Survey inventors to gain their insights as to the value of the technology. Evaluate and short-list technology
Phase 3: Prioritize and Select Technologies: Evaluate and perform “deep dives” on technologies against a series of 72 possible quantitative and qualitative analyses, including interviews with subject matter experts. Select technologies that have the highest potential for successful commercialization
Phase 4 – Determine Commercialization Path: Depending on the characteristics and stage of technology, identify appropriate path for initial or further commercialization. Commercialization options include, but are not limited to: license agreements, collaborative R&D, sponsored research, startups, royalty stream sales, etc. Also, at times, the path could be a roadmap for further internal RI R&D
Phase 5 – Implement Commercialization Path: Our approach to implementation depends on the path defined in phase 4. For example, for those technologies that should be licensed, we will identify organizations that could benefit from licensing. As it relates to startups, we will assist in creating the startup, identifying the management team, identifying/raising capital, etc.
To ensure the highest probability of success, we also establish performance management, coaching and governance systems to allow for ongoing cultivation of valuable R&D assets.
Our overall mission is to create a sustainable, to ensure ongoing growth of the ecosystem, a roadmap and blueprint can be created for how the RI can collaborate with local economic development organizations, other foundations, universities, and companies in the ecosystem. Also, we can continue to engage with the program to provide ongoing support.
Phase 2 – Assess and Short-List Valuable R&D Assets: Review the RI portfolio including invention disclosures, patented technology, as well as licenses, collaborative R&D agreements and sponsored research. Determine quantitative and qualitative short-listing criteria. Criteria could include factors relevant to technology age/stage, RI strategic intent and strengths, market demand, feasibility, ability to attract collaborators, and other relevant variables based on industry. Survey inventors to gain their insights as to the value of the technology. Evaluate and short-list technology
Phase 3: Prioritize and Select Technologies: Evaluate and perform “deep dives” on technologies against a series of 72 possible quantitative and qualitative analyses, including interviews with subject matter experts. Select technologies that have the highest potential for successful commercialization
Phase 4 – Determine Commercialization Path: Depending on the characteristics and stage of technology, identify appropriate path for initial or further commercialization. Commercialization options include, but are not limited to: license agreements, collaborative R&D, sponsored research, startups, royalty stream sales, etc. Also, at times, the path could be a roadmap for further internal RI R&D
Phase 5 – Implement Commercialization Path: Our approach to implementation depends on the path defined in phase 4. For example, for those technologies that should be licensed, we will identify organizations that could benefit from licensing. As it relates to startups, we will assist in creating the startup, identifying the management team, identifying/raising capital, etc.
To ensure the highest probability of success, we also establish performance management, coaching and governance systems to allow for ongoing cultivation of valuable R&D assets.
Our overall mission is to create a sustainable, to ensure ongoing growth of the ecosystem, a roadmap and blueprint can be created for how the RI can collaborate with local economic development organizations, other foundations, universities, and companies in the ecosystem. Also, we can continue to engage with the program to provide ongoing support.
