Innovation to Commercial Success

1
Innovation to Commercial Success

• Mr Nick Turberville
• Business Development Manager
• Evolution Life Science Ltd
• 7th December 2004

2
The First Steps

• The Bath Tub Moment
• How did I get to this point?
• What is my first port of call?
• Protecting your Invention, who can help?
• Now my Invention is protected How will it make
  money?
• Routes to Market

3
The Bath Tub Moment

• All businesses start with the Idea
• Business ideas are usually
• Lower cost ways of making existing products
• New product/service that meets current customer
  needs better than that which is currently
  available (Time and or money savings)
• New product/service that meets unmet customer
  needs (Time and or money savings)

4
How did I get to this point?

• You know the technology inside out
• You have an innovative viewpoint
• You are starting think as an entrepreneur
• You want to create a commercial outcome

5
What is my first port of call?

• Every institution has a slightly different
  process
• Identify and talk to your local Research and
  Commercialisation office

6
Protecting your Invention, who can help?

• In addition to your local research and
  commercialisation office, other sources of advice
  are available
• The Chartered Institute of Patent Agents (CIPA)
  runs clinics giving free basic advice to
  innovators at the early stages of developing an
  idea.
• Business Link which include Personal Business
  Advisers (PBAs) or Innovation Technology
  Counsellors (ITCs), may be able to give advice.
• The Small Business Service that has been
  specifically set up to provide appropriate
  assistance for small businesses.
• Innovation Relay Centres (IRC's) which were
  founded by the European Commission's
  Innovation/SMEs (small and medium sized
  enterprises) Programme.

7
Now my Invention is protected

• Who has a claim to the IPR?
• Initial Market Analysis.
• Is there a market there?
• Who has similar technology?
• How big is their market share?
• Are they making money and how?

8
Route to market
9
Route to market

• Licensing
• Who could utilise the technology?
• Do they want it?
• How much are they willing to pay for it?
• Exclusive vs. Non Exclusive
• Ownership of Foreground IP

10
Route to market

• Spin Out
• Business Plan creation.
• Investment Returns, How much, How long,.
• How much equity are you willing to give up?
• Who will populate the new company?
• Can you sign up customers?
• What is your exit strategy?

11
Route to market

• Spin Out
• Product development.
• Management team.
• Market entry strategy.
• Product promotion.
• Maintaining Patent Portfolio.

12
The First Steps

• The Bath Tub Moment
• How did I get to this point?
• What is my first port of call?
• Protecting your Invention, who can help?
• Now my Invention is protected How will it make
  money?
• Routes to Market

13
Leaving Thoughts

• In the business world, everyone is paid in two
  coins cash and experience. Take the experience
  first the cash will come later
• You can't run a business or anything else on a
  theory
• The five essential entrepreneurial skills for
  success Concentration, Discrimination,
  Organization, Innovation and Communication
• (Harold Geenen 1910- )