From Bench to Business

1
From Bench to Business

• Brittany Jaeger
• Katie Garcia

2
Overview

• What are the chances of commercial success?
• Types of innovation
• Market Dynamics
• Conclusion
• Questions

3
What are the chances of commercial success?

• -less than 2 of new scientific ideas make the
  transition from the bench to profitable
  business.
• Pressures for technological advances, social
  benefits and economic growth

4
Types of Innovation
Process Innovation
Product Innovation
Service Industry
Manufacturing Sector
Materials-based Products
5
Market Dynamics

• Relationship of new product to market
• Market-pull
• No change in customer or user behavior required
• Little or no perceived risk to the customer
• Technology-push
• Customers must highly value the additional
  performance
• Must be one order of magnitude better
• Example VHS DVD BLUERAY

6
Take a critical look.

• Before you take a product into the market,
  understand the relationship between the product
  and the process.
• This is vital to understand before making the
  investment of entering the marketplace.

7
QUESTIONS????