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L3. Legal Technical

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L3. Legal Technical

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    1. L3. Legal & Technical EC10: Innovation & Commercialisation The acquisition and use of knowledge as a management tool to build competitive advantage. Marcus Thompson wmt1@stir.ac.uk

    2. 3. Legal & Technical Barriers 2 Legal & Technical Outline Crossing the Chasm Business Support Intellectual Property Product Development Strategies

    3. 1. Crossing the Chasm EC10 Innovation & Commercialisation

    4. 3. Legal & Technical Barriers 4 Changing Industry Structures 4 Characteristics are: Scale Magnitude (to include status quo) Duration Strategic importance Benefits of managing change must occur at the human level. A leader must manage change at this level while still retaining the values, sense of identity and culture of the organisation

    5. 3. Legal & Technical Barriers 5 Moores Theory of Diffusion “The point of greatest peril in the development of a high-tech market lies in making the transition from an early market dominated by a few visionary customers to a mainstream market dominated by a large block of customers who are predominantly pragmatists in orientation.”

    6. 3. Legal & Technical Barriers 6 Discontinuous Diffusion the rate of diffusion in the Technology Adoption Life Cycle curve is not continuous in high tech markets the product's perceived advantage or benefit riskiness of purchase ease of product use - complexity of the product immediacy of benefits observability trialability price extent of customers behavioural changes required return on investment in the case of industrial products

    7. 3. Legal & Technical Barriers 7 Buying Theory & Innovation

    8. 3. Legal & Technical Barriers 8 Diffusion Theory Everett Rogers ‘Diffusion of Innovations’ (1962) emerged in the 1960s out of rural studies of innovation adoption A dominant model that has influenced thinking about the spread of new ideas, products and processes. The rural ‘extension’ programs are based on the diffusion model of knowledge transfer Diffusion Theory Is concerned with: the factors that affect the take up of an idea the factors affecting the spread of ideas or products and processes Diffusion is seen as information exchange, a communication process the notion of social communication networks through which information flows to reduce uncertainty

    9. 3. Legal & Technical Barriers 9 Information & Knowledge

    10. 3. Legal & Technical Barriers 10 Diffusion Theory & R&D Direct collaborative research direct transfer to users spin-off companies tacit knowledge transfers readily Packaged papers, seminars, conferences, workshops, journals, licenses, patents. Consequences the knowledge has been produced and packaged so responsibility ends? adoption of an innovation is not a research problem?

    11. 3. Legal & Technical Barriers 11 ‘the situated and intensely practical nature of the mechanisms involved in the transition of technology’ (McMaster, Vidgen & Wastell, 1997) This suggests that tt is contextual and practical its about doingThis suggests that tt is contextual and practical its about doing

    12. 3. Legal & Technical Barriers 12 An Alternative Construct: Actor-networks from Studies in Science, Technology and Society (STS) Developed in the mid 1980s by sociologists studying soci-technical interactions. Technology is a social construct, as such the social and the technical cannot be separated Based on notions of knowledge and power interrelationships as they relate to change, including innovation Defines and acknowledges the human and the non-human ‘Actors’ in the innovation process Defines three periods of network building with messy borders Emergence development stabilisation

    13. 2. Support for Innovation EC10 Innovation & Commercialisation

    14. 3. Legal & Technical Barriers 14 New Technology Based Firms "independently owned businesses established for not more than 25 years and based on the exploitation of an invention or technical innovation which implies substantial technological risks". Arthur D. Little, Consultancy

    15. 3. Legal & Technical Barriers 15 innovative and technology-based firms are no more likely to fail than other small firms innovative or technology-based new and small firms are more likely to create employment than similar firms in the overall population, growth amongst innovative and technology based new and small firms tends to be concentrated in a few firms even amongst the fastest growing firms the absolute number of jobs created tends to be modest growth is seldom an objective of those firms.

    16. 3. Legal & Technical Barriers 16 Innovation: Visionaries V Pragmatists Visionaries Adventurous Early buy-in attitude Think "big" Independent of the "herd" Spend big First-use capability Think Pragmatists are pedestrian

    17. 3. Legal & Technical Barriers 17 Do not think about selling to . . Pragmatists or Late Majority The majority pragmatists, who represent about one-third of available customers, dislike discontinuous innovations and believe in tradition rather than progress. They buy high-technology products reluctantly and do not expect to like them. Traditionalists or Laggards do not engage with high technology products - except to block them. They perform the valuable service of pointing out regularly the discrepancies between the day-to-day reality of the product and the claims made for it. At least until you have the organisation & team to do it!

    18. 3. Legal & Technical Barriers 18 Innovation Checklist Does it create new value for customers? A response to unmet customer needs or problems? Is asking price related to value for the customer – rather than to cost to produce? Reasonable speed to market is possible? Does it delivers benefits not product attributes? Simple and focused Does one thing much better than anything else Satisfies one need Satisfies one group of customers Can it create first leadership advantage position in the market quickly? Not too clever nor too far ahead of market? Consistent with an organisation’s strength and not too diverse in terms of product?

    19. 3. Intellectual Property EC10 Innovation & Commercialisation

    20. 3. Legal & Technical Barriers 20 Knowledge transfer & Commercialisation Commercialisation is the process of taking these innovations and turning them into goods and services that add value in the marketplace (see Etzkowitz, Webster and Healey, Capitalizing Knowledge) It takes entrepreneur(s) with the right combination of skills, abilities, resources, timing—and sometimes luck—to successfully commercialize technologies. Transformation of science into economic goods is not new. What is new is the intensification of this process, including the shortening of the time span between discovery and utilization, and increased reliance of industry on knowledge originated in academic institutions (Etzkowitz, Webster and Healey, Capitalizing Knowledge, p. 2). What are technology parks? New technologies and innovations are being developed every day in universities, private laboratories and corporations throughout the world. Commercialization is the process of taking these innovations and turning them into goods and services that add value in the marketplace—thereby creating high-paying jobs and wealth. Commercialization is often a difficult process, and it takes an entrepreneur with the right combination of skills, abilities, resources, timing—and sometimes luck—to successfully commercialize technologies. The Science Center can help entrepreneurs and intrapreneurs overcome barriers. We provide a customized portfolio of business development services to help early stage companies survive the often-turbulent period of initial commercialization and reach their full potential. The Science Center delivers its commercialization services through the following means: They are generally defined as organizations managed by specialized professionals whose main aim is to increase the wealth of its community by promoting the culture of innovation and the competitiveness of their associated businesses and knowledge-based institutions. Technology parks provide not only the specialized physical space, but also a range of other value-added services to help commercialize technology and innovation.Transformation of science into economic goods is not new. What is new is the intensification of this process, including the shortening of the time span between discovery and utilization, and increased reliance of industry on knowledge originated in academic institutions (Etzkowitz, Webster and Healey, Capitalizing Knowledge, p. 2). What are technology parks? New technologies and innovations are being developed every day in universities, private laboratories and corporations throughout the world. Commercialization is the process of taking these innovations and turning them into goods and services that add value in the marketplace—thereby creating high-paying jobs and wealth.

    21. 3. Legal & Technical Barriers 21 Commercialisation services provided by the Science Centre: Incubation: Providing physical space and a range of supportive services to new companies. Tech Transfer: Commercializing IP created in corporate research centers. Business Planning: Drafting formal business plans. Strategic Partnering: Facilitating the licensing of new technology or making the connections necessary to advance business goals. Executive Training: Educating the decision makers in technology and life science companies. Product Development/IP Strategy: Fine-tuning your product and service and developing a solid IP strategy. Industry Education: Finding out about your business environment, including your competitors and industry leaders. Commercialization services provided by the Science Center: Incubation: Providing physical space and a range of supportive services to new companies. Tech Transfer: Commercializing IP created in corporate research centers. Business Planning: Drafting formal business plans. Strategic Partnering: Facilitating the licensing of new technology or making the connections necessary to advance business goals. Executive Training: Educating the decision makers in technology and life science companies. Product Development/IP Strategy: Fine-tuning your product and service and developing a solid IP strategy. Industry Education: Finding out about your business environment, including your competitors and industry leaders. Scientific Product Review: Reviewing the scientific merits of your product or service. Financial Planning: Building the financial infrastructure needed to support your business goals. Grantwriting: Seeking grant-based research funding. Access to capital: Providing the entrée to venture capitalists and investment bankers. Investor Presentations: Preparing and refining successful presentations. Market Positioning: Determining how your product fits within the marketplace. Sales Strategy: Finding new markets for your products and services. Commercialization services provided by the Science Center: Incubation: Providing physical space and a range of supportive services to new companies. Tech Transfer: Commercializing IP created in corporate research centers. Business Planning: Drafting formal business plans. Strategic Partnering: Facilitating the licensing of new technology or making the connections necessary to advance business goals. Executive Training: Educating the decision makers in technology and life science companies. Product Development/IP Strategy: Fine-tuning your product and service and developing a solid IP strategy. Industry Education: Finding out about your business environment, including your competitors and industry leaders. Scientific Product Review: Reviewing the scientific merits of your product or service. Financial Planning: Building the financial infrastructure needed to support your business goals. Grantwriting: Seeking grant-based research funding. Access to capital: Providing the entrée to venture capitalists and investment bankers. Investor Presentations: Preparing and refining successful presentations. Market Positioning: Determining how your product fits within the marketplace. Sales Strategy: Finding new markets for your products and services.

    22. 3. Legal & Technical Barriers 22 Tech Transfer & Science Parks Management strategies used in United Kingdom University led and funded strategy: Park established and developed and managed by a HEI on its own (this is the least common model). Examples include Cambridge, Heriot-Watt and Surrey. Joint venture company strategy: Science Park run as a separate legal entity. This mechanism ensures a continuing positive role for the HEI and other investors in the joint venture company. Examples include Aston (Birmingham Technology Limited), Southampton (Chilworth Centre Limited) and Warwick (University of Warwick Science Park Limited). Co-operative venture strategy: Partners work together within a flexible and informal framework. A local authority or development agency usually leads the development. Least input from the HEI. Most common strategy. Examples include Aberystwyth, Antrim, Durham and Stirling Science Parks.

    23. 3. Legal & Technical Barriers 23 Commercialisation Services Scientific Product Review: Reviewing the scientific merits of your product or service. Financial Planning: Building the financial infrastructure needed to support your business goals. Grantwriting: Seeking grant-based research funding. Access to capital: Providing the entrée to venture capitalists and investment bankers. Investor Presentations: Preparing and refining successful presentations. Market Positioning: Determining how your product fits within the marketplace. Sales Strategy: Finding new markets for your products and services.

    24. 3. Legal & Technical Barriers 24 Clusters and Regional innovation The concept of clusters developed to explain national or regional success Innovation seldom takes place in isolation but is systemic. The cluster is a ‘reduced scale innovation system’ Clusters as networks of production of strongly interdependent firms linked to each other in a value-adding production chain. Clusters mostly also encompass strategic alliances with universities, research institutes, knowledge-intensive business services, bridging institutions (brokers, consultants) and customers. Communities of practice and networks of practice Knowledge communities e.g. Motorsport cluster

    25. 3. Legal & Technical Barriers 25 Creativity and Talent Cluster success requires and encourages flow of talented individuals Especially important in new economy, multimedia, creative industries etc Work in the US on the geography of talent focuses on role of urban amenities Association between creative employment and open, vibrant communities Successful places are cosmopolitan, young people oriented, buzzing etc

    26. 3. Legal & Technical Barriers 26 Scotland and Innovation Scotland's innovation activity stems from the analysis set out in the Framework for Economic Development in Scotland (FEDS) and the Smart, Successful Scotland strategy for the enterprise networks. Progress to date (2004) On-stream projects

    27. 3. Legal & Technical Barriers 27 On Science Parks “Faced with the magnitude of the task of innovation, appendixing to the science park the role of innovation ‘seedbed’ or regional development ‘growth pole’ may be an unrealistic expectation from a project that in many instances is not much more than a real-estate development. Thus, if there is some disappointment in the fact that science parks are often not much more than high-tech ‘islands’ with minimal interactions both between themselves and with their neighbouring universities, it could be that hopes were pitched too high in the first place” (Felsenstein, 1994, p.108).

    28. 4. Product Development Strategies EC10 Innovation & Commercialisation

    29. 3. Legal & Technical Barriers 29 Continuous Development According to Elfving et al., (2003) ‘success in manufacturing requires continuous development and improvement of how products are developed and produced. There is a need for new methods, tools and procedures to improve product development especially due to increased complexity and amount of relations between different actors.’

    30. 3. Legal & Technical Barriers 30 Levels Problem Definition Macro Level The Market, Usage, Organisational Structure, Environment, Social, Political Meso Level Competitiveness, Education, Research, Technology Policy Micro Level Technology, Product Development, Process

    31. 3. Legal & Technical Barriers 31 The Product Life Cycle

    32. 3. Legal & Technical Barriers 32 Innovation Planning for Life Cycle Stages

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