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Food & Drink Innovation Network Creating an Intrinsically Innovative Company Emma Hughes Managing Director, yet2.com PowerPoint Presentation
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Food & Drink Innovation Network Creating an Intrinsically Innovative Company Emma Hughes Managing Director, yet2.com

Food & Drink Innovation Network Creating an Intrinsically Innovative Company Emma Hughes Managing Director, yet2.com

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Food & Drink Innovation Network Creating an Intrinsically Innovative Company Emma Hughes Managing Director, yet2.com

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  1. Food & Drink Innovation Network Creating an Intrinsically Innovative Company Emma Hughes Managing Director, yet2.com Europe Ltd

  2. yet2.com – open innovation, technology transfer and patent trading company. 10 years of experience in supporting companies develop their business through Technology Transfer and IP transactions. Yet2.com bridges the gap between industry needs and sources of innovative technology. Trusted advisors and experts. Global cross industry and relationship based network. Yet2.com offices in US (Boston), Europe (UK, Liverpool) & Asia (Japan, Tokyo) Expert Hands on Professional Services & Proven Experience in :- Technology and Technology Needs Identification / Prioritization Technology Scouting, Acquisition & Open Innovation Strategy Technology Licensing Patent Trading  yet2.com Inc, 2009 Page 2

  3. Example Members Advisory Board inc: AGFA, Avery Dennison, Bayer, DSM, DuPont, Philips, P&G, Takeda  yet2.com Inc, 2009 Page 3

  4. Open Innovation - Internal & External Activities Chesborough - well known but what does it actually mean for your company?

  5. Implementing an Innovative Culture: Getting Started • Define what innovation means for your company. Question perceptions of “open” innovation internally • Various organization structures & funding, internal v external, central scouts v integrated within BU. Inherent tension • Creating an intrinsically innovative culture needs to be strategic across all levels (top management, project and individual) • Requires mid and long term innovation initiatives - Review IP strategy • Requires committed finances and resources • Look at internal, existing processes AND external scouting activities  yet2.com Inc, 2009 Page 5

  6. Open Innovation Company Challenges Trying to change company culture is an ongoing & common problem The right resource and a budget is required Reallocation of budget for external collaborations Easier to spend internal resource than cash outside Who evaluates? IP issues –contamination, NDA’s Lack of modern communication media – next generation has different view to openness (its not everything!) Defining the real needs of the company – needs clarity What solutions are internal, When in the process do you look externally How do you articulate the real problem What tools and when!

  7. Open Innovation Requirements

  8. External Technology Acquisition Program External Innovation - building on existing capabilities & competencies within the company. WFGM Practice:- Identifying Needs/Articulating/Prioritizing Tools, Sourcing & Marketing Screening / Engaging/ Closing deals Implementing / Integrating

  9. Process Example- Techneed Identification Guided Techneed discussion session Involve R&D and Marketing/Business professionals. In house OI or technology leaders eg Dupont or external consultants Data Collection: Need-Prioritizing Tool produces a collection of technology needs in template format, create tangible inventory. Build corporate innovation support network and illustrate potential of external tech acquisition internally Acquisition Option Recommendations: Place technology needs into action-oriented groups through Triage process, using proprietary methodology. Understand what should be solved internally, sourced externally, needs partnering Prioritization Small-group ‘Triage’ to set priorities that will most impact key business drivers Team consensus to BU leadership decision makers Ensure strategic direction – what links to company competency and strategy, understand business strategy

  10. Considerations for Technology Needs Financial Impact Benefit of solving the need Size of affected revenue streams Cost/Effort to Implement Internal Capabilities available to develop v implement • Urgency • Current Status of impacted products • Risks of not solving • External Development Factors • Known solutions • Known IP Positions • Uniqueness of solution(s)

  11. Improved Need#1 Best Dispose Alternative Replace Replacement Radiate Natural Eliminate Best (other) Eliminate Dev BU1 Formed BU2 BU3 BU4 BU5 Packaging Need#16 Need#24 Need#33 Technology Needs Prioritized Highest rated Needs for both Urgency and Financial Impact, across 4 BUs. ‘Apples to apples’ comparison – enabling prioritizing across the company

  12. Internal v External New technology or existing solution in another area, start up business or established partner. Research Tools • Patent mining, publications, company news, research papers etc Internal Sourcing Tools • Customers, suppliers, business partners, lab networks, internal experts External Sourcing Tools • Brokers, consultants, technical experts, online networks

  13. Why use an innovation broker? Unique insight in to cross industry open innovation best practices How are other companies organising for Open Innovation What is required internally before working externally What skills & resources are required What processes and tools are available (ID, prioritizing, articulating) Experienced practitioners with diverse cultural and industrial sector collaboration experience Network beyond your own Real Market Knowledge of who has what Deal experience – what works what doesn’t

  14. How an innovation broker can help. Implementing a strategy and process (review best practice) Gathering & understanding of what you need - external perspective & tools Articulating that need to the outside world - confidential description Marketing to a broad network –networks beyond your own Scouting & evaluating external solutions – key questions Increasing speed to engagement - existing relationships Understanding expectations and differences across diverse companies Flexible & entrepreneurial deal facilitators – understands nuances

  15. Technology Need – Retain anonymity

  16. Why use other networks & brokers? • OTHER NETWORKs: • Regional and subject expertise beyond comfort zone • Geographically broad • Solutions from other industries • Direct access to a large population of SMEs • Broad reach to universities/research institutions • Connect through private equity • Network of affiliated brokers • YOUR NETWORK: • Suppliers • Select university relationships • Conferences/trade shows • Industry journals Quality & Diversity of the networks that is important. A constant stream of good ideas relies on forming great external connections

  17. Key value add of Innovation Brokers Connectivity Deep reach into corporate technical staffs – not just size of network but diversity and relationships Access to key gatekeepers (tech transfer & tech acquisition) Relationships with venture capital and SMEs Confidentiality Opportunity screening and initial discussions Protect client name and application Expertise Support best practice and upfront preparation Evaluation and communication methods Market and buy-side knowledge Business formation and commercialization skills External perspective Unbiased evaluation and critical thinking Understand nuances between different types organisations Flexible in what a deal looks like

  18. Company Best Practices – intrinsically innovative Look at defensive use of Open Innovation – don’t get to end of a project and find you’re already in competition with someone else Change IP strategy to support open innovation Peer reviews – integrate alumni of the company Not just about looking outside – develop existing suppliers and educate sourcing resource Implement a process to identify and review (WFGM) Incorporate internal and externally sourced technology within projects – reward both Use new innovative and varied communication media to engage all the organisation

  19. Thank – you For further details please contact: ehughes@yet2.com 0151 705 3540

  20. Appendix  yet2.com Inc, 2009 Page 20

  21. Yet2.com….Experts in Bringing all the Pieces Together Global Market Knowledge Technology/IP Yet2.com People& Experience Capital

  22. yet2.com links Ganeden BioTech to DSM HIGHLIGHTS SINCE TRANSACTION HIGHLIGHTS SINCE TRANSACTION • Ganeden products were featured on Oprah Winfrey’s syndicated radio program in November (as a result of an introduction from rede4). • DSM evaluating possible future partnering with Ganeden for the development of specific applications  yet2.com Inc, 2009 Page 22

  23. Yet2.com links ElectroPetroleum to Customers and Raises $10 Million ElectroPetroleum (EPI) developed a technology to extract heavy oil. 2/3 of the world’s oil supplies are heavy oil, so this technology has broad implications. The technology uses 1,000 watts of DC electricity to heat the oil and ‘cold crack’ it. The technology competes favorably with steam and an AC technology. Field tests showed a 10 times improvement in oil output per well at a cost of $4 per barrel. October 2007 - EPI retained yet2.com to find partners and capital. July 2008 - Yet2.com got 3 term sheets for investment and closed a $10 million round from DFJ Element. Yet2.com also sourced the first customer, Deloro, who gave EPI 10% of a 63 million barrel field.  yet2.com Inc, 2008  yet2.com Inc, 2009 Page 23 Page 23

  24. IP-based Spin-out: NaturNorth auction And, a Library of ~1000 Derivatives Outer bark + unique chemistries yield pure Betulin  yet2.com Inc, 2009 Page 24

  25. Yet2.com links Axela Biosensors Inc. and Kimberly-Clark on biosensors deal January 11, 2006 – Axela Biosensors has completed a significant exclusive in-licensing agreement with Kimberly-Clark. The agreement includes exclusive rights to approximately 150 world-wide patents and applications, as well as transfer of significant immunodiagnostics assay technology. As part of the agreement, K-C will be acquiring an equity interest in Axela. “These technologies are are a significant contribution towards our execution of product offerings in the diagnostic market, including our Diffractive Optics Technology (DOT™) products planned for product launch in 2006” said Rocky Ganske, CEO, Axela Biosensors. August 2006: Axela launches new real-time analytical device (8 months from deal).  yet2.com Inc, 2009 Page 25