It is obvious that Commercialization of a Technology is the process of converting ideas into business and consequentially making wealth. In developed countries this process and its functionality plays an important role in economic development. There is no doubt that universities, institutes, laboratories or research centers and innovative companies are the major sources of new technologies in which knowledge is the primary outcome, that added value should be created by it. Commercialization is the key step through which such value is created by coupling the innovation into businesses. The process of innovation commercialization will be illustrated as below .
Commercial value of idea or discovery
The Opportunity phase consists of identifying the scientific and commercial value of the discovery. The commercial value is simply defined as the market and customers who are willing to pay for your technology that meets a need, either real or perceived. Proper documentation is critical in this phase, as it will become an integral part of the protection of your innovation. Sharing your idea without proper “non-disclosures” may jeopardize the future protection of your concept. Our consulting team in “Solutia” provides any kind of help in this regard because of its professional background in market analysis.
Once an exact description of the discovery or a prototype of idea is supplied, a patent, trademark or copyright protection process should be initiated. A patent gives you the exclusive right to prevent others from making and selling your invention. Trademarks offer protection for brands, symbols, logos and colors. Copyrights protect original works of authors, composers, programmers and screenwriters.
As the protection process of innovation is taking shape, evaluate your business development goals which can be an intellectual property to be sold to an existing company, or a technology that will arise a new start-up company based on it. If you decide to sell your technology, “Solutia” can help you in this regard.
When you want to commercialize an idea or discovery, you should determine if it is truly feasible or not. Feasibility study involves a comprehensive analysis of the industry and market, creating the value proposition, and close identification of the customer, product features or even distribution plans and marketing strategy. In this stage you need assistance of professional companies to prepare documents of the business operations, policies, legal structure, marketing growth plans and financials. One of the main fields of activities of “Solutia” is to help you analyze all aspects in order to reach a finalized business plan for presentation. Furthermore, you need to be prepared to present your project to investors in the most efficient way. This is Solutia’s unrivaled ability to provide this services for costumers.
Financing or Selling innovation
It is a critical issue to secure the needed capital investment for commercializing your idea or invention. It is also needed to find investors in order to connect to some funds angles and investment companies which is the exact function of some companies like Solutia. These investors should be assured that there is the essential knowledge to execute your plan.
Solutia needs to prove to the investors that noticeable progress will be made on your commercialization plan. Ownership issues, valuation of the technology and partnership opportunities need to be considered and outlined for the investors as well.
Executing the Plan and Developing the Product/Service
Solutia’s function would be to prepare preliminaries for starting your business or executing your commercialization plan. This phase mostly includes the deal-making negotiations of selling the technology to an existing business or providing capital for a joint venture one. Solutia helps you find investors, prepare physical location to operate your business, hire personnel, physically organize your business workflow, stock supplies, and generally administrate organization. During this process, your business development plan will need to be reviewed, modified. Let Solutia support you to internationalize your idea, invention or even develop your small business.