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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
Technology Commercialization.
Krakow 09 September 2012
Edward Scott
ES Technology Limited
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ES Technology Limited
Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
Technology Commercialization
•Technology - The making, modification, usage, and knowledge of tools, machines and techniques, in order to solve a problem, improve a preexisting solution to a problem and achieve a goal.
•Commercialization - The process or cycle of introducing a new product or production method into the market
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
The process of introducing a new product or system into the market using new or improved techniques or tools.
Technology Commercialization
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
The Roadmap to Success
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
The Roadmap to Success
1. Research and Identify the market
2. Find and understand your customers
3. Invent and innovate
4. Protect - patents, trade marks, know how, etc
5. Build a business - Commercialize
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
1.Research and Identify the market
• Diversions
• Traps
• Pitfalls
LEARN THE EASY WAY
ES Technology Limited
• Avoid learning the hard way
• Be realistic
• More than a year
• Cost millions of dollars
• Avoid trial and error
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
• What don't you know?
• What do you wish you knew then?
• Most don't realize how difficult it is
• Most don't understand how long it will take
Research and Identify the market
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
The process is long, large, expensive, and complex
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
• First to have the idea
• Opportunity to profit
Are you first?
“A hole in the market does not equal an opportunity in the market”
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
“Others may have tried and died so avoid the same fate”
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
Talk to your peers in the industry
• It may have been tried before
• Past failure may not mean your failure
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
The Best 1st Dollar you can spend
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
The Best 1st Dollar you can spend
Sound competent advice
• Patent submissions
• Invention promotion
• Advertising that they don’t need or understand
• Unnecessary inventory
ES Technology Limited
• Do it right
• Competent advice
• Ask for references
• Interview
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
Holistic approach to technology commercialization
• Manufacturability
• Economics
• Marketing
• Use by customer
• Market size & growth rate
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
Good ideas - Bad Products
• Not viable manufacturing techniques
• Expensive
• Apprehensive market
• Ahead of its time
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
“The advantage your product has over your competitors”
Competitive advantage
• What is it ?
• Don`t focus on the attributes alone
• Dominate your competitors
• Research the market
• Do your homework - be prepared
• Understand the rules
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
“Is there a need for my invention - NO”
Consumer need versus market demand
• Market need
• Market demand
• Difference between need and demand
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
Q - Why would someone buy something they did not need?
A - Because they wanted it
Q - Do you know someone who bought something they did not want?
A - Of course not
Market - Need Versus Want
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
I need a carI want a Ferrari
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
ES Technology Limited
How can there be a need for a product but no demand for it?
If the market is not even aware that the new technology exists.
Question
Answer
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
The “what if” scenario
• Should I tell anyone?
• Should I tell everyone?
• What if no one believes me?
“A market need for a technology exists on its own merit.
A market demand for a technology must be created”
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
Ingredients for success
• Find out what your customers want
• Offer it to them
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
• Find great customers
• Do your research
• Don`t sell to anyone who says the will buy
• Your customers can kill your business
✴ Unreasonable
✴ Habit of non payment
✴ Never know what they want
✴ Too big for you
✴ Push for lower price
✴ Reverse engineer your product
✴ Go into competition against you
2.Find & understand your customers
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
Sustaining your business
What to do next?
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
• Customers are restless
• Customer want more but want to pay less
Staying ahead of your competition
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
3. Innovation
ES Technology Limited
Innovation is the creation of better or more effective products, processes, services and technologies
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
Why Innovate ?
• Without innovation - your business has no future
• The ultimate goal of innovation is to create value in the minds of your customers – whether this is business to business, directly to the end users or consumers.
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
• Patents do not = protection = good business
• Should I patent?
• Only 2% of patent holders make money from their inventions - USPTO 2010
• 50 granted patents only 1 makes money
• 98% fail to make money on their invention
4. Protection
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
Turning a new technology into a dominant business
• Find the IP - The Funnel process
• The Commercialization Process
• The Market
5. Build your business
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
Successful Technology Commercialization
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
The Key to success
A Great technology does not = a Great company
ES Technology Limited
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Edward Scott - ES Technology Limited - 12 Steed Road Waitakere - Auckland - New Zealand - +6421661290
“Success is the result of unrelenting Persistence and unbounded optimism”
Thank You!
References:- S.Overhault
ES Technology Limited
Edward ScottES Technology Limited12 Steed Road,Waitakere, AucklandNew Zealand
+6421661290