Transcript Hvordan får man en god forretningsidé?

Research-based innovation
Overview
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Research-based innovation and Disruptive technologies
Commercialization of research-based innovation
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Sales integrated with development
R&D funding
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Process
Organization
Initial funding
Patents
Sell your prototypes!
National innovation capital
National R&D capital
European research framework programs
US-based research funding
Venture capital
Use-case 1: Birdstep Technology
Use-case 2: Nunatak AS and how we work to commercialize researchbased innovation
Research-based innovation should
look for Disruptive technologies
• Research looks ahead – easier to identify a technology shift
• Significant time/technology advantage is needed to establish
new markets with new technology
• Research-based innovation is not traditional academic research
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New skills are required (sales, marketing, VC, ...)
Patenting before publication sometimes with IPR sharing
Prototyping
Product packaging
Companies as the nucleus for innovation and research
• Examples of Distruptive technologies in the ICT sector:
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HyperText Transfer Protocol (web)
Peer-to-peer technology (e.g. Napster ...)
IP as Telecom core technology
WLAN and other unlicenced radio technologies
Mobility
Security
Open Standards (e.g IETF, Java, ...)
Open Source (e.g. Linux)
Business idea development
Classical error 1
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Too high focus on
own technology /
ideas – forget
customer
requirements and
needs
1. Select area
2. Study the customers
3. How to create value for the
customer
4. Constrain the market / get focus
5. Understand competition
6. Business plan
Business idea requirements
Start with comparative
intellectual and product
advantage
E.g. Business, market or
technology knowledge
Spend time
understanding the
customers and their
business
Establishment and
understanding of
comparative advantages
Studies
Work experience
Prototypes
=> Ideas
Meet potential customers
Demo
Targeted seminars
Undersand customer business process
Understanding of value for customer,
your ”Value Proposition”
Better performance
Lower cost
Simpler
Own IPR
=> Good understanding of your position
What is a good business idea?
• A new technology is not a business idea
• The word “business idea” contains nothing about
technology or product.
• An idea about a business, a market
• Example:
– To deliver a better method for securing data to customers that
need security, and agrees that the new method gives a substantial
improvement to same cost without replacing existing infrastructure
is a business idea.
Process for realizing business idea
Classical error 2 Spend all resources
to raise funding
Clasiscal error 3 IPR not protected
Classical error 4 –
Wait for the
breakthrough
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Business plan
Financing
Focused development
IPR protection
Sale of prototype
Improvements
Sell projects with product
Improve product
Sell standard product
The startup enterprise as foundation for
research based innovation
Resources:
University education
IPR ownership, supporting R&D,
Knowledge ”production”, students
Financing
Supporting
Research
Competition
analysis
Idea
Patent
The startup enterprise as
tool for research-based innovation
Product
packaging
First
sales
Prototype
Markedsføring
Market
studies
Patent
Improvements
National
R&D funding
National
Startup
Funding
Repeated
sales
Products and
Revenue
Projects
Commercialization
EU
R&D funding
Partners
Customer
installation
Startup funding environment
National
Startup capital
SND IFU/OFU, Etablererstipend,
oppfinnerstipend,
SkatteFUNN, etc.
Startup
company
Customer
e.g. 4G operator
R&D
University
Partners
National
Research
funding
Competitors
End users
Venture
Capital
R&D
units
Dissemination
Journals,
Conferences
Partners
Competitors
R&D
units
Startup funding environment
National
Startup capital
SND IFU/OFU, Etablererstipend,
SkatteFUNN, etc.
Startup
company
Cost
Squeeze
+ R&D support
- Low
income potential
R&D
Customer
- IPR sharing
e.g. 4G operator
+ Capital
+ International network
- Anti-dillution clauses
- Venture
Options
- Controlling
position
Capital
+ Supporting research
- No income
University
- IPR sharing
National
Research
+ Supporting research
funding
+ International network
Comp-etitors
Admin overhead
R&D
units
- IPR sharing
Partners
End users
Partners
Competitors
R&D
units
Dissemination
Journals,
Conferences
The long run to steady state
Startup euphoria
Customer see sufficient demand
for the solution, places volume order
Sales cycle is
longer than expected
Motivation
Solution approved,
customer delays
purchase
First contract
Expensive sales
Challenge
”Industry Angels”
”Friends&Family” or national startup capital
Year 1
Venture Capital
Round 1
Year 2
Venture Capital
Round 2
Year 3
Time
The entrepreneur should be in focus
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Many actors would like control and influence national startup capital
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Critical check: Is the entrepreneur commercially oriented?
Protect and support the entrepreneur
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Research parks (Real Estate, FORNY, SIVA)
Universities (base funding, NFR, EU)
Venture Capitalists (EFFEKT, Argentum, ...)
Research institutions (NFR, EU, consultant business)
Existing industries (Existing cashflow, SkatteFUNN, ..)
Political goals (e.g. SkatteFUNN to reach OECD targets)
Knowledge (Entrepreneurship as an academic study)
Grants (e.g. Commercial post-doc grant)
IPR (patents, designs, source code, prototypes, documentation)
Startup services (office, administration, legal, etc)
Supporting research from University and R&D institutions
National startup funding projects
National and EU research funding
Use people in the network as advisors, but never attach people that also control the
national startup funding, to avoid double loyalties
Commercial focus from day one:
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Sell your own services and products
Sell your prototypes
Commercialization competency within the company, cannot be outsourced!