External Advisory Boards: A Short-Term Tool for Tech Transfer (or “Not Mr. Right, but Mr. Right Now”)
I was recently asked for my insights about technology transfer office (TTO) use of external advisory boards or committees. Such boards have been frequently cited in reports and the press as a useful tool — or even a required element — for improved tech transfer operations. The thinking is that external boards provide a means to obtain objective industry/market opinions about new technologies and/or to tap into technical expertise not available within the TTO. I am all in favor of…
We’ve blogged often about how planning for technology marketing helps TTOs be more proactive and efficient in selecting innovations to market. If your TTO is like most, you have more active marketing projects than you have the resources to handle. Therefore, prioritizing (and reprioritizing) your projects is the key to developing a strategic and agile marketing process that will provide long-term value. In today’s Stories from the Field post, I share details of how to apply what we’ve learned through years of identifying high-priority projects.
Last week, a tech transfer professional at a university asked me which patent analysis tools Fuentek uses in our market-based technology assessments. Our conversation then evolved into a discussion about how we use patent mapping as well as the value patent maps provide in evaluating a technology’s commercial potential. I’d like to share with you the perspective that I shared with him. Let me begin by being crystal clear: I firmly believe that analysis tools providing visual maps of the patent landscape play a useful role in…
Ramping up to successful and cost-effective technology transfer marketing depends not only on a range of proactive research activities but also on thinking through the licensing strategy and a sound marketing plan to help you achieve your goals. The Technology Licensing Strategy A licensing strategy need not be complex or even necessarily written down (although more mature offices may track it as a field in their IP management database). Nevertheless, it is worth taking the time to explicitly think about (1) what your goals are for the technology and (2) what type of licenses and licensees you should seek to meet those goals.
Though it may be tempting to jump immediately into marketing an exciting technology that seems bound for tech transfer success, it’s important to look before you leap to ensure you’re making the best decisions about where to allocate your finite time and resources. Proactive research and planning is critical for developing marketing strategies that are efficient and cost-effective. We’ve blogged about this in our posts about the initial rapid screening and the more in-depth market-based assessment—the two steps for making informed commercialization decisions. The market-based assessment is so essential to technology transfer success that Fuentek has released a free webcast about it.
In working on technology assessments, it’s important to consider the most critical factors in order to efficiently determine the commercialization potential of your technology. After you’ve done all of your market-based assessment research, you should have a pretty good gut feeling about the commercialization potential of the technology. So to verify that your gut is right, we find that it’s often sufficient to evaluate just a few key factors in your final analysis rather than get mired down in a lengthy list.
Once the technology transfer office (TTO) knows that a technology is fit for commercialization, it’s time to ramp up for actual marketing. This involves a variety of proactive research and planning activities that are critical for successful and cost-effective marketing. Identify the Target Market Developing a roadmap for successful marketing starts with identifying exactly who your prospective licensees are. The best practice is to start by considering the value chain. Because the value chain outlines the primary players in an industry, it is an essential tool to identify target markets and prospective licensees. It can also help ensure that you don’t waste time talking to companies who may be “interested” in your technology because they may want to use it but are not in the right value chain position to license it.
As we have been getting ready for the “Stop Reacting, Start Proacting” webinar, we’ve been recalling some of our experiences over the years conducting market-based technology assessments. These experiences have taught us the importance of carefully considering the market’s view of a technology before launching into marketing. For example, Fuentek’s rapid screening of a polishing technique for optics showed potential for use in mirrors, lenses, and molds for optical components. Based on the screening, we ranked the technology’s commercialization potential as medium-high, and the client agreed it was worth moving on to the next step: a market-based technology assessment.
If you read the Fuentek blog regularly, you’re probably familiar with the technology screening webinar we launched earlier this year. Well, today we announced a new webinar that provides training on what comes next for technologies that show potential for commercialization success. The “Stop Reacting, Start Proacting: Planning for Strategic Technology Marketing” webinar helps you not only be more proactive and efficient in selecting the technologies you market but also develop the right marketing plan for each one. Planning for technology marketing is important. Once you’ve figured out whether an innovation has what it takes to make further investment in commercializing it worthwhile, then you need to…
When you conduct online market research for technology screenings or market-based technology assessments, keywords are critical to finding relevant information about the technology’s potential markets, competitors, and licensees. Fuentek has developed a free webcast to help you understand some of our keywords best practices—tips that you can use to improve your online market research.
Three Keys for Bolstering Innovation in Promotion and Tenure Decisions
The Tools You Need to Change the P&T Paradigm
Fuentek at Virtual #AUTM2021