1 marketing of an intangible asset with limited resources "marketing your innovations: best...
Post on 03-Jan-2016
214 Views
Preview:
TRANSCRIPT
1
Marketing of an Intangible Assetwith Limited Resources
"Marketing Your Innovations: Best Practices for Tech Transfer
Professionals"September 5, 2007
Michael J. MartinPresident
TechTransfer Associates, Inc.
2
Outline
• Marketing with Limited Resources and Multiple Jobs in a Small Office (≤ 3 FTE )
• The TTO Brand – Internal and External
• Marketing vs. Selling
• Success Stories from the Front Lines
4
Multiple Jobs: How to Prioritize•Research Agreements, MTA, CDA•Encourage and Evaluate Disclosures•IP Resource for University•Economic Development
•Manage Patent Applications•Market Disclosures•Negotiate Licenses
•Manage Licenses•Maintain Patents
Inactivate Inactivate
Administration Faculty Industry
5
How to Create a Intangible Marketing Organization
• Leverage Highly capable people that can multi-task: Be not afraid,
Many hats Wise and creative use of resources: Interns, Review
Committees, Alumni, Customer Service Surveys, Lawyers Know your priorities: Deals, Research, Disclosures Be Present in the Community
• Barriers to success– Confronting the Star– Leadership is not
Committed– Do More with Less:
Burnout
3 to 10 years; 0.5 to $20 million
ConceptGeneration
TechnologyFeasibility
ProductDevelopment
Pilot PlantScale up
InterimMfg..
CommercialOperation
Basic Research~ 10% cost
Applied Research and Development90% Cost
6
Internal Branding of TTO
• Positioning Statement: “VTIP is a full service affiliate that can leverage the commercialization of technology and help attract research funding.”– Increase disclosures by increasing
inventor recognition. – Strengthen customer service image
• reducing time from disclosure to notification of intent
• reviewing commercialization plans with faculty.
Disclosures
0
20
40
60
80
100
120
140
FY 94 FY 95 FY 96 FY 97 FY 98 FY 99 FY 00 FY 01
7
• Create Atmosphere for Invention disclosures– Remember: Not part of academic culture and Research agenda not
set by market place– Walk the halls; Get to know the stars
• Work shops about what is IP and how it supports Research/Economic Development/ Academic mission
• Receptions that recognize inventors, patent recipients, etc; but invite everyone.
• Respond quickly – 48 hr receipt, 2 – 3 months interview, 6 – 12 months plan.
Invention
Protect if Publication is Imm
inent
8
Positioning with the Faculty
Position: TTO can assist in• Career Development - Patents are dissemination• Research Development - IP is Gateway to Industry• Income Development - “Homeruns”How • Work with only 10-20% of the faculty – identify the stars
and determine their interest in commercialization. • Ask questions – not an expert in anything but IP and
business development• Offer assistance to complete disclosures
9
Lessons Learned Dealing with faculty
– Offer assistance in forming research consortia
– Offer workshops to departments, lectures to graduate and undergraduate classes; and the staffs of Deans and Directors.
– Involve the faculty in marketing and negotiating but explain there can only be one person at the table
– If interest in starting business, require that they have a business person involved with whom you will negotiate
10
Positioning with university and lab administration
• Position: TTO is the most viable expression of the outreach mission
• How – TTO could generate financial support for the
university, but manage expectations– Benchmark with best practice– COMMUNICATE! COMMUNICATE! COMMUNICATE!
11
External TTO Branding• Reposition VTIP from a reactive
property management organization to an independent, successful affiliate organization with: an industrial oriented portfolio, a targeted promotional strategy, significant licensing flexibility, and a strong entrepreneurial focus.
• The goals of this repositioning are to: – Increase income from new licenses
managed by VTIP to $400,000 by FY 1999.
– Become a “recognized” leader in University Technology Transfer.
– Be recognized as a “partner” in attracting research investment for the University.
– Increase “active” participation in economic development for the Commonwealth.
FY '97 Forecast of Licensing Income From
New Licenses
$0
$50,000
$100,000
$150,000
$200,000
$250,000
1996 1997 1998 1999
New Software
New PhysicalScience
New Life Science
12
Position of TTO with legislators and community
development agencies • Position: The TTO is a representative of the university
community that is willing and able to add economic wealth to the state/nation
• How:– Explain the difference in cultures, missions, and role each
plays in economic growth– Support matchmaking efforts with workshops and tech
transfer trade fairs.– Think about the necessary legislation and work with
appropriate representatives.
13
Position of TTO with Business
• Position: TTO is the flexible, entrepreneurial organization representing the University
• Prospective Licensees – Demonstrate an understanding of business/ product
development principles and their objectives in licensing outside technology.
– Explain the goals of the TTO/University/Lab: Dissemination and betterment of society
– Return phone calls and e-mails within 48 hours. – OPEN COMMUNICATION AND TRANSPARENCY
14
Position of TTO with Business
• Position: TTO is the flexible, entrepreneurial organization representing the University
• Prospective Research Sponsors– Share research capabilities/capacity with industry
– Set up meetings with faculty with similar interests
– Listen to business development needs.
– Do not have to give away IP.
15
• Protectability – Is there an invention?• Technical Merit – “Robust Solution” to an “Important
Problem”?• Commercial Potential – Multiple applications?• Inventor Attitude – Participate in commercialization?• Economic Development – Start-up?
DisclosureEvaluation
NO, Return to Inventor?
YES, Submit for Patenting/Marketing
Maybe, Discuss with Inventor
Marketing – Define the Product
16
• Market Research: Outside the box– Market(s) Potential– Market(s) Trends (Technical and
Business)– Market(s) Competitive Analysis
• Use Students – provide outline with expectations (preliminary decision tool)
• Use Alumni – involve beyond $• Use Faculty – Know more than they
know @ business development
Marketing/Selling
Marketing – Define the opportunity
17
• Develop single page, non-confidential description with: problem solved, benefits of solution, potential applications, and status.
• Promotions Strategy: – Determine Media to communicate
solution to market– Effective use of interns
Marketing/ Selling
Marketing – Define the Promotion Strategy
18
Selling - Develop Contacts
•Inventor network
•Business network
•Internet Listings
•Patent Citations
19
Selling - How Do We Find Each Other
• Industry and Professional Associations– Volunteer to speak– Participate as mentor, leadership positions, meeting
planning• Trade Shows
– Target both geographically and market sector– Collaborate with other outreach efforts on booth
20
How Use the Internet • Web Sites
– Two audiences: Internal and External– Make it easy to do business: Be
Transparent and easy to find. – Succinct, Interactive, Searchable– 85% use Search Engine
• E-mail– Readable Format– Excite interest (Why take action)– NO or Limited attachments (Firewalls)– Link to more information – All contact information in signature,
including phone number
21
Success Stories: Support Research - CPES
• ERC proposal – NSF requires IP plan• Negotiated MOU with 5 universities and industry
advisory board. • Developed Agreements for 2 different
membership levels• Developed IPPF – Fund and Process for
Patenting CPES inventions• NSF uses CPES as a Model
22
Success Story: Vacuum Dryer for Wood
• Simple, robust solution for critical market problem
• Post on web site then:– Market rep wants to start
business – Pacific Rim inquiry
• Option to build prototype• Have two orders if it
works
0
10
20
30
40
50
60
70
0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75
Time (h)
MC%
Drying curve for red oak part
23
Success Story: Direct Marketing with Start-up
• Initial Marketing VTIP/Atlas – Product = Beta Tested– Price = $32,000 to $16,000 to $5,000– Promotion = Newsletters, Trade Shows,
Testimonials
– Position = Another advancement from VT
– Protected Niche = Loyal to Librarian Solutions
• Now OCLC/Atlas
24
Summary - Balance of Skills for small TTO• Social – Bridge two cultures and translate benefits/needs
• Business – Work in both not for profit accounting and investment capital, product development analysis
• Science – Understand the basic underpinnings and look beyond the initial application of discovery
• Law – Understand the basics of intellectual property law and be able to read and negotiate license agreements
Dealmaker(Market/Business/Product
Developer + Sales+ Negotiator)
Technician(Patent Agent +
Scientist + Engineer)
25
Summary - Marketing v. Sales
• Position TTO as a proactive entrepreneurial agent of the university for faculty and business
• Leverage students, alumni, advisory boards, and the web
• Be Present in the Business Development Community
• Communicate! Communicate! Communicate!
26
“We need a bullheaded yet friendly individual for a highly repetitive and completely thankless job. They should be willing to take extreme pressure from both sides of a negotiation, accept terms that make no sense as political presses require, and fully accept blame for all unfavorable outcomes from such decisions. Now the salary would be commensurate with low-level administrative positions which require none of these skills. Interested?”
R. MacWright , UVAPF
Dealmaker(Market/Business/Product
Developer + Sales+ Negotiator)
Technician(Patent Agent +
Scientist + Engineer)
top related