The Commercialization Process Advisor

Innovation Comes In Many Forms

Innovation can happen anywhere in just about any thing that you can think of.  It can be formal or informal.  It can be planned or spontaneous. 

The government is now officially in the innovation business.

Reframing for Innovation

Innovation happens in many different ways.  Sometimes it is based on making minor changes to existing products and processes.  Other times it is made by taking two remotely related or totally unrelated concepts and smashing them together.

An example of this is the new transportation concepts that are being developed around the world.  GM and Segway are collaborating on a ultra-mini two seater two wheeled commuter vehicle.  Tata Motors, of India, is going a step further.  Not only are they developing an affordable commuter vehicle (priced under $2400), they are also disrupting the entire automotive manufacturing and distribution system.

This video on the Tata Nano describes this incredible automotive innovation.

7 Technology Transfer Officer Recession Beating Tips

Times are hard for everyone and most technology transfer officers know this.  They see potential invention commercialization partners face significant financial and market challenges and as a result reduce their research and innovation investment and spending. 

Here are 7 tips to help the technology transfer officer weather the recession storm:

1. Maintain a list of problems that are relevant to the research and technologies that are in your university's research pipeline.
2. Develop long term business relationships before you think you might need them for your commercialization efforts.
3. Find business mentors for your lead researchers.
4. Develop alternative commercialization strategies while you are focused on your primary strategy.
5. Reduce risks for everyone in the commercialization process - the researcher, the business partner, and the university.
6. Teach your entrepreneurial researchers and start-up teams how to bootstrap their business.
7. Partner with other technology transfer offices in basic business support, product commercialization and innovation development efforts.

Tough times require flexibility and unique solutions to problems.  These 7 simple tips can make the difference between success and failure in these challenging economic times. 

In many cases failure in technology transfer means that the university does not reap any financial rewards for its research investments.  These tips can make the difference between the technology gathering dust waiting for obsolescence and making some money for the greater good.

Innovation Secret for Small Business

A recent Forbes article highlights what many astute innovators know.  Listen to your customers and adapt your business to give them what they want and you will succeed.

Innovation is the lifeblood of growing your business and competing in this tough market.  You could compete on price, but everyone does that in a tough economy.  The successful companies compete on innovation. 

Keep your eyes open, think about your customers' pains, wants and needs and you will find some innovation secrets for your market sector.

This little secret can help even the most mature growth resistant businesses find ways to break away from the pack, gain an advantage and earn higher revenue and profits than the competition. 

Companies with Innovation Culture Survive Recessions

As our politicians continue to debate the merit, size and shape of an automotive industry bailout, companies like Better Place are innovating their way to the future.  Better Place is creating the infrastructure to support electric cars.  They are negotiating deals all over the world, but have been snubbed by our domestic automotive industry.

This, and many other forward looking companies with an innovation culture will be the business successes of the future.  By taking the innovation risks today, in a recession, when talent and supplies may actually be cheaper, they will develop the valuable new products and services of tomorrow.

The McKinsey Quarterly, a McKinsey & Company publication recently reported that many innovation investments made during the Great Depression led to some of the greatest products in our modern society.

The way is clear - make innovation a part of your business strategy.  Create an innovation culture in your business.  Recessions are part of the economic cycle.  Innovation will help insure that your business survives this recession so that it can be a part of the next economic recovery and boom.

Domestic Innovation is a New Priority

These are innovative times.  The Big 3 are on the verge of collapse if they don't receive an immediate loan.  Energy prices are plunging almost as fast and furious as they rose 6 months ago.  These and other economic crises open the door for innovation.

The incoming Obama-Biden administration plans to invest in domestic innovation and research to foster new economic opportunities.  The plan to make the research and development tax credits permanent will entice business to take more innovation risks.  These risks are where monumental innovation happens.

These policy tools are necessary if we are going to get serious about alternative energy, improved cost efficient health care and sustainable wages for our citizens.  The world is a much different place, and as always, old industries with low skill level commodity jobs that can be done anywhere do not create high wages.  Innovation and new leading edge industries and jobs will change this.

If you are an inventor - keep inventing.  If you are an entrepreneur, keep innovating and if you are a university - keep researching.  Pretty soon inventing and innovating may be seen as our patriotic duty.

Evolving Intellectual Property Leads to Public Hearings

The FTC, in its efforts to keep up with the times, will begin public hearings on December 5th, 2008.  The hearings will examine the changing Intellectual Property Market by examining:

1. Changes in intellectual property law.
2. Patent related business models.
3. New learnings from the operation of the patent system as a result of recent judicial rulings and legislative proposals.

The hearings will consider the complexities of the impact of the changes in regards to innovation, competition and the consumer.

Discussions will be help on business model innovation as well as the impact of the recent legal rulings on the value of selling or licensing a patent.

Learn from Global Entrepreneurship Week 2008

Next week the first annual Global Entrepreneurship Week 2008 starts.  It's purpose is to "inspire young people to embrace innovation, imagination and creativity".  It is sponsored by the Kauffman Foundation.  It will be held in 75 countries. 

Wow, an international forum designed to help people think more creatively so that they can make innovation a cornerstone of their entrepreneurial mindset.

Learn more about Global Entrepreneurship Week 2008 to see how it can help you learn more entrepreneur strategies for your inventions and innovations.

Campaign 2008 - Organizational Innovation at its Best

Now that the Presidential campaign is behind us we can examine some of the unique strategies and tools that both major parties used.  This election, as stated by both Barack Obama and John McCain was about change.

What was understated by both candidates was the change in their tactics and fund raising methods.  The organizational innovation employed by both parties brought us:

• on-line fund raising
• robo-calls
• grass roots campaign teams

to name a few.

Look at your business.  Innovation is not always about products and services.  Sometimes it is about reorganizing your team to be more efficient in changing times.

In today's slowing economy think about how you can reorganize your team to get optimum results at a reduced costs.  There are new tools out there that can help you with this organizational innovation. 

If you think that its impossible, just look at what happened in this historic Presidential election.