Moving Technologies from Lab To Market

Abstract

OVERVIEW:Product champions need more than enthusiasm and foresight if they are to accomplish their self-appointed mission—they must be able to steer their product idea across the “Valley of Death” that separates discovery from commercialization. This requires the champion to successfully accomplish a series of discrete activities: recognize that his/her idea or research actually has commercial value, manifest the discovery as a product, communicate its potential through a compelling business case, acquire the resources necessary to realize that potential, use those resources to reduce risk, seek approval for formal development, and translate the project into the approval criteria. Following this, the champion must make his influence felt during the formal project approval stage and in the (hopefully) final development and launch. Carrying out these activities requires special skills, from influence tactics to business case writing.