Technology commercialisation requires the cooperation of multi-functional teams independent of the type of innovation, whether for additional products, substitute technologies or new-to-the-world technologies.
Additional products in existing markets
Even in cases of introducing a standard new product to an existing market, there will be product marketing, channel strategy, business model, industrial strategy and make-buy decisions. We provide a comprehensive framework for these decisions.
Substitute technologies in existing markets
Substitute technologies face different challenges. The biggest of these is the question of having to compete with an incumbent technology that is itself improving year on year, creating a moving performance target. The second challenge is how to move from the first sale in a niche market through to the scale necessary to compete in mass markets.
Flexible commercialisation and industrialisation plans and potential partnerships with larger scale providers can often be the key. Understanding that the business model and management team may need to change as the business matures and moves to scale is also critical.
For cases of new-to-the-world technologies, the problem is tougher. Often industry partnerships are required to drive forward a whole ecosystem of materials, IP, semiconductor and equipment players.
In these cases, a company can prioritise moving its own technology forward on their own or moving forward the goals of a larger ecosystem. The economic advantages of monopolies or oligopolies, especially in the display and semiconductor markets, provide massive incentives for players to go-it-alone. However, collaboration of several leading players is often required before process, equipment and materials standards can be set. Enlarging the whole pie for all players in the end is often still the most value creating route, even when that pie needs to be divided up. Constructing deals and ecosystems that balance near term and longer term value delivery and appropriately divide up value is important.