You've been asked "what is your plan for bringing your technology to market?" Your commercialization plan should lay it out. Here are a few tips to help you bring the plan together.
Tip 1: Understand your customer's pain (it is your gain)
What problem are you solving for the customer? Many companies get caught up in the technological improvements and define their company around the product they develop. A good commercialization plan will indicate an understanding of the customer, the market and the market needs.
Tip 2: Know who you are up against
When planning your commercialization efforts, it is important to know your competition. What is your competitive advantage? Tell your customer what value you bring to the marketplace and why your solution is superior to your competitors. Also explain how you plan to stay ahead of your competition in terms of your sales and marketing strategy.
Tip 3: Know your roster and their track record
It is imperative to give the reader a solid understanding of the company and its ability to deliver. What are your organization's objectives and core competencies, and how will your team execute on both development and commercialization of your technology.
Tip 4: Guard your technology
How are you going to protect your intellectual property and how will you stay ahead of your competitors? Consider where and when you should patent your technology as well as other protective actions you may need to take.
Tip 5: Always know where the money is coming from
How are you going to financially support your commercialization plan? Clearly define your financial needs for commercialization, as well as your funding source.