Abstract â€“ The robotics industry is achieving a level of commercial maturity as evidenced by innovative products brought to market, and by the increasing pace of emerging robotics companies being acquired by larger players in a diversity of industries. However, there are challenges with accelerating the rate and scale of innovation in this industry. Our hypothesis is that while there are remaining technological challenges, the largest challenge is for the industry to adapt by exploitation of business models that focus more intently on validating product/market fit, building teams to span seamlessly from laboratory to market, and on developing creative structure and vehicles to provide the needed resources to commercialize.Â To this end, we suggest that the robotics field could adapt approaches from the emerging â€œbusiness model playbookâ€ that are now being used in the field of biotechnology.Â These industries do compare somewhat in that they are each technologically driven, have long, high- risk development cycles, and have the need for high levels of capital, compared to the software industry.Â In this paper we review what has been accomplished in biotechnology, and also suggest how these lessons could be implemented in the field of robotics.Â
Morris, Robert, â€œThe Greatest Myth About the Robotics Industryâ€, IEEE Spectrum, January 2014. http://spectrum.ieee.org/automaton/robotics/industrial-robots/the-greatest-myth-about-the-robotics-industry. Also available on request: â€œRobotics Capital Efficiency (and it is) Compared to Biotechnologyâ€. A private communication developed by Morris with participation by Professors Richard C. Green and Michael Ewens in an Independent Study undertaken at the Tepper School of Business at Carnegie Mellon University (2013).
Markhoff, John, â€œGoogle Puts Money on Robots, Using the Man Behind Androidâ€, New York Times, December 4, 2013
Nourbakhsh, Illya, â€œRobot Futuresâ€, MIT Press (2013)
Kurzweil, Ray, â€œThe Singularity if Near: When Humans Transcend Biologyâ€, Viking Books (2005)
Pisano, Gary P., â€œScience Business: The Promise, The Reality, and the Future of Biotechâ€, Harvard Business School Press (2006)
Boni, Arthur A. and Weingart, Laurie, â€œBuilding Teams in Entrepreneurial Companiesâ€, J. Commercial Biotechnology, 18, 31-37 (2012).
Boni, Arthur A. â€œA Business Perspective on IP: Open Innovation vs. Open Sourceâ€, J. Commercial Biotechnology, 19, 55-59 (2013)
Boni, Arthur A., Weingart, Laurie, and Todorova, Gergana, Chapter 7, â€œBuilding, Managing, and Motivating Great Teamsâ€, published in Biotechnology Entrepreneurship â€“ Starting, Managing, and Leading Biotech Companies, Edited by Craig Shimasaki, Elsevier (2014).
Third Rock Ventures: http://thirdrockventures.com
PureTech Ventures and Enlight Biosciences: www.puretechventures.com; www.enlightbio.com
Shimasaki, Craig, Biotechnology Entrepreneurship â€“ Starting, Managing and Leading Biotech Companies, Elsevier (2014)
Uâ€™Prichard, David C. â€œNew Paradigms in drug R&D: A personal perspectiveâ€, J. Commercial Biotechnology, 18, 5-12 (2012). Volume 18, edited by Arthur A. Boni and Steven M. Sammut and available on Amazon.com.
Unless specified by prior arrangement, the author agrees to the following terms and assurances:
- For myself and on behalf of the other authors listed on this work, I assign to thinkBiotech LLC the copyright* in the contribution for the full term throughout the world.
- I/we further give to the following assurances
- I am the sole author of the contribution, or, if not, I have the written authority of the other authors to transfer the copyright* to thinkBiotech LLC and give these warranties;
- I and (where appropriate) the other authors are entitled to transfer the copyright to thinkBiotech LLC and no one else would be entitled to prevent us from publishing the contribution;
- To the best of my/our knowledge, all the facts in the contribution are true and accurate;
- The content of the contribution is entirely original to me (and where appropriate to the other authors) or, if not, the written permission of the owner of the copyright in any material copied from elsewhere has been obtained for all media (all such permissions to be attached to the contribution as supplementary files);
- Nothing in the contribution is obscene or libellous;
- Nothing in the contribution infringes any duty of confidentiality which I/or the other authors may owe to anyone else.
- I and/or the other authors have obtained the appropriate clearances from my/our employer(s) or other concerned institution(s).