There are multiple options or paths to the market to be considered when developing the commercialization strategy for translating a technology or invention into an innovation. We present a very simple screening methodology that may be applied to facilitate a quick, but structured approach for the entrepreneur to identify which option or options may be most viable to create, deliver and capture value in potential markets. We construct the metaphors “project, product, or platform” to categorize three potential commercialization pathways to reach the market. Projects are best pursued with commercial partners via licensing arrangements. Products may be pursued using a research and development company business model. Platform is intended to signify creation and growth of a lasting, scalable organization intended to develop and bring multiple disruptive or transformative innovations to market. Which path to the marketplace is appropriate, or even possible will depend on a number of factors. These include: the magnitude of value being created for the market; the competitive set; and, the uniqueness of the solution and its sustainable, competitive advantage that can be created. It is also necessary to determine whether the value captured by the business model that may be constructed could generate sufficient profitability to balance the commercialization risks, while meeting the goals and objectives of the founders, investors and partners over an appropriate time line.
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).