Commercializing R&D outcomes

➢ Commercialization is the process by which a new product or service is introduced into the general
market.
➢ Commercialization is broken into phases, from the initial introduction of the product through its
mass production and adoption.
➢ It takes into account the production, distribution, marketing, sales and customer support required
to achieve commercial success.
➢ As a strategy, commercialization requires that a business develop a marketing plan, determine
how the product will be supplied to the market and anticipate barriers to success.

Benefits of Commercialization
➢ Commercialization of research provides new products and services that can be
used to solve some of life’s most pressing problems, as well as making
incremental improvements to the quality of life for consumers and business
effectiveness across a wide variety of domains.

Societal Benefit
Spanning across areas such as healthcare, environmental, wellness, fitness, education,
industrial applications, and simply, day-to-day life, innovations resulting from
university research are most impactful when they are in the hands of those who can
benefit from them most.

Economic Growth
Taking innovations to market through commercialization also provides an economic
benefit. Whether it be through the licensing of technology to other companies or
through the development of new startup companies, commercialization provides new
revenue generation and job creation locally, regionally and potential across the globe.

Industry Partnerships
Commercialization provides an opportunity to engage with industry partners,
investors and other businesses. These partnerships can result in additional funding
sources to further University research. Oftentimes, the University can serve as
supplemental R&D resources to industry partners who serve as a conduit for
translating research to the broader market. In addition, the University can generate
revenue that can be reinvested into research, cover commercialization related costs
and fund the pursuit of entrepreneurship.
Recruitment and Retention
The successful commercialization of innovations results in positive publicity and also
generates awareness of the research, inventions and the entrepreneurial culture of
the University. These successes and publicity can help to retain and attract both faculty
and students, as well as additional research and commercial partners.

Entrepreneurship
By having a focus on entrepreneurship and commercialization, both faculty and staff
can get exposure to the business community which can be beneficial in multiple ways.
Bridging academia and industry can result in increased knowledge of the business
sector, career development opportunities and investor relations.

➢ Commercialization can take several shapes – from licensing a technology to an

established company or entrepreneur to creating a startup company from the
ground up.
Yassine ABOUKIR

The best way to

predict the future
is to create it.

Peter Drucker
Are they Magicians, extraordinary people ?
Super entrepreneurs maybe ?
 What is Entrepreneurship ?

Why choosing to become an Entrepreneur ?

Plan
What would be the first steps into Entrepreneurship ?

Why most Entrepreneurs fail in business ?

 What is Entrepreneurship ?

The capacity and willingness to

develop, organize and manage a
business venture along with any
of its risks in order to make a
profit.
 Why choosing to become an Entrepreneur ?

Money Impact Experience

27% 5%

68%

Source : The Startup Genome report May 28th 2011

Why choosing to become an Entrepreneur ?

Recognition Gain
Impact the
of a need personal
lives
fulfillment

Create job
You Get to Make a
opportuniti
Be the Boss profit
es
First steps into entrepreneurship
First steps into entrepreneurship
First steps into entrepreneurship
First steps into entrepreneurship

Angel investor
First steps into entrepreneurship
 Why most entrepreneurs FAIL ?
Seeking
Money
before
Adding Value

Poor Money Low Business

Management IQ

Lack of Fear of
Vision failure
Presented by
Aglaia
 Entrepreneurship
 It is a vital activity to bring about changes in the economy and
society not only in a country but also of those in the world.
 It causes initiation of all types of human activities in the society.
 It is the process of creating something new with value by
devoting the necessary time and effort, assuming the
accompanying financial, psychic and social risks and receiving the
resulting rewards of monetary and personal satisfaction and
independence.”
 Even though it is a risk hearing activity, It gives financial rewards
,freedom and personal satisfaction .
 It affects all aspects of political-legal, sociocultural, technological,
economic and demographical environment of life and society.
Entrepreneurship is the pioneering force that connects the world
societies with its activity of exchange from the early period of
our human history.
 It is a basic strength of the business organizations too. The
provocation of change toward future business prosperity is the
result of the entrepreneurial zeal of the people. Therefore
entrepreneurship is a basic discipline to learn for the student of
business.
How Entrepreneurship is an Innovation Process

 Entrepreneurship is an innovation process.

 It foresees the potentially profitable opportunity and tries to
exploit it in a new and better way.
 Wilken (1979) summaries a list of innovative activities
entrepreneurship does. They are;
Initial expansion- Original production of goods.
Subsequent expansion- Subsequent change in the number of
goods produced.
Factor innovation- Increase in supply or productivity of factors.
• Financial- Procurement of capital from a new source
• Labor- Procurement of labor from a new source
• Material- Procurement of old material from a new source
Production innovations- Changes in the production process.
• Technological- Use of new production technique
• Organizational- Change of form or structure
Market innovations- Changes in the size or composition of the
market a Product.
• Production of new goods
• Market- Discovery of a new marker.
Types of Entrepreneurship
Administrative Entrepreneurship
 It is centered around administrative techniques and functions.
 It gives a new option to handle prevailing or future situations in a
more effective way that provides advantages and competitive
edge.
 The old age pension scheme is such administrative
entrepreneurship of the government of Bangladesh.
Opportunistic entrepreneurs are the entrepreneurs who see a chance to get advantage of the situation. the person who find an opportunity to convert a
situational idea into a business model, that person is known as an opportunistic entrepreneur. The best example of opportunistic entrepreneur is “Jeff
Bezos” founder of Amazon. He understood the situation that people don’t want to go somewhere to buy something, they would prefer to get it on their

Opportunistic entrepreneurship
place.

 It is the best exhibit of the characteristic of this category of

entrepreneurship.
 Environmental changes always offer new opportunities. But everybody
is not equally capable of identifying and to utilize that opportunity on
time.
 The entrepreneurship that identifies, exploits and executes the
opportunity in the first hand regarded as opportunistic
entrepreneurship.
Entrepreneurship through Acquisition (ETA) is the path to becoming an entrepreneur by buying and growing an
established small business. For individuals with business skills and a desire to make a meaningful impact, this can
be less risky than starting a new business around an unproven product or service.
Acquisitive entrepreneurship
 The entrepreneurship that learns from other competencies is
acquisitive entrepreneurship.
 It acquires something new of value front, the competitive
environment or achieves the competitors’ technical
capacities.
 It keeps entrepreneurship sustainable in a competitive
environment.
 The failure never restraints them from acquisition but
motivates them further to discover such a thing with a new
visitor.
 Incubative entrepreneurship
 It generates and nurses new ideas and ventures within the
organization.
 It executes them in a productive manner and ensures material
gain for the organization.
 They pursue and help to get differentiated technologies to
promote creations and innovations Microsoft, Nokia, etc. always
incubates new varieties types of product and creates product
differentiation in the market.
 Imitative entrepreneurship
The imitative entrepreneurs will do business of an existing product in any other country. Example: Walton BD. has introduced its
motorbikes, refrigerators, televisions and other electronic appliances in Bangladesh not being the original inventor of those
products.

 It imitates a good or service operating in

the market under a franchise agreement.
 It is the medium that spread technology
over the world.
 It adopts an existing technology in
countries over the world.
 It also adopts an existing technology with
minor modification appropriate to the local
condition.
 Private Entrepreneurship
When an individual or group of individuals start a business, takes risks and initiates innovations in the private sector,
it is called private entrepreneurship. The main object of such entrepreneurs is the earn profits.

 It is initiated under private sector is private entrepreneurship.

 The government gives various support services through private
and public concerns that encourage private initiative in taking
entrepreneurial ventures.
 A layer and mutual relationship between private and public
sectors would make economic development speedy and
balanced.
Public entrepreneurship is the process of introducing innovation, the generation and implementation of new ideas,
in the public sector.

Public entrepreneurship
 It is undertaken by the government through its various
development agencies is public entrepreneurship.
 All countries, developed or underdeveloped, take a public
initiative in venture ideas to fulfill the initial deficiency of
private entrepreneurs.
 Individual entrepreneurship
 It is undertaken by an individual or a family with personal
initiative is individual entrepreneurship.

Personal entrepreneurship is carried out by one individual independently on the basis of property owned by him on
the right of ownership, and also by virtue of another right permitting the use and (or) disposal of property.
Mass entrepreneurship” refers to the millions of ordinary local businesses that typically hire five or more people, use
local inputs and serve local needs in every community. These range from a beauty salon or a food caterer to a

Mass Entrepreneurship
motorbike repair shop or artisan collective

 This type of entrepreneurship emerges in an economy where a

favorable climate of motivation and encouragement exist for
developing a wide range of entrepreneurship among general
mass is mass entrepreneurship.
 It increases small and medium enterprises in a country.
 Type of risk for a entrepreneur

 Abandoning the steady pay check; Process of saying goodbye to

your current job, and in some cases, your career.
 Relying on cash flow; There will be struggle with the day-to-day
necessities if your revenue doesn’t match or exceed your costs in
a timely manner.
 Estimating popular interest; It is difficult to estimate popular
interest in your business with perfect accuracy.
 Trusting a key employee; They have to put an overwhelming
amount of trust in employees, especially if they have special
skills that are hard to find.
 Betting on a crucial deadline; They are forced to make multiple goals
contingent on a handful of deadlines, and those deadlines become
absolutely critical
 Sacrificing personal capital; Some entrepreneurs are able to start
their ventures relying solely on external funding like investor
contributions, government grants and loans, and results from crowd
funding campaigns.
 Essential Entrepreneurial Traits
 Successful Risk Manager: Risk isn't always about money. Successful
entrepreneurs often devote 110 percent of their selves and their
resources, time and money included.
 Is Passionate and Motivated: Enthusiasm at the start of a project is
easy. Maintaining that momentum after the honeymoon phase is
crucial.
 Has Great Organizational Skills: From the original idea through to a
successful business, every aspect along the way is your responsibility
as an entrepreneur.
 Is Well-Connected: Your networking skills are top-notch, since success
always has who-you-know elements. If you don't know these key
players now, you will down the road.
 Is Able to Improvise: Every great plan runs into Murphy's Law, roadblocks and
unforeseen opportunities. The great entrepreneur rolls with these, with great
instincts about when to change lanes and when to stay the course.
 Is Confident: confidence is essential against your own self-doubt.
 Is Disciplined and Hard-Working: No one gets into entrepreneurship because of the
easy work and short hours.
 Is Knowledgeable: It's rare that a novice can succeed in a crowded playing field, so
unless your business is unique, you're competing against the best, and to succeed,
you need to be on their level.
 Is Self-Analytical: Being honest with yourself about your capabilities.
 Is Able to Refocus: Business failures are arguably higher in the entrepreneurial field
than anywhere. Successful entrepreneurs know when to stick with it and when to
redirect their efforts.
 Thank you
For more…. Mail to [email protected]
 SCOPE OF R&D in ORGANIZATION
➢ The scope of a study explains the extent to which the research area will be explored in
the work and specifies the parameters within the study will be operating. Basically, this
means that you will have to define what the study is going to cover and what it is focusing
on.
➢ The name, research and development, may suggest high-tech, or the pharmaceutical
sector, but in fact R&D is applicable to a wide range of industries. For example, many
consumer appliances will go through rigorous R&D processes, either to develop new
versions of products or improve current designs.
New Product Research and Development

➢ It is unwise to bring a new product to market without first coming up with solid data
to support it. This research typically involves conducting a careful, detailed study to
support the project – whether there is a need for it, and how to ensure it is something
customers will want to use.
➢ The research study must also determine the specifications of the product, the
projected costs of its production, and the time it will take to produce.
➢ The research function prepares the way for new product development.
➢ New product development is based on the concepts and requirements coming out of
the research phase of a project. This often involves prototyping, to see how a working
model of the product performs before going into full production.
➢ A crucial part of the development phase is ensuring a new product will meet
guidelines and any statutory requirements.
Updating Existing Products
➢ Within the scope of Research and Development is the evaluation of existing products to
ensure they will still function effectively in the marketplace. The R&D department may
consider the potential for product upgrades or changes.
➢ There may be problems arising with current products which the R&D department is then
tasked to solve. This might involve changes to the manufacturing process.
➢ Another aspect of this role of the R and D department is quality control. Here the
research and development team may perform regular quality checks on products, based
on the department’s depth of knowledge around products’ specifications and
requirements.
➢ This may happen in collaboration with a quality assurance department.
Process Innovation and Development
➢ R&D is not confined to product development. Its various functions may also apply to
processes, such as industrial and manufacturing processes.
➢ This means the focus on innovation and improvement is not so much on the end but the
means. A practical example of this is in developing thermal management solutions to
improve safety and performance in various continuous process and manufacturing
industries.
➢ Again, there can be a similar set of phases, including initial research and identification of
issues and feasibilities, followed by development and prototyping.
➢ Within these R&D functions, there are different types of research and development, and
decision-making associated with them.

FUTURE OF R&D
➢ One can almost see the future of R&D in current biopharmaceutical research labs and technology.
➢ Technological advances breed more technological advances and new scientific or technological
discoveries are increasingly common. The Covid-19 pandemic brought much of that innovation to the
fore, as society looked to new processes and developments to keep the wheels turning.

AI optimisation
➢ Artificial Intelligence, or AI, is already taking the world by storm. Combining Big Data and AI will allow
businesses and individuals to make decisions driven entirely by data. They also provide a platform for
an immense amount of R&D, from data storage to searching software. The Internet of Things (IoT)
also complements AI, as our world quickly becomes optimised in every possible way. Every sector will
benefit from these advances, which will reduce waste, reduce costs and improve efficiency. Data
processing and software development are to be some of the biggest areas for R&D in the future.

Energy system transformation

Climate change is undeniable at this point, and people are scrambling to keep up. Efforts to upheave an energy
system and implement zero-emission alternatives are being subsidised by governments, like the Sustainable
Energy Authority of Ireland’s electric vehicle grant. Solar power, wind power and other renewable energy
sources are also areas of exponential growth, growing cheaper and more efficient almost by the
day. Innovators should be encouraged to look at the sector, offering advantages for the environment and a
company’s bottom line.

Cloud storage
Cloud storage is expected to grow globally from USD 50.1 billion in 2020 to USD 137.3 billion by 2025. The
increase in data volumes and the necessity of international communication with remote working. Low costs
and flexibility make cloud storage an attractive option for many companies. The pandemic only made these
benefits more obvious. However, there are improvements to be made to the system yet, in terms of security,
decentralisation and customisability.

Data security
Data security has been a big theme of the past few years, as several high-profile hacking incidents have
compromised important information. Cyber attacks are growing in number and in consequence, as the speed
of technological advances leaves chinks in the armour. With strict GDPR rules in place, now is not the time to
skimp on security. Cyber security can be combined with artificial intelligence to create a stronger defence.

Healthier living
The importance of safeguarding our health cannot be understated. Vaccine development has taken the main
stage for the past few months, however there are many, many areas for R&D in medicine, from medical devices
to biomanufacturing. Irish companies are especially well-positioned to capitalise on funding opportunities for
innovation in the medical field, due to the generous tax rates and a number of grants, as well as experts already
working in the area.