It’s a story we hear many times. Technology has being developed because it’s technically ahead of what is being done elsewhere. Then comes the challenge of finding what market it fits into and what possible business needs it can solve. How do we commercialise this technology?

This is also typical of college research projects. The focus is more on making the technology better and not on providing a better solution for a defined market need. There is always room blue-sky or basic research but it always helps to have some awareness on where it can link to market needs.

The search, identification and the resulting commercial alignment effort can produce many potential commercial paths which may or may not include the initial vision of the project. This often results in wasted time and money unless the possible commercialisation paths are identified early in the project so as to adjust the project direction appropriately.

From a commercial point of view, how do you make a success of this project? How do we commercialise this technology research project? Some thoughts that may help:

1) Is there an immediate market for your technology?

a) Who will buy and why? How many and how much?
If it is clear that there is an immediate market for the project’s resulting technology, then it should be easy to answer;
- who exactly will be interested in this technology?
- why will they buy it right now so that it is an immediate value to them?
- how much will they pay and how do you justify the value proposition?
- how many such opportunities are you likely to win in the market against the competition?

b) Is it a product, technology or IP?
If you have a patent and a prototype, then this may only count as IP (Intellectual Property) as the technology may need to be completely redeveloped to suit the licensee’s purpose.

2. If there is no obvious immediate market then ask; What was the Vision of the future in conceiving the project?
a) In what future does the technology fit?
Describe how the market would use your technology and how things will be done

b) Why will people use it?
Understand why your technology will be used ahead of other ways of doing the same things.

c) Who will you be competing with in this future?
In this future what or who are the likely competitors of your technology?

d) Are those competitors here today?
Do these competitors exist in the market today and why are they not doing what you’re doing? Is it in their development roadmap?

e) Could you help these competitors meet this vision?
Rather than waiting the 5 years or so to compete with the current market leaders, could you help them realise this future vision with your technology. This would likely make a great partnership of their market presence and your technology.

3. To evaluate further, what are the components or layers of your technology?
The secret value may be in a sub-part of the overall project. As we see sometimes, we may build terrible cars but fabulous engines. What are the fabulous engines in your project?

a) Review each component for all its possible Uses or Applications

b) Review the market opportunity for each Use or Application


Commercialisation of technology research is never straight forward but the rewards maybe in the hidden value and that there are many opportunities in licensing your technology by analysing it a little differently.

Once you have identified the a market, then comes the search for the technology or commercialisation partner.

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