5. Technology Scouting and IP Strategy Flashcards
What are the two types of technology transfer?
Vertical:
Uni research -> invention -> tech transfer group -> Industry
Horizontal:
Tech used in one place/organisation is transferred to another organisation
What is diffusion?
The adoption of innovations
- This can be manufacturers or consumers
- Follows an s curve
- Early adopters and laggards
What is technology scouting?
- Identify new tech
- Tech related info channelled into an organisation
What is the process of technology scouting?
- Define aims and areas
- Define info sources and methods to use
- Collect data
- Interpret data
- Evaluation
- Use info
What does a technology scouting network consist of?
- Internal/external scouts
- Fulltime/part time scouts
What are the benefits of technology scouting?
- Early identification
- Raising awareness of potential threats
- Stimulation of innovation
- Facilitating of the sourcing of external tech
What is open innovation?
Innovation approach where knowledge is shared and not kept secret.
example is lego using customers to come up with designs
Why is the creation of a funding strategy important?
- Maintain continuity of funding
- Part of a credible business strategy
- Increase chance of raising funds
What are the first stages of creating a financial plan?
- How much investment
- When its needed
- When will it be available
- How soon the loan can be repaid
What is the 2nd stage to financial planning?
- Cashflow forecast
- Sales and working capital forecast
- Funding sources
Compare crowdfunding and private equity:
Private equity:
- More private
- Comes with connections and experience
- Can lose control
- Can be difficult to raise
Crowdfunding:
- Easier
- Build community
- Gain exposure
- Not private
- Limit of $1M per year
