Technology Scouting and IP Strategy Flashcards
Types of Technology Transfer and definitions?
Vertical - Vertical technology transfer occurs when information is transmitted from basic research to applied research, from applied research to development, and from development to production.
Horizontal - Horizontal transfer of technology occurs when technology used in one place, organisation, or context is transferred and used in another place, organisation, or context.
Vertical Technology transfer diagram
Horizontal Technology transfer diagram
Diffusion
Diffusion = adoption of innovations
– Can be by manufacturers or consumers
– Usually follows an S Curve
– early adopters to laggards
Technology Scouting
An element of technology management in which:
– Emerging technologies are identified,
– Technology related information is channelled into an organization,
– The acquisition of technologies is supported
Building a network of experts for competitive advantage
Technology Scouting Process
Can be quite structured as per diagram below
Can also be a more fluid process
Technology Scout Types
Benefits of Technology Scouting
Open Innovation?
Open innovation is the practice of businesses and organizations sourcing ideas from external sources as well as internal ones. This means sharing knowledge and information about problems and looking to people outside the business for solutions and suggestions.
E.g Lego using there customers to come up with new products, Apple don’t
What will a sucessful Funding strategy do?
A successful funding strategy will maintain the continuity of money supply needed to achieve this at the lowest cost and risk to the business/individual.
Why bother developing a funding strategy?
- Maintain continuity of funding
- Part of a credible business strategy
- Increase likelihood of raising funds
- Right source at right time
Steps in Financial Planning?
- Firstly establish:
- how much investment you will need to fund the venture
- when you will need it
- when it will be available
- how soon you will be able to repay the capital
- Then develop:
- A detailed Cashflow forecast
- Sales and Working Capital forecasts
- Potential funding sources (seed and growth)
- Look Familiar? – Business Plan
Return on Investment - ROI, what is it and how to calculate it
Measures the profitability of the business
* Percentage return over a time
* Three to five year timescales usual
Calculating ROI:
* Take the total investment figure
* Calculate annual sales and resulting net profit
* Calculate that as a percentage of the investment
Types of funding?
Most business start-ups are funded by personal savings/debt or family and friends.
Funding and Failure Rate?
Crowdfunding V Private Equity Pros and Cons?
