Commerical Readiness

Protecting, developing, marketing, manufacturing and commercializing new inventions is risky, costly and time consuming. Therefore, taking time to critically and objectively evaluate the commercial attractiveness of a new invention or technology before starting down a long commercialization road may help to mitigate risk and avoid common pitfalls.

A few of the early questions considered by OTC when conducting a commercial feasibility analysis for a new invention include the following:

Scientific/Technical Merits

• Is there a well-defined product or commercial application associated with the invention?
• Is this an incremental improvement on existing technology or a compelling ("disruptive") new technology?
• Is the science at the foundation of the technology based on sound, supporting data?

Stage of development and Cost

• Is there proof of principle or prototype that demonstrates validity of the concept or idea?
• Are the timeframe and overall cost to productize and commercialize the invention reasonable?
• Would the cost to manufacture the product be reasonable?

Utility (Unique Value Proposition)

• Is the market problem or unmet need clearly defined and significant? (e.g, is need or problem recognized?)
• Is this a grand solution to big problem, a big solution to a small problem or a solution similar to other product offerings?
• Are competitive advantages of product significantly superior to other products or incrementally better?
• Would the advantages be sustainable for a long period or short-lived?

Novelty, Obviousness, Breadth

• Does the IP appear to be truly novel or differentiated? (Is it patentable?)
• Is IP "non-obvious" (or is it a natural extension of other technologies or IP)?
• Would patent claims be broad or narrow?

Commercial Viability

• Who are the customers? (Who cares, how many care and how much do they care?)
• Are the customers' unmet needs well defined and recognized in the market?
• Does the product address a large and growing market?
• Is Industry structure favorable or highly competitive?
• Is the "window of opportunity" for the product opening, closing or waiting to happen…someday?
• Is there one product or multiple future products associated with the technology? (If one product, how broad is its application?)

Commercialization

• Are there prospective licensees or development partners? (or has interest in the technology been expressed by industry partners or investors?)
• Is the technology a foundation for sponsored research in your laboratory?
• Is this technology broad and strong enough to support the launch of a new start-up enterprise?