Tapping into The Business of Science - Idea Generation - Finding Partners
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Braathe Enterprises focuses on bridging the gap between scientific innovation and market implementation through project management, mentoring, and customized training. The program aims to support innovators by providing business solutions to successfully launch new products while emphasizing the importance of intellectual property protection and effective branding strategies. By fostering collaboration between business and science, the goal is to facilitate the transition of scientific discoveries into marketable products that address consumer needs.
Tapping into The Business of Science - Idea Generation - Finding Partners
- 1. the Business of Science Tapping into
- 2. Your Start is Our Art ● Start a business through our project management and mentoring of entrepreneurs ● Start learning through our customized training and classes ● Start your career through our virtual internships Robert Braathe, MBA: Created Braathe Enterprises in 2005. Professor, Business Trainer, Mentor. Project Manager, Director of the Virtual Internship Program Michelle Przedwiecki, MPH: Professor, Curriculum Consultant, Program Developer, Business of Science Program, Work Happy BE Healthy Program, Project Mentor in the Virtual Internship Program
- 3. Project Management and Business Planning The Business of Science Program at Braathe Enterprises is a collaboration between Robert Braathe, MBA and Michelle Przedwiecki, MPH. With their combined background and experience from the worlds of Business and Science, they can advise their clients on how to bring innovative ideas to the marketplace. ⚫ Disconnect between the innovative ideas and scientific research and the availability of these advances to consumers ⚫ companies that were generating great ideas that were not being fully implemented, or products that were not being marketed clearly. The goal of this program is to support the idea-generators and the innovators with customized business solutions that help them to bring their products and services to their target market and start changing the world.
- 4. Business vs. Science “…commercial success with a new technology usually depends on the exclusive ownership of a critical asset or capability” “…scientific breakthroughs depend upon the open exchange of ideas and the ability to draw knowledge from many sources.” -Harvard Business Review, 2014 Establishing a balance between the two will ensure a successful transition between scientific discovery and a marketable product.
- 5. Product Development From a science idea to launching the product
- 7. Research and Development • Attending trade shows with research-related sessions • Taking industry-specific courses, in person or online • Broadening your awareness of industry, market area, consumer, and industry issues and opportunities What is the R&D plan into the future? Planned R&D expenditures over the next year Your long-term R&D goals
- 8. Robert Kearns: Inventor of the Windshield Wiper • Invented and patented the intermittent windshield wiper • Proposed the idea to Ford and Chrysler but they failed to reach a licensing agreement, but then started to include similar parts in their new vehicles. • Kearns won multimillion-dollar judgments against Ford Motor and Chrysler for using his idea, but the main focus of the lawsuit was to defend the US Patent System Value of Intellectual Property Obtaining a Patent is a way to receive credit for the invention and protect your intellectual property while also creating a vehicle for sharing the details of the innovation.
- 9. Others forms of Intellectual Property Trade secrets: IP that is not broadcast in the form of a patent but, instead, is held as proprietary knowledge by the organization or individual who invented it. ⚫ Even though it is not patented, a trade secret can be defended legally from theft ⚫ Trade secrets cannot, however, be defended from the possibility that someone else might invent the same thing on their own--and possibly even patent it. Publication: If you disclose your invention “publicly,” such as by publication, lecture, or some other “public” format, nobody else will be allowed to patent your idea subsequently. ⚫ In U.S. you then have 1 year to file for a patent ⚫ Database of “specifications”
- 10. Prototyping your Product Obtaining Approval Launching the Product
- 11. Business Development Building and Maintaining a Successful Business
- 12. TheProduct Development Process The Business Development Process Create Business Model Build Management Team Raise Venture Capital Create Your Brand *Define product/market niche *Prepare a business plan *Protect your competitive advantage *Produce & Differentiate your product
- 13. Business Model How will you run your business?
- 14. Choose your Business Model: -Product sold to customers (Website/online) -Selling Wholesale to retailers -License Product to other companies -Selling through distributors Who's your target customer? What customer problem or challenge do you solve? What value do you deliver? How will you reach, acquire, and keep customers? How will you define and differentiate your offering? How will you generate revenue? How your business will operate... Timelining Start-up costs? How will you obtain funding? Breakeven Point
- 15. Next Generation Supply Chain Management Leap forward with technology-enabled solutions
- 16. 7 Primary Aspects of Next Gen Supply Management Green Data Driven Fast Flexible Global Optimized Inventory Proactive
- 17. Business Management The people behind the operations
- 18. Choosing the Right Team ● Decisions usually move up the hierarchy however, it can be valuable to ask for input from employees based on their specialities ● Flexibility ○ Switch up the teams ○ Allow managers to see if people fit in certain areas of the company better ● Hiring the Best and Brightest ○ Understanding how to pick up quickly on operations is key to success in team of employees ● Seniority is not Priority ○ Time worked at a company doesn’t determine if they should still be there if another has the merit and skill to remain
- 19. Raising Venture Capital How to protect your competitive advantage
- 20. VentumarketVe Venture Capitalists focus heavily on the size of the market
- 21. - VentumarketVe Sources of Capital - Crowdfunding - New Law - Equity Crowdfunding - UVANY - Small Business Loans (SEFCU)
- 22. Social Entrepreneurship Strong social mission equals program related investments for your business.
- 23. Social Entrepreneurship can yield both financial and social returns Nonprofits Civic-minded Individuals For-profit businesses
- 24. Creating your Brand How the Science Language needs to be translated to the public
- 25. Using Branding and Marketing Strategies to translate complex science into understandable terms for public consumption Example: The “God” Particle -The subatomic particle called the Higgs Boson which gives mass to matter. -Media loved the name “God” particle -Branding can make a research idea explode with interest in the public eye. First described in 1964 and found in 2013
- 26. On the surface it looks like business and science clash like two polar opposites. While one seeks to find truth through collaboration and discovery, the other is about maintaining order by ensuring success in a world driven by competing entities. Often commercialization is seen to be at odds with the purity of science. But in practice, business is the vehicle that gets those scientific breakthroughs to the consumers. The goal of this program is to support the idea-generators and the innovators with customized business solutions that help them to bring their products
- 27. Have an Idea? Questions? Comments? Contact Braathe Enterprises about customized solutions for YOUR business. Phone: 518-290-0812 Email: info@braatheenterprises.com