Tcm concept discovery stage introduction
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The document details a seminar on establishing successful businesses, emphasizing the journey from idea discovery to commercialization. It discusses various entrepreneurial backgrounds and provides a framework for technology commercialization comprising six stages, from discovery to domination. The presentation encourages participants to identify their unique business opportunities and assess market feasibility.
Tcm concept discovery stage introduction
- 1. “Fast Track to Commercialization” … how to discover your One Million Dollar Business (1mdb) Stephen Ong Visiting Professor, Shenzhen University, PRC Academic Fellow in Entrepreneurship & Innovation, Anglia Ruskin University, UK 3 August 2016
- 2. 2 Today’s Agenda • 9:00 Intro : Who wants to be a Millionaire? • 10:00 Step 1 : Mapping out my Great Idea • 12:00 Step 2a : My secret love affair • 13:00 Have an AMAZON Lunch • 14:00 Step 2b : Let’s Go Shopping • 15:00 Step 3 : Ask me about my One Million Dollar Business
- 3. So you want to be a MILLIONAIRE?
- 4. A27 year old graduate in Electrical & Electronic Engineering from local Technical College, with 7 years working experience. With a partner, started up a computer repairs shop to make Chinese language computers in Chinatown. B26 year old drop-out from local university, working with a company making calculators. With a partner, started making computer parts at home for a newly opened computer shop. C20 year old drop-out from local university, working with a local software company. With two partners, started up data processing service for local government using computers at the school library.
- 6. A27 year old classmate from local Technical College, holder of Diploma in Electrical & Electronic Engineering. He holds strong beliefs in living life without regrets and making the world a better place. B26 year old high school leaver, from average family, whose step- father is a mechanic and carpenter. He has been a drug user, a follower of Eastern religions like Hinduism and Buddhism, and always short of money. He believes in changing the world. C17 year old drop-out from local university, working with a local software company. He comes from a middle-class family and strongly believes in intellectual property rights.
- 7. A • Copied 2 patents from US Competitor and had to buy Company. • Owned 1 patent copied by US Company and wins damages. B • Copied 1 patent from US Company • Copied 1 patent from foreign Company and legally forced to pay damages for licence. CBuys 1 exclusive licence from US Competitor and sells non- exclusive licences to customers.
- 8. A A 60-year old company with a network of 3,000 computer stores B A new local computer store and friends. C A 70-year old company with its own sales force, own stores and reseller agents
- 10. “…if we don’t invent the right thing, someone will invent the right thing. So let’s go invent that thing” Reid Hoffman, founder of LinkedIn with four friends, starting with 6,000 customers, 10 years ago. Today, a US$20B company with 225m customers.
- 11. Is your FACE, your FORTUNE?
- 12. A B26 year old drop-out from local university, working with a local company making calculators. With a partner, started up small manufacturing of computer parts at home for local newly opened computer shop. C20 year old drop-out from local university, working with a local software company. With two partners, started up data processing service for local government using computers at his parent’s school.
- 13. A B C
- 14. B
- 15. From $1 to $1.0 Million1 2 4 8 16 32 64 128 256 512 1024 2048 4096 8192 16384 32768 65536 131072 262144 524288 1048576 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 THE COMPOUNDING EFFECT
- 16. For those chosen few out of MINDS, there is the ... SPACE programme
- 18. The Technology Commercialisation Model CONCEPT PHASE STAGE 1 : DISCOVERY CREATION PHASE STAGE 2 : DO-ABILITY STAGE 3 : DESIGN STAGE 4 : DEPLOYMENT COMMERCIAL PHASE STAGE 5 : DELIVERY STAGE 6 : DOMINATION
- 19. The Technology Commercialisation Model SCIENCE & TECHNOLOGY MARKET ENTERPRISE / BUSINESS CONCEPT PHASE STAGE 1 : DISCOVERY Step 1 Technology Analysis Step 2 Market Needs Analysis Step 3 Venture Assessment CREATION PHASE STAGE 2 : DO-ABILITY Step 4 Technical Feasibility Step 5 Market Study Step 6 Economic Feasibility STAGE 3 : DESIGN Step 7 Engineering Prototype / Pilot Plant Step 8 Strategic Marketing Plan Step 9 Strategic Business Plan STAGE 4 : DEPLOYMENT Step 10 Pre-production Prototype Step 11 Market Validation Step 12 Business Start-Up COMMERCIAL PHASE STAGE 5 : DELIVERY Step 13 Production Step 14 Sales & Distribution Step 15 Business Growth STAGE 6 : DOMINATION Step 16 Production Support Step 17 Market Diversification Step 18 Business Maturity
- 20. The Technology Commercialisation Model Dimensions SCIENCE & TECHNOLOGY MARKET ENTERPRISE / BUSINESS CONCEPT PHASE STAGE 1 : DISCOVERY Step 1 Technology Analysis Step 2 Market Needs Analysis Step 3 Venture Assessment
- 21. “Is your product new, unique, and technically feasible?” Innovation SPACE™ Technology Commercialization Model Phase 1 : CONCEPT Stage 1 : DISCOVERY Step 1 : TECHNOLOGY ANALYSIS
- 22. “Does your product meet a clear market demand or solve a problem?” Innovation SPACE™ Technology Commercialization Model Phase 1 : CONCEPT Stage 1 : DISCOVERY Step 2 : MARKET NEEDS ANALYSIS
- 23. “Will your product or venture opportunity make a profit?” Innovation SPACE™ Technology Commercialization Model Phase 1 : CONCEPT Stage 1 : DISCOVERY Step 3 : VENTURE ASSESSMENT
- 24. We must set our Goals today
- 26. Have an Amazon lunch …
- 27. … time for walkabout
- 28. CONCLUSION
- 29. Do we make the RIGHT Choices?
- 30. A He associates with crooked politicians, and consults with astrologists. He's had two Mistresses. He also chain smokes and drinks 8 to 10 martinis a day. B He was kicked out of government twice, sleeps until noon, used opium in college and drinks a quart of whiskey every evening. C He is a decorated war hero. He has strong religious beliefs, a vegetarian, doesn't smoke, drinks an occasional beer and never cheated on his wife.
- 33. THANK YOU
Editor's Notes
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