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Ignite Technology Transfer NUI Galway
Neil Ferguson
Acting DirectorTechnology Transfer Office
Challenges and Best Routes for Commercialisation
Ignite Technology Transfer NUI Galway
Irish Studies, Texts, Contexts & Cultures
Human RightsDigital Humanities
Irish Studies, Texts, Contexts & Cultures
Human RightsDigital Humanities
Thematic PrioritiesThematic Priorities
Biomedical Science & Engineering
Biomedical Science & Engineering
Environment, Marine & Energy
Environment, Marine & Energy
Applied Social Sciences & Public Policy
Applied Social Sciences & Public Policy
Informatics, Physical & Computational Sciences
Informatics, Physical & Computational Sciences
Humanities in ContextHumanities in Context
Major Institutes &
Centres
Major Institutes &
Centres
Fundamental/Theoretical
Continuum of Research Activities
Applied
Cross-thematic activities
Cross-thematic activities
Ph
oto
nic
s a
nd
Imag
ing
Hig
h P
erfo
rman
ce c
om
pu
ting
/bio
info
rmatic
s
Eth
ics a
nd
bio
eth
ical re
searc
h
Biomedical Engineering Cancer
Neurosciences Regenerative medicine
Biomedical Engineering Cancer
Neurosciences Regenerative medicine
Applied ComputingPhotonics
Semantic Web & Web Services
Applied ComputingPhotonics
Semantic Web & Web Services
Climate change Environment
Marine Energy
Climate change Environment
Marine Energy
Innovation Social Inclusion
HealthBalanced Development
Innovation Social Inclusion
HealthBalanced Development
NCBES REMEDINFB AGRC
NCBES REMEDINFB AGRC
Moore InstituteIrish StudiesICHR
Moore InstituteIrish StudiesICHR
MRI ECIEnergyPower Electronics C-CAPS
MRI ECIEnergyPower Electronics C-CAPSCISCICSGCHPSCFCRCHSRD
CISCICSGCHPSCFCRCHSRD
DERI CHPCNCLAApplied Optics
DERI CHPCNCLAApplied Optics
Dig
ital T
ech
nolo
gie
s
Ignite Technology Transfer NUI Galway
The Four Pillars of Success
Technology
Marketing
Management / Team
Finance
Ignite Technology Transfer NUI Galway
Technology and Market
are linked
Ignite Technology Transfer NUI Galway
What is the Product?
1. What business problem does the invention solve?
2. How severe is the customer pain this invention will address?
– (Who’s willing to pay now?)
3. What are the uses/applications for this idea?
– (Target customers, partners, licensees)
Ignite Technology Transfer NUI Galway
What is the Market?
4. Is the market “ready” for this idea? (Timing)
5. What market space and category does this idea fit into? (Opportunity)
6. How big is the market opportunity? (Category Size)
7. How fast is the category growing or shrinking? (Category Growth)
Ignite Technology Transfer NUI Galway
What is the Market?
8. What paths to commercialization exist for this idea? (Can we reach the customers?)
9. Who are the key competitors and why will this invention win out over them? (Who else is competing and what’s your edge?)
10. What type of investment is required to productize your invention and what financial return might we receive? (What’s the Risk/Return?)
Ignite Technology Transfer NUI Galway
The Four Pillars of Success
Technology
Marketing
Management / Team
Finance
Ignite Technology Transfer NUI Galway
Technology R&D – Manufacturing
Sales / Marketing
Finance
Leadership / Management
Team
Ignite Technology Transfer NUI Galway
• Management and skills experience:
The more the better.
Investors like to see experienced management.
They have learned from mistakes.
• Different teams for different phases.
• Strong CEO.
Team
Ignite Technology Transfer NUI Galway
First steps in Raising Finance
• Define clear milestones for next fundraising (exploitation phase).
• Communicate them to your team.
• Have industry benchmarks.
• Understand the competition.
• Define Value Elevating Events (VEE).
Ignite Technology Transfer NUI Galway
The price you pay
The higher the price to purchase funds
Risk Less Risk
Ignite Technology Transfer NUI Galway
IDEA Incubation
First stepsExploration
Exploitation Expansion
AcademicResearchFunds (SFI) Licence Sales
Difficult to Can estimateCalculate RiskRisk IPO
Industry Sale/ PartnershipIndustry
Founders
F & FAngelEI, BES
VCs
Ignite Technology Transfer NUI Galway
“ All you do is buy money”
“Know what the seller wants”
Ignite Technology Transfer NUI Galway
First steps. Funding
• Friends and family.
• Angels (any left?).
• Business Expansion Scheme.
• EI.
• Value: do not overprice; leave room for lift in the next round.
Ignite Technology Transfer NUI Galway
Exploitation: mostly VC money/some corporate
• Have clear milestones.
• Have clear Value Elevating Events.
• Understand the market and competition.
• If we invest “x” we will get “y”.
• “I have the competence to deliver” – Team essential.
• Have industry benchmarks.
• Back up plans.
Tick all the boxes: you are a businessman. Convince them!
Ignite Technology Transfer NUI Galway
Think it through, Reality checks, Team,Make it happen.