Primary Care Innovation Consulting presentation

Personalized Innovation Management, Sustainable Growth & Value Creation

Fighting the Product Development Paradigm

Total Product Life Cycle Birth to Death Expenditures

1000 Ideas 100 Trials 10 Products 1 Success + Sales Curve Patent Filed

Licensees Profits Sought Idea 0 +

Reduction to Practice

Shutdown Costs Total Expenditure/Profit Curve

Pilot Plant Marketing Starts

10+ Years

Up to $100MM

Open Innovation – a new reality

Good ideas are widely distributed today. No one has a monopoly on useful knowledge anymore.

Financial managers must play poker, as well as chess, to capture the value in false negatives.

We must manage IP in order to manage research: ◦ need to access external IP to

fuel our business model◦ need to profit from our own IP

in others’ business model  

Not all of the smart people in the world work for us.

Stating The Problem

“In theory, there is no difference between theory and practice. In practice there is.” Yogi Berra.

“Not Invented Here (NIH)” syndrome

“Do not teach me how to live, better help me financially.” I. Ilf & E. Petrov. 12 Chairs.

“The probability does not work in real world; it is pay off that matters.” Nassim Taleb. Antifragility.

Is There a Solution

Need personalized, individual approach to businesses and technologies. No “one size fits all”!

Can only come from experience

Craft, not an exact science

Repeatable, reproducible track record of success

Mission Statement

We help businesses to stay healthy and grow organically – this is fundamentally different path.

Why Will It Work?Scientific/technical background and a way of thinking [MD, PhD, 13 papers in international peer reviewed journals]

Business experience across industries and geographies [clients and deals managed in US, Japan, Korea, EU, Israel, Former Soviet Union]

Connectivity and access to data and technologies – all sizes and origins [academia, SMEs, Venture communities, Fortune 500]

Experience, reputation and recognition within global innovation community [Certified Licensing Professional (CLP), Registered Technology Transfer Professional (RTTP), key note speaker, program chair, committees member]

Vendor independent approach [established relationships with recognized and regional vendors on a case by case basis]

Unsolicited Recommendations

Value AddConnectivity

Deep reach into corporate technical staffs

Access to key gatekeepers (tech transfer & tech acquisition)

Relationships with venture capital, Universities and SMEs

ConfidentialityOpportunity screening and initial discussions

Protect client name and application

ExpertiseEvaluation and communication methods

Market and buy-side knowledge

Business formation and commercialization skills

External perspectiveUnbiased evaluation and critical thinking

Global Reach = Value Proposition

Direct connections and strong business and personal reputation at:

Fortune 500

SMEs Start-ups

Universities & Research Institutions

VCs & investment groups

Entrepreneurs & Inventors

North America

✔ ✔ ✔ ✔ ✔ ✔

Asia (Japan, Korea, India, China)

✔ ✔ ~ ✔ ✔ ✔

Europe (EU) ✔ ✔ ✔ ✔ ✔ ✔

Eastern Europe

~ ✔ ✔ ✔ ✔ ✔

Former Soviet Union

~ ✔ ✔ ✔ ✔ ✔

Israel ~ ✔ ✔ ✔ ✔ ✔

Servicing Two Sides of Open Innovation

Buy Side

Innovation management

External Business development

Technology Scouting

Training

Investment &/or Acquisition Targets

Sell Side

Market Assessment

Strategy Advisement

Commercialization Assistance

Value Proposition & Market Validation

Facilitation of Licensing and Partnerships

Why Technology Scouting?

When the solution may already exist--there’s no sense in reinventing the wheel!(cost, time to market)

When having the “best” performance is critical to meet customer needs.

When you don’t want to be surprised by a competitive product introduction

Disruption Theory Practice

Sustaining Better than existing

products in market, independent of price

Incumbent (3 of 4)Same product, same value prop, same customer, same channel

Succeed

New Entrant Fail

Disruptive Compete against

non-consumption

Lower cost and worse

Incumbent Fail w/o autonomy

New Entrant Succeed

Disruption = A strategic choice

*Paraphrased from Christensen &

Raynor, The Innovator’s Solution,

Harvard Business School Press (2003)

✗

Choosing Your Battles – Technology Triage

The analysis is focused on finding obvious showstoppers to commercialization.  Recommendation: “should or should NOT be continued...” KILL FAST 

The key findings are:  1.      Stage of Technology Development2.      Intellectual Property status3.      Competition: Existing Product s or Technologies Relevant4.      Competition: R&D Project in the Relevant Fields5.      Possible Market, Perspective and Barriers6.      Preliminary Ideas on Commercialization Strategy 7.      Lists of Possible Partners, Next Steps

Training and Mentorship

Small companies

Business plans competitions

Proposal review

Executive summaries and presentations

Business development support

Thought Leadership

Putting it All Together

We will find or build a missing piece of the puzzle for you.

TheTechnology

Risk capital:Investors,Strategic partners

Leadership:

Entrepreneurs,

Bus Dev

Market Needs:

Strategy,Competition,

Value proposition

Partners,Licensees,Clients…

Contact Info

Eugene Buff, MD, PhDCertified Licensing Professional (CLP)Registered Technology Transfer Practitioner (RTTP)

Primary Care Innovation ConsultingUsTech Discovery LLC

E-mail: [email protected].: +1 617-331-1982Skype: eugenebuff