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Commercializing Innovation: Turning Technology Breakthroughs into Products, by Jerome Schaufeld
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Commercializing Innovation: Turning Technology Breakthroughs into Products shows you how to take ideas from the R&D lab, the university, the patent office, or the minds of dreamers and turn them into commercially successful products and services. It also provides detailed methods for improving the probability of success.
Commercializing technology is not easy. There are many complicated decisions to make: Where to get ideas? Which to pursue? Whom to hire? Where to manufacture? How to fund? Create a startup or license to another? As Commercializing Innovation: Turning Technology Breakthroughs into Products shows, you need a systematic method to answer such questions and bring sophisticated products and services to market.
In this book, successful technology entrepreneur and professor Jerome Schaufeld offers a step-by-step commercialization process that begins with assessing technology from a variety of sources and ends with taking viable products into the market. As he shows, by applying systematic processes to technology commercialization, you can create a greater number of useful products while improving the probability of their success in the marketplace. Using case studies and models, as well as the experience Schaufeld has accumulated over the years, Commercializing Innovation shows readers how to:
- Source technology that can be turned into products
- Recognize an opportunity to create a viable product
- Perform feasibility analyses before sinking too much money into a project
- Find the right method and means to introduce the product to market
- Plan the project down to the last detail
- Execute the project in ways that improve chances of its success
Schaufeld also covers topics of great importance to entrepreneurs and business developers, like why offshoring manufacturing is not always the best option, how to abide government regulations without letting them cripple your project, and how to compete globally when good ideas and the money to fund them now come from every corner of the world.
As a successful entrepreneur, consultant, and professor of entrepreneurship at a leading U.S. engineering school, Schaufeld’s unique vantage point allows him to provide cogent insights into both the theoretical and practical aspects of bringing products to market. By following his methods, you will improve your chances of creating successful products.
What you’ll learn
- A step-by-step method for bringing technology products to market
- How to systematize the commercialization of technology-based ideas
- Where to find breakthrough technology innovations - or create them yourself
- How to improve the success rate of commercialization projects
- Different methods for marketing products to maximize impact and sales
Who this book is for
- Corporate executives
- Entrepreneurs
- Venture capitalists and angels
- Consultants
- Business development professionals
- Business and engineering school professors and students
- Government and corporate-level consultants.
- Sales Rank: #1025659 in eBooks
- Published on: 2015-07-29
- Released on: 2015-07-29
- Format: Kindle eBook
From the Back Cover
Commercializing Innovation: Turning Technology Breakthroughs into Products shows how to turn ideas from R&D labs,universities, patent offices, and inventors into commercially successful products and services.
Commercializing technology has never been easy, and it's getting tougher all the time. All the decisions you need to make are complicated by today's breakneck rates of change in enabling technology and by competitive pressures disseminated globally at the speed of the internet: Where to get ideas? Which to pursue? Whom to hire? Where to manufacture? How to fund? Create a startup or license to another? To answer these questions adequately and bring sophisticated products and services successfully to market, you need to deploy the systematic methods detailed in this book.
Jerry Schaufeld--serial technology entrepreneur, angel investor, and distinguished professor of entrepreneurship--presents in detail his proven step-by-step commercialization process, beginning with technology assessment and culminating with the successful launch of viable products into the global market. Using case studies, models, and practical tips culled from his entrepreneurial career, he shows readers of Commercializing Innovation how to
- Source technology that can be turned into pro
ducts
Recognize an opportunity to create a viable product
Perform feasibility analyses before sinking too much money into a projectFind the right method and means to introduce the product to market
Plan the project down to the last detailExecute the project in ways that improve chances of its successComply with government regulation without crippling your projectDecide whether offshore manufacturing is your best optionCompete globally with globally sourced ideas and funding About the Author
Jerome Schaufeld's wealth of experience in entrepreneurship, operations, and general management of technology-based companies ranges from his current role as Professor of Entrepreneurship at WPI to an assignment as a commercialization consultant at Children's Hospital in Boston. He served as Director of the RI Slater Fund, was President and CEO of Mass Ventures, and he has a "hands on" track record in several early-stage companies that ranges from functional to board-level advisory roles. He is a member of the Launch Pad Angel Group in Wellesley and Co-founder of the Cherrystone Angels in Rhode Island. In addition, Mr. Schaufeld is an advisor to the newly formed Boynton Angel group in Central Massachusetts, a charter member of the national Angel Capital Association (ACA), and a founder/ participant in the regional NE Angels ACA group. Mr. Schaufeld was a founder and the first Chairman of the MIT Enterprise Forum. He also founded the Incus Group, which is a CEO-level business acquisition and resource organization.Mr. Schaufeld was co-founder of Phoenix Controls Corporation. The company pioneered an approach to the control of air flow in critical laboratory and hospital environments and was successfully sold to a Fortune 500 company. With a graduate engineering degree, research experience at MIT, an MBA, professional engineer's license, and Professional Board Director's Certification, Mr. Schaufeld has a distinguished technical and operations-savvy managerial career. His current interest and research is in the area of improving the probability of success in early stage, innovative, technology-based ventures.
Most helpful customer reviews
1 of 1 people found the following review helpful.
A Great Read that Addresses the Complexity of the Commercialization Decision
By sharilee
There is an overwhelming amount of innovation emerging from R&D departments around the world. Should it be commercialized just because the internal team thinks it's an innovation? Not that my tech manufacturing clients want to hear it, but the answer is often "no." It's been a long time since "if you build it, they will come" has worked. Now there is a way to get across the complexity of the commercialization decision and develop a roadmap for a likelier path to success. Jerry Schaufeld's book provides the tools needed to make this decision, regardless of the size of your company or industry. For example, his "commercialization cycle" helps us understand both the internal and external challenges at each stage, whether you're pre-investment, early stage, or series A. Is this the right idea for us to pursue, given our strategic goals? Is this an opportunity who's time has come? Do we understand the competitive environment? Do we understand the economic, technical, operational, and legal issues and risks? How long will it take us to get to break-even? Key issues are addressed in strategic planning, financial analysis, market demand, and operations. This is a great book that I recommend to clients and students.
0 of 0 people found the following review helpful.
Easy-to-follow Roadmap to Commercialization
By Amazon Customer
As the founder of a faced-paced, mid-sized manufacturer that has embraced technology, Jerry Schaufeld’s book fully resonates with our outlook. New products and innovation are the lifeblood of our business and Prof. Schaufeld presents an elegant yet easy-to-follow roadmap that leads us through this process. There are many useful, golden nuggets to be found in the commercialization model that seem obvious only after the fact. I guess that’s what experience teaches. To my pleasant surprise, Commercializing Innovation is also an enjoyable read with many relatable examples. It will be a valuable guide for our product innovation team.
0 of 0 people found the following review helpful.
Commercialization of Technology Made Understandable
By Amazon Customer
Clearly a seminal work because of its integrative perspectives on the subject. Well written; easy to follow; and avoids a lot of the complexities of a standard textbook on the subject. I will use it a my text in teaching a doctoral course for engineering managers at George Washington University.
See all 5 customer reviews...
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