Commercializing Your Technology

This section of the Idaho Small Business Development Center website is again intended for people who are bringing an invention or technology to market, not the more typical Idaho SBDC client whose business is retail trade or services.

FIRST PRINCIPLE: MATCH TECHNOLOGY WITH APPROPRIATE MARKET NEEDS In other sections we advised in some detail about idea assessment, planning, and research-and-development (R&D) steps that precede production and actually getting a technology-based product to market. In case you missed those steps and came directly to this page, let us offer the opportunity to reconsider: What to do with an idea, emphasizing the need to make sure there is a market Get an assessment of the technology, market, and prospects for profitability Patents and protection of intellectual property Prototypes and technical assistance Finding seed money for research and idea development and the all-important post-R&D decision: whether to license, partner, or venture SBIR and STTR grants, the best single source of seed $$ IF it fits

In this section we want to touch on a handful of additional topics that may be helpful in getting beyond the R&D stage:

• Focus on, research, and prepare a Commercialization Plan early on -- before fretting about creating pro-forma financial worksheets, organization plans, resumés, marketing details, and other "business plan" items.
• Networks and forums, getting beyond yourself
• Business Incubators that help launch a budding firm
• Manufacturing assistance available through Idaho's non-profit TechHelp?
• Other economic development assistance
  
  At the risk of being repetitious, we once again mention the admonition to "know thyself." In this context that means decide where your expertise and interests lie: do you really want to take on the full range of challenges in manufacturing and marketing your own product, or is research and product development your preference?
  
  Web Links and books to guide your thinking about commercialization
  
  

  1. Making Money with Your Technology: a Guide to Commercial Success by Richard J. King 
  2. The Commercialization Challenge: Lessons from Venture Capital by Jay E. Paap
  3. From Invention to Innovation by Mohawk Research Corp. for U.S. Dept. of Energy
  4. The Licensing Decision by Licensing Executives Society for U.S. Dept. of Energy
  5. Business Planning for Scientists and Engineers by Jenny Servo, Dawnbreaker Press for U.S. Dept. of Energy and available from or Dawnbreaker
  6. Product Design and Development a commercial site of Robert Q. Riley
  
  
  Commercialization Plan
  Networks and forums
  Business Incubators
  Manufacturing assistance
  Other economic development assistance