Commercialisation is the end goal of the innovation process it is the stage at which the strongest innovations, having been carefully selected, assessed and managed, are converted into commercial value.
Our objective when working with clients on commercialisation projects is simple: create wealth for our clients.
There are two key stages to commercialisation: planning and execution.
Planning involves the development of a comprehensive commercialisation strategy that will guide the project from its current state to generating its first revenues, then onto the expansion stage.
There are three key models of commercialisation: sale, license, and manufacture & distribution.
Sale: You may wish only to package and sell your intellectual property. This minimises resource requirements and is particularly suitable to a strong patent position that is not aligned to your core business focus. While this low-risk strategy generally provides a fast return, it typically has a low potential for generating wealth.
License: Conversely, you may wish to license your intellectual property. This may involve packaging a trademark, manufacturing process and patent position to create a strong commercialisation position and then targeting large global distributors where there is good strategic fit. This is typically a medium-risk / medium-return approach.
Manufacture and distribution: You may plan to manufacture and build a brand for a specific regional market or to set a "go global" strategy from day one. While potentially offering higher rewards, this strategy is also typified by higher risk and a slower rate of return.
Within each model there are many different commercialisation strategies. No matter whether you are aiming globally or locally, EverEdge IP can work with you to develop a commercialisation strategy that will guide you through the most effective and most commercially successful route.
Execution involves converting the commercialisation strategy into action it is the doing phase of the commercialisation process.
Unlike many providers, we roll up our sleeves and work alongside our clients during the execution phase, assisting to execute the commercialisation strategy based on our long experience of successfully commercialising our own technology portfolio.
Execution involves project plans, milestones, tasks, prototype development, market presentations, customer feedback everything required to bring your technology to the point at which a customer will make the key decision to buy. It is both exhausting and exhilarating, and it is where most ventures succeed or fail.
The risks are great but the rewards are enormous if execution is managed correctly - which is why having a partner like EverEdge IP alongside makes all the difference.