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Patents and Teams. Superlens Bretley Hanson Carol Leibinger Jered Wikander. New Drug Delivery Sarah Fister Jimmy Neyhart Carly Stoughton. Bird Flu Test Christopher Bush Kevin Irish Kyle Winkler . Expander/Compressor
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Patents and Teams Superlens Bretley Hanson Carol Leibinger Jered Wikander New Drug Delivery Sarah Fister Jimmy Neyhart Carly Stoughton Bird Flu Test Christopher Bush Kevin Irish Kyle Winkler Expander/Compressor Greg Beamer Katherine Herman Alex Polvi Dan Skotte Printable Electronics Nate Edwards Adam Ivey Tim Louden Evan Sekulic
Inventors and Mentors • Superlens- Alexander Govyadinov (inventor), Loreli Fister (mentor) • Bird Flu Test – Manoj Pastey (inventor), Rob Schneider (mentor), Sukanya Rengaswamy (mentor) • Novel Drug Delivery- Mark Christensen (inventor), Gordon Shadle (mentor) • Expander/Compressor- Richard Peterson, Tom Herron (inventors), Dan Whitaker (mentor), Todd Miller (mentor) • Printable Electronics- Alex Chang (inventor), Chris Oriakhi (mentor)
Team and Patent Assignment- Appeal Process • Everyone received one of their top three choices • Teams and patent assignments were made attempting to balance the skills of individual team members as much as possible • If you are not satisfied with your team or assignment, you can appeal one of three ways • find someone on another team who wants to switch • if all team members agree, you can select another patent from the OSU portfolio (with TTO approval) • come see me
Next Steps • Meet with your team today to plan • Commercialization Ideas-initial thoughts on marketing approach and challenges • Marketing Research- Detailed questions to answer to develop a commercialization plan • Group logistics- Roles, communication, meeting times and locations, holding each other accountable • Contacting mentors and inventors- who will call, meeting times & locations, and questions to ask them
Questions??? Concerns ???
Commercialization Options- • As you develop your commercialization strategy, you will need to consider four related decisions: • Commercialization approach- spinoff vs licensing • Form of your offering- product, service, “razor blade” model, • Position in the Value chain- where are there profitable openings? • Risk vs benefit- harvest the “low-hanging fruit” or plant a new tree? • Decisions for each will depend upon • The nature of your intellectual property • Effective market research- KNOW YOUR CUSTOMER, MARKET, AND COMPETITION!
Commercialization Options • All IP under consideration is “owned” by OSU, which as a public entity cannot run a for-profit enterprise • Fundamental possibilities are • Spin-off: Start a new company from the ground, OSU transfer rights to the company to market products or services based on IP • Cash or Equity stake? • License: Identify an established company which could benefit from use of IP to improve its product, reduce costs, etc. Sell a license to use OSU IP. • Exclusivity? • License fee, based on enhance revenue, or other approach?
Spin-Off or License ??? ???
Form of Commercial Offering • Be creative in defining your market entry! • There are many ways to extract value from intellectual property • Consumer product • Consumer service • B2B product or service • Host unit and replacement model • Etc • This is where you can add the greatest value! You have a very different perspective than the inventors
Positioning in the Value Chain Value chain: “The activities that one undertakes to deliver a product or service” Identify the best entry points into the value chain that offered by your IP which * Have a low barrier to entry * Can be protected with existing IP * Have perceived value to customers (this can be the consumer or other businesses- B2B) * Are profitable!
Risk vs Benefit • Know the risks in your commercialization plan, and the level of risk your sponsor will tolerate • Be up-front about the risks and address them whenever possible! • Types of risk: People, funding, infrastructure, technology, market acceptance, regulatory issues, schedule… • Risk is not always bad! However avoid risk without a corresponding benefit • Is there a less risky way to achieve the same benefit • Keep a list of risks and contingency plans • Know the “project killers” and track them