Seminar on innovation, valorization &

technology venturing
Session 1: “Innovation, technology transfer and
valorization models: an introduction”
UC3M (Madrid), 31 of January, 2014
1
Index
1.- General objectives and agenda

2.- Who I am
3.- Content:

3.1- Session 1: Innovation, technology transfer and valorization models…

3.2- Session 2: Commercialization and negotiation of technology opportunities

3.3- Session 3: Start ups creation and acceleration (I)

3.4- Session 4: Start ups creation and acceleration (Ii)

4.- Conclusions

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1
GENERAL OBJECTIVES AND
AGENDA

3
 General objectives

• Explain the fundamental models and paradigms on innovation

and technology transfer.
• Introduce the basis of technology valorization as a way to bridge
the gap between the “academia” and the market (industry).
• Set up the basis of technology commercialization: the important
factors are the market and customer, not the technology itself.
• Get familiar with the entrepreneurial management concepts:
lean methods and its application to start-up creation and
technology venturing.
• Creativity is the basement of innovation, some introduction in
that topic will be taught: application of “Design Thinking”.

4
4
Agenda

5
5
2
WHO I AM

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 i-deals: intermediation in technology markets

i-deals is established as a pioneering technology broker model with the objective of

valorizing research to promote its commercialization and funding.

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 Our services

The activity carried out by i-deals consists of selecting technological innovations,

valorizing them, attracting funds and/or partners and, finally, defining its
commercialization process in those cases where this is possible.

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3.1
SESSION 1: INNOVATION, TECHNOLOGY TRANSFER
AND VALORIZATION MODELS: AN INTRODUCTION
 Objectives and agenda
 Content:
• L1.0: Innovation & technology transfer models
• L1.1: Valorization: key elements
• L1.2: Technology market positioning
• L1.3: Customer segmentation / value added proposal
 Conclusions

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3.1
OBJECTIVES AND AGENDA

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 Specific objectives

• Understand the basis of innovation and technology transfer:

Which ways has the academia to connect with the market? Case
studies of successful technology transfer models.
• Get into the basis of technology valorization principles: key
aspects to be considered.
• Define the process to select a target market and learn how to
determine a tentative price for your technology: the importance
of benchmarking.
• Learn how to position your technology and its possible evolution:
looking for a market niche.
• Define how to determine the value that a company receives from
your technology: the value equation and its variables.
Seminar on Innovation, technology transfer and valorization models 11
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3.1
SESSION 1
L1.0: INNOVATION & TECHNOLOGY
TRANSFER MODELS

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 Some basic concepts

 Research transforms money in ideas

 Innovations transforms ideas in money
 Entrepreneurship transforms ideas in successful new companies

Seminar on Innovation, technology transfer and valorization models 13

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 EU Innovation scoreboard 2013

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 EUIS 2013: 5-year evolution

Seminar on Innovation, technology transfer and valorization models 15

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 Spain must improve

Seminar on Innovation, technology transfer and valorization models 16

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 Our profile (WEO 2013-2014)

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 The Open Innovation

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 The strength of the net

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 Googlelization

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 To know more

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 Innovation in practice: technology transfer & venturing

The connection between the innovation producers (academia) and

consumers (companies) is achieved by following different technology transfer
models.

This presentation will explain in detail:

• The patents and licenses models.

• The spin-offs approach.
• The collaborative projects.

Additionally, 7 case studies will be presented:

Seminar on Innovation, technology transfer and valorization models 22

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 Technology Transfer Models: Patents and licenses
Both the continental Europe (European) and English system (USA, CA, etc., included) provide
legal frameworks that encourage the researchers to generate transferable assets as patents to
be licensed, know-how transfer and spin-offs cration.

English framework European Framework

 The research center maintains the ownership

 The European framework is more reactive
General Framework

of the IP generated.
towards IP commercialization and less
 The inventor must report any invention and market orientated.
collaborate in their protection.
 The IP competitiveness is enhanced by
 The research center proactively public dissemination and the “best offer”
commercialize the innovation and the market award.
sets the price of the IP.
 The participation of the inventor in the
 The inventor will participate in the income
income distribution depends on the each
distribution following the conditions
specific situation.
determined by the center.

Net royalties distribution in Harvard University:

References

 Inventor: 35%.
 Research group: 15%.
 Inventor’s department: 15%.
 College participation: 20%.
 President participation (University globally): 15%

Seminar on Innovation, technology transfer and valorization models 23

 Technology Transfer Models: Spin-offs

The creation of spin-offs in Spain is included in the Law on Science, OTRI framework
Technology and Research.
Spanish Framework

 Researchers can own more than 10% of a spin-off.

 Technology Transfer as a competitive process: Each university decides Spin-offs creation:
its competitive model. A “necessary evil”
 Researchers can serve part-time in spin-offs created from patents or
research results and promoted by its center (in case there is no
incompatibility).
 There is a possibility to apply for a leave of absence to develop a spin-
off promoted by the center. Spin-offs creation:
 The creation of spin-offs from research centers aims to support the Opportunities
entrepreneurial researcher from the center and protect the rights of the
center by a minimum royalties on sales.

Compensation scheme of royalties on sales of a Spanish center R&D leader in their area of ​expertise:
References

 Sales from 0 to € 50,000: € 2,000 Minimum Royalties

 Sales from € 50,000 to € 200,000: 4%.
 Sales from € 200,000 to € 500,000. Royalties as in previous point and 3% for sales > € 200,000.
 Sales from € 500,000 to € 1,000,000. Royalties as in previous point and 2% for sales > € 500,000.
 Sales over € 1 million. Royalties as in previous point and 1% for sales > € 1,000,000.

Seminar on Innovation, technology transfer and valorization models 24

 Technology Transfer Models: Collaborative project
The results distribution of R&D projects with companies are different when comparing the European and the English
models. In the former, the research center keeps the IP; in the latter, the distribution depends on the contribution of each
parties

European Model English Model

Terms: The company provides funding to the research Terms
center to carry out an R&D project without, in general, public
Research
Contract

The company totally or partially sponsors

Research with a third party

sector contribution.
Determining ownership of results: The financier gets
100% of the rights to the results of the project. The
intellectual property provided by the center shall remain in
the center.
Collaborative
an R&D project.
Determining ownership of results
The research center keeps the IP rights
generated in the project and supplied for the
project, giving the company the possibility of
licensing under favorable terms.

Terms: The company agrees with a research center to

Research

carry out an R&D project. Both parties will collaborate in the

project and keep each patent property or any other assets.
Determining ownership of results: Generally, the IP
produced belongs to the entity that has generated. It is
possible to reach private agreements.
References

The J. Craig Institute will manage any protectable asset through patenting and licensing to a third party who has collaborated
with financial contributions. The net royalties obtained will be distributed as follows:
 Inventor: 35% of the royalties up to U.S. $ 100,000, 33% between $ 100,000 and $ 500,000 and 25% from U.S. $ 500,000.
 Center: The center will allocate the remaining income to educational activities and R&D activities.

Seminar on Innovation, technology transfer and valorization models 25

 Example 1: TT Models: Spin-off creation Blue Zenix

A way to address technology transfer is the

creation of a joint venture between R&D Exploitation of assests
centers and private sector. This joint Lisensing
venture will generate patents and know-how spin-offs
Economic contribution Contribution in kind
that will be commercialized through a new (75% del capital)
corporation. (25% of capital)

The corporation will be composed of the

research center providing IP assets and Income from
know-how; and the investors through exploitation
I+D
financial contributions. This corporation Funding resources
will license the patents generated. Private investors
The profit generated from the Industrial investors
commercialization of licenses and / or Capital risk
through financial yields in spin-offs will be
distributed as dividends according to the Dividends
distribution of capital. Revenue from 75% Dividends
royalties derived from patents will be 25%
distributed according to the distribution of
Compensation
IP. Economic
rights
This scheme has been followed in the Blue
Zenix project promoted by the University Capital
Clinic of Navarra and the Technical
Research Centre of Guipúzcoa. The Economic Interest
project’s main objective is to commercialize Grouping
the IP generated in these centers in the field R&D funds
of bioengineering.

Seminar on Innovation, technology transfer and valorization models 26

 Example 2: TT Models: Spin-off creation Digna Biotech
Spin-off for patents
Research Center
commercialisation

Institutions and companies fund research activities
 CIMA was initially funded through a research
and technology transfer contract with 15
institutions and national companies.
 Researchers could also apply to grants for
certain projects.
 In the mid-long term, it is expected that CIMA
could be funded by the income obtained from the
commercialization of its patent portfolio.
 Biotechnology company that aims to develop
research results. It was created to carry out the
possible application of the research process in the
treatment or diagnosis field.
 It detects CIMA research results at an early stage
and protects them.
 Subsequently, DIGNA is responsible for preclinical
studies, clinical trials and documentation processes.
 DIGNA BIOTECH focuses on the development of
research, search for business partners and
achieve productive partnerships for the patents
development.

DIGNA BIOTECH’s business model

 It is a biotechnology company focused on the development and exploitation of CIMA research products
through preclinical and clinical development of the IP generated by its researchers.
 It is a joint venture between CIMA and a group of investors (Spanish large companies, financial institutions
and regional government agencies).

Seminar on Innovation, technology transfer and valorization models 27

 Example 3: TT Models: MIT

 Center established by MIT School of Engineering in 2002.

 It aims to increase the impact of technologies developed at MIT in the market.
 Participation of students, entrepreneurs and investors.
 Its technology fields are: biotechnology, new materials, "tiny tech" and energy
innovation.

More than 90 projects have

26 companies have been been funded with a total of
funded. They generate 300M 11M USD
USD and provide more than Any technological innovation that
400 jobs meets a market need is a
candidate to support the center.

More than 500

proposals have been It aims to reduce the innovation gap by
valued eliminating the fear of risk , the lack of funds and
the disconnection between academia and market

Seminar on Innovation, technology transfer and valorization models 28

 Example 4: TT Models: OTRI

OTRI’s specific objectives

 Created in 1988 as structures to promote and facilitate
cooperation in R&D activities between researchers  Promote the participation of the
and companies. university community in R&D activities.

 TTOs position themselves as intermediaries in the  Development of a knowledge,

science-technology-company system. Their mission is infrastructure and R&D offer database.
to promote the relationships between these agents.
 Identify the results generated and
 TTOs aim to identify technology needs and promote evaluate their transfer potential.
technology transfer between the public and private
 Facilitate the transfer of the results from
sector.
academia to companies.
 There are 232 TTOs; one per university and per public
 Report the different R&D programs.
national research center.

Seminar on Innovation, technology transfer and valorization models 29

 Example 5: TT Models: UPV-CTT

 The Scientific Culture Disclosure Unit of the Polytechnic CTT basic services
University of Valencia started in 2007.
 Identification and dissemination of R&D
 Its purpose is to promote connection between science programs.
and research and society through the dissemination
of the R&D activity carried out by the institution. The  Management of subsidized R&D
knowledge transfer from different UPV’s research centers activities.
to society is also promoted.  Management of technology demands.

 University and companies have launched a number of  Registration, protection, promotion and
services in the field of technology transfer (techno commercialization of R&D + i results.
audits, meetings, newsletters, technical conferences),
 Advice, establishment and monitoring
employment (internships and hiring of graduates) and
of scientific congresses.
training (ad-hoc for companies).

Seminar on Innovation, technology transfer and valorization models 30

 Example 6: TT Models: AIMPLAS

 AIMPLAS is a Centre of Innovation and Technology (CIT) Relevant information

located in Valencia (Spain).

 AIMPLAS started in 1990 as a national and international  60% of the companies are located in
nonprofit research organization. Valencia; the other 40% are located in
Spain.
 AIMPLAS aims to promote direct contact with  Technology partner of 2.300
companies within the plastic sector in order to identify companies.
their needs and determine specific actions to satisfy  475 associated companies.
them.
Services offered:
 AIMPLAS offers an integral and personalized solution  Laboratory.
for companies by coordinating technology services  Technical information.
(testing services and laboratories) and R&D + i projects.  Training course.
 Technical advisory.
 AIMPLAS promotes and coordinates the acquisition of new
technologies, in terms of both equipment and knowledge,  R&D+i projects.
to satisfy current and future sector needs.

Seminar on Innovation, technology transfer and valorization models 31

 Example 7: TT Models: technology brokerage

Actions to provide funds to projects, compare

i-deals aims to the select promising the project with existing alternative solutions and /
technologies and create a technology or advise in the process of creating the "new
portfolio to actively bring these business"
innovations to the market acting as
technology broker

Valorization Support the development Comercialization

Benchmark innovations within the market, Supporting technology based companies,

obtaining key information about the spin-offs, research organizations and
usefulness of the innovation and its market universities in the commercialization of its
price technology portfolio as a sales partner

Colaboration Valorización Apoyo al desarrollo Comercialización

models Contract

Success Fee on financing obtained

Commercial partner

Success Fee on sales

Options over shares in the company

Seminar on Innovation, technology transfer and valorization models 32

3.1
SESSION 1
L1.1: VALORIZATION: KEY
ELEMENTS

33
 Concepts to be considered

• We are not evaluating the scientific relevance

of an investigation, we are evaluating its
commercial potential.
• The commercial possibilities of a technology
are not defined by the fact of being
patented.
• The value of a technology is defined by the
market: it will determine who and how much
a potential customer is willing to pay.
• In general, the connection with the market is
not direct: agents are needed to support
technology transfer activities.
i
Nowadays, technological entrepreneurship (Technology Venturing) is starting
to catch more attention than technology transfer.

Seminar on Innovation, technology transfer and valorization models 34

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 Valuation vs valorization

• Something is valued when there is a measurement instrument to

compare with. In case of innovative technologies, there is no measurement
instrument or standardized pattern…therefore…we have “to imagine” it.
• To have the solution of a problem is not a sign of value…it means that
you have a value added activity in comparison with others.

It seems to be a
differential
activity… but how
much is it worth?

i
The only way to determine the value of your core activity is to benchmark it
within the market.

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 Before starting the commercialization activities…
…our research results should be benchmarked within its
potential market in order to determine its value. In addition,
the technology should be analyzed regarding the
technology itself, its business model and its commercial
planning: 3 VALORIZATION PROCESSES ARE
NEEDED!!
1. Technical valorization: analyze the value added provided by your
technology, its viability and state of development, and the possibility to be
reviewed by a independent third party.
2. Business valorization: identify a viable business model…how, when and
where are you going to make money?
3. Commercial valorization: design a draft commercial plan and start the
benchmarking of the technology within the potential market.
i
The combination of the three valorizations will show the potential of converting
a research work into a business opportunity.

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 Valorization Methodology: What do we have to analyze?

The valorisations carried out by i-deals always focus on 5 key areas, in a way that if a
single one of them is not satisfactory, the transfer or the application of the technology is
not feasible:

Team: existence of a team skilled in each of the disciplines involved in the project,
Team not only in the technological sense but also in business management and sales.

Know-how: existence of a compelling technology or knowledge, capable of being

Know-how
adequately protected.

Value-added Value-added applications: existence of significant commercial applications that

applications
respond to clear needs in an efficient and an innovative way.

Adequate
transfer Adequate transfer mechanism: existence of a business plan or a suitable
mechanism transfer mechanism to take the technology to the market.

Connection
with the Connexion with the marketplace: existence of a clearly defined market with an
marketplace adequate size and segmentation for the commercialisation of the technology.

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 General recommendations

1 The commercial potential of a technology is the

Focus on technology result of the combination of three factors:
omitting commercial
capabilities A. Human resources
B. Know how Market
C. Value-added applications Constraints

2 A
A technology market
A balance between A, B y C will
positioning
influences its
lead to attractive market B C
niches.
commercial strategy

Attractiveness
Market constraints (legal, economical + B
A
C
Technology transfer issues, etc.) influence the technology
is influenced by the applicability and subsequently, its -
market constraints commercialization process.
- +
Competitiveness

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 Case 1: Valorization of a TIC/electronic solution
Objective: Valorization of a TIC solution within the microelectronic technology field

Brief description of the technology:

• It is a chip designed to measure current.
• It measures current directly, without additional charges (Shunt).
• It does not need external passive components to measure. It
involves fewer components and a simplification of the systems
where this innovation is implemented.
• It provides with a more accurate measurement of the current
passing through the circuit because the mentioned circuit does not
modify the current. As a result, a minimum number of current Adder
measurements will lead to a maximum reliability.
• Different output formats are available: current output, frequency
modulated output, voltage output, digital output or wireless output. Copy component

Work in groups:
(1) Identify possible potential markets where the technology could be applied.
(2) Define how to transfer the technology taking into account that:
 The technology has been patented.
 The technology has been developed by a university research team without the necessary capability to carry
out commercialization activities.
(3) How can we define a tentative price?
Seminar on Innovation, technology transfer and valorization models 39
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 Case 1: Valorization of a TIC/electronic solution

Once the possible potential markets are defined…

The only way to determine the value of an innovative technology

is to benchmark it within a potential market!!!!

… the process can be complex and divided into different stages:

Feedback
3a The selected
gathering
market becomes a
Define a Benchmark the target market
1 2
potential target technology within the
market selected market*
* Present the technology to experts in the field 3b
Pivot

Start again the process

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 Case 1: Valorization of a TIC/electronic solution

The microelectronic market value chain is as follows:

Raw Chips and Printed circuit

Other
materials semiconductor boards (PCB)
applications
suppliers manufacturers manufacturers

…after the benchmark…

The recommended ways to transfer the
The target markets are: technology are:

 Generic chips manufacturer.  License the patent to a target customer within

 Specific electronic equipment
manufacturers that require chips
with the described capability of
measuring direct current.
the microelectronic equipment manufacturers.
 A collaboration project with a commercial
partner with the objective of continuing the
development of the technology.

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41

The value of your
technology is the value
perceived by its potential
customers, the rest is truly
unimportant
Key ideas
Know your market, identify
your potential competitors,
think about who, how and
when your technology
might be bought

Seminar on Innovation, technology transfer and valorization models 42

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3.1
SESSION 1
L1.2: TECHNOLOGY MARKET
POSITIONING

43
 Segmentation criteria

Protected market niche Competition in

Value-added technology technology
protected by significant Value-added technology
entry barriers against without protection
competitors against new entrants
Attractiveness + 1 2

- 3 4
Minority market niche Competition in costs
Technology of limited Undifferentiated product
scope and unable to - + or service with intense
attract new entrants Competition competition in costs that
makes it unattractive

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 Market positioning: key elements

Technological Identify competitors

alternatives already and their value
in the market proposition
Substitutes Competitors

Level of
competition in
the sector

Clients

Investigate and segment

potential customers

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 before going on...position your technology!!!!

Stop fighting with

Highly competitive competitors
market

The recommendation is
that whenever possible,
one should seek a niche
positioning

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 Segmentation criteria: First scenario

Description

Attractiveness
• This is the most desirable scenario. The + 1 2
product/service shows significant differences
with respect to other existing technologies and
adds value to a specific market segment. The
solution is difficult to be replicated. - 3 4
• This is an untapped market niche with
innovative technologies.
- +
Competitive evolution Competition
The existing market barriers will influence the evolution of the competitive positioning of the
technology:
• If the technology is protected by a patent:
 The market niche could be considered as a protected market.
 There will not be appreciable variations within the competitive position of the technology.
 It leads to an attractive return for the innovation producer.
• An attractive and non protected market niche involves the entrance of new competitors
and therefore the evolution to the second quadrant.
• A market sector with high competition could produce a quick technology obsolescence. It
will involve the entrance of new competitors and therefore the evolution to the third quadrant.
Seminar on Innovation, technology transfer and valorization models 47
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 Segmentation criteria: Second scenario

Description
• Attractive market segment regarding margin

Attractiveness
or growth that catch the interest of new
competitors.
+ 1 2
• A continuous product development is
required: technical and costs improvements.
• There is no technology that offers a - 3 4
significant added value in comparison with
others. It increases the competition in costs in
- +
order to reach market share.
Competition
Competitive evolution
The degree of technology development and the entry of new competitors will define the competitive
positioning of the technology:
• The combination of improvements on the product/service value added characteristics and
an adequate protection will move the technology from quadrant 2 to quadrant 1, while the
other competitors will continuing competing in costs.
• In case no product / service offers innovative solutions, the market will lead to a “comfortable
position”. In this context, new entry competitors, focused on competition in costs, will
reduced their profit. The evolution of the market will be forced to the fourth quadrant.

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 Segmentation criteria: Third scenario

Description
• Minority market niche in which new
competitors are not interested because of its

Attractiveness
small size, its constraints or the specific + 1 2
technology demanded.
• Market segment created on the basis of a
specialization on minority products / services
or an output of competitors that have driven - 3 4
their strategy to market niches with high growth.

- +
Competition
Competitive evolution
The evolution of this market could be as follows:
• The increase of either the product portfolio or the product / service usefulness (by
including value added characteristics) will make the technology evolving to quadrant 2
where the demand is higher as well as the risks associated with a competition in costs.
• The increase of the product portfolio or the commercial strategy reorientation without
including new value added characteristics will make the technology achieve bigger markets
with higher competition in costs (fourth quadrant).

Seminario
Seminar onde
Innovation,
valorización
technology
tecnológica
transfer and valorization models 49
49
 Segmentation criteria: Fourth scenario

Description

• Unattractive situation where a technology is

Attractiveness
+ 1 2
competing with undifferentiated products /
services with intense competition in costs,
• Low entry and exit barriers that allow new
competitors to reach the market. - 3 4

- +
Competition
Competitive evolution

This is the most complex scenario because an increase in cost competition or improvements in the
value added characteristics of products / services will force competitors to move to other
scenarios:

• The development of value added products will involve the evolution to quadrant 2.
• A market size reduction or the specialization on minority market niches with lower competition
in costs will involve the evolution to quadrant 3.

Seminar on Innovation, technology transfer and valorization models 50

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 Example: Robotic surgical system

Description
• The system is composed of several robotic arms with parallel structure which are remotely
controlled from a surgeon console. The number of robotic arms can be scaled depending on the
surgery. The system features an automated quick tool-exchange system that can also be used in
other minimally invasive surgery applications as well as other robotic systems.
• Advantages: small size, low acquisition costs, low operational costs, low change costs, etc.

Market Description Market positioning

• The market is led by the Da Vinci system:
unique commercial system, capable of
performing multiple interventions (basically
urology and gynecology).
• Da Vinci has installed more than 1.400 Uds.
• Compete in the market niche of low costs
surgical systems and afterwards compete in
the market covered by Da Vinci.

Attractiveness
The average price of this system is + 1 + 1 2 2

Atractivo
between $1,5 and $1,75 M, with a
maintenance cost of $100 K per year.
- -
• The endoscopic surgery market reached
2.300 million in 2010. - +
- Competition +
Competencia

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 Example: Urban toll management system

Description
• Wireless Sensor Network (WSN) based on urban toll management system coupled with
camera enforcement. The system allows variable toll charging according to the areas where the
car drives through. The wireless network deployed can also provide other services.
• Advantages: Low cost on-board units, progressive toll charging and the possibility of using the
wireless network for other purposes such as smart-metering.

Market Description Market positioning

• Highly competitive target market regulated

• Target customer: city councils with more than
under DSRC and / or GNSSN standards.
100.000 inhabitants that are subjected to
Sustainable Urban Mobility Plan.

Atractiveness
• Biggest interest: Big cities with more than + 1
500.000 inhabitants. + 2
• Three technologies are used in toll
management: DSRC (Dedicated Short Range -
Communications), GNSS (Global Navigation - +
Satellite System) and camera systems. Competition

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 Example: Techsoil – consulting and development

Description
• Consulting service focused on obtaining Techsoil to be applied in degraded lands and the
restoration of quarries, mines or landfills.
• Waste analysis and characterization in order to be used in soils or for biomass making.

Market Description Market positioning

• Competition with extractor companies.
• Quarrying companies: cement (22 • The product has no distinctive added value 
companies operating in the sector), concrete competition in costs.
manufacturers (436 companies).

• Mining Companies: Extractive mining

Attractiveness
2
1+
1
companies (National Association of Extractive + 2

Atractivo
Industries has 60 members), energy mining is
another opportunity. 2
- -
• Landfills Managers (over 400 legal landfills). - +
- +
Competition
Competencia

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 Assignment 1: Market positioning  IT solution (Biotech)
Objective: Determine the market positioning of an IT solution applied within the
biotechnology market
Description
Technology description: Biotech project manager
Team description: Reliable team with extensive knowledge in regulatory compliance in
the biotech technology field.

Market Description / Competences Market positioning

• Large and multiple biotechnology project management

+ 1
? 2

Attractiveness
solutions (they often have an inefficient compliance module).
• Compliance consulting. - 3 4
• Internal specialized professionals. - +
Competition

Work in groups:
(1) Taking the provided information into account, define the market positioning of the technology.
(2) Define the competitive evolution of the technology:
 Define specific actions to be carried out in order to improve its market positioning.
Seminario
Seminar onde
Innovation,
valorización
technology
tecnológica
transfer and valorization models 5454
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The value of your
technology is the value
perceived by its potential
customers, the rest is truly
unimportant
Seminar on Innovation, technology transfer and valorization models
Key ideas
Know your market, identify
your potential competitors,
think about who, how and
when your technology
might be bought
Establish your positioning
and assume that you
could soon be pushed out:
the positioning is dynamic,
but keep trying to find your
niche
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3.1
SESSION 1
L1.3: CUSTOMER SEGMENTATION /
VALUE ADDED PROPOSAL

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 Segmentation – The “value equation”

The value received by a client on any purchase can be simplified by the "value equation”(*)…

Product + Service + i
What do I get? You only attain full
Brand
Value received = loyalty from a
client if the "value
Price + Uncertaint. + received" is >> 1
What do I pay? Discomfort

In the specific case of the valorisation of innovation, the equation can be reduced to ...

Attractiveness of the • Price is not a problem (it is sure to be competitive)

Product and the brand does not exist  they tend to zero.
Value received ≈
• The service shall be everything it needs to be to
Uncertainties resolve any possible discomfort  they cancel out.

Seminar on Innovation, technology transfer and valorization models (*) Profesor Cossimo Chiesa, IESE 57
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 Segmentation – “My precious” dilemma

Are you as good

as you think you
are?

Seminar on Innovation, technology transfer and valorization models 58

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 Assignment 2: value proposition  seismic isolator
Objective: Define the technology value proposition using the “value equation”
Brief description of the technology:
The technology consists of a seismic isolation system that
maintains the structure integrity, minimizing the damage
suffered in an earthquake.
Key areas analysis:

Reliable, with vast background and business orientated.

Value added product difficult to replicate in the short-term.

Improvements regarding other devices.

The IP is not well protected.

It exists and is growing. It is a complex market driven by existing and well

known technologies.

Work in groups:
(1) Define the technology value proposition (taking the “value equation” into account).
(2) Determine how to achieve the desired result >>1.

Seminario
Seminar onde
Innovation,
valorización
technology
tecnológica
transfer and valorization models 59
59
 Key ideas
Know your market,
identify your potential
competitors, think about Establish your positioning
The value of your who, how and when your and assume that you
technology is the value technology might be could soon be pushed out:
perceived by its bought the positioning is
potential customers, the dynamic, but keep trying
rest is truly unimportant to find your niche

Work on all those aspects

that generate
uncertainties within your
customers and find your
way to a segment in which
you are most attractive

Seminar on Innovation, technology transfer and valorization models 60

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3.1
CONCLUSIONS

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 Session 1: Summary and conclusions  final notes

Valorization is a process that always requires going to the

market, forget about models for assessing patents of products’
value.

The value of a technological solution relies only partially in the

technology itself: the team, differential applications, the market
size and an appropriate vehicle are equally important.

Be humble: your technology value is based on others’

perceptions.

Focus on working out all your proposal’s uncertainties: this is

the point that concentrates most of your prospective
customers’ concerns.

Seminar on Innovation, technology transfer and valorization models 62

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¡¡Muchas gracias!!

Ángel Sánchez (@asanchezd)

Director
angel.sanchez@everis.com
i-deals.es
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