Answered You can buy a ready-made answer or pick a professional tutor to order an original one.
Prompt Prepare a 3-4 page memo outlining your commercialization plan for your sample technology. An outline for the plan is provided below, and your memo should address important questions about the v
- Prepare a 3-4 page memo outlining your commercialization plan for your sample technology. An outline for the plan is provided below, and your memo should address important questions about the value created, the method of value capture, the business architecture, and the resources needed to bring your technology to market. Feel free to reuse ideas or content you created in earlier assignments (Sections 2 and 3).
- Memo Sections and Questions
Your memo should include the following:
- Part 0: Summary
- Please provide a 2-3 sentence summary of your business.
- Part 1: Technology and Market Fit
- Technology overview: Describe your chosen technology, the principles behind how it works, and what different functional applications it may have in multiple industries.
- Customer overview: Describe your target customer, the problems that they face (if possible, in quantified economic terms), and the scale of the problem overall.
- Value proposition: Clearly state the solution (product/service) you are offering your customers, and how your technology enables this solution.
- Market overview: Translate your findings of the customer’s problems to an overall description of the market (including the size in terms of the total number of customers, and any structural characteristics – i.e., is it concentrated in any geographic location, is it a monopolistic industry, etc.).
- Intellectual Property and inimitability: Is your chosen technology patent protected? Are there other protections that will ensure that others cannot copy your solution?
- Part 2: Business Architecture
- Value creation: List all the benefits that your customers derive from your product or service. Quantify such benefits where possible (there are broadly three kinds of benefits – economic, i.e., savings in time and money; experiential, such as improved user experiences; and social, i.e., benefits such as network effects). How is your solution different from existing solutions?
- Value capture: Provide a description of how you will capture the value created by your technology, i.e., what model you are employing to sell to your customers and earn revenue?
- Structure: Is your solution a platform, product, or service? What channels will you use to sell to your customer, and what partnerships would you need to sell? What partnerships would you need to manufacture or enable that your service/product/platform can be manufactured or developed into existence?
- Capabilities: What particular knowledge, skills, and abilities does your team have (or need to acquire) to enable your business model? Please describe how these capabilities are difficult to replicate by others?
- Assets: Please provide a brief and high-level description of the particular assets you would need to enable your business and operating model (including any capital equipment, data assets, hardware, or infrastructure assets that you would need).
- Part 3: Resources and Path to Market
- Human resources: What role (CEO, CTO, etc.) would you play in this potential company? What experiences and skills enable you to play this role? Provide a brief description of the key personnel you would need to hire (their required skills and backgrounds) to complete your initial team. An ideal team has complementary skill sets and bring expertise that enables experimentation in a venture.
- Milestones: What is the next step for your venture? What are the key sets of questions you hope to answer in the immediate next stage and how would you do so? If it is through a prototype or pilot, describe the ideal outcomes (in terms of what you would learn).
- Financial resources: Broadly estimate the financial resources you would need to bring your solution to market. What form of funding would you require at the next stage and why would that be the best fit for you (angels, VCs, or non-dilutive funders)? What would this funding be used for specifically?