Let’s go through the Commercialisation PLUS process

The Commercialisation PLUS process is underpinned by commercialisation and innovation systems methodologies and concepts. The process is comprised of three phases and nine key steps. These steps have been grouped into logical phases for decision making, however, the commercialisation process is non-linear.

PHASE A: Discovering industry needs, challenges, and opportunities for technology solutions

The first phase is about building important foundation knowledge by testing and validating assumptions about the market and proving the commercial potential of your technology solution. This phase will help you make decisions around risk, target markets, regulatory obligations, confidentiality, and the intellectual property protection needs for you and potential clients.

PHASE B: Defining your technology solution's value to the market and planning your market launch strategy

The second phase is about developing your plan to launch your technology solution in the market. The process includes developing and validating the value of your technology; planning the path to market; and gaining approval and agreement with industry and key stakeholders.

PHASE C: Implementing and managing your strategy

The third phase is about launching your technology solution into the market and managing it for impact and scale. This phase also focuses on developing your implementation process and reviewing the potential changes (or impacts) in society, the economy and the environment to which your technology solution has contributed as a result of the commercialisation process so far.

The Commercialisation PLUS process has been depicted as a puzzle to emphasise that each step is essential, however just like a puzzle the steps can be completed in different orders to achieve the desired result – yet that every step is eventually completed.

The aim of each piece of the puzzle (or step) is to test and validate assumptions in order to reduce risk and to assist in making evidence-based decisions.

Each step helps researchers understand the different actors in the system (e.g. the customer and the end users), enabling informed decisions about whom to engage and partner with, for the most appropriate path to market to create value and impact.

Step 1: Check commercialisation options Step 2: Refine problem Step 3: Consider legal obligations Step 4: Define value Step 5: Decide path to market strategy Step 6: V alidate strategy Step 9: Evaluate impact Step 8: Manage commercialisation relationships Step 7: Execute strategy

Step 1: Checking the Commercialisation PLUS options for
your technology solution

This first step is about assessing if your technology solution
has a potential market or commercial path to impact, as
opposed to public good or another pathway to impact.

Step 1 aims to help you understand:
a) If your technology solution is at a stage that
you can start considering and incorporating
the needs and priorities of the market into the
research and development process.
b) If similar ideas have already been disclosed to the public.
c) If your research funding permits commercialisation.

Click here to learn why Dr Le Thi Nhi Cong (Viet Nam Academy of Science and Technology) and her team decided to commercialise their technology solution and how they managed any constraints from the funder in pursuing commercialisation as an option.

Step 2: Refining your understanding of the market problems
that your solution is addressing

For most researchers, their effort has been focussed upon the technical aspects of the technology solution to optimise and refine the concept, e.g. functionality and reliability. Step 2 is about switching this focus towards testing various assumptions about why the market would be interested in your technology solution.

Step 2 aims to help you check your assumptions about the market and understand:
a) The value chain that your technology will benefit from,
b) Who in the value chain will benefit and/or be adversely
affected, i.e.potential users /beneficiaries or customers,
c) The potential impact of your technology (triple bottom line),
i.e.: the challenges, opportunities and benefits
to society, the environment and the economy
to which your technology solution could contribute.
d) The challenges faced by the end-user and customer.

Click here to learn how mapping the value chain helped Dr Nguyen Xuan Truong (Viet Nam National University of Agriculture) and his team to better understand the risks and opportunities associated with their business model.

Step 3: Considering your legal and regulatory obligations to protect your Intellectual Property (IP) and legally
launching in the market

Step 3 aims to help you understand the legal and regulatory considerations as well as any requirements associated with use and protection of Intellectual Property (IP) in your technology solution. This step focuses primarily on setting up the foundations needed for your IP Strategy (which is developed and executed in later steps).

A key foundation for successful commercialisation is compliance with local laws and regulations associated with both 1) protecting your IP, appropriately acknowledging use of IP and 2) regulations associated with the market into which you plan to launch your technology solution.

Click here to learn what Dr Le Thi Thu Huong (Viet Nam National University of Agriculture) gained by considering the legal and regulatory requirements before advancing too far in the commercialisation process.

Step 4: Defining and validating the value of your technology solution in the market

Step 4 aims to help you understand:
a) The market opportunity, including the range of value that your solution brings to the market (compared to competitors),
b) The perceived value of your technology solution as assessed by end users and potential customers/clients, and
c) Your path to impact, including indicators, assumptions and potential risks and consequences along the path.

Click here to learn what Dr Nguyen Thanh Tung (Can Tho University) discovered about the importance of understanding the capability of your research team and being responsive to market feedback.

Step 5: Deciding upon and getting approval for your go-to-market pathway

Step 5 aims to support transparent and evidence-based decision making by building an enhanced understanding about:
a) The risks associated with different market pathways,
b) The required collaborators with whom to engage to receive approval for a preferred path to market,
c) The business model best suited to your potential customers and your organisation’s commercialisation goals,
d) If you have freedom to operate, and
e) The best strategy to protect your IP.

Click here to learn why Dr Luu Thai Danh (Can Tho University) believes it is important to have the courage to act on evidence that suggests you may need to repeat a step in the puzzle.

Step 6: Validating your commercialisation strategy with the potential customers

Step 6 aims to help you understand how to:
a) Test and refine your chosen strategy in consultation with the market (i.e. potential customers) to validate your preferred path to market as a viable option, and
b) Identify specific requirements from customers that may influence the execution of your strategy, e.g. exclusive rights to use in a licence.

Click here to understand what Dr Nguyen Hoang Duong (Viet Nam Academy of Science and Technology) discovered about the importance of validating of your preferred Commercialisation PLUS strategy before moving onto its implementation.

Step 7: Executing your go-to-market strategy, including sourcing resources and negotiating conditions for use of your technology solution

Step 7 aims to help you understand how to:
a) Pitch your technology solution to show its value to potential customers/clients and to others willing to invest in your solution,
b) Negotiate conditions of use for different types of IP,
c) Finalise legal contracts that protect your solution,
as well as aligning with your impact goals and organisational/legal responsibilities, and
d) Build partnerships that support your strategy’s goals.

Click here to discover what Assoc. Prof. Tran Thi Dinh (Viet Nam National University of Agriculture) learned about the importance of listening, being open and adaptive when negotiating with customers.

Step 8: Managing your commercialisation relationships to ensure that your strategy is executed and new opportunities are optimised

Step 8 aims to help you understand:
a) How to build and nurture trusting relationships,
b) The importance of continued engagement and open communication with partners, and
c) How to create new opportunities for commercialisation and impact from research.

Click here to listen to Dr Truong Minh Thai (Can Tho University) explain why you should maintain good relationships with customers and clients.

Step 9: Evaluating the contribution of your technology solution to sustainable development impacts (social, environmental and economic)

Step 9 aims to help you understand:
a) The contribution that your technology solution has made to changes in society, the environment and the economy (positive and negative), and
b) How to build credibility and legitimacy as an organisation/research team as a reliable source of commercialisation success.

Click here to listen to Ms. Nguyen Phuong ThaoNguyen Khoi Green Joint Stock Company) explain the value of an impact assessment, which demonstrated that their model has contributed to sustainable development and further opportunities.

Moving along your
Commmercialisation PLUS journey

The Commercialisation PLUS Readiness Assessment is designed to be your guide to discover the information you need to make decisions and undertake the next steps.

Clearly understanding where you are along the commercialisation journey will help you, as well as other researchers, managers and mentors, identify and manage knowledge gaps, risks and system challenges that need to be addressed and overcome to successfully launch a technology product or service into the market.

The questionnaire assesses the status or readiness along the Commercialisation PLUS journey against six essential categories that underpin successful and impactful science commercialisation. The six categories are referred to as the “Readiness Capabilities”.

Each capability readiness category contains questions that connect to a step in the Commercialisation PLUS process. By answering the questions in the self-assessment questionnaire, you can deliberately and measurably understand your progress and determine the next best steps to undertake when transferring your technology from the laboratory and launching it in the market. The questions in each category will also provide you with additional guidance around any points of weakness or areas of high risk due to possible knowledge gaps.

Start your Commercialisation PLUS journey!
TechnologyInforming your technology development with market needs ImpactDefining and measuring the impact and scale on society, the environment & the economy from your technology solutionIP protectionEnsuring appropriate protections are in place to underpin your commercial pathwayMarket/End user Engaging with people who will potentially benefit from using your technology solutionCustomers/ ClientsEngaging with people who are willing to pay for your technology solutionNetwork & RelationshipsDeveloping networks & building relationships with value chain actors & other stakeholders to help identify & manage opportunities