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BA 468X:
Technology Commercialization (4 credits)
Spring Term
2007
PREREQ: BA 260, BA 460, with exceptions
at instructor discretion
John
E. Turner, PhD Office
Hrs:
Weatherford Hall, EG07 Thu
3:00 pm – 5:00 pm
Phone: 713-8044 Fri
12:00 pm – 2:00 pm
john.turner@bus.oregonstate.edu (and
by appointment)
Text:
R.C. Dorf and T.H.
Byers, Technology
Ventures: From Idea to Enterprise with Student DVD, 2nd edition,
McGraw Hill.
Additional
S. Shane, Academic Entrepreneurship: University
Spinoffs and Wealth Creation, Edward Elgar Publishing (2004).
R.C. Megantz, Technology Management: Developing and
Implementing Effective Licensing Programs, John Wiley and Sons (2002).
Course Objectives:
Technology commercialization
is the process of bringing technical innovation to the marketplace. Each
year more than 150,000 patents are granted in the
Depending
on these factors, different approaches may be taken to extract value from
technical innovation. In some cases, a
classic start-up company may be the best vehicle. In other situations,
royalties from licensing may offer the lowest risk and highest payback. A detailed knowledge of the market, intellectual
property landscape, and financial considerations are essential to make the best
choice among these options.
This course will offer a
process and tools to assess the business viability of a technical idea, and to
develop the best business approach for commercialization. This will be a “hands on” class in which students will exercise
commercialization concepts on recently awarded
Early phases of the class
will address the screening process to identify the most promising technical
concepts for commercialization. This process will be practiced in class using
case studies. The individual entrepreneurial teams will then use these
screening tools in the selection of a patent from the OSU portfolio.
Subsequent aspects of the
course will provide tools to develop a robust commercialization plan. This will
include performing market studies, preparing the “pitch”, intellectual property
management, project management basics, identifying critical elements, risk
management, financial plan development, and a full commercialization proposal.
The individual teams will demonstrate use of these tools and recommend a
commercialization plan for their selected patent.
The class will also include
invited speakers on various topics- OSU inventors to talk about their patents,
local entrepreneurs who have commercialized a new technology, and
representatives from local high tech companies to discuss their internal
technology commercialization process.
This class will be a balance of presented material, active practice of concepts on case studies and selected patents, and in-class presentations of interim results by the individual entrepreneurial teams. As such, active student participation in the teams and class discussions is essential. As described below, grades for the class will be based on class participation, successful team dynamics, and the quality and completeness of the commercialization plans.
At the end of the class,
commercialization plans developed by entrepreneurial teams will be presented to
a review panel comprised of inventors, team mentors, and OSU business faculty.
Specific feedback will be provided by the panel on the proposed
commercialization approach. Teams will also have the opportunity to pitch their
completed commercialization plans at the annual “Angel Oregon” entrepreneurial
event.
Students will register and
receive credit for the class in Spring term. However due to scheduling
constraints, the class will be held over a twelve week period (Feb 5- April
30), with two weeks off during Winter Term finals and Spring break. The class
will culminate in the presentation of commercialization plans at the Austin
Entrepreneurial Program Signature Event in
Specific
course learning outcomes:
1. Understand the use of screening tools to identify attributes
of a marketable technical concept.
2. Understand steps in a technology commercialization process to
develop a viable commercialization proposal.
3. Understand the elements of a successful business proposal
and presentation for commercializing a technical concept.
4. Be able to skillfully use
screening tools and the technology commercialization process to develop a
business proposal for a selected OSU patent.
5. Be able to make an effective
presentation of a business proposal for your selected OSU patent
6. Be able to work effectively
in multidisciplinary team to develop and present your commercialization plan.
7.
Be able to listen
to the ideas of others and appropriately incorporate them into your thinking.
Class Schedule
*Tue, 2/6
Course Introduction- Overview
and Expectations
Fri, 2/9 Types of Intellectual Property and Technology Commercialization Options
*Tue, 2/13 Presentations and Discussions on OSU Patent Portfolio
Guest Speakers: OSU
inventors describe their patents and critical elements for implementation
Class Materials- List and information on available OSU patents.
Fri, 2/16 Technology Screening: Identifying Viable Ideas for Commercialization
In-class practice applying screening concepts on case studies, formation
of technology
commercialization teams.
Assignment: Teams complete
screening, rank patents in portfolio for commercialization
potential, and prepare
presentation for 2/20 class
*Tue, 2/20 Screening and Selection of OSU Patents
Team presentations on screened OSU
patents, and preliminary patent selection.
Assignment: Each team work with
instructor to finalize patent selection and team member roles
Fri, 2/23 Market Studies, Product Definition, and Competitors
Assignment: Teams prepare market
study in area of selected patent for 2/27 class presentation
including product/service
offering, target market, and competitors.
*Tue, 2/27
Brainstorming Commercialization Options- Strategy and SWOT Analysis
In class
practice using SWOT Analysis on case studies.
Assignment: Teams prepare SWOT analysis of
options on selected patent for3/2
class presentation.
Fri, 3/2 Team Presentations: SWOT Analysis and
Recommended Strategy
*Tue 3/6 Developing
the Pitch and Business Presentation Essentials
Preparing a succinct summary of the technology and
business proposal, and review of elements of a formal business presentation
Assignment: Teams prepare a two minute
elevator speech for 3/9 class presentation.
Fri, 3/9
Developing a Financial Plan
Assignment:
Teams prepare first pass sales/revenue projections, expenditures, and balance
sheet for start-up financing for 3/13 class presentation
*Tue, 3/13 Sources
of Capital, Venture Capitalist Expectations
Guest Speaker:
Fri,
3/16 Corporate Technology Development
Processes
Guest Speaker: Technology
manager from local high tech firm (TBD)
NO CLASS
3/17-4/1 (FINALS AND SPRING BREAK)
*Tue, 4/3 Legal and Regulatory Issues
Fri, 4/6
Project Management Basics I- Objectives, Resources, Budgets, and
Scheduling
In class practice using project management principles
on case studies
*Tue, 4/10 Project
Management Basics II- Risk Analysis and Contingency Planning
In class practice using project management principles
on case studies
Assignment:
Teams complete project plan and timeline for commercialization of selected
patent
for 4/13
class presentation.
Fri, 4/13
Preparation of Commercialization Plans I
In class practice
preparation of commercialization plans from case studies
Assignment: Commercialization
teams complete first draft of a comprehensive commercialization
plan on selected patent for
4/17 class presentation.
*Tue, 4/17
Preparation of Commercialization Plans II
In class presentation of commercialization plans, feedback and
discussion.
Assignment: Teams prepare a formal
presentation of commercialization plan for 4/20 and
4/24 panel reviews.
Fri, 4/20
Panel Reviews of Tech Commercialization Proposals
*Tue, 4/24 Panel
Reviews of Tech Commercialization Proposals
Fri, 4/27
Feedback from Panel Reviews, Preparing Proposals for AEP Signature
Event
*Note: The choice of Tuesday is preliminary. The day
of the week for this class may change to suit the schedule of enrolled
students.
Grading:
Class Participation, Team
Dynamics, and Balanced Team Contribution: 30% of grade
Much
of the learning in this course will come from in-class discussion of the
presented concepts, and from providing feedback to your peers as they develop
their technology commercialization ideas. As such, I encourage everyone to
actively contribute by asking questions about the course material, of invited
speakers, and by providing constructive feedback to the technology
commercialization teams during presentations. In order to create an environment
conducive to good discussion, I strongly encourage you to come to class on time
and prepared. You will be graded both on the quantity and quality of your
contributions for each class. About half way through the course I will give you
some feedback on how I see your participation grade up to that point
The
best commercialization plans will arise from the diverse opinions and
backgrounds of the members of each team. For this reason, we encourage that
teams should be formed of members with complementary skills and differing
backgrounds. Early in the class, it will be important for the members of each
team to discuss respective roles, responsibilities and expectations. The best
teams will have clearly defined roles and balanced contributions from each
member. During the course of the class, conflicts and disagreements among team
members may naturally arise. Active discussion and consideration of different
approaches will be essential to develop the best commercialization plans. The
ability of a team to work constructively through any differences will also be a
factor in grading. I will provide feedback to each group about midway through
the course on my observations of the balance of contribution and team
dynamics.
In
Class Presentations on Interim Results: 30% of grade
As
a part of the course content, tools and processes are provided for
commercializing a technical idea. These tools will be used by the teams to
screen patents, identify whether licensing or a spin-off company is most
appropriate, generate a timeline, resource and staffing needs, financial
projections, market surveys, and other aspects of the commercialization plan.
These interim results will be presented by each team in class. The quality of
these results and appropriate use of tools and processes will be a factor in
grading. Feedback on the interim results will be provided to each team within
one week of each presentation.
Technology
Commercialization Proposal: 40% of
grade
The
quality of the final commercialization proposals will be determined by the
panel reviews held the last week of class. The proposals will be judged by the
instructor and panel members on a) completeness and self consistency of the
commercialization plan, b) use of appropriate business, financial, and
technical principles, c) evidence of supporting background information and
research, and d) quality of the presentation.
Please let me know if you need any particular accommodations during the course. The following statement is from the university web site regarding accommodations for students with disabilities: "Accommodations are collaborative efforts between students, faculty and Services for Students with Disabilities (SSD). Students with accommodations approved through SSD are responsible for contacting the faculty member in charge of the course prior to or during the first week of the term to discuss accommodations. Students who believe they are eligible for accommodations but who have not yet obtained approval through SSD should contact SSD immediately at 737-4098."
Any case of academic dishonesty will result in a grade
of F for the course. This action is
allowed by Academic Regulations and Procedures as described in the Schedule of
Classes. All students should know and understand these policies and regulations. If there is any doubt about their meaning and
interpretation, ask for an explanation.
Details of the university’s policies on academic dishonesty can be found
at http://oregonstate.edu/ap/curriculum/policies/S_syllabus.html
Mentors and Technical Resources:
Each
team will be provided with one or more mentors to advise them as they develop
their business approach. These will be experts in business, financial, and
technology commercialization processes to provide additional suggestions and
perspectives as needed. Teams will be responsible for contacting their
respective mentors and arranging times to meet for questions or review their
progress.
As
teams examine various options for commercializing their selected patent, we
also recognize they will need access to technical experts with detailed
knowledge of the patent and related technology. If possible, we plan to have at
least one technical member per team to fill this role, or request that the
inventor provide a graduate student liaison to answer questions and participate
as needed.
Class Lecture Notes:
Inventors and Guest Speaker
Presentations:
·
M.
Pastey (Bird Flu Antibodies)
·
R.
Peterson (Expander/Compressor)
·
A. Chang (Printable
Electronics)
·
Tim
Weber (Corporate Technology Development)
·
Bill Newman
(Venture Financing)
Other Resources:
Sample Commercialization Plans:
·
Superior
Agrifuels (Final Presentation)
·
Superior
Agrifuels (Financial Analysis)
