Mistakes in Commercialization

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Commercialization of technology requires key skills in market research, product development, and customer engagement.

Avoid these mistakes in commercialization:

Focusing on researching the technology only.

Set aside time for selling, marketing, and product development.

Failing to maintain commitment.

Tech commercialization requires several years of work to achieve.

Recruiting only other researchers onto the project.

You’ll need skills from outside the research community such as sales and marketing skills.

It’s important to build a team with diverse backgrounds.

Failing to raise funding.

It’s important to build a network of investors funding your project both public and private.

Inadequate vendors and suppliers.

Make sure to recruit providers who can meet your specifications and criteria.

Skipping customer research.

It’s easy to admire your own idea but it’s critical to find customers who will pay for it.

Ignoring the competition.

It’s important to understand the competitors and their offerings.

Failure to follow the market.

Markets evolve and change over time so you’ll need to follow the market with product updates.

Consider how to overcome these challenges in your commercialization efforts.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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Check out our other podcasts here: https://investorconnect.org/
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Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
For Startups check out: https://tencapital.group/company-landing/
For eGuides check out: https://tencapital.group/education/
For upcoming Events, check out https://tencapital.group/events/

For Feedback please contact info@tencapital.group

Please follow, share, and leave a review.

Music courtesy of Bensound.

How To Engage Academics Into Commercialization

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Universities often encourage academics to commercialize their technology to advance their research.

Here are some key steps to engage academics into commercialization:

Focus on the impact of the research rather than the revenue generated.

Encourage the researcher to promote the technology into other groups.

Foster collaboration with other universities and research groups to carry the research forward.

Hold regular meetings to share the results of the collaboration.

Identify the market size and opportunities to demonstrate the need for the technology.

Expose the market to the technology and check interest.

Follow up significant interest that may lead to funding further research.

Measure the impact of industry funding on increasing research into the technology and advancing its application.

Identify specific companies that would benefit from the use of the technology and open a dialog about their financial support.

Researchers need support in identifying the market opportunity, building collaboration groups, and accessing funding to progress the technology.

Focus on these areas to encourage academics to engage in commercialization.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
For Startups check out: https://tencapital.group/company-landing/
For eGuides check out: https://tencapital.group/education/
For upcoming Events, check out https://tencapital.group/events/

For Feedback please contact info@tencapital.group

Please follow, share, and leave a review.

Music courtesy of Bensound.