This is a new technological invention, which is not yet in the market place. The report has to evaluate its potential for commercialization.
It ha to provide detailed evidence of wider reading around the technology and its owners (e.g., scientific background, inventors biographies, previous entrepreneurial experience).
It has to make good use of supporting materials (e.g., market research, patents, technical reports) to conduct rigorous business analysis.
It has to demonstrate ability to use relevant conceptual frameworks to analyse technology commercialization (e.g., Win 2).
It has to have an originality of thought.
It has to have a clear structure that is well written (e.g., clear and logical structure, sub-headings and plain English especially when discussing technical material).
It has to have the ability to analyse the commercial potential of technology from multiple perspectives (e.g., social impact, financial returns).
Evaluate the technology’s commercial potential using Win 2.
Win2 process to be followed is stated as follows;
Win2 Implementation checklist-Impact Upon Society
What is the effect upon people’s welfare?
Does it meet current laws and regulations?
What are the safety implications of using or abusing this innovation?
What will be the impact upon the environment of this innovation in use or when obsolete?
What are the size and dynamics of the potential market?
How does it compare with the competition?
Barriers to Acceptance
What are the key barriers to acceptance and can they be overcome?
Feasibility of Concept
Can it be made?
Will it work?
Will it make money?
Experience & Strategy
What are the necessary Marketing, Financial, Technical, Management and Production skills and are they in place?
Is a new venture appropriate?
Is a partnership strategy appropriate?
How will the innovation be distributed?
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