STEM researchers—the engines of innovation
Lens of the Market Stage 2
Innovation2Market provides teams of STEM researchers with a proven set of tools, skills, processes and templates to identify and explore potential markets for their innovations. The program helps them define the best initial market and then to build and validate a Business Case for success in that market.
The outcome from Stage 2 is a Business Case with a clear go/no-go decision about pursuing commercialization of the researchers’ innovation. The outcome includes an articulation of the markets most likely to maximize reward and minimize risk for commercial success. This serves as the foundation for a Business Model and Go-to-Market Plan, along with Financial Forecasts and a Funding Plan to be developed in Stage 3.
Innovation2Market
An invention is not an innovation, and an innovation is not a needed product until the market says it is!
With ecosVC’s unique STEM-intensive process, tools, templates and guidance, Lens of the Market Innovation2Market ensures that you have the ability to transform your research into market successful products and innovations.
Learn more about continuing the journey! Check out the video.
The Details
- Teams of 3-5 who are dedicated to translating their research into market required products and innovations.
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- Up to 4 teams of 5 participants per team
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- Each Satge 2A and 2B is usally ~3 months depending on organization requirements
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- A team of experienced professionals with a track record of successful technology commercialization in start-ups and the Fortune 100.
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- Market gap analysis and technical validation for innovations using proven methods
- Selection of prioritized, market focused innovations based two levels of market and technical analysis – Quickscreen and Deep Dive
- Actionable R&D plans coupled to prioritized market requirements
- Skill by team members on what is required for market focused successful commercialization
Lens of the Market Stage 2 helps build a validated Business Case—the foundation for a Business Model, Go-to-Market Plan, financial and funding plan.
Format
Lens of the Market Stage 2 is available in two effective and proven formats. Select a hybrid combination of face-to-face and remote or totally remote based on what is best for your organization.
Lens of the Market - Innovation2Market is delivered in two Stages 2A and 2B:
Stage 2A: Market Prioritization and Validation. FIND OUT FAST the best markets to introduce your product: In Stage 2A, the teams select 2-4 potential market aligned applications of their research – a market/application pair - and perform a Lens of the Market Star Market QuickScreen Analysis to determine which opportunity has the greatest chance for higher reward with lower risk.
Stage 2B: Market validated Business Case. DO A DEEP DIVE on the best market: Stage 2B provides the teams with skills and training to conduct a deep dive market analysis on the most promising market/application pair for the beachhead market resulting in a detailed product market gap competitive analysis with specs for a minimum viable product, a validated value proposition for the new offering, a complete market structure/value chain analysis at the market segment, sub-segment and addressable market levels and an R&D Plan to achieve the first steps in technology readiness lab level proof of concept!
TOGETHER outcomes from Stages 2A and B provide the basis for successful SBIR funding, research grants and skilled researchers able to get jobs across the spectrum of the scientific enterprise!
Schedule a Lens of the Market Workshop
