tcm concept discovery stage introduction

“Fast Track to Commercialization”

… how to discover your One Million Dollar Business (1mdb)

Stephen OngVisiting Professor, Shenzhen University, PRC

Academic Fellow in Entrepreneurship & Innovation, Anglia Ruskin University, UK

3 August 2016

2

Today’s Agenda• 9:00 Intro : Who wants to be a Millionaire?

• 10:00 Step 1 : Mapping out my Great Idea• 12:00 Step 2a : My secret love affair

• 13:00 Have an AMAZON Lunch

• 14:00 Step 2b : Let’s Go Shopping• 15:00 Step 3 : Ask me about my One Million

Dollar Business

So you want to be a MILLIONAIRE?

A27 year old graduate

in Electrical & Electronic Engineering

from local Technical College, with 7 years working experience.

With a partner, started up a computer repairs shop to make

Chinese language computers in Chinatown.

B26 year old drop-out from local university,

working with a company making

calculators. With a partner, started making

computer parts at home for a newly opened computer

shop.

C20 year old drop-out from local university, working with a local software company. With two partners,

started up data processing service for

local government using computers at the school library.

A6,000

(from combined savings)

B1,300

(from sale of car)

C25,000

(from Family)

A27 year old classmate from local Technical College, holder of

Diploma in Electrical & Electronic

Engineering. He holds strong beliefs in living life without regrets and making the world a better

place.

B26 year old high school leaver, from average family, whose step-father is a mechanic and carpenter. He has been a drug user, a follower of Eastern religions like Hinduism and Buddhism, and always short of money. He believes in changing the world.

C17 year old drop-out from local university, working with a local software company. He comes from a

middle-class family and strongly believes

in intellectual property rights.

A• Copied 2

patents from US Competitor and had to buy Company.

• Owned 1 patent copied by US Company and wins damages.

B• Copied 1 patent

from US Company• Copied 1 patent

from foreign Company and legally forced to pay damages for licence.

CBuys 1 exclusive licence from US Competitor and

sells non-exclusive

licences to customers.

AA 60-year old company with a network of

3,000 computer

stores

BA new local computer store and friends.

CA 70-year old company with its own sales

force, own stores and

reseller agents

A232m

Customers in USA

B0.3m

Customers in USA

C6m

Customers worldwide

“…if we don’t invent the right thing,

someone will invent the right thing.

So let’s go invent that thing”

Reid Hoffman, founder of LinkedIn with four friends, starting with 6,000 customers, 10 years

ago. Today, a US$20B company with 225m customers.

Is your FACE,your FORTUNE?

A B26 year old drop-out from local university, working with a local company making calculators. With a partner, started up small manufacturing of computer parts at home for local newly opened computer shop.

C20 year old drop-out from local university, working with a local software company. With two partners,

started up data processing service for

local government using computers at his parent’s school.

A B C

B

From $1 to $1.0 Million

1 2 3 4 5 6 7 8 9 1 0 1 1 1 2 1 3 1 4 1 5 1 6 1 7 1 8 1 9 2 0 2 1

1 2 4 8 16 32 64 128

256

512

1024

2048

4096

8192

1638

4

3276

8

6553

6

1310

72 2621

44

5242

88

1048

576

THE COMPOUNDING EFFECT

For those chosen few out of MINDS,

there is the ...

SPACEprogramme

The Technology Commercialisation Model

CONCEPT PHASESTAGE 1 : DISCOVERY

CREATION PHASESTAGE 2 : DO-ABILITY

STAGE 3 : DESIGN

STAGE 4 : DEPLOYMENTCOMMERCIAL PHASESTAGE 5 : DELIVERY

STAGE 6 : DOMINATION

The Technology Commercialisation Model

SCIENCE & TECHNOLOGY MARKET ENTERPRISE / BUSINESSCONCEPT PHASE

STAGE 1 : DISCOVERY Step 1 Technology Analysis

Step 2Market Needs Analysis

Step 3Venture Assessment

CREATION PHASESTAGE 2 : DO-ABILITY Step 4

Technical FeasibilityStep 5

Market StudyStep 6

Economic Feasibility

STAGE 3 : DESIGN Step 7Engineering Prototype /

Pilot Plant

Step 8Strategic Marketing Plan

Step 9Strategic Business Plan

STAGE 4 : DEPLOYMENT Step 10Pre-production Prototype

Step 11Market Validation

Step 12Business Start-Up

COMMERCIAL PHASESTAGE 5 : DELIVERY Step 13

ProductionStep 14

Sales & DistributionStep 15

Business Growth

STAGE 6 : DOMINATION Step 16Production Support

Step 17Market Diversification

Step 18Business Maturity

The Technology Commercialisation Model

Dimensions SCIENCE & TECHNOLOGY

MARKET ENTERPRISE / BUSINESS

CONCEPT PHASE

STAGE 1 : DISCOVERY

Step 1 Technology

Analysis

Step 2Market Needs

Analysis

Step 3Venture

Assessment

“Is your product new, unique, and technically feasible?”

Innovation SPACE™ Technology Commercialization ModelPhase 1 : CONCEPT

Stage 1 : DISCOVERYStep 1 : TECHNOLOGY ANALYSIS

“Does your product meet a clear market demand or solve a

problem?”

Innovation SPACE™ Technology Commercialization ModelPhase 1 : CONCEPT

Stage 1 : DISCOVERYStep 2 : MARKET NEEDS ANALYSIS

“Will your product or venture opportunity make a profit?”

Innovation SPACE™ Technology Commercialization ModelPhase 1 : CONCEPT

Stage 1 : DISCOVERYStep 3 : VENTURE ASSESSMENT

We must set our Goals today

Let’s Begin …https://www.youtube.com/watch?v=U_36RmBw5hA

Have an Amazon lunch …

… time for walkabout

CONCLUSION

Do we make the RIGHT Choices?

AHe associates with crooked politicians, and consults with astrologists. He's had two Mistresses. He also chain smokes and drinks 8 to 10 martinis a day.

BHe was kicked

out of government twice, sleeps

until noon, used opium in college

and drinks a quart of whiskey every evening.

CHe is a decorated war hero. He has strong religious beliefs, a vegetarian, doesn't smoke, drinks an occasional beer and never cheated on his wife.

A B(

C

-₤21B(1945)

-$320B(1945)

-$251B(1945)

QUESTIONS

... or CHOW

THANK YOU