Brand recognition - Which brand &

model?

Price point differences -

Compare prices between products

Customer voice - Ask your

friends & family

Value chain differences -

Visit a couple of different stores

or online

Product differentiators - Warranty & Free refills, Services

Product design -

What is appealing and is

there variety?

Entrepreneur who is from academia vs. private sector

Looking for financiers before thinking

through their business model

Trying to be “Jack of All Trades”

Emotional attachment affects “time to market”

Not open to anyone’s advice

Too open to everyone’s advice

Competitors – local & global EcoWater, Cuno Brita, GE/Zenon Alticor (Amway) Culligan, Woojin

Coway

Highly competitive

pricing & business models - Rental & direct

sales or MLM

Customers – local & global Their needs are different & water quality is different

Distribution channel is extremely complex –

Online, through distributors, water

depots

Successful Launch

Who am I competing

with (technology/company)?

What is the size of my

market?

Where am I going to

sell (geography)? How

am I going to sell (business and

pricing models)?

Which industry am I selling into?

Questions to ask:

-Is my technology really disruptive?

-Who is my direct competitor at my price point?

-Does my competitor have a diversified portfolio?

How to find the answers:

1.  Consider patent or prior art searches – Public databases like USPTO or WIPO, or paid databases like Delphion or Total Patents

2.  Understand your position in the “value chain” 3.  Conduct a SWOT analysis To determine your

competitive edge 4.  Compare product/technology capability/claims:

use product brochures from trade shows or product claims from websites

Strengths Capabilities?

Competitive advantage? USP’s? Price, value, quality? Experience,

knowledge, data? Resources, assets and people? Location and

geographical?

Weaknesses Gaps in capabilities? Lack of competitive

strengths? Financials? Cashflow, start-up cash drain?

Accreditations? Processes and systems

etc.?

Opportunities Competitors

vulnerabilities? Industry or lifestyle trends? Global

influences? Niche target markets?

Partnerships, agencies, distribution? Tactics –

major contacts?

Threats Legislative effects?

Environmental effects? Competitor intentions?

Vital contracts and partners? Loss of key

staff? Sustainable financial backing?

Internal

External

Favourable Unfavourable

-What is my potential market vs addressable market? (i.e. What is realistic vs. what you wish it to be) -What is my market share among competitors? -What is my market share in Canada/Ontario?

1.  Consult market reports from multiple vendors

2.  Be clear about the “definition” used

3.  Sizing the market in publicly traded vs. privately held companies:

a. Bottom up method – aggregate revenues of all players –Tier 1, 2 or 3 – You are likely in Tier 3

b. Look at annual reports, tax filings, press releases, etc. for private held companies

4.  Market sizing at regional levels is more logical – NA, EU, Asia, Middle East

5.  Ultimately make realistic assumptions!!

-Should I be selling my products outside of North America?

-What are the cultural & gender preferences or differences in that market?

-What are the regulations?

-What partnerships do I need?

1.  Consult reports on customer preference and behavioral changes – Frost & Sullivan, Datamonitor, Forrester, Industry Associations

3.  Use social media to your advantage – E.g.. P&G’s teenage feedback on feminine hygiene products through social media sites

3.  Consider focus groups or expert advisory panel discussions before developing a product – e.g. Refined data solutions

4.  Tap into Canadian Trade Commissioners office (DFAIT) in other countries

-Who has the most innovative business model out there? i.e. Can I apply those best practices?

-What is my pricing structure?

-What is my revenue model?

-Should I white label or license?

1.  Use focus groups to determine price points

2.  Give consideration to geographic location before pricing your product

3.  Consider “white labeling” to tap into a manufacturers with name recognition in your market

4.  Consider licensing if multiple manufacturers and geographies are involved

Should I be selling this to the DOD instead of healthcare?

Are barriers to entry low in certain verticals? Less regulations, price agnostic ?

Could that be my first entry point before I tackle another vertical?

Should I target government or the private sector?

1.  Understand the vertical markets of your competitors and target least competitive verticals

2.  Are there any investments happening in a particular sector, government agency or country that could be an advantage? a. After 9/11 and recent incidences in NY – increase in security technologies b. Cleantech - Ontario’s Green Energy Act and FIT program in bringing in investor into the province; China investing $5 B in cleantech in next 3 years

Is there really a market need here?

Whether the answer is a “Go” or “No go” understanding your market / customer / industry dynamics will be key.

Tips to be on top of things :

1.  Attend industry events/trade shows

2.  Subscribe to relevant industry journals/newsletters

3.  Track industry analysts – through research publications, blogs etc.

3. Explore “Vendor Briefings” a. They are usually free of cost b. Your company may be profiled in their research c. Be top of mind with analysts by sending them pertinent news

Provide Advisory/Mentoring services

Market/Competitive Intelligence

Educational content

Seed Money

Ontario Entrepreneurs

ICT Life Sciences

Cleantech Physical Sciences &

Social Purpose

MRP

Services

  Who is eligible? Start ups that are < $1 Million in revenues &/or < $2 Million in investments (total raised)

  What are some exceptions?

 There may be Biotech company with >$ 2 M in investments but have no revenues

 A professor or student entrepreneur who has not set up a company but has an innovative technology or product to commercialize (may or may not be patented)

  Who is absolutely not eligible?

 Anyone with >$ 2 M in revenues or > $ 3 Million in investment (total raised)

 Any VC’s or investors  Advisors or EIR’s personal interest projects

  In the past one year MI team received 981 requests from 796 companies/

entrepreneurs and provided a total of approximately 4,584 research reports to

the entrepreneurs.

  Industry breakup of the requests received

is as shown in the chart.

Life Science and ICT requests are at 33 %

and 48.5.0 % respectively followed by

Cleantech & Physical sciences at 16 %, SIG

clients at 2.4%.

Ontario Commercialization Network Uptake Analysis

Industry specific vendors

IDC Forrester Gartner

Lux Research Cleantech Group Thomson Pharma

MedTrack Business Insights

Recap

Multiple Industry coverage vendors

Frost & Sullivan BCC Research Total Patents Datamonitor

Venture Source Innography

Aggregator of other vendor resources

Dialog Pro Market Research

Factiva

1. Access to reports from 20 databases

2. Access to industry analysts through inquiry time

Key: Red – ICT Green – Cleantech & Nanotech Blue – Life Sciences

Life Sciences

George Botos – BEng, MSc, PMP, MBA (candidate) – pharma, healthcare June Avila – BSc, MISt

Information Communication Technology (ICT)

Tim Tang – MBET, BASc - digital media, software, mobile apps, wireless Helen Kula – HBA, MISt

Cleantech and Physical Sciences

Usha Srinivasan PhD – water, waste and remediation Jesika Briones- Industrial engineering, McMaster XCEE MSc graduate

MaRS Innovation and Tech Transfer offices

Sherry Mao – BEng, MISt

pg 27

Usha Srinivasan PhD Director of Market Intelligence Market Readiness Program MaRS Discovery District T 416-673-8144 E usrinivasan@marsdd.com W www.marsdd.com