Technology Entrepreneurship Commercialization

Document Sample
Technology Entrepreneurship Commercialization Powered By Docstoc
					Technology Entrepreneurship
 Commercialization (TEC)
               BUS-MHR 890

            Course Syllabus

                 Fall 2010

           Dr. S. Michael Camp
Academic Director, Center for Entrepreneurship
         The Ohio State University
           Columbus, OH 43210
    614-292-3045 * 614-292-4664 (fax)
             camp.1@osu.edu

            Dr. Brian Abraham
        COO, Groveland Capital, LLC
             Minneapolis, MN
              612-325-1528


                  Office Hours:
             R 3:30 p.m. – 5:30 p.m.
               or by appointment




                                                 1
Technology Entrepreneurship and Commercialization

                                    BUS-MHR 890
                                      Fall 2010
                                   Gerlach Hall 305

                                 Thursday 6:00 p.m.

Course Overview
This course is designed to develop a student’s ability to find, evaluate, and develop raw technical
ideas into commercially viable product concepts, and build those concepts into business
propositions. This course is part of the Technology Entrepreneurship and Commercialization
Academy (TEC) offered by the Center for Entrepreneurship at The Ohio State University.
Among other educational and outreach initiatives, the broader commercialization program
includes a variety of other courses to round out the student’s education in this important area.

BUS-MHR 890 focuses on strategies and techniques for evaluating technologies for commercial
viability and preparing technologies for commercialization. In undertaking the course, we expect
students to accrue knowledge and skills necessary for technology-based commercialization.
While the course is focused towards venture-funded startups, the pedagogy is sufficiently general
that the knowledge and skills are also directly applicable to commercialization within a corporate
environment.

Course Justification1
       “In the past decade, a number of diverse factors converged to propel the issue of
       technology commercialization and the role of innovation in stimulating economic growth
       to the forefront of attention in both industry and academe. For industry, companies
       seeking to commercialize the technologies they develop now face a dynamic set of
       challenges, attitudes, and values. The marketplace demands better, faster and cheaper
       technology products, a product development nightmare for companies trying to survive
       while staying ahead of their competitors.

       Intellectual property has taken on a new and more vital position. Once a cost center for a
       corporation, intellectual property (IP) has now become a revenue center and essential
       competitive advantage for those firms that possess valuable IP portfolios. Consequently,

1
 Ref. No.: IJEEl-3LA2 Bringing Technology to Market: a Macro View of Technology Transfer
and Commercialization.



                                                                                          2
       firms must now find ways to create value from archived patents to justify the ever
       increasing expense of new product development. Moreover, companies can no longer
       survive simply on incremental innovation - improving existing technology. Today
       companies must seek ways to add radical innovation to their product development mix to
       stimulate future opportunities before their existing technologies become obsolete.
       Although thousands of new products reach the market every year, the vast majority of
       these products fail to make a profit for the companies that created them. Therefore, it is
       not surprising that 40 percent of major corporations in business in 1975 are not in
       business today (Foster, 2000). A critical reason for this dismal record is ineffective
       commercialization processes that attempt to link emerging technologies with existing
       markets rather than with emerging markets (Stevens and Burley, 1997). Satisfying
       customer needs today is like trying to hit a moving target.

       Universities are playing an increasingly important role in the innovation and
       commercialization process. They rely heavily on research grants to support their R&D
       function, but, more and more, government and foundation funders are stipulating that the
       results of research must have a commercial application, that is, return something of
       value to society. As a result, universities are faced with the dilemma of how to stay true to
       their primary mission -to educate, conduct independent research, and provide service to
       their communities -while simultaneously responding to demands to commercialize their
       research findings. Although arriving late to the game of technology commercialization,
       university licensing activity has had a significant impact on the economy. For example, in
       2008, commercialized academic research produced more than $51 billion in research
       expenditures, producing nearly 650 new product concepts and 600 startup companies,
       and 5,000 total licenses and options executed (AUTM, 2009).

       Despite more effective tools and knowledge about commercialization, new technology
       adoption is still a very slow and incremental process with only a mere fraction of all new
       technologies ever achieving mass adoption. Those technologies that do achieve mass
       adoption do so only after significant delays (Farzin, Huisman, and Kort, 1999). The slow
       pace of technology adoption is due in large part to the uncertainties inherent in the
       commercialization process. The more rapidly an invention gets to market, the more likely
       it is that it meets market needs defined during the development process. Yet, there are no
       guarantees and perhaps one of the major uncertainties of the process is that so much of
       the process is out of the control of the entrepreneur or firm. Given the environment
       described above, it is no wonder that interest in understanding, refining, and perfecting
       the commercialization process has quickened. Yet an understanding of the
       commercialization process and its outcomes at a macro level is still in the early stages.”

Course Focus
This course sequence has been proposed for two primary reasons.

1) There is a well recognized need for well-qualified scientists and engineers to develop a
   broader range of knowledge and skills, in particular, those relating to technology




                                                                                           3
   commercialization. These assets and skills better prepare you for more typical career paths
   that evolve from pure R&D over time.

2) There is also a general problem of social and economic loss resulting from an inability to
   commercialize the technical research and development undertaken in companies, government
   laboratories and universities. The embedded value of IP in corporate America is estimated to
   be greater than $5 trillion. A great deal of R&D investment is wasted because of a limited
   understanding and application of methods or mechanisms to turn technologies into viable
   business opportunities.

This course takes an entrepreneurial approach as a method for teaching technology
commercialization. Since commercialization is an interdisciplinary endeavor, the entire cycle
(i.e., the entrepreneurial process) of identification, evaluation, strategy development and business
plan preparation must be covered. This is most effectively done in an entrepreneurial, real world
context. This is critical for teaching technology commercialization. In this class we only use
real world entrepreneurial opportunities. As soon as it becomes apparent that an idea cannot be
developed into a real opportunity it is abandoned and an alternative concept is pursued. Each
concept is created from within the TEC Team format and is a function of the TEC Protocol,
initial technology and understanding of relevant market needs. These factors translate into a
compelling value proposition that clear strategy and deliberate execution can capture over time.

Course Pedagogy
There are a number of unique theoretical constructs and paradigms that undergird this unique
course.

First, is that the essence of entrepreneurship is IN FACT the ability to create real value, not
create new companies. The resulting companies are simply the means by which entrepreneurs
facilitate the capture (realization) of the created value. Secondly, the value entrepreneurs create
is socially derived or enacted (Karl Weick). In order to create value around a compelling
business concept, we have to know how our ideas around innovative solutions to real problems
tie in and enhance the current story publically shared by our potential customers and suppliers
about the problem.

Third, a relatively small fraction of the learning that is required to be a value creator is explicit
and can be learned through traditional instructional offerings. Rather, the real learning that is
required to develop practical value creation skills is predominantly implicit, experientially-based
and personal (Steven Johnson). Therefore, the TEC Academy courses provide real world – “live” –
experiences to facilitate the critical implicit learning that has to be present in order to change the
way a student sees his or her impact on the world through private enterprise.

Fourth, this enacted value creation requires a unique perspective from the entrepreneurial
student. They have to be trained in a new form of logic – entrepreneurial logic through
effectuation – (Saras Sarasvarthy) in order to be able to cope with the complexity of the task in
an unpredictable and highly uncertain environment in a relatively short amount of time available
in our quarter schedule. “We did not have enough time,” is never an acceptable excuse in this


                                                                                             4
class. We follow the Parkinson Principle that a problem will grow in complexity in direct
proportion to the amount of time you have to solve it.

Finally, recognizing this is a challenging proposition (create real value) in a challenging
environment (uncertain), we leverage the Learning Map as the underlying framework to organize
the business development effort under such extreme conditions. This framework allows
otherwise inexperienced persons (students) to progress on venture development goals all the
while maintaining the entrepreneurial logic underpinning the effectual perspective. This structure
allows us to prioritize on the essential elements that create incremental value from stage to stage.
In other words, we only focus on the 15 percent of the work we can control (Gareth Morgan),
which means we don’t waste time on non-essentials and we don’t have to eliminate the
environmental uncertainty.

Ultimately we are focused on building entrepreneurial leaders (value creators) and not building
entrepreneurial companies. To do so, we simply have to increase the Team’s confidence in 1) its
perception of the opportunity and 2) its ability to successfully exploit the opportunity regardless
of the uncertainty (William Baumel).


Course Summary
The TEC commercialization model is broken down into the following four phases of the TEC
Protocol.

Ideation: In this phase, TEC Teams identify promising technology areas and sources of product
concepts, which are within the technical capability of the team to analyze. Teams are directed
towards these technology sources, which are primarily university faculty, staff at national research
institutes, or in some cases personnel from small or large business. Next, teams create product
concepts based upon select technologies. It is usual for the 'technology source' to have some pre-
existing product concept(s) in mind. However, depending upon the experience and interest of the
technologist, the product concept(s) may be well conceived and developed, or (more usually) ill-
defined.

It is the task of the TEC Team to create well-defined product concepts. The team is encouraged to
generate a number of concepts, for example a total of 6-8 concepts based upon 2 or 3
technologies. As described in the next phase, there is recognition that a relatively small number of
product concepts will ultimately be viable, and a sufficient number must therefore be conceived
and considered. The Team then evaluates the set of product concepts, and prioritizes them.
Product definition and selection criteria may include such factors as the product performance-to-
cost advantage over competitive products, market size or growth potential, stage of development
and technical risks, and profit potential.

Validation: In this phase, the objective is to screen and evaluate the product concepts to identify
the most promising, while expending the minimum time and resources. The product/market
concept is reconfirmed, and the teams then undertake both a functional and a strategic assessment
of the selected product/market concepts. The components of the functional assessment include:


                                                                                           5
technology; legal; marketing; financial; organizational; and manufacturing/operations. Each of
these assessments are made by answering a set of key questions on two dimensions, representing
the potential (or size of the opportunity) and development (representing the extent stage of
development). The functional assessments can be scored quantitatively.

The strategic assessments include standard tools such as industry mapping, SWOT analysis,
utility analysis, Five Forces, and Value Chain Analysis. It should be noted that teams are initially
searching for fatal flaws in the product/market concepts. These so-called 'flaws' are factors that
make the product concept less desirable in the context of the team objectives. A typical flaw
might simply be that the stage of technical development is too early for the team to carry the
concept forward. If a flaw is identified, the concept is returned to a technology pool database.
Feedback is provided to the technologist, which he/she often finds extremely useful. The
assessments also lead directly to a prioritization of information that needs to be gathered. At the
end of this, and every other phase, there is a formal decision point for each product/market
concept. Teams typically carry two technologies (3-5 product/market concepts) into Validation
and one technology (2-3 product/market concepts) into Phase 2.

Justification: The objective of Justification is to build the case for commercialization. This phase
has the same format as the Validation phase, but differs in a couple of important respects. First,
each of the assessments now includes significantly greater detail. For example, the functional
assessments can include as many as 50 research questions, 3-4 times as many as in the previous
phase. More importantly, the process is transitioning from validating product/market concepts to
justifying business proposition. Whereas in the previous stage we were scoring multiple
product/market concepts, in this phase we are justifying the business case for the most promising.
The functional assessments provide the structural framework for information gathering in a
prioritized manner. In addition, the process is iterative. When flaws or deficiencies are
discovered, the Teams may redefine the product/market concept and revisit the assessments. At
this point, the Teams are interacting regularly with the customer markets, potential competitors
and industry thought leaders as they justify their assumptions about the viability of their projects.

Commercialization - Strategy and Implementation: The objective of the Commercialization:
Strategy and Implementation phase is to finalize the business case based on the information that
has been gathered and decisions that have been made in the previous phases. Optimal strategic
decisions are critical at this stage of the project, and the Algorithm guides the development of a
commercialization strategy by providing structure, and tools to aid decision making. This phase
culminates with the development of a business proposal, which is viewed as a “selling document”
for an early-stage startup business.

The business proposal includes a detailed implementation plan that is used to acquire the critical
resources needed (e.g., entrepreneurial talent and seed capital) to go forward. The proposal can
be used to fashion grant proposals for product development funds, secure angel investors, align
managerial talent, and negotiate licensing arrangements. The technology source organization can
use the business proposal and supporting documentation to evaluate the commercialization
options and, if the Team intends to pursue a new venture, to structure a licensing agreement in
keeping with the knowledge of the particular product/market. If the Team decides not to
implement the venture plan, the host organization can use the resulting information for other
licensing opportunities.


                                                                                           6
Class Impact
The algorithm used in this course has a long history and proven track record of success. Since
1995, the TEC Program has helped its clients raise nearly $400 million in venture capital, which
has resulted in more than 500 new jobs created. Over 500 students and industry experts have
participated in the program, which has produced numerous CEOs, CFOs, Founders, and senior
managers responsible for Product and Project Management, among other senior leader positions.

The last three years at Ohio State, a graduating TEC team has won the 2007, 2008, 2009 and
2010 Fisher Business Plan Competition and finished in the prestigious Materials Research
Society’s Entrepreneurship Challenge, Fortune Small Business Business Plan Competition and
the Annual Rice Business Plan Competition. As noted, however, many graduates go on to
substantial positions in major corporations, universities and research institutions. Some of the
career paths for which the TEC program prepares students are listed below.


      High-Tech Start Up                Large R&D Intensive               Venture Capital
          Companies                          Corporations                      Firms
    Founders                          Corporate Venturing and         Investment/Limited
                                        Strategic Renewal                Partners
    Senior Executives                 R&D Management                  Venture General
                                                                         Partners/Associates
    Business Development              Strategic Technology            Industry/Research
     Professionals                      Management                       Analysts
    Strategic Alliance/Joint          IP Strategy/Management          Portfolio Firm
     Venture Managers                                                    Managers
    Technology/Innovation             New Business
     Marketing Professionals            Development


Student Responsibilities
Students participate in the class as an educational exercise. However, students have certain
responsibilities to the Client organizations who supply the technologies. The work undertaken
for the clients is for the sole benefit of the Client. You as a student do not own the technologies,
product ideas, evaluations, business proposals, or business plans. All reports, information
gathered, analysis completed, and other work produced in connection with the class is the
property of the Client and must be kept confidential and may not be used by you or other
students or transmitted for use by students or anyone else for any reason without prior written
consent of the Client. Students are required to sign a non-disclosure agreement to abide by these
conditions in order to participate in and as a requirement to continue in this course.




                                                                                           7
Structure
TEC Teams are comprised of graduate-level students from various disciplines, with particular
attention to science and technology and business. Each TEC Team includes 2-3 Executive
Mentors to guide the teams through the commercialization process. The Mentors are particularly
experienced; they include experienced entrepreneurs, accomplished business executives,
commercialization experts, and angel/venture capitalists.

The course consists of weekly class meetings and team meetings scheduled as necessary. The
weekly class meets on Thursdays from 6:00 - 9:48 p.m. TEC Team meeting times are to be
arranged by the teams and Executive Mentors.

The first part of each class is separated into three sections: content lectures, guest lecturers, and
case studies / illustrative examples. The second half of each class session consists of team
meetings, which include the students and their Executive Mentors. The Executive Mentors may
or may not attend the team meetings at other times in the week.

Each team is given access to a portfolio of technologies. The technologies are “live” and are
technologies the client is actively marketing for their commercialization potential on behalf of
the inventors and the university/client. The technologies are grouped as best is possible in
similar areas. There is also a pool of other technologies that have not been assigned a particular
team and are available to teams in the event the assigned portfolio is not sufficient to move
forward with the team project.

Assessing the commercial new venture potential of emerging technologies can be a complex
process. The TEC course operates on a strict project management model. In addition to learning
the commercialization process, students will learn critical tasks and techniques in managing
complex projects. In addition, we will be working with Team Dynamix which will oversee the
web platform and the project management system.


Assignments and Evaluation
For this course, final grades are determined by participation and contribution to the TEC Team.
The team participation evaluation will be used, in part, to determine each student’s final grade.
During this course, the commercialization Teams focus on one technology that shows significant
commercial potential. The specific Team activities will include the following.

      Detailed Product Market Description
      Complete Strategic and Functional Assessment
      Written Analysis of Voice of Customer Plan, Concept Test and Expert Review
      Detailed Business Model (with Value Proposition)
      Financial Model and Capital Access Plan
      Market Entry Strategy and Implementation Plan
      Draft Business Plan for your Team's proposed technology venture
      Oral presentation to qualified angel and venture capital investors


                                                                                             8
TEC Team Deliverables (85%)

      Innovation Charter, Documentation and Organization             5%
      Ideation Report and Presentation                              15%
      Validation Presentation                                       25%
      Validation Report                                             25%
      TEC Reports (1 per technology)                                15%

Each TEC Team will complete a series of worksheets in the process of evaluating its pool of
technologies. The worksheets, tools, research instruments, etc. will be available on the Project
Management site. The faculty and the team’s Executives will monitor the team’s progress on a
weekly basis throughout the quarter. As such, the materials must be kept up to date at all times.
Each week the team is expected to bring copies or provide electronic access to any deliverables
due that week for the Executives to review. The final materials are evaluated by the TEC
Team’s Executive Mentors and the course faculty at the end of the quarter and are the major
source of the team grade. The materials will be evaluated on technical correctness,
completeness, as well as the amount, and quality of work. Particular attention is paid to the
decision-making of the team.

Individual Contribution (15%)

      Team Evaluation                                               10%
      Mentor Evaluation                                              5%

Individual contribution will be turned into the instructor, not the Executive Mentors. A portion
of the individual grade will be assigned as a result of each student’s contribution as determined
by team evaluations. In addition, attendance is mandatory and class contribution is expected.
For this class, a student’s contribution will be determined by:

      regular attendance at class and team meetings;
      timely completion of assigned work, including the self assessment;
      contribution to class discussion (direct and indirect) and the team meetings;
      team evaluations of each team member’s contribution; and.
      Mentor evaluations of each team member’s contribution.


Course Materials
No text books are required for this class. However, there is a readings packet that is required.
The instructor will provide access information for purchasing the readings packet. Readings are
assigned weekly and will be discussed in class. Students are expected to have read the assigned
materials and be ready to participate in class discussion. In addition, there are a variety of
(optional) text books that students may find useful as supplemental resources.




                                                                                          9
               The Indus Entrepreneurs, Pugh, D. (ed.), The First Mile: Essentials of
                Entrepreneurship, 2003, Wiley Publishing, Inc., Indianapolis, IN.
               Allen, K.R., Bringing New Technology to Market, 2003, Prentice Hall: Upper
                Saddle River, NJ.
               Tang, K., Vohora, A. and Freeman, R. (eds.), Taking Research to Market: How to
                Build and Invest in Successful University Spinouts, 2004, Euromoney Books:
                London.
               Dorf, R. C. and Byers, T., Technology Ventures: From Idea to Enterprise, 2005;
                McGraw-Hill: New York.

All other course materials will be made available in class, on the project management website
and/or on Carmen. Additionally, lecture materials and notes from guest lectures will typically,
but not always, be posted or emailed for your convenience by 5 p.m. on the Friday following the
Thursday lecture (assuming no technical difficulties).

Team Commitment
As with any graduate level course, students are required to meet with the class and with their
teams each Thursday night during the quarter. Other meetings may be necessary, but when and
how often teams meet is at the discretion of the team. It is also often necessary to occasionally
meet with other people necessary to complete the commercialization project. Finally, team
members contribute to the team effort through their individual contributions made each week.


Office Hours
Formal office hours for the faculty are from 3:30 – 5:30 p.m. on Thursdays or by appointment.
Special meetings with the instructor and Executive Mentors can be made by appointment as well.
If you have questions, it is recommended that you deal with them as follows:

   simple procedural questions – i.e. regarding deliverables, dates, processes, etc. – ask the
    instructor(s) at the beginning or end of class;
   academic questions – i.e., regarding course content or grades – ask the instructor(s) in class,
    call or email the instructor(s), or stop in during office hours; and
   team conflicts – set up a meeting with the instructor(s) and/or the Executive Mentors.


 Course Schedule

    Week                        Topic                                Assignments
 Sept. 23       Course Introduction                   FINAL Due: Student Background Forms
                (Review Design and Expectations)                  Student NDAs
                Student and Mentor Introductions      READING 1: Sarasvarthy’s, “Effectuation”
                                                                2: Allen’s, “Commercialization”
                Introduction to Technology            REVIEW: Technology Portfolios
                Commercialization                             Next Week’s Assignments



                                                                                            10
           Review Course Syllabus and Materials
           Introduce and Review the TEC Algorithm


            Project Management: Tools and             Each student is expected to log on to the Team
            Expectations                              Dynamix Project Management Web Platform after
            Guest Lecturer: Andrew Graf, Team         instructions are delivered by Monday, September
            Dynamix                                   27th by 5:00 p.m.

Sept. 30   Risk Management and Tools                  FINAL Due: Team Innovation Charter
                                                                 Team Configuration
                                                                 Client Contact Established
           Introduction to Risk Management and
           Tools
                                                      READING 1: Porter’s, “Value Chain Analysis”
           Co-Lecturer: Brian Abraham, COO,           REVIEW Next Week’s Assignments
           Groveland Capital
  Week                      Topic                                     Assignments
           Technology Licensing Insights: Team
           Guests: Ohio State and Others

Oct. 7     Product/Market Ideation and                FINAL Due: Technology Descriptions
           Opportunity Recognition                               Client/Technologist Initial Meeting
           Introduction to Social Constructivism      DRAFT Due: TEC Screening Report (#1)
           Introduction to Opportunity Recognition    READING 1: Barron’s, “Opportunity
                                                      Recognition”
           Review Ideation Techniques: Modified       RETURN One Technology to the General Pool
           Nominal Group Technique
                                                      REVIEW Next Week’s Assignments
           Video: Dewitt Jones, “Creativity”


Oct. 14    Value-Guided Market Intelligence and       FINAL Due: TEC Screening Report (#1)
           Industry Analysis
           Gathering Market Intelligence              DRAFT Due: Product Attributes Worksheet
                                                                  TPM Worksheet
                                                                   Market Description Worksheet
           Introduction to Voice of Customer/Expert   READING 1: Barton et. al’s, “Imaginative
                                                      Understanding of User Needs”
                                                      REVIEW Next Week’s Assignments
           Guest Lecturer: Traycer Diagnostics, Lee
           Mosbacker and Brad Beasecker

Oct. 21    Value Proposition and Product/Market       FINAL Due: Team Presentations: Value
           Selection                                               Proposition Pitch
                                                                 Product Attributes Worksheet
                                                                 PAMM
                                                                 Market Description Worksheet
           Introduction to Value Proposition          DRAFT Due: Preliminary Market Assessment
                                                                 Summary TPM
                                                                 Value Proposition Statement
                                                                 TEC Screening Report (#2)



                                                                                              11
          Review Requirements for Ideation        READING 1: Anderson et. al’s, “Customer Value
          Presentations                           Propositions”
                                                  READING 2: Kim and Mauborgne’s, “Creating
                                                  New Market Space”
                                                  REVIEW Next Week’s Assignment


Oct. 28   TEAM IDEATION PRESENTATIONS             FINAL Due: Team Ideation Presentations
          AMD REPORTS                                        Team Evaluations
          Introduction to Concept Testing
                                                  READING 1: “Concept Testing” and Examples
                                                  REVIEW Next Week’s Assignments




  Week                      Topic                                Assignments
Nov. 3    Strategic and Functional Assessments:   FINAL Due: Team Reconfiguration
          Financial Considerations                           TEC Screening Report (#2)
          Review Functional Assessments           DRAFT Due: Initial Functional Assessments
                                                              Phase 1 Report (Technology 3) –
                                                              Client Executive Summary
          Review Financial Planning               READING 1: Byers et. al’s, “The Financial
                                                  Plan”
                                                  READING 2: Financial Planning Tool
          Review Voice of Customer/Expert Plan    REVIEW: Financial Planning Tool
                                                           Next Week’s Assignments

          Guest Lecturer: Larry Mead


Nov. 11   Business Models                         DRAFT Due: Initial Functional Assessments
                                                              Concept Summaries and Discussion
                                                                 Guides
          Review Business Models                  READING 1: Chesbrough’s, “The Role of the
                                                  Business Model”
                                                  REVIEW Next Week’s Assignments


          Co-Lecturer: Brian Abraham


Nov. 18   Strategic and Functional Assessments:   FINAL Due: Functional & Strategic Assessments
          Marketing and Management                            TEC Screening Report (#3)
          Review Go-to-Market Strategies          DRAFT Due: Financial Model and Breakeven
                                                               Analysis
          Review Team Selection Strategies        READING 1: Kim and Mauborgne’s, “Knowing a
                                                  Winning Business Idea”
                                                  READING 2: Baxter et. al’s, “Selection of a
                                                  Management Team”
                                                  REVIEW Next Week’s Assignments
          Video Presentation: Dr. Robert Langer



                                                                                           12
                “Commercializing Medical Technologies”


 Nov. 25        THANKSGIVING HOLIDAY                     No Class


 Dec. 2         Functional Assessments: Technology       FINAL Due: Financial Model. Pro Forma
                Licensing and Implementation Plan                   Statements and Breakeven Analysis
                                                                    Prioritized List of TPM
                                                                    All Technology Documentation
                Review Technology Licensing              REVIEW Next Week’s Assignment

                Review Requirements and Expectations
                for Validation Presentations

                Guest Lecturer: Diane Dobrea, Owens
                Corning

   Week                         Topic                                    Assignments
 Dec. 9         VALIDATION REPORTS AND                   FINAL Due: Validation Presentations and Reports
                PRESENTATIONS                                       Final Team Evaluation
                Review Final Client Communication        REVIEW Next Quarter’s Expectations
                Class SOCIAL – BW3s on Lane Avenue




Role of the Students
As a student, your role will be to develop high quality commercial evaluations of technologies
and business strategies in a professional manner. In the class you will learn the basic tools of
technology commercialization. With the support of team Executives, you will learn how to
apply the tools to actual cases. Students, like professionals, have multiple responsibilities. You
have responsibilities to your clients, fellow team members, and to the class. You will be
expected to give your best effort to every project you are assigned. You are expected to carry
your fair share of the work in the team. You are also expected to conduct yourself with integrity
and professionalism.

          Relationship with Client
          Once the projects have been determined for the team, the students will be responsible for
          the relationship between Team and Client. They may delegate regular contact to a
          particular member. The students are responsible for establishing a working relationship
          with the Client immediately after receiving the technology portfolio. Students should set
          regular scheduled meetings and time frames for the Client and ensure that the Client
          receives a copy of the results of the work done by the Team.

          Clients should be an active part of the team. They should receive a letter of contact from
          the team at the beginning of the project welcoming them into the class, setting
          expectations, and providing information about how to work with the team. Finally, the
          team is required to issue a final letter, technology summary and executive report to the


                                                                                                13
       Client by the end of the first full week following the end of the course. This final
       communication with the Client is extremely important and must be designed to ensure
       closure in a positive manner so that the Client is satisfied with the contributions made by
       the team to Client’s company, and with the conclusions reached.


Role of the Executive Mentors
The Executive Mentors are integral members of the program. Their role is to mentor teams as
they grapple with the challenges of commercializing 'real world' technologies. Their primary
responsibilities are to ensure that the team is making appropriate business decisions and
functioning efficiently and timely, and evaluating their output. TEC Mentors DO NOT do the
work of the TEC team. Given that the TEC teams are student led, executives are expected to 1)
meet with the team regularly (during class time) to review process issues, timelines and
milestones, 2) provide overall direction to the team regarding project management and
overcoming specific hurdles, and 3) guide the team through specific issues directly related to
his/her skills and experiences.

       Schedule and Other Commitments
       The TEC course meets every Thursday from 6:00 to 9:48 p.m. during the fall quarter.
       Executives are expected to regularly attend the Thursday sessions and to meet with their
       teams and to provide the necessary guidance and assess the team's progress. Periodically,
       the Mentor will be asked to meet with their student team outside of class, typically
       around the time of mid-term and final presentations. This is not required and the
       executive has discretion as to whether they will or will not attend out of class meetings of
       the teams. Additionally, executives must sign a non-disclosure agreement, protecting the
       IP rights of any and all technologies evaluated in the program.

       Relationship with Client
       Once the projects have been determined for the team, the students will be responsible for
       the relationship between the team and the Client. They may delegate regular contact to a
       particular member. The Executives should regularly monitor the team’s communication
       with and response to the Client. If necessary, the Executive can help form a working
       relationship between the students and the Client. Teams should set expectations in the
       Client’s mind about their commitments, depth of work, and time frames. Finally, teams
       should be sure that the Client receives a copy of the results of the work completed.

       Following up on Assignments
       Most teams struggle with completing assignments. Experience shows that students have
       difficulty policing other students. Therefore, the Executives will pay particular attention
       to the timely completion of assigned tasks.

       Tracking Student Contributions
       A significant percent of the grade for each student depends on his or her individual level
       of contribution. This requires the Executives to make individual contribution
       assessments. This assessment is done in the Executive Team Meeting by simply noting



                                                                                         14
       who is completing assignments and who is not. The Executives are asked to also note the
       quality of each team member’s contribution.

       Evaluation
       Individual contributions count for a significant portion of the student grade, and this
       depends on the quantity and quality of completed assignments. Students will often
       engage in “extra role” behavior that should be part of the assessment. Extra role behavior
       includes both negative and positive actions and attitudes that affect the Team’s
       performance. Executives will evaluate each team member’s contribution twice
       throughout the quarter. Project performance makes up a large portion of the grade. All
       students on the team receive the same Project grade. The Technology Commercialization
       materials are the primary source of evaluation for the project. All the team’s activities
       and deliverables, including presentations, reports, Client communications, contact logs,
       worksheets, and reference materials are kept up to date on the project web site.

       Decision Making
       When considering whether or not to continue working on a particular technology, a
       formal decision meeting must be held. This helps the team arrive at a decision in a
       systematic and disciplined manner.


Academic Misconduct
The Ohio State University Graduate School expects all student to have read both the University's
code of student conduct and code of academic conduct. You can view these documents or
download them at http://studentaffairs.osu.edu/resource_csc.asp and
 http://www.gradsch.osu.edu/Content.aspx?Content=10&itemid=1. Under these terms, the
graduate school expects all students to uphold the honor code. All students taking courses in the
Fisher College of Business are expected to abide by the Fisher College honor code. It reads as
follows:

        As a member of the Fisher College of Business Community, I am personally committed to the
       highest standards of behavior. Honesty and integrity are the foundations from which I will
       measure my actions. I will hold myself accountable to adhere to those standards. As a future
       leader in the community and business environment, I pledge to live by these principles and
       celebrate those who share these ideals.

While most students have high standards and behave honorably, like every academic institution
we encounter cases of academic misconduct. It is the obligation of students and faculty to report
suspected cases of academic and student misconduct. Students can report suspected violations of
academic integrity or student misconduct to the faculty leaders of this course or to the Dean of
the Fisher College of Business. All reported cases of academic misconduct are actively pursued
and confidentiality is maintained.




                                                                                                      15

				
DOCUMENT INFO
Shared By:
Tags:
Stats:
views:5867
posted:3/29/2011
language:English
pages:15