Best practices to secure a commercialization grant
Over the last few years, many large funding agencies (including CIHR and NIH) have gone from asking applicants to include a section in their proposal about commercialization to now requesting that a full plan be provided. While writing a well-rounded commercialization plan may seem daunting on top of developing a sound research and technical plan, doing so actually helps you think more strategically about your project, your goals and the potential impact of your ideas. A solid commercialization plan will provide you with a clear roadmap for achieving results and will increase your chances of securing grants.
This slide deck will help you navigate through:
- Key commercialization concepts and considerations
- Key elements that will increase your chances at success and a list of essential resources
- Instruction on how to translate and communicate an offering to a non-academic party
- Concrete examples of how to craft effective messaging and incorporate compelling elements into a commercialization plan
The 海角社区 Spinoff Handbook
If you are interested in starting a company based on intellectual property developed at 海角社区, this handbook developed by the Office of Innovation and Partnerships (I+P), is a great tool that provides guidance, best practices and and helps you avoid common pitfalls.听
Navigating IP at 海角社区
If you want to commercialize an innovation, the question of Intellectual Property (IP) will come up quickly.
In this video, Mark Weber (Director at the Office of Innovation and Partnerships at 海角社区) gives his insight and discusses important questions on the topic of IP. Whether you are a PI or a trainee who wants to take the step towards commercialization, this short video will provide you with useful information to navigate the world of IP.
The Business Plan
An effective business plan is a key component of the entrepreneurial journey.
A successful plan outlines your business goals and your plan to reach them. It provides an overview of your business strategy, milestones, financial plan and projections.
Overall, the business plan includes:
- An executive summary
- An outline of the products and services
- A market analysis summary
- A strategy and implementation summary
- The company and management summary
- A financial plan
- An appendix (if applicable)
Who is it for?
A business plan is a document with various applications. For example, it can be used internally as a touchstone for your co-founders and employees, or could be presented externally to summarize your company鈥檚 vision and value to investors or potential partners.
It鈥檚 important to note that a business plan can be flexible and its content is not set in stone. A good business plan is adaptable and is updated regularly.
The Business Model Canvas
The Business Model Canvas is a strategic and visual tool that describes an organization鈥檚 business model. It helps organizations map, discuss, design and even invent new business models, and is valuable not only to start-up entrepreneurs but also to experienced and senior executives.
In a Business Model Canvas, nine basic building blocks come together to outline the business model:
- Customer segments
- Value propositions
- Channels to reach costumers
- Established costumer relationships
- Generated revenue streams
- Key resources
- Key activities
- Key partners
- Cost structure
More resources on how to use the Business Model Canvas:
The Value Proposition Canvas
The value proposition is the promise to deliver to your customers. It is based on two elements of an organization鈥檚 business model: the customer segment whom you create value for, and the value proposition which will attract costumers.
The Value Proposition Canvas maps out the customer segment and value proposition, and shows the interaction between what is offered by a company or product and what their customers actually want.
The Business Case Template
A Business Case is a structured document designed to be used in the early stages of a project to outline and define its framework. A business case helps stakeholders understand the project鈥檚 objectives and evaluate its feasibility. It also helps define what the project involves, determine if the project can solve a problem or take advantage of an opportunity and helps clarify required resources.
NeuroSphere's business plan template will help you plan your maturation and/or commercialization process and can be used to outline:
- What the project consists of
- Why the project needs to take place
- How will the project be completed
- Who will benefit from the project
- Project timeline
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