Lab-to-Market: Technology Commercialization Fundamentals
Expanding therapeutic or diagnostic options is the goal of translational research. Bringing a product to market requires different skills/knowledge than the research to develop the innovation. Lab-to-Market: Technology Commercialization Fundamentals provides innovators with the understanding to translate academic discoveries into practical solutions. Seminars provide background information, while developing a HealthAdvance® application with expert guidance comprises the experiential component.
Skills / Knowledge
- Commercialization Planning
- Entrepreneurial Strategy
- Intellectual Property Protection
- Investor Pitch
- Launching University Start-Ups
- Market Opportunity Assessment
- Product Development
- Product Positioning
- SBIR/STTR Funding
- Technology Commercialization
- Technology Licensing
- Technology Validation
- Venture Funding
Earning Criteria
Optional
Prerequisites: 1. Submission of a Notice of Invention Form to Innovation Ventures in the Rutgers Office of Research, pursuing intellectual property protection through the development of a provisional patent application filed with the United States Patent and Trademark Office (USPTO). 2. Submission of a Pre-Qualification Form to the HealthAdvance program. 3. Receipt of an invitation to submit a full application to HealthAdvance for commercialization funding.
Basic Understanding of Product Development and Commercialization: Documented completion of a minimum of 2 “Road to Commercialization Symposias” [Innovation and Commercialization 101 Bootcamps] within a single year.
Preparation and submission of a HealthAdvance/Xpress application for commercialization funding. This entails working no less than 22 contact hours with a program-appointed Mentor-in-Residence, a subject matter expert, who will: assess the project’s feasibility, relevance and impact; provide consultation and guidance on product development and commercialization plan; and instruct applicant on crafting application sections.
Developing and submitting a HealthAdvance application to further develop a specific technology. Application consists of various segments including defining the unmet need, description of innovative solution, market landscape, competitive advantage, intellectual property strategy, project plan, funding needed to reach a viable exit or major inflection point, regulatory and reimbursement strategy, and team strengths.
Revising application based on HealthAdvance’s industry expert reviewers’ evaluations and comments. This is an iterative process of revision and required consultations with reviewers over a period of 45 days and at least one iteration.