Innovation and Commercialization: Task 3 and 4

This presentation explores the crucial aspects of commercialization and new product development (NPD). It delves into the importance of the commercial funnel, highlighting its role in introducing new products and services to the market. The presentation also examines the significance of commercial funds, emphasizing their contribution to social benefit, economic growth, and industry partnerships. Furthermore, it provides an overview of NPD, outlining its process and key variables. The presentation then explores various applications of NPD, including the development of entirely new products, repositioning existing products, and implementing product improvements. The presentation also outlines the steps involved in creating a business case for innovation, emphasizing the importance of understanding the market, mobilizing resources, creating a compelling proposition, testing the concept, and executing the plan. Finally, the presentation discusses the critical role of protecting knowledge and intellectual property, highlighting the importance of intellectual property management in enhancing competitiveness, technology, and innovation. It explores various tools for protecting intellectual property, including patents, trademarks, industrial design registration, copyright, and geographical indications.

Innovation and
Commercialization
Task 3 and 4

Presentation will Cover
 Importance of commercial funnel and
applications of NPD (New Product
Development).
 Innovation business case for accessing the
funds.
 Various tools used for protecting, managing
and retaining the knowledge and intellectual
property.

Commercial Funnel
It is the method of introducing new services and
products in general market. It helps in
utilization of marketing, sales, account
production, distribution and customer support.

Importance of
Commercial Funds
 Social benefit
 Economic growth
 Industry partnerships

New Product
Development
 This is the process of specifying the products
and services to market. It uses three variables
cost, time and equality.

Applications of New
Product Development
 New to world’s product
 Repositioning of the product
 Product Improvements

Steps of Business Case
for Innovation
 Understand
 Mobilize
 Create
 Test
 Execute

Protection of Knowledge
and Intellectual
Property
 Intellectual Property management is
important for increasing the competitiveness,
technology and Innovation.
 Knowledge are the assets of the company
which are important to protect.

Protection of Knowledge
and Intellectual Property

Tools of Protecting
Knowledge and
Intellectual Property
 Patents – It provides protection to the
business for 20 years.
 Trademarks and Service Marks – It helps in
protecting the distinctive marks like
numerals, lectures, figurative elements etc.

Cont…
 Industrial Design Registration – It helps in
protecting the non-functional features like
shapes, patterns, composition etc.
 Copyright – It helps in protecting the
creative work.

Cont…
 Geographical Indications (GI) – It helps to
protect the distinctive names like
manufacturing and originating from country’s
region and territory. It takes 10 years for
protecting the rights.

Tools for Protecting
Intellectual Property

References
 Dincer, I., 2017. Importance of research,
innovation and commercialisation for
technological success. International Journal
of Research, Innovation and
Commercialisation, 1(1), pp.8-22.
 Abdul Razak, A., Murray, P.A. and Roberts,
D., 2014. Open innovation in universities:
The relationship between innovation and
commercialisation. Knowledge and Process
Management, 21(4), pp.260-269.

Thank You!