What is “Technology Assessment”?

Technology Assessment is a process by which the commercial potential of applied science and engineering can be determined.

“Technology” includes products, processes, devices, services or other embodiments of applied science and engineering.

The process is analytic and systematic.

“Potential” is influenced by a number of identifiable factors:

  • Technical feasibility
  • Requirements for/barriers to implementation
  • Available markets
  • Competing technologies

Technology assessment is useful in situations where client management is uncertain about the commercial prospects for its technology.

The output from a well-planned and executed technology assessment: both qualitative and quantitative answers to fundamental questions in technology-based businesses, e.g.,

  • “This technology is available to us…should we invest in it?”
  • “There are several technologies available to us…which should we choose?”
  • “What is this technology worth?”
  • “We have this technology…what (else) can we do with it?”

We at Prakteka LLC developed our expertise planning and implementing technology assessments in the context of numerous and diverse client assignments, all focused on using technology to create business value. We are here to help you answer business-critical technology questions, too.

For a customized plan for your needs, contact us at https://www.prakteka.com/contact-us/

For more on technology assessment, see the expanded discussion on our Prakteka LLC website, https://www.prakteka.com/category/technology-assessment/

If Your Business Depends on Intellectual Property

If your business depends on intellectual property (IP), then “best practices” for your IP business activities are those that…

…support the business objectives of the company and

…increase company value.

For any high-performing business, there are 4 key building blocks: strategy, processes, resources and organization. Here are these building blocks applied to IP business practices:

  1. Strategy: Which invention concepts are we free to develop? Which are worth patenting? Can we/should we consider an Engineering-to-Own-the-SpaceSM innovation Strategy? 1
  2. Processes: Who decides how and where we should invest our development dollars?
  3. Resources: Can we accelerate our development or broaden our reach by bringing in technologies from the outside? If so, which ones, from where, and for how much?
  4. Organization: Do our IP development initiatives and outcomes have top management’s attention, understanding, and endorsement?

Adopting high performance IP  business practices can enable you to:

strengthen and even shift the basis of your competition

protect IP that delivers high value to your customers and end-users

avoid product and/or technology obsolescence

We at Prakteka LLC developed our IP expertise in the context of numerous and diverse client assignments, all focused on using intellectual property to create and sustain business value. We are here to help you, too,  maximize the impact of your IP on business value.  For a plan customized to your needs, contact us at https://www.prakteka.com/contact-us/

  1. For more on the “Engineering-to-Own-the-Space” Innovation Strategy, follow this link to the SlideShare presentation: https://www.slideshare.net/mhastbacka/engineeringtoownthespace-innovation-strategy

Engineering-to-Own-the-Space is a service mark of Prakteka LLC.

Marketing Technology? What Your Prospects Want to Know

Seems as if everyone is marketing technology these days. Start-ups, mid-sized companies, inventors, individual entrepreneurs, major global corporations…all of them are promoting new technologies. But, when it comes to moving their prospective customers down the “awareness, consideration, preference, sale” funnel, many marketers are stalled even before they start!

Before you start preparing your marketing presentation, consider these 5 key facts your prospects want to know about your technology:

  1. What are you selling? An idea? A product? A technology? A development or commercialization collaboration?
  2. What does it do? Prospects don’t buy ideas or products or technologies or collaborations…they buy what these things DO! And they are most interested in what these things DO for THEM!
  3. Do any other companies provide what you’re selling? If so, your prospects need to know how you are different and better, in ways that are meaningful to them.
  4. How do you know what you’re selling works? And how do you know your offering is better than any competitor’s offering that might offer the same functionality? Said another way: who has validated your claims and how?
  5. What is the value of your offering to your prospect? Reduced cost? Better performance? Easier to manufacture? Long life? Simple servicing? Understand what’s valuable to your prospect and direct your answer accordingly.

Use the above 5-point guide not only to prepare your marketing presentation but also to identify the prospects with genuine need for and interest in what you’re offering.

Want some customized help in preparing your marketing presentation? Contact us at https://www.prakteka.com/contact-us/

Or email us directly at mah@prakteka.com

For more about technology commercialization, go here https://www.prakteka.com/category/technology-commercialization/