The Opportunity phase consists of identifying the scientific and commercial value( market segments) technology.
2. Protection (Intellectual property)
Once a the technical and commercial scope of innovation is valuated, a patent, trademark or copyright protection process will be initiated.
3.Business Case and Commercialization Plan
This part of the process will determine the commercialization plans and opportunities.
4.Building the Team and Securing Capital
Having the right expertise on your team will not only make the project more viable, it is critical to securing the needed capital investment for implementation and commercialization.
5.Executing the Plan and Developing the Product
Your work to this point has been preparation for starting the business or executing your commercialization plan. This phase includes the deal-making negotiations of selling the technology to an existing business or th e start-up process of a new business venture.
At every step along the way, your business development plan will be reviewed,refined and validated by the company.