SEMSCIOis developing a program to help startups move from R&D concept to product commercialization. In working with our customers, we have noticed that startup businesses need various degrees of assistance with different parts of their businesses. We have fulfilled this need through customized consulting services, which include company team development to market research to technology plan development. We have also noted that many of the startups have similar needs, roadblocks, and challenges. Therefore, we are building a business accelerator program to help these technical startup companies to navigate these roadblocks. We have found that by helping companies to start their customer discovery process as early as possible, they will obtain invaluable insight that they can not only use in their Phase I and Phase II proposals but can help to successfully commercialize their R&D products.
SEMSCIO provides (a) a customized intake process, (b) customized roadmap for each company, (c) live training and training modules, and (d) evaluation of the milestones for each company. Our process steps are as follows:
Assistance with providing segment size and growth trends. Estimate Total Available Market (TAM), Serviceable Available Market (SAM) and Serviceable Obtainable Market (SOM).
Identification of the customer and end-user roles in the market segment being targeted. Guidance on contacting potential customers.
urrent and/or emerging critical needs that the product or service will fulfill for the customers. Identification of a compelling customer value proposition. Validation of proposed theories.
What is the customer willing to pay for the product or service. Validation of the proposed assumptions. Identification of key market drivers
Identification of the business model will be used to generate revenue from the innovation.
Identification of the challenges that would inhibit sales of the product or service.
Formulation of a plan for reaching customers
Identification of environmental/societal impacts of the technology, product or service.
Developing a story about how the company was started and its history. Identification of company strengths
Capital needed for the implementation of the Commercialization Plan, from pre-commercialization (in Phase II) to full commercialization. Planning how these funds be “staged” in terms of milestones to accomplish the market/customer acquisition objectives.
Revenue history, technologies that contribute to the revenue, anticipated revenue trajectory.
Matching the team to the current and future tasks. Identification of the skills and team that will be needed for Phase II and Phase III.
Identification of future company trajectory, such as acquisition by a large company, or increased growth “trajectory” through investment, sales, or licensing.
Use of patent, copyright, and trademark literature to identify emerging trends. Creation of a competitor matrix table to show current players, their features and prices.
Identification of how the business will protect their intellectual property that results from the innovation, domestically and globally. Develop an understanding of which IP is closest and which is potentially most threatening to the “freedom to operate.”
Strategy for securing investment dollars, and the ideal investment partner for each business, and why they would be "ideal." Identification of specific contacts, leads, previous relationships, and agreements already in place. For outside investment, identify milestones, mention how much money to accomplish each milestone, and how each milestone will increase the value of your product/service/enterprise for subsequent rounds.
Identify the most likely outcome to enable outside investors/investment to get the return on his/her investment (i.e., IPO, sale to/acquisition by a third party). Use of revenues from sales or licensing to assist in the future exit such as an acquisition or merger.
Provide an estimate of the DOE Return on Investment (ROI) or Net Present Value (NPV)
Calculation of the planned price or fee for each product and/or service. Strategy for creating revenues & finding customers. Forecasting of sales by month and year.
Identification of the profit margin (sales/licensing price less cost to make) per unit and how this price varies with volume fluctuations.
Discuss how to have repeat or follow-up on sales with existing customers.
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