Commercialization and problems with case studies in Industrial Pharmacy

commercialization, practical aspects, problems, case studies, process of commercialization,

1. Commercialization Practical aspects and problems Case studies Archana.k

2. Introduction Technology transfer and commercialization considered as the linear progress in early days. The it is considered the process is highly non-linear now. The horizontal transfer is nothing but transfer of technology horizontally from one place to another place. Vertical transfer occurs when technology moves from the applied centers to R&D departments. Many companies, universities and governmental organizations have technology transfer office (TTO) also known as “Tech Transfer” or “Techxfer”. This office has dedicated to identifying potential research for commercial exploitation. The process to commercially exploit research varies widely that can involve licensing agreements or setting up of joint ventures and partnerships to share both the risks and rewards of bringing new technologies to market. Some corporate uses spin-outs where the host organization does not have the necessary will, resources, skills to develop a new technology. They depend on venture capital(funding from corporate) This practice is more common in USA, EU, Canada.

3. Due to its complexity the technology transfer has organizations of multi disciplinary such as economists, engineers, lawyers, marketers and scientists. Since 1980 there has been a marked increase in TT intermediates specialized in their field that has stimulated in large part by the act of BayhDole Act( Legal frame work of university generated, federally funded inventions to the market) Commercialization is the process of introducing new product or production method in to the market. Many technologies begin in the market and are not feasible to release in to the market. R&d plays major role for further development which consumes time to commercially improve the product. The launch of the new product is the final stage with the advertising, sales promotion and other marketing efforts. Three key aspects: To sustain loner period of time Stage wise process Involve stake holders customers also.

4. Process of commercialization Opportunity: Identifying the scientific and commercial value of the discovery. Cultivation of network in field, research and documentation Proper documentation is necessary as it is the protection of innovation. Protection : Patent, trademark or copyright protection process is initiated. Trademarks protect the brands, symbols, logos and colors. Copyrights protect original work of authors, composers, programmers and screen writers. As innovation is taking shape it is must to evaluate business development goals. Commercialization plan : Analysis of market and industry that creates value proposition ,identification of potential customer. It is important to focus on customer needs and expectations. Document business operations, legal structure of business, marketing, growing plans, financial and the team details.

5. Expert team and capital security: The right and expert team makes the project viable Investors need assurance that the team have necessary expertise to execute the plans in the project. Team needs to prove to the investor that they can make progress in commercialization in a specified amount of time. Implementing plan and product development : Deal making decisions for selling of the technology to an existing business or the start-up process. Start up includes finding physical location, hiring personnel, physically organizing the business workflow, stocking supplies, developing prototypes, general administration.

6. Problems in commercialization In research institutions : Weak intellectual properties Weak early stage ideas Overcome : Providing funding for the concept projects (bureaucracy free) Hand on training for high quality cadre managers who creates eco-system to commercialization activities. Empowering R&D institutes to commercialize the technology Case studies:

7. Case studies Failed cases:

8. Thank you