Innovative business plan overview
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Innovative Business Planning OverviewTechnology Commercialization Perspectives
Technology-based Business Context
Ratchakrit Klongpayabal
Overview for Innovation Business
Invention Innovation
Intellectual property
+
Product or ServicePrototype
Intellectual Property
New IdeaScience-based
Technology-based
+
Technology proofNovelty proof
Invention
+
CommercializationBusiness management
InventorEntrepreneurBusiness firm
IndividualResearcher, Inventor
Ratchakrit Klongpayabal, 2015
Science, Technology, Engineering, and Design
ScienceThe study of nature and natural phenomena
TechnologySystematic knowledge and action, usually of industrial processes but applicable to any recurrent activity.
Engineeringthe art of directing the great sources of power in nature for the use and the convenience of humans. In its modern form engineering involves people, money, materials, machines, and energy. It is differentiated from science because it is primarily concerned with how to direct to useful and economical ends the natural phenomena which scientists discover and formulate into acceptable theories.
DesignRealization of a concept or idea into a configuration, drawing, model, mold, pattern, plan or specification (on which the actual or commercial production of an item is based) and which helps achieve the item's designated objective(s).
Know why
Know how
Do how
Do to use and feel
Source: McGraw-Hill Encyclopedia of Science and Technology, 2007http://www.businessdictionary.com/definition/design.htmlRatchakrit Klongpayabal, 2015
Roadmap of a Product Commercialization Plan
Adapt from: Shreefal S. Metha, Commercializing successful biomedical technologies, 2008
Business Plan
Business Model+
Financial Plan
Commercialization PlanProduct Development
Invention Idea
BudgetDevelopment
strategy
Ratchakrit Klongpayabal, 2015
Components of a Product Commercialization Plan
Plan
Industry context
Position Patent Product Pass Production Profits
Market research
Intellectual property
rights
New product development -
NPD
Regulatory plan
Manufacture Reimbursement
Adapt from: Shreefal S. Metha, Commercializing successful biomedical technologies, 2008Ratchakrit Klongpayabal, 2015
Steps of Commercialization Processes (Academic-based)
Science
Marketing
Design
Engineering
Technology
Research questionHypothesis testingExperiment DiscoveryPublishingEtc.
Technology developmentTechnology proofingLaboratory prototypeField prototypeIP ProtectionEtc.
Product designPackaging designInterface designUsability designEtc.
IP licensingTechnology transferProduction prototype Production integrationUp-scale productionStandard testingEtc.
Product manufacturingBusiness modelMarketing strategiesProduct launchingEtc.
Research
Development
Value Creation(Hard side)
Value Creation(Soft side)
Value Proposition
Ratchakrit Klongpayabal, 2015
New productBusiness opportunitiesCompetitive advantageMarketing strategyEtc.
Performance increasingQuality ImprovementProduction efficiencyEtc.
Production time decreasingTime to marketEtc.
Material substitutionProcess substitutionLabor substitutionWaste utilizationDefect decreasingEtc.
Basic Rationale to Exploit External R&D
Opportunity Performance Time Cost
Ratchakrit Klongpayabal, 2015
Value Creation Framework from R&D
ResearchDevelopmentTechnology
Key features and their benefitsDeployment experienceUsage experienceMaintenance experienceService experience
Functional Value
Emotional Value Economic Value
What this product does
How it makes you feel What that means in time and money
Time savingCost savingQuality improvementFlexibility enhancement
Value of ownershipValue of affiliationValue of relationshipEmotional significance
Adapt from: Panachit Kittipanyangam, From research to market, 2015Ratchakrit Klongpayabal, 2015
From Research to Solution
STI Research Effect Required Action Solution
Physics Chemistry Geometry
Ratchakrit Klongpayabal, 2015
Sample of Solution
Ratchakrit Klongpayabal, 2015
Dry Your Hair
Cleaning Teeth
Hair Dryer
Teeth BrushingTooth Paste
+Brushing
Heat blow evaporate
Source from: Panachit Kittipanyangam, From research to market, 2015
Required Action from Physical Effects
• Measure temperature• Reduce temperature• Increase temperature• Stabilize temperature• Locate an object• Move an object• Move a liquid or gas• Move an aerosol (dust particles, mist, smoke, etc.)• Separate mixtures• Stabilize an object’s position• Generation and/or manipulation force• Change friction• Destroy object• Accumulate a mechanical and/or thermal energy• Transfer energy (mechanical, thermal, radiation, energy transfer)• Influence on a moving object• Measure a dimension• Change a dimension• Detect surface properties and/or conditions• Vary surface properties• Detect volume properties and/or conditions• Vary volume properties• Develop certain structures, structure stabilization• Detect electrical and/or magnetic fields• Detect radiation• Generate electromagnetic radiation• Control electromagnetic field• Control light, light modulation• Initiate and/or intensify chemical reactions
Physical Effect
Adapt from: Semyon D. Savransky, Engineering of Creativity (Introduction to TRIZ Methodology of Inventive Problem Solving), 2000
Ratchakrit Klongpayabal, 2015
Required Action from Chemical Effects
Transformation of substance
• Carry in space• Change of mass• Change of concentration• Change of specific weight• Change of volume• The changed forms• Change of electrical properties• Change of optical properties• Change of magnetic properties• Change of biological properties• Change of chemical properties• Change of a phase condition• Disposal (destruction)• Stabilization (temporary reduction of activity)• Transformation of two and more substances into one• Protection of one substance from penetration by another• Drawing one substance on a surface of another• Connection of diverse substances (condensation, congestion)• Division of substances (allocation of one from another)• Destruction of substance• Accommodation of one substance in the friend• Reception of new substances (synthesis)• Organization of a closed cycle on substance (absorption-allocation)• Assembly of substance from atoms• Reception of substances with well organized structure (reception of pure• substances)• Transport of one substance through other
Chemical Effects
Adapt from: Semyon D. Savransky, Engineering of Creativity (Introduction to TRIZ Methodology of Inventive Problem Solving), 2000
Ratchakrit Klongpayabal, 2015
Required Action from Chemical Effects (cont.)
Transformation of some forms of energy
• Reception of heat (input of thermal energy in system)• Reception of cold (conclusion of thermal energy from system)• Reception of mechanical pressure• Generation of light radiation• Storage of heat• Storage of cold• Storage of light energy• Transport of thermal energy.• Transport (drain) static electricity• Regulation of light energy• Power influence on substance
Chemical Effects
Adapt from: Semyon D. Savransky, Engineering of Creativity (Introduction to TRIZ Methodology of Inventive Problem Solving), 2000
Ratchakrit Klongpayabal, 2015
Required Action from Geometrical Effects
• Reduce or increase the volume of a body at constant weight• Reduce or increase the area or length of a body at same weight• Transform one kind of a movement into another• Concentrate energy/particles flow• Intensify process• Decrease loss of energy or substance• Increase process • Increase control • Decrease control • Increase lifetime, service reliability• Decrease expenses
Geometrical Effects
Adapt from: Semyon D. Savransky, Engineering of Creativity (Introduction to TRIZ Methodology of Inventive Problem Solving), 2000
Ratchakrit Klongpayabal, 2015
Samples of Required Action and Effects
Geometrical Effects
Adapt from: Semyon D. Savransky, Engineering of Creativity (Introduction to TRIZ Methodology of Inventive Problem Solving), 2000Ratchakrit Klongpayabal, 2015
Chemical EffectsPhysical Effect
Increase temperature
• Electromagnetic induction• Eddy current• Surface effect• Dielectric heating• Electronic heating• Electrical discharge• Absorption of radiation by substance• Thermal-electrical phenomena
Change of concentration
• transport reactions, translation in chemically connected
• species and allocation, translation in hydrate/hydride condition, in
• compressed gases, displacement of chemical balance, adsorption-desorption,
• semitight membranes, complexons, liquid membranes.
Reduce or increase the area orlength of a body at same weight
• Multistory configuration. Gaufres. Use figures with variable
• section. Mobius strip. Use the surrounding areas.
From STI Research to Commercialization Opportunities
New Technology
P1
P2
P3
Knowledge / Solution to Other Domain / IndustryKnowledge to Existing Domain
R3n R2n R1n A1n A2n A3n
Solution to Customer A P1.1
P2.1
P3.1
P1.2
P2.2
P3.2
P1.3
P2.3
P3.3
R3 R2 R1 A1 A2 A3ResearchProcess
Idea from Researcher
Solution to Customer B
Solution to Customer C
Ratchakrit Klongpayabal, 2015
Transformation Processes from R&D to Business Plan
BusinessIdea
ResearchFinding
NewTechnology
ProductIdea
BusinessModel
BusinessPlan
IP Management – Patent, Petty patent, Design patentLicensing – Exclusive, Non-exclusive, Sole, PartiallyAssign, Joint venture
Value chain Analysis / Supply chain AnalysisNew product development – NPDProduct design, Product testing
Market or Industry environmentBusiness opportunitiesCustomer problem solution
Value creation, Value capturing,Business model canvas-BMC, Market researchValue proposition, Revenue stream, Cost structure, IRR,PB
Research processTechnology proof and technology feasibleAcademic journals publishing
Prior feasibility studyBusiness start-up, Industry and market analysisProduction plan, Marketing plan,Operation plan, Financial plan, Risk management plan
ResearcherUniversity
Research supporting agency
ResearcherUniversity, TLO
Research supporting agency
ResearcherTLO
Entrepreneur
ResearcherEntrepreneur
Designer, Engineer, Accredited lab
Researcher and/or EntrepreneurBusiness angel, Venture capital, Crowdfunding
Government funding support agency
Researcher or EntrepreneurBusiness angel, Venture capital, Crowdfunding
Government funding support agencyLender
Ratchakrit Klongpayabal, 2015
Technology Readiness and Commercial Readiness
Source: Australian Renewable Energy Sector, Commercial Readiness Index for Renewable Energy Sectors, http://arena.gov.au/resources/readiness-tools/Ratchakrit Klongpayabal, 2015
Summary of Technology Readiness Level
Source: Australian Renewable Energy Sector, Commercial Readiness Index for Renewable Energy Sectors, http://arena.gov.au/resources/readiness-tools/
Level Summary
1Basic principles observed and reported: Transition from scientific research to applied research. Essential characteristics and behaviors of systems and architectures. Descriptive tools are mathematical formulations or algorithms.
2Technology concept and/or application formulated: Applied research. Theory and scientific principles are focused on a specific application area to define the concept. Characteristics of the application are described. Analytical tools are developed for simulation or analysis of the application.
3Analytical and experimental critical function and/or characteristic proof of concept: Proof of concept validation. Active research and development is initiated with analytical and laboratory studies. Demonstration of technical feasibility using breadboard or brassboard implementations that are exercised with representative data.
4Component/subsystem validation in laboratory environment: Standalone prototyping implementation and test. Integration of technology elements. Experiments with full-scale problems or data sets.
5System/subsystem/component validation in relevant environment: Thorough testing of prototyping in representative environment. Basic technology elements integrated with reasonably realistic supporting elements. Prototyping implementations conform to target environment and interfaces.
6System/subsystem model or prototyping demonstration in a relevant end-to-end environment: Prototyping implementations on full-scale realistic problems. Partially integrated with existing systems. Limited documentation available. Engineering feasibility fully demonstrated in actual system application.
7System prototyping demonstration in an operational environment: System prototyping demonstration in operational environment. System is at or near scale of the operational system with most functions available for demonstration and test. Well integrated with collateral and ancillary systems. Limited documentation available.
8Actual system completed and qualified through test and demonstration in an operational environment: End of system development. Fully integrated with operational hardware and software systems. Most user documentation, training documentation, and maintenance documentation completed. All functionality tested in simulated and operational scenarios. Verification and Validation (V&V) completed.
9Actual system proven through successful operations: Fully integrated with operational hardware/software systems. Actual system has been thoroughly demonstrated and tested in its operational environment. All documentation completed. Successful operational experience. Sustaining engineering support in place.
Ratchakrit Klongpayabal, 2015
Summary of Commercial Readiness Status
Source: Australian Renewable Energy Sector, Commercial Readiness Index for Renewable Energy Sectors, http://arena.gov.au/resources/readiness-tools/
Status Summary
LevelDescriptions
6"Bankable" grade asset class driven by same criteria as other mature energy technologies. Considered as a "Bankable” grade asset class with known standards and performance expectations. Market and technology risks not driving investment decisions. Proponent capability, pricing and other typical market forces driving uptake.
5 Market competition driving widespread deployment in context of long-term policy settings. Competition emerging across all areas of supply chain with commoditisation of key components and financial products occurring.
4Multiple commercial applications becoming evident locally although still subsidised. Verifiable data on technical and financial performance in the public domain driving interest from variety of debt and equity sources however still requiring government support. Regulatory challenges being addressed in multiple jurisdictions.
3Commercial scale up occurring driven by specific policy and emerging debt finance. Commercial proposition being driven by technology proponents and market segment participants – publically discoverable data driving emerging interest from finance and regulatory sectors.
2 Commercial trial: Small scale, first of a kind project funded by equity and government project support. Commercial proposition backed by evidence of verifiable data typically not in the public domain.
1Hypothetical commercial proposition: Technically ready – commercially untested and unproven. Commercial proposition driven by technology advocates with little or no evidence of verifiable technical or financial data to substantiate claims.
Ratchakrit Klongpayabal, 2015
Technology Assessment
Technology Factors
Feasible or proofing
Novelty to industry
Uniqueness aspects
Non-similarity to existing technologyComplexity to imitation
Skill-based required
Complimentary technology need
Performance benchmarking
Strong IP protection
Level of investment
Technology factors include the relevant factors of new technology. These factors may have positive or negative affects for utilization depend to recipient or licensee firm.
Up-scale constraints
Environmental impact
Resource allocation
Ratchakrit Klongpayabal, 2015
Technology Assessment (cont.)
Technical Factors
Technical factors include the quality of products delivered by the technology, the reliability of the technology, and the volume of products that can be manufactured by the technology.
Quality
Reliability
Flexibility
Repeatability
Volume
Adoption Factors
Integratability
Usability
Supplier suitability
Strategy alignment
Risk
Compatibility, Impact
Usefulness, Utilization
Service, Integrity, Partnership
Support, Compatibility
Operation, Technological, Commercial
Ratchakrit Klongpayabal, 2015Adapt from: Noordin Shehabuddeen*, David Probert, Robert Phaal:
From theory to practice: challenges in operationalizing a technology selection framework, Technovation 26 (2006) 324–335
Market Assessment
Market Factors
Market size
Demand for applications
Customer behavior
Potential to buy
Willing to pay
Five-forces
Competitive rivalry
Supplier power
Buyer power
Threat of substitution
Threat of new rivalry
Ratchakrit Klongpayabal, 2015
Industry Environment Assessment
PEST++ Framework
Policy and political
Economic
Social
Technological environment
Legal / Regulation / Standard
Environmental impact
Ratchakrit Klongpayabal, 2015
Logistic Management
Supply Chain Management
Value Chain Management
Internal and External Analysis Tools
SWOT AnalysisPEST FrameworkPorter’s Five ForcesBCG’s Growth / Share MatrixGE/McKinsey MatrixBusiness SystemsValue Chain AnalysisEtc.
Ratchakrit Klongpayabal, 2015
Basic Analysis Tools - SWOT Analysis
Strengths Weaknesses
Opportunities Threats
Internal Factors
External Factors
Positive Effects Negative Effects
Controllable
Uncontrollable
Ratchakrit Klongpayabal, 2015
Value Chain Assessment
The idea of the value chain is based on the processview of organisations, the idea of seeing a manufacturing (orservice) organisation as a system, made up of subsystems eachwith inputs, transformation processes and outputs. Inputs,transformation processes, and outputs involve the acquisitionand consumption of resources - money, labour, materials,equipment, buildings, land, administration and management.How value chain activities are carried out determines costs andaffects profits.
http://www.ifm.eng.cam.ac.uk/research/dstools/value-chain-/
Porter's Value Chain
Ratchakrit Klongpayabal, 2015
Value Chain Assessment (cont.)
Image source: http://logisticsglobal.blogspot.com/2011/08/analysis-value-chain-porter-model.htmlRatchakrit Klongpayabal, 2015
Hype Cycle
Ratchakrit Klongpayabal, 2015 Source: https://en.wikipedia.org/wiki/Hype_cycle#/media/File:Hype-Cycle-General.png
Hype Cycle
Ratchakrit Klongpayabal, 2015 Source: https://en.wikipedia.org/wiki/Hype_cycle#/media/File:Hype-Cycle-General.png
No. Phase Description
1 Technology TriggerA potential technology breakthrough kicks things off. Early proof-of-concept stories and media interest trigger significant publicity. Often no usable products exist and commercial viability is unproven
2 Peak of Inflated Expectations
Early publicity produces a number of success stories—often accompanied by scores of failures. Some companies take action; most don't.
3 Trough of Disillusionment
Interest wanes as experiments and implementations fail to deliver. Producers of the technology shake out or fail. Investments continue only if the surviving providers improve their products to the satisfaction of early adopters.
4 Slope of Enlightenment
More instances of how the technology can benefit the enterprise start to crystallize and become more widely understood. Second- and third-generation products appear from technology providers. More enterprises fund pilots; conservative companies remain cautious.
5 Plateau of ProductivityMainstream adoption starts to take off. Criteria for assessing provider viability are more clearly defined. The technology’s broad market applicability and relevance are clearly paying off.
Potential Types of Technology Strategy in Value Chain
Market for Technologies A company produces the technology and try to sell it as disembodied good to firms that develop it.
Market for Embedded Technologies
A company embodies the technological content in more complex technological systems.
Market for Products The technology is embodied further into product market.
Mixed Strategies The mix of previous strategies.
Source: Chatchawan Chaisuekul, Value Chain/Commercialization Process, 2015Ratchakrit Klongpayabal, 2015
Exploitation Approach of Technology
Source: Chatchawan Chaisuekul, Value Chain/Commercialization Process, 2015
Strategy Technology Result of Action
Sell (Assign)
Early stageNo clear marketHigh risk of failureMinimum investment
Low costLow returnLow risk
Licensing
Partial developSeemly clear marketHigh risk of failureHigh cost of investment
Low costMedium returnLow riskSpread riskReach critical mass
Joint Ventures / Collaboration
Complete or almost completeClear marketNo expertise in marketLow-medium risk of failureHigh cost of investment
High costHigh returnHigh riskBusiness / Market intelligence
Spin-offs /Spin-outs
Mature stageClear marketHigh risk of failureReady infrastructureGood connections
High costHigh returnHigh riskPrestige
Ratchakrit Klongpayabal, 2015
Opportunities for Technology Marketing
How Concept
In-licensing I can use it, but it not my own.Out-licensing I still own, but you can work on it.
Strategic marketing alliances
We sell together.
Co-promotion Two companies, one brand, collaborative relationship.
Co-marketing Two companies, two brands, competitive relationship.
Bio-alliances I’ll discover it, you develop, market and sell it; maybe we’ll even do it together.
Partnerships We do some things together.
Joint venture Let’s start our own company.
Product divestment You can have it all.
Merges and acquisitions We are one. “or” I own you now.
Ratchakrit Klongpayabal, 2015
Exclusivity of Rights
Exclusive license Only licensee and no one else (including licensor) can commercialize patent
Non-exclusive license Licensee can commercialize but so can any other licensee or the licensor
Sole license Licensor and licensee can both commercialize but licensor will not grant rights to anyone else
Partially exclusive license
Partially exclusive license (Usually limited by territory or field of use) Licensee may have rights to commercialize only in certain applications
Adapt from: Shreefal S. Metha, Commercializing successful biomedical technologies, 2008Ratchakrit Klongpayabal, 2015
Territory and Geographic Distribution of Rights
All-inclusive (world-wide)
Licensee has rights in any geographic region (country) in which the patent has issued. This is typically the case for exclusive licenses
Conditional or geographically limited
Licensee has rights to commercialize or practice the patent in a defined, limited set of countries. Partially exclusive or non-exclusive licenses can use this as one criterion to better control and distribute their patent rights
Adapt from: Shreefal S. Metha, Commercializing successful biomedical technologies, 2008Ratchakrit Klongpayabal, 2015
Pros and Cons of Various Types of License
Exclusive license • Greater commitment from Licensee
• Higher fees • Higher royalties• Closer monitoring of
development
Adapt from: Shreefal S. Metha, Commercializing successful biomedical technologies, 2008
• Higher risk of failure of product commercialization
• May be wrong partner or strategy• Licensee will typically have single
focused market approach, thus not reaching maximum potential of technology before patent runs out
• Licensee can use exclusivity to block other potentially ‘‘goodfor-humanity’’ type development work – the typical goal of the inventor
Non-exclusive orpartially exclusivelicenses
• Several paths to market• Several markets addressed
simultaneously• Increased chances of final
commercialization
• Multiple market carve-out may raise problems down the road
• Managing licensees and multiple partnerships may be a challenge
• Usage is difficult if encumbered by other licensees’ efforts, data, or liabilities
• Lower fees and royalties
Type of license Pros Cons
Ratchakrit Klongpayabal, 2015
Technology Acquiring Relationship
Market/Technology Existing TechnologyNew/Related Technology
New/Non-Related Technology
Existing MarketJoint venture & alliance Internal venturing
Venture capital & equity participation Educational Acquisition
Spin off Technology sales
New/Related MarketIn-house R&D Acquisition of possessing firm
In-house R&D Licensing Acquisition of possessing firm
Venture capital & equity participationEducationalAcquisition
New/Non-Related Market
In-house R&D
In-house R&D Licensing Acquisition of possessing firm
Joint venture Internal venturing
Ratchakrit Klongpayabal, 2015
Key Success Factors of New-technology Entrepreneurs
Market research Sales and marketing
Ability to seek and accept help
Execution of sound business
strategies
Analysis, judgement,
foresight, and adaptability
Financing management
Ability to set and achieve important
goals
People skills Persistence Great technology is
the start!Adapt from: Steven Overholt, Mastering Technology Commercialization, 2012Ratchakrit Klongpayabal, 2015
Profit Concept from Technology Exploitation
Research orTechnologyExploitation
Profits Profits
BeforeCommercialize
Revenue Cost & Expenditures
Revenue Cost & Expenditures
Revenue Cost & Expenditures
Revenue Cost & Expenditures
AfterCommercialize
Ratchakrit Klongpayabal, 2015
Stakeholders of Technology Commercialization
BuyerUser Decision MakerTarget customerProspect customer
Ratchakrit Klongpayabal, 2015
5Fs by 4Ps + 4Cs + 4Es
Product
Price
Place
Promotion
CustomerSolution
CustomerCost
CustomerConvenience
CustomerCommunication
ConsumerExpectations
ConsumerEvaluation
ConsumerExperience
ConsumerEmotional
Needs of Customer
Features
Finance
Freedom
Feeling
Future
PriceProduct Place Promotion
PriceProduct People PlaceProcessPhysicalEvidence
Promotion
Planning Sequences of Marketing Strategies for Product
Planning Sequences of Marketing Strategies for Service
Sequences of Mkt. Strategies for Product and Service
Ratchakrit Klongpayabal, 2015
Relationship between Price and Quality of New Product
P1P2
High Quality
P2
P1
High Price
Low Price
Low Quality
P3 P3P4
P4
Ratchakrit Klongpayabal, 2015
Design Thinking and Research Commercialization
Ratchakrit Klongpayabal, 2015
Business People
Technology
Design Thinking
Pricing Chain Concept
University Manufacturer Retailer
D-1 D-2 D-3
Research
Pricing Chain
Lab Scale
100 200 260 338 439 571
30%Assumption ofMarkup Profit
Cost of Goods Sold+
Sales and Administration Expenditure+
Profit
743
Industrial Scale
Entrepreneur FinalDistribution Channel
30% 30% 30%
RetailPrice
Laboratory Cost
30%
Ratchakrit Klongpayabal, 2015
Technology Value Chain
DevelopmentProduct or Process
Applied Science
Basic Science
Market / ManufacturerConsult & HireTransfer & LicenseLicensing
IP IP + Products Products
Industry problem5+++ Years 3-5 Years 1-3 Years
Adapt from: Panachit Kittipanyangam, From research to market, 2015Ratchakrit Klongpayabal, 2015
Business Model Canvas - BMC
CostStructure
RevenueStreams
CustomerSegments
ValueProposition
CustomerRelationship
Channels
KeyActivities
KeyResources
Key Partners
Source: Alexander Osterwalder & Yves Pigneur, 2009Ratchakrit Klongpayabal, 2015
Business Model Canvas - BMC
CostStructure
RevenueStreams
CustomerSegments
ValueProposition
CustomerRelationship
Channels
KeyActivities
KeyResources
Key Partners
Source: Alexander Osterwalder & Yves Pigneur, 2009Ratchakrit Klongpayabal, 2015
Efficiency Value
Product Market
Basic Processes to Develop a Business Plan
Marketing
Operating
Financial
Production
Mkt
. or
Ind
ustr
ial A
naly
sis
Ris
k A
sses
smen
t
Business Idea or Business Overview
Appendix or Exhibit
BusinessModel
BusinessModel
Ratchakrit Klongpayabal, 2015
Judging Criteria for Innovative Business Plan
Innovation and intellectual property managementCreative thinking from business modelCompetitive advantage Commercial viability and potential Product or service process Marketing management Financial results or return to businessCommunication and presentation skills
Source: Ratchakrit Klongpayabal, Business Plan for Innovation Business, 2007Ratchakrit Klongpayabal, 2015