Phase B

Step 4: Define and validate the value of your technology solution in the market

Step 4 will help you understand:

• The market opportunity of your technology solution, including the range of value your solution brings to the market.
• The perceived value of your technology solution to users, and potential customers and clients.
• Your path to market, including indicators of progress, assumptions and potential risks and consequences along the path.

Learn what Dr Nguyen Thanh Tung (Can Tho University) discovered about the importance of understanding the capability of your research team and being responsive to market feedback.

Step 5: Decide on and seek approval for your go-to-market pathway

Step 5 will support decision making by building evidence and understanding about:

• The risks associated with different market pathways.
• Who to engage with for approval for your preferred path to market.
• The business model best suited to your potential customers and your organisation’s commercialisation goals.
• If you have freedom to operate.
• The best strategy to protect your intellectual property.

Learn why Dr Luu Thai Danh (Can Tho University) believes it is important to act on evidence that suggests you may need to repeat a step in the Commercialisation PLUS puzzle.

Step 6: Validate your commercialisation strategy with the potential customers

Step 6 will help you understand how to:

• Consult with potential customers to test and refine your preferred path to market.
• Identify specific requirements from customers that may influence how you execute your strategy.

Understand what Dr Nguyen Hoang Duong (Viet Nam Academy of Science and Technology) discovered about the importance of validating of your preferred Commercialisation PLUS strategy with customers, before moving onto implementation.