NATIONAL UNIVERSITY OF SINGAPORE
NUS Business School
Department of Marketing
BMA 5527: Technology Transfer & Commercialization
Lecturer
:
Assoc Prof Neo Kok Beng
Session
:
Semester II, 2011/12
Venue/Time :
TBA / Tue / 6pm – 9pm
AIMS & OBJECTIVES
This module is jointly developed and delivered by the Department of Marketing and NUS
Enterprise – Industrial Liaison Office (responsible for technology transfer/licensing),
with the support and participation of Exploit Technologies Pte Ltd, the technology
commercialization arm of the Agency for Science, Technology and Research (A*STAR),
and the Intellectual Property Office of Singapore (IPOS).
Technology Commercialization Forum
An integral component for this module is the exploitation and commercialization of
technologies forum organized by A*STAR that brings industry professionals, investors
and entrepreneurs together. It provides a platform to examine trends and key issues in
commercializing inventions and technological innovations. All students are required to
attend the forum for networking, understand the latest technological research and
development, and identify technology commercialization possibilities.
This course focuses on the successful transfer of technologies from a research
environment for commercialization as successful & sustainable products or services to
the global market, via a knowledge-based entrepreneurial wealth-creation process.
Technology commercialization capabilities are essential for an increasingly competitive
environment where existing markets undergo creative destruction and new markets
emerge based on new knowledge and developments in the research laboratories.
Increasing funding for research and development (e.g. Singapore’s National Research
Foundation & Agency for Science & Technology Research) and universities discoveries
have resulted in a fertile and ever-expanding pool of technologies for commercialization
currently and in the coming years.
Guest Speakers
There will be guest speakers for most lectures; including directors of technology
licensing offices, founders of technology licensees from startup, growth, matured and
acquired companies, and IP strategist and attorney.
This is an action-based & experiential-based learning course. Beyond business case
studies, students work with real technologies and innovations from NUS, A*STAR and
independent inventors. Participants will select the technologies presented by NUS,
A*STAR, and independent inventors; perform market research, and develop the
technology commercialization plan. Participants will acquire the capabilities on:
 sourcing and assessing the commercial viability of technologies;
 negotiating and structuring technology licensing deals;
 developing the strategies to bring viable technologies to the marketplace
This course is suitable for participants who intend to be technology entrepreneurs,
technology transfer managers, corporate venture managers & business development
manager, and executives/managers seeking to understand the process of technology
transfer & commercialization, and its strategies.
COURSE MATERIALS
There is no textbook for the course.
Readings and case studies will be used extensively throughout the course.
REFERENCE BOOKS
Finding Fertile Ground: Identifying Extraordinary Opportunities for New Ventures
Scott A. Shane
Wharton School Publishing
HSSML HD62.5 Sha 2004
Technology strategy for managers and entrepreneurs
Scott A. Shane
Pearson Prentice Hall, c2009.
HSSML Books - HD45 Sha 2009
BioDesign: The Process of Innovating Medical Technologies
Zenios, Makower,Yock
Cambridge University Press, 2009
COURSE ASSESSMENT
Class Participations
Course Reflection
Market Viability Study
Licensing Agreement & Term Sheets
Technology Commercialization Plan
Case Study
15% (Individual)
15% (Individual)
20% (Individual)
15% (Group)
15% (Group)
20% (Group)
Student groups will be pitching their commercialization plan to an Investment Panel by
NUS Enterprise & A*STAR. The pitching will be factor into the final grade.
SCHEDULE
Session /
Topic
Instructor
Technology Opportunities
1
Introduction to Technology Commercialization
Guest
Speaker
Technology Transfer/LicensingOffice
Readings
Towards an Entrepreneurial University: The Case of NUS
Wong Poh Kam, Ho Yuen Peing, Annette Singh
Director of
Licensing
University Research and Offices of Technology Transfer
California Management Review
Fall 2002, Vol 45 No1, 88 – 115
The Innovation Incubator: Technology Transfer at Stanford University
http://www.strategy-business.com/press/16635507/13494
2
Opportunity Identification & Evaluation
Readings
Prior Knowledge and the Discovery of Entrepreneurial Opportunities.
Scott Shane
Organization Science, Jul/Aug 2000; 11, 4 pg 448
Fertile Ground for Business Opportunities
Chapters 1, 2 & 4
Scott A Shane
Teaching Note on Opportunity Assessment: The 3 S Framework
Neo Kok Beng
Assignment
Students will be given a list of technology offerings by NUS, A*STAR
and IPOS and select one technology that has commercialization
potential.
All students must post their commercialization ideas on IVLE Forum by
23 Jan (Sun) under Week 1 heading.
All students are to comment on at least 3 postings by 25 Jan (Tue).
Case
Advanced Electronic Beams
Lee Fleming, Thomas Perry IV
HBS Case 9-608-803
Technology
Licensing
Managers
3
Competitive Intelligence & Technology Audit
Pre-class videos:
Students must view the video on intellectual properties and patents by Ms
Charlotte Tan of IP Academy.
http://nuscast.nus.edu.sg/PublicEvents/1/MODVideoOnly.asp?KEY={D15
4D391-3283-4861-AF2D-2F7CEC7E347A}
Dr Allen Yeo
Principal
Consultant
Thomson
Reuters
Readings
Fertile Ground for Business Opportunities
Chapters 7 & 8
Scott A Shane
Class Discussion
Students will discuss their commercialization ideas based on the postings
and feedback on IVLE
Assignments
Students will build patent map for their commercialization idea based on
the technique and using the software taught in class.
4
Market Strategies & Business Model
Readings
Reinventing Your Business Model
Mark Johnson, Clayton Christensen, Hennng Kagermann
Harvard Business Review, Dec 2008
Disruptive Innovation
Clayton Christensen
Harvard Business Review
Fertile Ground for Business Opportunities
Chapters 3, 5 & 6
Scott A Shane
Case
Automated Wearable Artificial Kidney (AWAK)
NUS Teaching Case
Neo Kok Beng
5
Market Viability Presentation
Assignment
Students submit their market assessment report based on the 3S
Framework that covers market size, sustainability and scalability. The
assignment includes 5 slides which all students will have 5 minutes to
present.
Founders of
NUS
/A*STAR
spin-offs
Technology Licensing
6
Technology Roadmap, Product Development & Costing
Readings
The Elements of Platform Leadership
Michael A. Cusumano, Annabelle Gawer
Sloan Management Review, Spring 2002, Vol 43, No 3
Group
Formation
Teaching Note on Regulatory Strategies, Certification & Quality
Management
Neo Kok Beng
Students will discuss the various milestones to develop the technologies.
Case
Commercializing an MRI Breakthrough
Lee Fleming
Harvard Business School
Case 9-608-064
7
Commercialization Plan
Readings
Teaching Note on Venture Evaluation: The 3C Framework
Wong Poh Kam
Founders of
NUS/A*STAR
spin-offs
Fertile Ground for Business Opportunities
Chapters 9 & 10
Scott A Shane
Case
Anacle Systems
NUS Teaching Case
Wong Poh Kam
8
Technology Valuation & Negotiation
Readings
Successful Technology Licensing, World Intellectual Property
Organization (WIPO)
http://www.wipo.int/export/sites/www/ipdevelopment/en/strategies/pdf/publication_903.pdf
Exchanging Value - Negotiating Technology Licensing Agreements -A
Training Manual World Intellectual Property Organization (WIPO) &
International Trade Centre (ITO)
http://www.wipo.int/sme/en/documents/guides/technology_licensing.ht
ml
Case
Syndexa and Technology Transfer at Harvard University
Richard G Hamermesh, David Hyman
Harvard Business School
Case 9-808-073
Founders of
NUS
/A*STAR
spin-offs
9
Negotiation Exercise
NUS ILO staff
Students will meet NUS & A*STAR staff for 30 ~ 60 minutes for
licensing negotiation and obtain a term sheet.
10
Technology License Presentation
Groups will present their term sheets, discuss their negotiation strategies
and trade-offs. Each group has 30 minutes for presentation (including 10
minute for class discussions).
11
Technology Commercialization & Networking
Financial Plan & Fund Raising
Readings
Note on Valuation in Private Equity Settings
Josh Lerner, John Willinge
Harvard Business School
Case 9-297-050
Founders of
NUS
/A*STAR
spin-offs
Entrepreneur Pitch Workbook
Canaan Capital
http://www.canaan.com/home/partnerships/poptech
Funding a Medical Device Startup
http://www.devicelink.com/grabber.php3?URL=http://www.devicelink.c
om/mddi/archive/00/01/004.html
12
Case
Term Sheet Negotiations for Trendsetters, Inc
Harvard Business School
Case 9-301-358
Case Study Presentation
Students will present the case study of the companies they studies and
the issues faced during commercialization
13
Technology Commercialization Forum (date to be informe)
14
All students will be registered for the A*STAR Innovation & Enterprise
Week, with compulsory attendance for selected sessions.
Technology Commercialization Plan Presentation
Biopolis
Investment
Panel from
NUS
Enterprise
ASSIGNMENTS
1. CASE STUDY
This is a group project.
The students will identify a technology transfer and commercialization project. A list of projects will be
provided. The case study, between 5 to 10 pages, will focus on at least 1 major issue of a technology
commercialization project; such as market opportunity, licensing, intellectual properties, technology
transfer, manpower, product development.
Submission deadline:
TBD
2. MARKET VIABILITY STUDY
This is an individual project.
Each student will select 1 technology from the presentation by NUS, A*STAR & IPOS and develop a
business idea (product or service offering) and perform a market viability study based on:
 Size:
Market Segmentation, Targeting & Positioning
 Sustainability:
IP mapping, competitive intelligence & strategy
 Scalability:
Business model & growth strategy
Submission deadline:
TBD
Presentation:
TBD (5 slides, 5 mins, per student)
3. LICENSING AGREEMENT & TERM SHEET
This is a group project.
Each group will participate in a 30 – 60 mins technology licensing negotiation session with NUS-ILO.
A*STAR –ETPL & inventors with the objectives to obtain an agreeable term sheet and licensing
agreement from ILO/ETPL/inventors.
The group needs to prepare 2 documents
- licensing plan: market study, financial projections, technology & product roadmap
- negotiation strategy: valuation, BATNA, terms & trade-offs
The class presentation will focus on experience and lessons learned during the negotiation exercise, the
strategy in a win-win negotiation and the decisions and trade-offs that will lead to the final licensing
agreement and term sheet.
Submission deadline:
Presentation:
TBD (online to IVLE)
TBD(30 mins per group)
4. TECHNOLOGY COMMERCIALIZATION PLAN
This is a group project.
The group will prepare a commercialization plan, with the aim of raising fund from the investment
community (angels, venture capitalists and corporate ventures).
Each group will present to a panel of investors, entrepreneurs and industry professionals during the
Technology Commercialization Forum.
Submission deadline:
Presentation/Pitching:
TBD(online to IVLE)
TBD(Investment Panel from NUS Enterprise)
4. REFLECTION PAPER
This is an individual paper.
Students are to reflect their learning journey for technology commercialization and provide feedback on the
process and insights and discoveries on their learning.
Submission deadline:
TBD(online to IVLE)