Technology Commer-
cialization and Transfer
our expertise, your success
Build a Strategy to Maximize the Value Generated From Your Innovation
HGM Consulting is a reliable agent in the technology incubation and commercialization market. The company provides comprehensive support in innovative business development, innovation management, technology commercialization and transfer, as well as offers access to its network of private equity sources.
This core capability is an important component of our services and is in demand by start-ups, established companies, academia, investors and the public sector:
- We can help in technology positioning and defining the commercialization approach. We will design the business model and identify the technology transfer strategy building the business case and preparing presentations for the executives.
- We can help our clients develop robust and easy-to-use plans for commercializing their assets. Market research is an essential part of the work. We will deliver insights relating to the regional/national market or industry sector — the strategic business intelligence to be used for business/investment planning and management. As a result, the client can choose the optimal commercialization strategy.
- We can assist clients in outlining the partnership building strategy, as well as in finding the relevant partners for the project. For this purpose, we always work with three key parties — inventor/innovator, investor and industry partner — serving the one who triggered the development process and collaborating with others. We will create the documentation for the partners' due diligence, define and negotiate terms for partnership, negotiate agreements and manage partnership relations.
We can assist in leveraging best management practices and private investment networks to capitalize on your innovation.
Working with academia and various R&D agencies, we develop and facilitate models of technology transfer and assist institutions in promoting their technologies, identifying possible funding and finding markets for generated technology solutions.
Turning knowledge and research results into marketable technology ventures is not yet a consolidated process in the research field. Firms find a lot of difficulties in turning their technology solutions into promising commercial products. Many investors do not feel comfortable with technological issues, and most scientists have little experience in finance and business management. Meanwhile, many financial advisors do not have a background in technology.
This often results in an inadequate project risk assessment, low rates of return on technology ventures and good ideas either not being supported or being poorly developed. That is where our company can help all potential parties of the commercialization project — facilitating the entire business process, connecting the dots, filling the gaps and leading the established partnership to the desired outcomes.
The process of technology commercialization can be represented as a linear process in the graph below. However, in many cases, the reality is not linear as the graph indicates.
The commercialization of technology takes place in one of two ways: licensing to the established companies (industrial purchase order, direct licensing, the sale or assignment of intellectual property rights, licence or licence contract, know-how contract, franchise, acquisition of equipment, consultancy arrangement and joint venture agreements) and establishing a spin-off company.
Most applied research is conducted with strong R&D cooperation between academia and the established industry. Our company, on behalf of the industry partner, identifies a technological need after screening.
Next, we identify the necessary R&D resources for direct interaction with academia. An industry partner with a high absorptive capacity for a specific technology can choose to license the technologies of interest directly from academia.
According to the license agreement, academia then transfers the technology. In this case, the industry partner can absorb all the necessary technical know-how without significant R&D efforts and independently prepare product diffusion.
If an academic organization is targeted at generating spin-off companies, we can provide direct business consulting support on a project basis (support for certain companies) or assist in the institutional building (see specialized section for more data). Institutional development, in this context, includes creating business and innovation support organizations, such as business/technology incubators, accelerators, innovation centres, techno-parks, etc., under the umbrella of an academic organization to enhance the commercialization process and innovative business development — generation of spin-off companies.
The commercialization of technology takes place in one of two ways: licensing to the established companies (industrial purchase order, direct licensing, the sale or assignment of intellectual property rights, licence or licence contract, know-how contract, franchise, acquisition of equipment, consultancy arrangement and joint venture agreements) and establishing a spin-off company.
Most applied research is conducted with strong R&D cooperation between academia and the established industry. Our company, on behalf of the industry partner, identifies a technological need after screening.
Next, we identify the necessary R&D resources for direct interaction with academia. An industry partner with a high absorptive capacity for a specific technology can choose to license the technologies of interest directly from academia.
According to the license agreement, academia then transfers the technology. In this case, the industry partner can absorb all the necessary technical know-how without significant R&D efforts and independently prepare product diffusion.
If an academic organization is targeted at generating spin-off companies, we can provide direct business consulting support on a project basis (support for certain companies) or assist in the institutional building (see specialized section for more data). Institutional development, in this context, includes creating business and innovation support organizations, such as business/technology incubators, accelerators, innovation centres, techno-parks, etc., under the umbrella of an academic organization to enhance the commercialization process and innovative business development — generation of spin-off companies.