Many startups begin with a nugget of technology, says Glenn Egan, vice-president at BDC Venture Capital. To transform it into a product that will generate revenue, entrepreneurs must find ways to displace vendors of existing technologies or discover new markets and products where it can be applied.
To move a technological discovery from the lab to the marketplace, entrepreneurs first need to focus on its unique aspects, Mr. Egan says. “This allows a broader view of how the technology may be applied.”
A realistic evaluation of its potential helps identify the market segment where the greatest value will be recognized to give the entrepreneur the best chance for success. “This is important because a high-value proposition normally translates into a high price and very good margins, and that’s what small companies need to fuel their growth.”
To read the full, original article click on this link: BDC Insight: Lab to commercialization | FP Innovators | Entrepreneur | Financial Post
