ASTP training course marketing & deal-making 23, 24 & 25 January 2013 in Vienna, Austria course team: Henric Rhedin (course director), Chalmers Industrial Technologies, Sweden & Martin Raditsch, InnovationLab GmbH, Germany Wednesday 23 January Marketing Strategies Course introduction
08.45 - 09.00
Henric Rhedin, Division Manager, Commercial Research & Development, Chalmers Industrial Technologies, Sweden 09.00 - 10.30
Developing a pre-marketing technology strategy
What does it mean to develop a strategy for the exploitation of a technology? What are the components of a commercialization ‘strategy’ – what are the key decisions that have to be taken? What should be first, the market or the application ? How do we assess value ? To what extent can you decide your strategy up front and how much emerges over time as you experiment and gather information. In this session you will be presented with a number of new technologies for which a marketing approach has to be decided. Through interaction, a common decision framework will be outlined for determining how technologies can be developed and prepared for the market. Jeff Skinner, Executive Director, Deloitte Institute of Innovation and Entrepreneurship, London Business School, United Kingdom
10.30 – 11.00 COFFEE BREAK
Thursday 24 January Negotiation 08.30 - 09.15
Negotiating a deal: what’s your problem? Discussion & ‘Split the chocolate’ Ice Breaker
Having found a commercial partner to work with, you then need to negotiate terms. In this session we explore what we find variously difficult, uncomfortable and problematic about the negotiation process. The session forms the preamble to a day devoted to negotiation practice – a selfconfessed skill deficit common to most TT managers. What are the most common problems and causes of failed negotiations and what tools and insights can we use to improve? Henric Rhedin & Jeff Skinner 9.15 - 10.15
Case study - How important is it to prepare for negotiation?
A successful negotiator ends up with more of the ‘pie’ than they should (given the relative power & inputs of each party). How much effort do we put into calculating what we need, want or ‘get away with’ at the negotiation table Can we make it up as we go along? We have plenty of excuses - we are often overwhelmed with work, or researchers show up with a company partner with no notice. Or perhaps you think are the best with persuasive techniques and you´ll negotiate just as well with no preparation, no matter what the subject is about. Let’s explore using a simple ‘distributive’ case study, preparing and negotiating in pairs. Did preparation result in you reaching a better deal? Jeff Skinner & Robert Marshall, Negotiation and Conflict Resolution, Robert Marshall & Associates, United Kingdom 10.15 – 10.45 COFFEE BREAK
Friday 25 January Mechanisms & Fine tuning 08.30 - 09.30
Best practices in technology marketing
We live in a competitive world where new technologies are abundant. It is very rare that companies come knocking on your door to acquire one of the technologies in your portfolio. So, how to “advertise” your technology? Should you post it on a website and if so which ones are effective? Or should you rather take part in speed-dating events? What about organizing your own network events as a way to find partners? In this session, we will invite you to share your own experiences so that we can identify which are successful strategies and which ones are not. Anja Zimmermann, Analyst, Ascenion GmbH, Germany 09.30 - 11.00
Capturing the essence of an agreement
Once verbal agreement has been reached on a deal the final terms need to be written down and turned into a legal agreement. You may not write that agreement but it is your responsibility to make sure that the terms are clear and workable. In this session we attempt to disentangle an agreement negotiated by an academic - turning a vague 'wish list' into a clear memorandum of understanding. Udo Elsner, Partner, Dr. Udo Elsner Rechtsanwalt KG, Austria & Jeff Skinner
11.00 – 11.30 COFFEE BREAK
11.00 - 12.30
Good opportunities, bad opportunities
No matter how good a technology, if the target market is dormant or the industry is stale it's unlikely you'll secure interest or investment. Many spend years promoting a great technology that has little hope. How can we tell where to focus our energies and when to give up? In this session we use a case study (handed out) of a novel technology to develop a powerful framework for assessing the value of any new technological opportunity. Henric Rhedin & Martin Raditsch, Managing Director Business, InnovationLab GmbH, Germany
10.45 - 11.15
From ‘bargaining’ to ‘value creation’ ‘Owning the Orange’ exercise.
“Value” may refer to the cost of development of a certain technology. “Value” may be what you think a technology is worth. “Value” may represent what the company is willing to pay for. May your negotiation skills affect any of these values? An effective negotiator should not only be able to assertively address its own interests as well as understand the other side´s interests – indeed, this may be the only way of reaching any resolution. We introduce a framework for conducting any negotiation, using a simple exercise to illustrate. Robert Marshall
11.30 - 12.15
Pricing the deal – setting the frame of reference
Universities often find themselves on the defensive when negotiating on ‘price’ – only later do they realise the value that they’ve unlocked for the company – when it’s too late. This is partly down to lack of preparation. But it can also be that we enter negotiations with the a completely wrong mind-set which dramatically lowers our aspirations. In this session is a bit of social experiment – we’ll give you a number of different briefings for essentially the same piece of licensable technologies and then attempt to see why it is that you reach very different deals. Jeff Skinner
11.15 - 12.30
Case study - Value creation in stressful situations
Stressful environments, too many parties with too many different interests and difficult conversations are some of the aspects that can further affect the outcome of a negotiation – your mind freezes or you feel ‘bullied’. How you behave and the tactics you use to deal with such situations are also important issues to be considered. Participants will be divided in groups of 4 and face and a case of value creation in a scenario where the other side(s) seem to have all the power and are prepared to use it. Robert Marshall 12.30 – 13.30 LUNCH
12.30 – 13.30 LUNCH
12.15 – 13.15 SANDWICH LUNCH
13.30 - 14.30
Value proposition identification
Session includes introduction and short case. One crucial ingredient in marketing is to display the aspect that the customer values not what the inventor believes is valuable. The identification of the value proposition is depending on a large number of factors such as market structure, IPR position, team, customer etc. In this case study we will explore what makes a compelling value proposition and how we identify this proposition as quickly as possible. Martin Raditsch
Pitching opportunities
14.30 - 15.00
We are often invited to pitch our ideas in meetings and other forums. Often we have very little time to get over the essence of the opportunity – and even when we’re given enough time those opening few sentences are all that matters in terms of making an impression. In this exercise we discuss the importance of first impressions and set out the elements of a good initial pitch. Henric Rhedin & Martin Raditsch 15.00 – 15.30 COFFEE BREAK
The sales process
15.30 - 17.30
Many of us (and many academics) find it hard to 'sell' to potential partners. We like to talk - often far too much about what we have but don't have strategies for 'advancing' the dialogue towards a deal - often getting stuck in a fruitless cycle of information exchange. However, successful (sales) conversations have a pattern that is intuitive, easily-learned and not at all 'pushy'. In this session we learn, and practice, how to structure such conversations. Jeff Skinner 17.30 - 17.45
Wrapping up the day – Lessons learned 19.30 SOCIAL PROGRAM (dinner)
13.30 - 17.30
Case study - Multi-party negotiations: so you think you can negotiate…
When multiple parties and interests meet, deal-making can become complex and fuzzy. At that point, strategic negotiation skills can offer a solution to the problem. During this 4-hour case study, you will be emerged in a multi-party negotiation situation where you will find two different universities entangled in a deal-making process with a spinout and a multi-national company. It will be your job to use all your negotiation skills to get to a sustainable deal for the party you have taken on responsibility. In multiple rounds, you will have to get an insight into the different positions and grasp opportunities to create value for your organisation. Henric Rhedin, Martin Raditsch & Robert Marshall 13.30 13.45 14.30 15.45 17.15
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13.45 14.30 15.45 17.15 17.30
introduction round 1 round 2 round 3 feedback & conclusions
17.30 – 18.00 COFFEE BREAK 18.00 - 18.15
Wrapping up the day – Lessons learned
COURSE ENDS