Commercialization Overview

Jun 2, 2022 | Research Report

 

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  • Commercialization is the process of taking a product or innovation and making it available for public use.
  • To be successful, a company must have a positive convergence of three factors: human (desirable), technology (feasible), and market (viable).
  • The typical commercialization process has four phases: concept development, product development, launch preparation, and product launch.
  • The Unmet Need: Define the clinical problem both qualitatively and quantitatively. Consider what customer need(s) the product address, what product family it falls into, and what is the general workflow in which the product would be involved.
  • The questions in the “Initial Assessment” section are meant to help you determine whether your invention is worth pursuing.

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