Rare Innovation will begin evaluating the commercialization potential of technologies from Korea.  The initial contract covers two technologies, one in the social media space and the other in green power generation.

Rare Innovation has been contracted to conduct market research and develop a commercialization plan for a new Multiplex Sensor for detecting complex VOC’s. Based on new nanotechnology advances in semiconductors, this novel technology has the potential to revolutionize gas sensing and has application in military and industrial markets where volatile gases pose a human health risk.

In an informal poll, commercialization experts agree that understanding your market opportunity is the single most important criteria for successful new ventures.  http://polls.linkedin.com/poll-results/50819/mrtbl

Yet, on occasion, I still meet many excited idea people who believe so firmly in their idea, that they block out everything to pursue the costly patenting, product development and more, only to end up broke and drowning in inventory of a gadget that has no buyers.

I do advise protecting your IP, I do advise spending wisely on R&D but there is nothing to prevent you from doing the basic components of a business plan and market research prior to spending a single dime.  You can uncover need in the market without divulging your IP and you will certainly learn key insights from your potential customers that can drive the product design so it is even better than you originally imagined.  Do your market research first and everything else will work better and you will save money and time.

Along with my wife who owns inc MARKETING LLC, we covered the very basics of “innovation” for readers in South Florida. The ideas are basic but often overlooked when organizations talk of innovation.  We are finding that many of our clients talk about innovating but in reality are not open to change, the basic ingredient for innovation.  Take a moment to visit the article at SRQ Magazine.

Well written article, though I believe many of us have come to this conclusion some time ago – true innovation rarely occurs.

http://blogs.harvardbusiness.org/haque/2009/05/unnovation.html

 Why is it that so many people are anxious to get the opinion of others – even pay consultants for it – only to flatly ignore the advice? Sure, it may not always be right but if you want to innovate, you must listen to differing opinions or even strange ones and open your mind to the possibility that they are correct.

There is a particularly fun show I catch now and then called “On Surfari” where a young couple travels the world surfing. One particular episode they surf great breaks in India on what is one of the saddest and most polluted beaches I’ve ever seen. The town council is excited to hear why these Americans chose to visit and surf – something rarely seen in this area. They invite the local news people, cameras and hosts to tell them how they can attract more tourists and more revenues as a result. The couple tells them to start with cleaning the beaches, providing infrastructure like waste management, educating locals on pollution and sanitary behaviors and giving locals other services to keep the beach free of abuse while providing jobs for the poor. Well, the council members were clearly not happy with this basic advice. They wanted to hear about advertising and spreading the word outside the country and more. They didn’t get that without a clean, safe, sanitary beach, they would never get the draw needed. 

Why was this advice so poorly received? Is someone telling you something you need to hear but you just aren’t accepting?