Newsletter – Commercialization Investment Category (Vol. 1, No. 6)

The World Class R&D InstituteCommercialization (Investment Category+)

We continue our discussions of Investment Categories with a description of Commercialization. Commercialization refers to all the activities required to take an R&D prototype+ and to finish it so it can be commercially marketed. This includes Industrial Design+ of the product and readying it for manufacturing. This includes preparation of the marketplace for the product's launch. In some industries it includes gaining regulatory approval for the product (e.g., the pharmaceutical industry and its mandated pivotal clinical trials). Commercialization is often the area having the greatest one-time spend, and the highest risk for product failure.

September 2010 Home Page

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This month’s home page topic, commercialization, is quite complex and difficult to summarize. It encapsulates the other three investment categories: pre-game+, mid-game+ and end-game+. We must know which prototypes to pursue, how to measure interim progress, and how to stop. Read this month’s home page articles carefully and you’ll gain a much greater appreciation for the overall approach to World Class R&D.

In the pharmaceutical industry, commercialization includes the pharmaceutical sciences, commercial operations+, and regulatory / pivotal clinical studies. This is an immense field of work with many decades of built up conventions and practices than need to be deconstructed. The World Class R&D approach to this work will seem quite unusual viewed through the lens of today’s practices. But it’s an answer that gets you effectiveness, i.e., more blockbuster+ products out the door.

The most successful analogy for this topic is that of parenting. As a parent you want your child (prototype) to be admitted to Harvard Medical School. You think you know what it takes to make them happy. It worked for you. But once that child is out of your immediate control anything can happen. Push too hard and he or she may end up in rehab. Harvard Medical School doesn’t have to be the only path to a happy future for your child.

With each new R&D prototype we’re dealing with someone’s child, with unique promises and challenges. There is not a cookie cutter approach. And you won’t find greater emotional attachment than during these decisions. We’ve designed commercialization so we all become parents to this beautiful baby and revel in its future career choice.

There are dozens of new glossary terms in this month’s website. Don’t let them get in the way; just read past them with commonplace meanings. You only need an in-depth understanding of the terms during implementation. Also, I have been told that several readers are getting confused on the home page. Here is a one-page navigation guide for each month's home page.

Welcome back from a great summer (those in the Northern Hemisphere). Thanks for all the support we’ve received so far on pushing forward with the World Class R&D Institute.

Keith Ortiz

President and CEO
The World Class R&D Institute, A Non-Profit Institution
609-954-8319 (c)

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