Published on October 26, 2007
DILIGENT™ Commercialisation with Confidence™ CONTENTS Key Principles Multistage Screening Delivery Models Other Benefits DILIGENT Cycle DILIGENT and the slogan Commercialisation With Confidence are trademarks of Digital Investor Pty Ltd. www.digitalinvestor.com.au ©2002 Digital Investor Pty Ltd Page 1 email@example.com
DILIGENT™ Key Principles Two key principles drive the DILIGENT model: 3. Early planning and analysis returns disproportionate benefits. The beginning is the most important part of the work (Plato). 4. Elite venture capitalists have deep technology, industry and market understanding. Most commercialisation efforts are tactical and do not commence full market, industry, distribution and sales planning until talks with “financiers” commence. www.digitalinvestor.com.au ©2002 Digital Investor Pty Ltd Page 2 firstname.lastname@example.org
Key Principle #1 Early Planning and Analysis Typically commercialisation efforts are tactical: 3. They focus on point issues – typically: patent law, technology, licensing, agreements, commercial structures and financing. 4. Attention is often focused on an end-point of financing with a fall-back to licensing – which is a natural way for “point advisors” in legal, patents, commercial and financing to channel the process. 5. Market, industry, channels and sales strategies are often not performed, or if at all performed without rigor and method and integration within a total process. Strategy without tactics is the slowest route to victory.Tactics without strategy is the noise before defeat. (Sun Tzu) www.digitalinvestor.com.au ©2002 Digital Investor Pty Ltd Page 3 email@example.com
Key Principle #2 Elite Investors Are Deep and Broad The most successful venture investors: 3. Have deep understanding of their chosen field of technology 4. Possess a vision of the industry and its dynamics 5. Can perceive the value proposition and help articulate it 6. Mentally assimilate channels, partners and global relationships 7. Understand the people and what drives them to succeed 8. Contribute to marketing, sales strategy, and sales itself 9. Seek strategic partners to bring finance and other most importantly complementary resources FINANCING is only ONE RESOURCE that they bring. www.digitalinvestor.com.au ©2002 Digital Investor Pty Ltd Page 4 firstname.lastname@example.org
DILIGENT Fully Integrates the Two Principles This creates and captures maximum value: 3. Market and industry analysis is integrated early 4. Channels and distribution analysis adds options for the potential leverage of value 5. Commercial analysis has as input a broad view of potential resourcing, financing alternatives, and structural alternatives 6. People, sales and marketing are considered after the big picture industry, channels and partnering analysis 7. DILIGENT Confidence Index provides regular feedback DILIGENT feeds fully analysed options into a Business Plan which will attract maximum interest from targeted 3rd parties and result in capturing maximum value for owners of research and IP. www.digitalinvestor.com.au ©2002 Digital Investor Pty Ltd Page 5 email@example.com
DILIGENT Multistage Screening CPA Multistage process: • Screening at each stage MVP • Accept / Reject / Return IDA X • Cumulative Confidence Index ADC • Major Tollgate after 4th Step OUT FCS Risk Management PMR Major Plan Tollgate Business SBP Plan TRP www.digitalinvestor.com.au ©2002 Digital Investor Pty Ltd Page 6 firstname.lastname@example.org
DILIGENT Delivery Models 200 pages of Methodology delivered: • As 12 workshops over 3 months for a real case • In part for 1 or 2-day overviews of the process • Through audit of existing cases, or • As an audit of existing methodologies. www.digitalinvestor.com.au ©2002 Digital Investor Pty Ltd Page 7 email@example.com
DILIGENT Other Benefits A consistent and holistic process which: 3. Focuses attention on capturing value for the owners - not just creating value 4. Provides high executive visibility into the process 5. Allows for consistent comparison and review between opportunities and across the portfolio of commercialisation 6. Scopes and directs the engagement of experts and consultants 7. Is continuously improved through the process model DILIGENT is a enabler of higher returns from commercialisation at a lower cost and with higher owner/executive visibility and confidence. www.digitalinvestor.com.au ©2002 Digital Investor Pty Ltd Page 8 firstname.lastname@example.org
DILIGENT Confidence Index A tool to enable and provoke discussion: • Discussion of different perceptions • Resolution of gaps and misunderstandings • Input is a number • Process is a discussion • Output is improved confidence and visibility A component of a Communications Plan, which in turn is a component of the Commercialisation Plan. www.digitalinvestor.com.au ©2002 Digital Investor Pty Ltd Page 9 email@example.com
DILIGENT Commercialisation Pipeline A weighted portfolio of opportunities: • Tools/matrices displaying the current set of projects to enable Executive decision-making. • Showing the potential of the total portfolio • Linked to the Confidence Index • Weighted throughout the process: – Risk v Reward – Customer impact v Type of technology – Resources v Time to launch (or pipeline stage) – Pipeline valuation (anticipated revenues) www.digitalinvestor.com.au ©2002 Digital Investor Pty Ltd Page 10 firstname.lastname@example.org
DILIGENT Pulse™ An interactive continuous survey: • Touches all stakeholders to monitor their confidence • Measures the process and the results of the process • A direct measure of confidence in: – The potential of the project – And the people executing the commercialisation. Typically involves a 60 second survey being completed by up to 20 people once each month www.digitalinvestor.com.au ©2002 Digital Investor Pty Ltd Page 11 email@example.com
DILIGENT Management Assessment Tool DILIGENT provides a framework for selection: • To assess Management Teams of funds e.g. pre-seed and incubator, on the basis of competencies required for each stage of DILIGENT • To use targeted questions for each stage to assess management skills and experience • To rank teams and candidates against the required process competencies www.digitalinvestor.com.au ©2002 Digital Investor Pty Ltd Page 12 firstname.lastname@example.org
DILIGENT Commercialisation Cycle Technology and Ideas ENTER Business Plan CPA Risk Management TRP Confidence Plan Index MVP EMERGES SPB Documentation PMR IDA FCS ADC Tollgates www.digitalinvestor.com.au ©2002 Digital Investor Pty Ltd Page 13 email@example.com
DILIGENT in Context Company Growth Phases Invention Commercialisation D I L I G E N T Business Pre Early Mid Late Venture Seed Seed Stage Stage Stage Development Business Expansion Growth Idea Generation > Develop Design Testing > Prototype > Start-up > Initial Sales > Market Acceptance > Repeat Sales www.digitalinvestor.com.au ©2002 Digital Investor Pty Ltd Page 14 firstname.lastname@example.org
DILIGENT Commercialisation with Confidence • Discover the quality of the IP (knowledge) • Involve the market and make the value proposition • Learn what drives the industry • Investigate alliances, channels and means of leverage • Gather funding and commercial alternatives • Extrapolate the people and management needs • Nuance the sales, pricing and branding models • Test and Resource the Plan DILIGENT™ - A methodology to help high-tech innovators and IP owners develop and manage a commercialisation program for greater returns. www.digitalinvestor.com.au ©2002 Digital Investor Pty Ltd Page 15 email@example.com
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