1st Edition

Commercialization Secrets for Scientists and Engineers

By Michael Szycher Copyright 2017
    558 Pages 93 B/W Illustrations
    by CRC Press

    558 Pages
    by CRC Press

    Commercializing a knowledge-based product or service requires a realistic, methodical approach combined with a great deal of perseverance. Commercialization Secrets for Scientists and Engineers serves as a high-level guide to answering key questions and critical issues that confront founding entrepreneurs on their quest to commercialize their knowledge-based innovations. It highlights the unique problems shared by all technologists across knowledge-intensive fields and how to overcome the most predictable obstacles faced by technology entrepreneurs. It demystifies the process of commercializing advanced products that require a high degree of specialized knowledge. Typically, these are "disruptive technologies" with the potential to revolutionize whole industries. The book simplifies the launch of high-tech ventures such as pharmaceuticals, genetic and biotechnology products, wireless devices, fuel cells, and minimally invasive medical devices. Additionally, it will help readers bring their disruptive technologies to profitability.

    Part I Development on a Shoestring

    • Risk is a Four Letter Word
    • The Innovation Imperative
    • Development on a Shoestring
    • Funding a Knowledge-Intensive Product
    • Government Grants for Small Businesses SBIR and STTR
    • Proof of Principle Strategies
    • Overcoming Regulatory Hurdles
    • Market Research on a Shoestring
    • Competitive Intelligence
    • Establishing your Technical Team
    • Managing Managers
    • Strategic Planning for Startups
    • How to Think like an Executive

    Part II Classical Initial Decisions

    • Partnership or Proprietorship
    • Pros and Cons of Virtual Organizations
    • Strategic Alliance or Go it Alone?
    • Make vs Buy decisions
    • Core Competencies
    • Patenting vs Trade Secrets
    • Technical vs Customer Focus
    • Strategic Pricing Strategies
    • Initial Funding: FFFs, Angels or Venture Capital
    • Legal Considerations
    • Is there a Business Incubator in your future?
    • The Cavalry to the Rescue: The Bayh-Dole Act
    • What is your company worth?
    • Licensing and Tech Transfers basics
    • CRO Agreements: Can you handle the truth?

    Part III Product Launch

    • Product Lifestyle
    • Funding a Knowledge-Intensive Product
    • Proof of Principle Strategies
    • Overcoming Regulatory Hurdles
    • Lethal Launch Mistakes
    • National or International Rollout?
    • Underpromise and Overdeliver
    • Pricing Strategies
    • Realistic Sales Budgets
    • How much Inventory to
    • Commercializing Pharmaceutical Products
    • Commercializing Medical Devices
    • Commercializing High-Tech Products
    • Supply Chain Distribution
    • Fulfillment and Distribution

    Part IV Pathways to Profitability

    • Practical Methodology for Product Commercialization
    • Avoiding Land Mines
    • Product Introduction: Lean Principles


    • Ready-to-use Legal Forms
    • Glossary


    Dr. Szycher conceptualized, financed, took public, and successfully ran four public companies over the last 40 years. He is a serial entrepreneur who created substantial value for his shareholders over his career. As Chairman and/or CEO of these companies, he was responsible for initial public offerings, acquisitions, product introductions, and spin-outs. Dr. Szycher first earned his B.S. in Chemical Engineering, followed by a Ph.D. in Cardiac Physiology from Boston University School of Medicine. To further strengthen his capabilities as an entrepreneur and business executive he pursued an MBA from Suffolk University, and supplemented it all with a strong part-time study in business law at Massachusetts School of Law.

    "This is an outstanding, complete, well-written and unique reference that provides for the full understanding of the ‘business of Science.’ From development to business and from Innovation to marketing, most every area of commercialization is covered in ‘story-like fashion with examples and references.’ Whether you are a scientist, engineer or businessperson, student or expert, this book will serve as a source of learning and reference."
    —Edward Weiner, Director, Pharmaceutical Industry, Boston, Massachusetts, USA

    "Good high level description of the innovation process affecting entrepreneurs, firms, and industries. It is easy to read and should be relevant to most academics looking to commercialize their intellectual property who might not have entrepreneurial and commercial experience."
    —Stefano Ciampolini, Imperial College London, United Kingdom