Great work! Now that you’ve invented a new technology and understand customer demand, how do you deliver the innovation in the most cost-effective way? In order to address the supply side of business, you’ll have to answer questions such as:
Are the components of the invention off-the-shelf or highly customized?
What kind of human resources are needed?
Do you need to acquire any licenses?
While the right side of the Business Model Canvas addressed the demand for a product and relationships with customers, the left side tackles supply, partnerships and cost structure.
The second cohort of OPTT’s Entrepreneurship and Commercialization begins on July 9 and will guide Fermilab innovators through converting their lab prototypes into something that can be manufactured on a production line.
In module 5, Business Model Canvas Part II, students will continue developing their new venture business models through the next four elements in the template: Key Partners, Key Activities, Key Resources, and Cost Structure. These sections have an interlocking relationship and will come together to form a complete puzzle.
Register for the eight-week course at: https://indico.fnal.gov/e/OPTTPracticum2020
Seats are limited.
Questions? Contact Laura Rogas, firstname.lastname@example.org.