5 Elements to Consider When Commercializing Your Ideas
In this article, we look at five tips to launch your next innovation, using a proven framework for successful launch and scale.
I have spent a lot of time working with university and industry researchers throughout my career, and the challenge of how to scale and commercialize ideas always comes up. It is not an easy process, especially when pitching your ideas for funding or recruiting other team members. I recently spoke at the sixth annual Nairobi Innovation Week at University of Nairobi to share my framework for successful commercialization. For the students and researchers in attendance—and for any innovator—this framework will help scale ideas.
But to start, you must first have traction. If you don’t have traction for your idea, you cannot scale. So, it is very important that the idea you have actually prompts someone to appreciate it, purchase it, or offer feedback on it. Assuming you have traction for your idea, you’ll need these five ingredients to successfully scale and commercialize your idea. If you get these things right, the possibility of your success will increase significantly. Read more.