What are the general steps for commercializing an invention?
The process of commercialization depends of the type of invention. For non-life science related inventions, the process may generally be broken down into three general stages: Exploration, Development, and Implementation. The Exploration stage develops the conceptual model and addresses issues such as identifying customer needs and early stage manufacturing issues. The Development stage consists of building a functional model and prototype. Lastly, the Implementation stage evolves the prototype to low-level production through to full production startup. Each stage requires a project team with a wide range of skills but generally include technical development, market development and business development.
