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Industry Sector: Technology Transfer / Research & Development for 11 University Consortium
Technologies
Focus:
Customer Segments:
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Tech Transfer Opportunities
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HubTec of Santiago, Chile is a thriving technology hub, representing 11 universities' research and development capabilities.
Context
The challenge was to expand business relationships and enhance the HubTec brand; find new sources of revenue, and optimize the business cycle from awareness and engagement to signed contracts and revenue generation. The business development team was comprised of Ph.D. researchers from the biological and social sciences - each with less than 5 years of tech transfer experience. (Disclosure: I was introduced to HubTec by John A. Fraser, former President of the Association of University Technology Managers).
Process
The process involved a series of coaching sessions for the team to learn about practical business skills and customer discovery interviewing - for each member to speak to industry stakeholders and partners, learn about their business and position HubTec to respond to their needs. Processes were established to streamline communications, share knowledge and set expectations. A new pricing model was aligned to meet industry procurement and budgeting. The business development team learned about how to position HubTec's R&D capabilities to the Customers' Journey.
Results
Context
The challenge was to expand business relationships and enhance the HubTec brand; find new sources of revenue, and optimize the business cycle from awareness and engagement to signed contracts and revenue generation. The business development team was comprised of Ph.D. researchers from the biological and social sciences - each with less than 5 years of tech transfer experience. (Disclosure: I was introduced to HubTec by John A. Fraser, former President of the Association of University Technology Managers).
Process
The process involved a series of coaching sessions for the team to learn about practical business skills and customer discovery interviewing - for each member to speak to industry stakeholders and partners, learn about their business and position HubTec to respond to their needs. Processes were established to streamline communications, share knowledge and set expectations. A new pricing model was aligned to meet industry procurement and budgeting. The business development team learned about how to position HubTec's R&D capabilities to the Customers' Journey.
Results
- Within 3 months, HubTec's business development team achieved greater clarity about how to position the organization to industry customers.
- Quickly identified and qualified "ideal customers" and implemented targeted marketing and sales outreach.
- Pivoted to a new pricing model for packages and services.
- Developed a model for internal referrals.
- Increased predictability through forecasting and upselling opportunities.
- Bus dev team poised and confident to nurture and capture new business.
- Quarterly revenue jumped by 25% and the organization is on track to 2x revenues from the previous year.
Benefits / Outcomes
- Sustainable revenues and profitable business model
- Scientists / Engineers' effectiveness and proficiency with leadership and communication skills
- Faster IP / technology commercialization, licensing and business partnerships
- Faster and predictable revenue generation