Stage Gate Framework
To help initiate and manage commercialization projects, the Turner Center uses a stage gate framework. This allows the respective project teams to evaluate technical development, customer and market adoption, and business model development at each stage. This is essential for moving the concept to the marketplace. It also offers companies multiple ways to collaborate with Bradley University.
Attributes of Stage Gate Model
- Technology commercialization projects are initiated and managed via the respective stages.
- Three criteria are collectively used to evaluate the project at each stage:
- Technology and Product Platforms: Identify, develop, and test new product/process applications that provide technical solutions.
- Customers & Markets: Target unmet customer needs & wants to plan market adoption and marketing strategy.
- Business Model: Evaluate and create an optimal model for making, selling, managing, and financing the new product/process.
- Each criterion is integrated with the other two (e.g., understanding customer needs & wants helps develop product features and as well as the business model). Projects must meet all three criteria metrics at each stage to move forward.
- Unique criteria metrics are developed for each stage and are used to evaluate if and how the project moves forward. This decision making is conducted in a “go/no go” gate process.