Bradley University

Bradley Technology Commercialization Center

Technology Commercialization

 

What is Technology Commercialization?

Commercialization is the process of introducing a new product into the market.

The Commercialization process has three key aspects:

  1. The funnel. It is essential to look at many ideas to get one or two products or business that can be sustained long-term
  2. It is a stage-wise process and each stage has its own key goals and milestones
  3. It is vital to involve key stakeholders early, including customers

 

The Center's Role in the Technology Commercialization Process at the University

Bradley Technology Commercialization Center (BTCC) provides assistance to clients during all phases of technology development including research, company formation, commercialization strategy formulation, and product launch.

 

Technology Development Stage

BTCC interacts with clients who are engaged in groundbreaking research and focused on technology advancement rather than commercialization. To ensure the research objectives are met and untapped commercial potential is not lost, BTCC provides researchers with links throughout Bradley and Illinois to help stimulate collaboration and create additional market development for their technology. BTCC educates researchers on business development concepts, market research fundamentals and helps evaluate commercial applications of the technology.

 

Company Formation Stage

BTCC works with innovators who have filed invention disclosures with Bradley's Technology Transfer Program (TTP) and filed patent applications through TTP, but have not yet formed a company. BTCC provides these researchers and future company principals with assistance in new company creation, start-up business strategies and the development of both business models and business plans. BTCC also spends considerable time enhancing an innovator's ability to secure grant funding or seed and early stage financing.

 

Company Growth Stage

BTCC helps established startup companies grow in Illinois. Through the BTCC, the companies gain access to Bradley research, faculty and students and specialized workspace including wet laboratories, links to the statewide innovation network, and introductions to funding sources.