Financing early stage innovation ventures – a value-oriented roadmapping framework

This practice-oriented paper describes a value-oriented roadmapping (VRM) framework, which helps entrepreneurs improve the investor readiness of their ventures through developing better business models. As investors tend to perceive risks where entrepreneurs only have eyes for the opportunities, this value-oriented roadmapping framework is a practical tool to help bridge the gap between investors and entrepreneurs. From the daily practice of the lead author as an IP value strategist the lesson has been learned how important it is that entrepreneurs develop a business case from the perspective of potential investors. The value-oriented roadmapping framework is a practical tool for entrepreneurs and was developed through a series of 8 case studies. The tool is a template-based approach, or so-called ‘canvas method’. In a workshop setting, led by an experienced moderator, participants critically assess the venture’s and or product’s market, capabilities, application, revenue model, capital investment, IP-position, from an investor’s point of view. Next, this qualitative assessment is translated into a quantitative assessment, incorporating finance and valuation theory and methodology. The end result is a roadmap for value creation, where in the end both investors and entrepreneurs require a reward for financial risks taken

Characterizing product-service systems in the healthcare industry - An internal stakeholder perspective

This paper presents a preliminary productservice system (PSS) classification framework, which challenges the existing schemes that have not distinguished between service and intangible product. Two recently completed cases in the health information and communications technology (ICT) sector have revealed new dimensions for PSS classification from the perspective of internal stakeholders, that is those within the company who are directly involved in the new PSS development. These new dimensions are volume, value, and quality. Volume is the relative number of product / service elements in the PSS. Value is the relative product / service contribution to the worth of the PSS. Quality is the features, knowledge, skills and attitudes that affect the successful usage of the PSS. The findings also suggested that a PSS configuration might remain constant when the product and service proportions change. The results from these two cases have provided important directions for further work in PSS classification. KeywordsThis is the final version. It was first published by IEEE at http://ieeexplore.ieee.org/xpls/abs_all.jsp?arnumber=6838044

Value co-creation in early stage new product-service system development

This is the final version. It was first published by Linköping University Electronic Press at http://www.ep.liu.se/ecp_article/index.en.aspx?issue=067;article=030.The need to develop systems that comprise medical equipment and services to improve healthcare service efficiency and availability has become a pertinent concern in developed countries, as governments continue to focus on controlling healthcare expenditure. This research intends to explore value co-creation with multiple stakeholders at early stage new product-service system (PSS) development in regulated industries such as the medical equipment industry. This paper identifies the literature gap of stakeholder involvement in the process of new PSS development and compares the identified gap with the experience of industry practitioners. The fields relevant to the research focus are described and the characteristics of a new PSS are proposed as the basis of the research. This paper concludes with an initial proposition, that there is a need for an holistic approach to new PSS development and to have early multiple stakeholder input

Scenarios and roadmapping - how to navigate an uncertain future

Scenario planning and roadmapping are both well established processes for exploring possible futures. Roadmapping for technology foresight provides a framework for investigating technology developments, interrelationships and critical timescales. However it is increasingly important when new technologies and consumer adoption co-evolve that paradigm changes in the wider social and economic environment are taken into account. A strength of scenario planning is in exploring social and economic factors and hence scenarios can provide the futures context for a roadmapping exercise. Both processes are often used in group work modes over days or months, which allows for stakeholder consensus to develop. This paper describes how scenario planning and roadmapping were combined within a workshop to gather a wide range of external and internal inputs and to challenge organisational thinking. The paper discusses how the process was achieved in one day, the benefits of this arrangement and also its limitations and how to mitigate them

Value co-creation in early stage new product-service system development

Abstract The need to develop systems that comprise medical equipment and services to improve healthcare service efficiency and availability has become a pertinent concern in developed countries, as governments continue to focus on controlling healthcare expenditure. This research intends to explore value co-creation with multiple stakeholders at early stage new product-service system (PSS) development in regulated industries such as the medical equipment industry. This paper identifies the literature gap of stakeholder involvement in the process of new PSS development and compares the identified gap with the experience of industry practitioners. The fields relevant to the research focus are described and the characteristics of a new PSS are proposed as the basis of the research. This paper concludes with an initial proposition, that there is a need for an holistic approach to new PSS development and to have early multiple stakeholder input

ON 'SELF-FACILITATING' TEMPLATES FOR TECHNOLOGY AND INNOVATION STRATEGY WORKSHOPS

Aligning technology and other functional perspectives for innovation and strategy is challenging. This is compounded by communication barriers arising from high levels of complexity, uncertainty and ambiguity associated with technologically intensive innovation. Conceptual frameworks, tools and methods such as roadmapping, portfolio matrices and scenario planning are used to support the management of technology and innovation activities. These often have a strong visual aspect that helps to address the issues of dialogue exchange and interaction. From a visualisation perspective, roadmapping is of particular interest given its prominence as a flexible method and highly visual tool. This paper focuses on the mediating role that structured roadmapping templates have during interactive strategy workshops. A quasi-experiment comparing the performance of two templates is reported, comparing a ‘classic’ format with a new template that was designed to be ‘selffacilitating’. This new template incorporates guidance that a facilitator would normally provide, in order to minimise intervention and empower groups to organise their own strategic discussions. The new template is shown to perform significantly better in terms of completeness, consistency, quality and ease of use

Roadmapping Roadmapping: Strategic Planning for Roadmapping Systems

Roadmapping is a well-established technique in the context of innovation and strategy, with the potential to support organizations address the complex transformative challenges facing humanity in the 21st century. This is enabled by its systems-based architecture and visual form of roadmaps, supporting communication and reduction of information asymmetries in complex sociotechnical systems. This paper focuses on an adaptation of the roadmapping method to support strategic planning for roadmapping systems in organizations, addressing implementation challenges. This represents a novel application of roadmapping to business processes and systems, demonstrating the flexibility of the roadmapping approach. A workshop template ('R2') and process for supporting the roadmapping of roadmapping systems is presented, developed and refined through a series of six industrial cases, and illustrated with an application example in the additive manufacturing sector