Announcing a special new program from the UW-Madison Technology Business Development Institute to help you determine if your technology, invention or research has the potential for commercialization in today's marketplace.
Whether you're an inventor in a lab, a researcher at an institution, a product team developing a new idea, or an entrepreneur in your basement, developing clear and compelling answers to these questions is what transforms a good idea into an idea with great potential for commercialization. And, it's the ideas with great potential that get business backers saying, "YES."
If you're like most of us, you have at some point experienced 'The Polite Nod" -that nod people give when they don't understand what you're talking about and they don't want to admit it. To avoid looking foolish or getting into a conversation "over their heads," they will simply nod politely. This often misleads you to believe people are engaged with you in conversation, but that is not the case.
In the world of scientific discoveries and technical innovations, many inventors and researchers experience "The Polite Nod" all too often. Inventors are often so passionate about their discovery, idea, or invention that they want to talk in detail about the techincal aspects of the innovation. But for most people who are not working in the inventor's field, including potential investors and partners, there is a huge disconnect because they do not understand the technical language. What they want to know is how will this innovation solve a problem that they understand.
The challenge for an inventor, researcher or technology entrepreneur is how to get an audience to engage with you in conversation. The sign of an interested, engaged audience is this: they are asking you questions and even debating certain points you raise. If you want to turn your idea into a commercial opportunity, you need that kind of interest. This will only happen if you speak the right language and tell a story of opportunity, not technical descriptions.
While you may typically jump into an enthusiastic discussion of the idea, how it's built, and the detailed description of how it works, that's not what investors and other business backers want to hear. Instead, they are looking for specific answers about the business value proposition for your idea. This is a different language than most inventors and tech entrepreneurs speak. It’s called “the language of business.” Working through this course will teach you to use this language and will show you how to answer the key questions that all types of investors want addressed.
Guest speakers including: a WARF representative on intellectual property and licensing, a successful UW-Madison faculty entrepreneur and an SBIR grant expert.
The fee includes a text worth $70 plus additional materials!
Space is limited so register now!
This program is partially funded with a grant from the Kauffman Foundation.
Jack Reiners is Business Counselor at the Small Business Development Center at the University of Wisconsin-Madison, helping small businesses understand how to solve specific business problems and capitalize on business opportunities. At the SBDC, he taught "Developing Your Business Plan" five times a year to budding entrepreneurs and to owners/managers trying to move their business beyond the start-up phase into the growth phase. He teaches “Business Planning for Scientists and Engineers” for the Technology Business Development Institute. He conducts in-house programs for business, organizations and non-profits on planning, finance and organizational structure. Jack was instrumental in the development and implementation of the nationally acclaimed Masters of Science in Biotechnology program at The University of Wisconsin-Madison.
Jack holds an MBA in finance from Northwestern University, a bachelor's degree in economics from Knox College and is a graduate of The Graduate School of Banking at The University of Wisconsin-Madison. He utilizes his more than 45 years of experience in management, sales and finance as a management consultant to small business and is a frequent speaker at business conferences, seminars and conventions.
Jack P. Reiners, Director of Counseling, Technology Business Development Institute, UW-Madison, 608-265-3051, email: jreiners@wisc.edu
Location
Grainger Hall, UW-Madison
Schedule
6:00 - 8:30 pm
Section 9900: Wednesdays, October 1, 8, 15, 22, 2008
Fees: $195 for the complete program and materials
Reduced fee of $100 for UW graduate students (limited availability)