Murray Slides

Technology Strategy for Start-Ups Professor Fiona Murray Sloan School of Management E52-551 fmurray@mit.edu

Technologies Markets How will we create value? Can we capture this value despite competition? Do we have the organizational capabilities necessary to deliver it? Foundations of Technology Strategy

Do all scientific ideas have economic potential? Potential Economic Value of idea Value of Scientific idea ,[object Object],-Can’t Implement -Cost / Processes -Social Constraints -No “Market” X X X X X X

Is it the case that great ideas = pots of money? Economic value captured by the startup Economic value potential created Betamax VHS Philips Xerox Parc ,[object Object],[object Object],[object Object],& Investors ,[object Object],X EMI- CT Scanner GE-CT Scanner X X Microsoft

Two main areas of technology strategy ,[object Object],[object Object],[object Object],[object Object]

What is a business model? ,[object Object],[object Object],[object Object]

The Business Model Mediates Between the Technical and Economic Domains ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Technical Inputs: e.g. feasibility, performance Economic Outputs: e.g. value, price, profit Measured in technical domain Measured in social domain

Value Creation ,[object Object],[object Object],[object Object],Technology Product/ solution Market

Many technologies can be used in different ways …. ,[object Object],[object Object],[object Object],[object Object],Technology e.g. e-Ink Product/solution Product/solution Product/solution e.g. Signage e.g. eNews e.g. eBooks

Value Capture ,[object Object],[object Object],What protective layer can we wrap around our technology, product & customers? Technology Product/ solution Market

Four key ideas for start-ups: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Many ways to deliver value to customers … ,[object Object],[object Object],[object Object],Technology e.g. combo-chem Product Service Drug discovery e.g. Library h’ware & s’ware e.g. Library service e.g. Pharmaco firm

Evolution of your technology strategy: example of Millennium Build Revenue: Apply technology to different problems thru service contracts and maintain IPR Build Assets: Use alliances to develop key assets & new technologies Firm founding: Based on narrowly defined gene technology Forward Integrate: Move down the value chain internally & thru acquisitions

Key Questions that MUST be addressed ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Murray Slides

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