- August 20, 2018
- Posted by: admin
- Category: Blogs
How can higher academic Institutes aim for commercializing their tech products in foreign markets
One of the quintessential characteristics of start-up organizations is their persistent cash crunch and academic startups are no different. Amongst the latter ones, those that are in the incubator stage, are even more handcuffed since they have lesser flexibility in directing their working capital towards product or process development when their masters or Institutional mentors would advise them to invest the same in marketing or elsewhere. Then how could such startups even dream of planning an export-oriented strategy for their innovative tech products that involves identifying and then entering suitable foreign markets without being caught on the wrong side of the importing country’s IPR regulatory regime?
Patent protection that is country agnostic
In order to overcome this principal challenge for entering new markets for innovative tech products, the first step, of course, is to have a suitable IP protection for your technology which must be jurisdiction agnostic, which means the protection is based on the harmonized principles of IP Rights that have now come to be accepted internationally.
This author has particularly identified a set of stipulations from the Indian Patent Act that are not only in line with the harmonized principles of International Patent law, these stipulations enable any technologist, entrepreneur or person with a constructive scientific temper to protect and secure the tangible manifestations of low cost, low tech. inventions, the same if followed with a few simple design techniques can even get them protection for frugal innovations as well. The same is found at the link
Barrier-free entry of tech. Products into markets of your choice
The second step is to identify appropriate vendors that have a demonstrated success record of selling tech products of that category on sheer cost arbitrage basis in markets where such products are easier to commercialize. This is perhaps the most difficult part of the value chain process. You may have to go enroot your home country vendors or take direct resource to select foreign agents abroad. One has to be beware at this stage of falling a prey to counterfeiters and piracy mafias that run a parallel grey market of about any category of products. But before that, a startup has to identify the countries where they would want to export their product. The International HS Code for classification of goods comes handy for this purpose. The suitability of a country for exporting your specific product can be assessed with the help of tools such as the Revealed Comparative Advantage (RCA) and the Export Specialization Index.
The desired Product specification that sells as well
The third step depends on the type of innovation that has been effected to bring in the desired product characteristics. In the event, the technology is a trimmed down version of an IP protected product (frugal innovation), the claim to the De novo features thereof should be based on an objective analysis of the closest prior art. The features thus reached should be based on a conjointly evaluated representation of the aspirations of the identified market segment in each of the potential foreign markets.