Praxis Ideation Challenge Workshop VI: Implementing prototypes

Developing a prototype or MVP is only the beginning, now you will have to sell it!  Getting innovations to target audiences involves strategy, significant investment, effective communication, robust networks, and some luck.  Having a solid proof-of-concept or MVP now requires an understanding of commercial strategies and business models.  What are your “value proposition” and your competitive advantage? Do you license your innovation, or do you build a company?  Will your company engage in manufacturing, distribution, or marketing? How will you fund your pathway? Are there alternative pathways?

This workshop will look at strategy development and business planning to identify potential approaches to funding a venture.

Learning Objectives:

• Articulate a range of business models
• Demonstrate an understanding of different pathways to implementation
• Describe different Exit strategies

Key Concepts

• Licensing, business models
• IP, R&D, and Regulatory Strategies
• Funding Approaches and Exits

To know more, visit https://ideation.mito.utoronto.ca/?activity=workshop-vi-prototype-validation