This case is the first part of a two-part series on Innova Technology. Case A is set in May 2012, when Rick Tan, CEO of Innova Technology, a technology start-up company based in Singapore, is deciding a go-to-market strategy for PROTAG, a new anti-loss device. Through Bluetooth technology, this credit-card sized device could be attached to valuable personal belongings and synced to a mobile phone, alerting the owner of its loss or theft. With just one chance to get it right, Tan had to decide on the most appropriate go-to-market strategy for the first 5,000 pieces of PROTAG: Which market segment(s) should he focus on? Should he use multiple sales channels or stick to just one? Which was the most appropriate channel for his product? What price should he charge? Case B is set in November 2012, two months after the launch of PROTAG, a new anti-loss device. After a highly successful product launch which targeted customers in the travel segment, CEO Rick Tan is contemplating his company’s growth strategy. Despite the high commissions charged by distributors, Tan decides to use this channel to market his product.
Yet Tan once again finds himself at a crossroad. What should his company’s next steps be? Should there be a next generation PROTAG? Does his company have the capacity, capabilities and skill set to take their product beyond Singapore and Asia? How else can he grow his business? This case series is about developing, producing and marketing a product innovation. It is particularly suited for understanding challenges faced by young start-ups who have the onerous task of building a name, reputation and a market. A good product does not sell itself, and this case discusses some of the key ingredients required to make a start-up successful and scale.
Commercialising New Technology
The challenges faced by Innova Technology may be regarded as a textbook example of the difficulties faced by deep technology developers. While possessed of the knowledge and skills required in the laboratory, these developers are not always endowed with those necessary for success in the marketplace.
To come to the aid of those who desire an active role in bringing these technological advancements to market, Singapore Management University (SMU) has teamed up with the Singapore-Massachusetts Institute of Technology (MIT) Alliance for Research and Technology (SMART). Together, they offer the Advanced Certificate in Technopreneurship or ACT at SMU.
ACT integrates coursework with real-world deep technology projects to develop a pool of entrepreneurial leaders and market savvy professionals equipped for commercialising deep technology projects. Programme participants will acquire skills for preparing and implementing a viable and sustainable business plan for success in a start-up environment. Successful technology spin-offs have already been launched under the auspices of SMART. Find case studies, programme particulars and application details for ACT.
Originally published by the SMU Centre for Management Practice, 11 Apr 2014 by Arcot Desai Narasimhalu, Sarita Mathur, Adina Wong. Access the case in full here.
