As you progress your technology readiness, you will probably start to consider when you should start working on your commercial readiness. When scaling the science and securing the investment to do so are front of mind, the decision to allocate resources to commercial activities isn’t a straightforward one - especially when the team is lean and each round of funding is allocated to R&D.

But, for many, waiting until you officially launch isn’t the right approach.  That’s because, whether your long term business goals rely on securing that one perfect licencing agreement or generating new customers every month, there will be conversion rates from the number of people aware of your technology to the ones who want to talk further to the ones who sign a contract or issue a purchase order.  Building this commercial funnel can take months and, sometimes, years.


The opportunity to build commercial readiness with no commercial budget

So, what if you could start this process months or years before launch - with minimal financial investment?  What if, by the time your technology was ready to sell, you already had a database of interested organisations who viewed you as a thought leader in your field? A database that reflected the conversion rates and allowed you to deploy your high value, technical experts to the right potential customers?  And what if you had this traction and knew your conversion rates before the next round of investment?

Over the last two years or so, a very real opportunity has been created for small enterprises and start-ups to build this presence in the market.  It is thanks to the extent to which potential business clients rely on online information to make major purchase decisions and the way in which the online search and social platforms are evolving; small enterprises can now punch well above their weight in the market.  However, there is no quick fix for this and it can take up to two years to realise the opportunity.


Commercial Readiness Workshop, September 12th 2019

IBioIC member organisations can learn how to build their presence in the market to achieve commercial readiness through a new workshop led by Alix Mackay MRSC and hosted by the Industrial Biotechnology Innovation Centre (register here).  The workshop is exclusive to IBioIC members and designed for companies that are up to 2-3 years from a commercial launch or in the first two years of revenue generation.  Places are limited to just 10 so we ask for a maximum of two people per membership company to register:

Commercial Readiness Workshop
9am Thursday September 12th
IBioIC offices, Inovo building, 121 George Street, Glasgow G1 1RD

The workshop assumes you have a lean team, limited budget for commercial activities and a big ambition for your organisation.  You’ll leave with focus and practical guidance for how you can begin to grasp the opportunities available to you.  You’ll see the latest evidence, best practice and case examples that demonstrate:

  • The role of the online platforms in a pre-launch commercialisation plan
  • The role of building a commercial funnel early for securing future investment and generating early revenue
  • How to increase your search engine rankings organically without paid advertising
  • The role of the social media platforms in building your commercial funnel
  • How to capture interest to help build your database of potential customers and partners
  • How you can make the most of your existing activities and resources to achieve this

If you are interested in attending this workshop, contact our Business Development Manager in the first instance.

Specialising in biotechnology and life sciences, Alix Mackay MRSC creates commercial strategies for start-ups and small enterprises.   She combines her commercial leadership experience in the biopharmaceutical industry with the latest best practice in online marketing to show leaders in industry and academia how to prepare for commercial launch and build their presence in the market in a way that aligns to their customers and maximises their resources.  Based in Glasgow, Alix is a professional member of The Royal Society of Chemistry, a member of IBioIC and co-leads the Marketing & Communications for Life Sciences Scotland.