A Systems View Across Time and Space
Table 1 Pain points and recommendations that are incorporated to develop the Augmented Stage-Gate framework
Pain points | Recommendations |
|---|---|
Uncleared business requirement and do not have yet-to-be-developed commercial applications | Encourage startups to set up the market hypothesis and then test, measure, and learn with the target users with a faster, more iterative, and inexpensive process |
Lack of entrepreneurship knowledge and skill, and no time to commit to a new full-time business venture | Provide a flexible and systematic entrepreneurial development program and innovation clinic along the way to help increase skills, confidence, and entrepreneurship mindset to be ready before setting a new venture |
Lack of business network | Connect to the network of mentors and alumni who have business backgrounds in the same domain |
Require large amount of financing | Encourage the startups to have an awareness, strategy and be active in fundraising activities since the beginning |
Research-to-commercialization journey is unclear so sometimes the project team loses confidence and morale | Provide the network of process management specialists and mentors to guide along the whole journey Apply the concept of Agile development process |
Need strong help on IP, legal and regulatory related issues as they are important for the business strategy and might be a roadblock | Provide legal experts to assist |
The technology and research are complex and hard to be assessed and understood by out-of-domain stakeholders | Encourage the startups to quickly develop and demonstrate the user-facing prototype, which can be nonfunctional at the beginning, with the goals of measuring customer satisfaction or purchase intent Provide assessment tools for the startups and committees to evaluate and communicate the development progress in terms of technology and business |
Require lengthy time-to-market | Encourage the startups to apply the concept of Adaptive and Flexible and Agile development and also find the quick win strategy in order to split tasks and possible to set up the goal for both short term and long term |