A Systems View Across Time and Space
Table 5 Augmented Stage-Gate activities for ReadMe
Stage 0: innovation ideation | Stage 1: build business case | Stage 2: development | Stage 3: test and validation | Stage 4: launch | Stage 5: scale-up |
|---|---|---|---|---|---|
• ReadMe was deep-tech research in vision AI and the state-of-the-art Thai text reader • ReadMe had a research prototype proven well in the lab with a TRL of 4; yet IRL of 1 due to an early business model and not fit to market needs yet • It was a high-potential technology, and the idea was validated by key opinion leaders in the business domain, especially the digital transformation trend | • Build business case based on the ReadMe text reader • Interview with more than 20 corporates that are interested in digital transformation strategy including banking • One of the prospect applications was a personal loan approval’s credit scoring • Rapid prototype development for potential application to solve customer pain points were proposed and validated • Study the IP landscape to find freedom to operate • First draft of business model | • Rapid prototype development for working prototype based on AI algorithm used for statement reader based on customer sample and then validate the result with the prospect customer to see the problem–solution fit • Tests and validated learning using customer data and compare the result with the existing solution • Gauging customer reaction and purchase intent • Team recruitment • Refine business model • Apply for grants • IP draft | • Final version of the business model was developed and validated with early customers • Secure order from early customers in particular banks • UX/UI design and validated with early customers • Continue software development, including UX/UI and software application, to complete the first commercial version and ready to sell • Apply for translational research grants • Prepare for spin-off • Fund raising from friends and family • Study tech transfer process • File an IP | • Complete university tech transfer process and became a spin-off company • ReadMe product is targeted for document reader solutions especially related to digital transformation and then collect feedback in order to improve products • Lessons learned and recommendations used to adjust business models | • Always collecting and analyzing the feedback • Continue development for better versions of commercial products • Expand business into other fields especially accounting related documents • Accelerate target market penetration with full effort |
TRL = 4 | TRL = 4 | TRL = 5 | TRL = 7 | TRL = 9 | – |
IRL = 1 | IRL = 3 | IRL = 5 | IRL = 6 | IRL = 8 | – |