SBIR Phase 2 Commercialization Plan

NSF SBIR Phase 2 Commercialization Plan Example

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Follow this NSF SBIR Phase II Commercialization Plan example that I successfully used to secure $750k in SBIR funding and you will be able to address all key sections requested by NSF. Understand exactly what level depth and detail is required.

The Commercialization Plan is a critical section of the proposal. It is the primary opportunity to describe the strategy that the proposing small business will employ to generate revenue from the proposed innovation research. The Commercialization Plan is the company’s roadmap and should convey how the company will generate profits from its innovation. It should represent a compelling vision of a unique business opportunity that could be addressed with continued support from Phase II funding. The depth and quality of the analysis within the Commercialization Plan is a critical element of the NSF SBIR proposal review. Assumptions within the plan should be clearly stated, and evidence of validation should be provided.

This 14-page example includes the following Phase II Commercialization Plan sections:
1) Market Opportunity
2) Company/Team
3) Product/Technology and Competition
4) Finance and Revenue Model

This is the Commercialization Plan approach I have used to successfully win multiple Phase II awards.

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Description

What is the Commercialization Plan?

 The Commercialization Plan cannot exceed 15 pages, EXCLUDING letters of support (up to 5 letters may be included). The Commercialization Plan is a critical section of the proposal. It is the primary opportunity to describe the strategy that the proposing small business will employ to generate revenue from the proposed innovation research. The Commercialization Plan is the company’s roadmap and should convey how the company will generate profits from its innovation. It should represent a compelling vision of a unique business opportunity that could be addressed with continued support from Phase II funding. The depth and quality of the analysis within the Commercialization Plan is a critical element of the NSF SBIR proposal review. Assumptions within the plan should be clearly stated, and evidence of validation should be provided.

The plan must concisely convey:

  • The business opportunity enabled by the innovation
  • The compelling value proposition(s) for the intended customer(s)
  • The key points of a plan appropriate for the company’s stage of development
  • The status of the effort to date and map out a strategy for the enterprise moving forward
  • The current as well as the anticipated commercial landscape and the resources required to address the opportunity enabled by the innovation
  • The company’s vision for the enterprise and how the proposed innovation fits into the future market

The National Science Foundation recognizes that each innovation requires a specific strategy to generate strong outcomes and that no two businesses are exactly alike. Therefore, NSF supports a broad array of commercialization strategies. Each strategy requires a different emphasis on the plan’s elements, depending on the specifics of the innovation and the market landscape. For instance, the strategy and mechanisms for leveraging and protecting intellectual property (IP) vary according to industry and innovation.

What goes into an NSF SBIR Commercialization Plan?

NSF asks for the following four main topics to be addressed:

  1. Market Opportunity
    • Describe the target customer, with generally known examples if possible.
    • Describe which customer needs will be addressed with the product or service.
    • How does the target customer currently meet the need; or does a significant unaddressed problem exist?
    • Describe succinctly the product or service to be delivered based on the innovation.
    • What is the business model the company envisions to generate revenue from the innovation?
    • Is the target market domestic, international or both?
    • Describe the communications and distribution channels the company will employ to reach the targeted customer.
    • What is the current size of the broad market the company plans to enter and the “niche” market opportunity it is addressing in the short term?
    • What are the growth trends for both the market and the industry that the company is targeting?
    • What are the barriers to enter this market?
    • Describe the technology/development objectives and critical milestones that must be met to address the market opportunity.
  2. Company/Team
    • Provide a short description of the origins of the company.
    • What type of corporate structure is in place?
    • What is the current capitalization?
    • What is the current employee count?
    • What is the company’s financing and revenue history for the past three years?
    • What are the sources of operating capital or revenue: product sales, consulting/services, license revenues, R&D grants/contracts and others?
    • Give a brief description of the experience and credentials of the personnel responsible for taking the innovation to market.
    • What specific experience does the team lack and how will this be addressed during the Phase II effort and beyond?
    • How does the background and experience of the team enhance the credibility of the Commercialization Plan; have they previously taken similar products/services to market?
    • From which additional resources will the company draw support or guidance (e.g., Board of Directors, Board of Advisors, technical advisors, legal counsel)? Provide details on the names, affiliations and expertise of these resources.
  3. Product/Technology and Competition
    • Which features of the technology enable a compelling value proposition? How has the company validated the significance of these features?
    • What is the customer willing to pay for the product or service? How has the company validated this assumption?
    • What are the costs to produce the product or service? What are the assumptions that underlie the cost model(s)?
    • How does the technology/innovation allow the team to compete and win in the marketplace?
    • How does the product or service compare to that of the competition?
    • Describe the anticipated competitive landscape when the company reaches product launch.
    • Describe the intellectual property landscape.
    • Do you have “freedom to operate?
    • How does the company plan to protect the intellectual property associated with the technology and/or company?
    • Which other sources of intellectual property does the company need to address the market opportunity?
  4. Finance and Revenue Model
    • Describe an appropriate staged finance plan given the market opportunity; enumerate the level of funding required for each stage along the path to commercialization.
    • How will the company access the appropriate funds? Provide specific contacts, leads, previous relationships and agreements already in place.
    • Which commitments does the company have for follow-on funding?
    • Describe the projected revenue streams (licensing, product sales or other) associated with the company’s commercialization plan. What is the expected timeline for first revenues and revenue ramp?
    • When does the company anticipate initial revenues from each projected stream?
    • When does the company expect to reach break-even operations?
    • Provide annual pro formas for the next five years (2 years of the Phase II effort + 3 years post Phase II). Income Statements are required. Cash Flow and Balance Sheets may be included if they are considered critical for your strategy. If not included, Cash Flow and Balance Sheets should be available upon request from NSF.
    • What are the assumptions in the company’s models? How has it validated these assumptions?

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