There have been several requests sent to the BioTactics Site via email requesting a basic step by step explanation of how to begin to market a new technology and/or find a financial partner.  If you have a technology transfer office at your company or academic institution, you've got an excellent resource to help you market your technology to a potential partner/licensee.  If your company or academic institution decides that they are not interested in the technology, or you develop the technology on your own, here are a few basic steps to marketing your technology. 

Step 1: Develop a strategy:

1. Know what you have.

• Many new startup's run on a shoe string budget and thus will prioritize their investment in technical advancement of their technology, rather than in market research.  If you want to get the value back from your technology investment you MUST invest in having a good understanding of what you have and how it compares to what is available on the market.
• Develop a "profile" of what you have to offer from an intellectual property standpoint. What EXACTLY do you own?  A significant portion of your strategy for finding a partner/marketing your technology depends on the "state" of the technology.  Here are a few related questions you should be able to answer:

1. How advanced is the development of the technology? Early stage technology will be worth much less than technology at a later stage.
2. Where have the patents been filed?
3. Have the patents been issued, and if so, in which countries?  Many companies will not consider licensing a technology before a patent is issued.
4. What information do you have on the value of the technology to your audience? How strong is your patent position? What other technologies does someone need to use your technology?
5. What are your long term outcomes?

Even if you don't think these questions are important, your future partner will.