The document discusses business modeling as a 3 step process: 1. Mobilize - The first step aims to create awareness and mobilize relevant people to set the scope and assemble a team for the technology transfer work. 2. Design - The second step involves researching, generating, and testing viable business model options and selecting one to pursue. 3. Manage - The third step implements the prototype business model in the field and adapts it in response to market evolutions, which involves daily executive work and strategic/IP management concerns.

1. Business Modeling
FITT
– Fostering Interregional Exchange in ICT Technology Transfer –
www.FITT-for-Innovation.eu
Except where otherwise noted, this work is licensed under a Creative Commons Attribution 3.0 License.

2. Business Modeling
 Business Modeling stands as a process to design a sustainable business model.
This process is in essence a way to promote a business culture in a research context
and a set of tools to facilitate the design of a business model.
 We describe best the business modeling effort in a 3 step process:
 A business model (BM), the outcome of this process, is a representation of how an
organization makes money, or intends to. It is sustainable when each of its
stakeholders is willing to further the business relationship it entails.
Based on: http://www.businessmodelalchemist.com/2008/07/what-is-business-model-2.html
2 | April 2011 Business Modeling

3. Mobilize
 The first step to business modeling is aims at creating awareness around the starting Technology
Transfer effort, in order to mobilize the most relevant people.
 It typically
 sets the scope of the technology transfer work, and
 assembles the best team to make the right business choices
 the sole TTO team @ Imperial College (see practice “Business model decision”)
 An ad-hoc team of market and innovation experts @ Tudor (see “Business model design”)
 This steps is lightly addressed in the practice “business model design”, that proposes
a structuring framework. Awareness creation is a main topic of the Human Resource
Management activity in FITT Toolbox.
3 | April 2011 Business Modeling

4. Design
 The Design step of the business model design process aims at researching, generating and
testing viable business model options, and selecting a good one to pursue the Technology
Transfer effort with.
 A set of techniques supporting this step are described in the Business model design practice
 How to better work jointly with industry contacts is illustrated by the Entrepreneur In
Residence program, part of the Business model decision practice.
4 | April 2011 Business Modeling

5. Manage
 The manage step of our process aims at
 implementing the business model prototype in the field and
 adapting it in response to the market evolutions.
 Is it the daily work of executives to manage the business. Strategic concerns of the 2
business model practices (Business model design practice & Business model decision
practice), and IP management concerns of the IP Management activity in the FITT toolbox
come in handy.
 The SIRUNA business case provides an example of a business model managed to exploit
open source software (see “Open source business model”).
5 | April 2011 Business Modeling

6. Suggested Readings
 Link to bibliography
 Link to code book
Business Model
Transfer Opportunity
Value Proposition
 Link to related websites
http://www.businessmodelalchemist.com/
http://en.wikipedia.org/wiki/Business_model_innovation
6 | April 2011 Business Modeling