ABSTRACT
If your first thought each day is “what am I going to innovate?” then your second thought each day should be “how do I get my innovation into the hands of someone who needs it?” There are many innovations that might have tremendous value but fail to get out of the lab and into the hands of those needing it or even wanting it. Worldwide, the top 20 innovative organizations spent in excess of $165.3 billion in R&D spending in 2014. 1 If the fruit of this innovation investment is to be realized, then a primary goal needs to be getting that innovation out of the lab and fully monetizing it to keep the innovation ecosystem supported. Additionally, technology transition needs to serve the public good and support an organization’s staff recruitment and retention goals. Transition from lab to market needs to be a thoughtful approach starting from day one and considered at each decision point.
