Many promising companies in emerging industries struggle to turn prototypes into products that grow their business and create jobs. They lack the commercialization resources needed to conduct market opportunity assessments, scale-up manufacturing or train employees. This is a growing problem in a rapidly changing global market place, where speed to market may dictate success or failure. Companies that take too long to commercialize their products may fail to capitalize on a narrow window of opportunity before competitors swoop in and pass them by.
Business guru Jim Collins reminds us that being the first doesn’t always guarantee success. But in my line of work – accelerating the growth of innovation clusters in emerging industries – the speed to market of potentially game-changing products and technologies is vital to long-term economic competitiveness. In fact, being able to design and manufacture high-potential products quickly is critical to revitalizing manufacturing in the United States.
To read the original article: Speed to Market: An Entrepreneur's View - Forbes
