Technology Description Clause Samples

Technology Description. A description of the technology lets investors know what they are investing in. The challenge is to keep it as short as possible, while still painting the complete picture. It should not be overly technical, but it clearly needs to describe what the technology does, what is different or new about it and why it is relevant and thus addresses an unmet user need. As an extent of the technological description, a description of the novelty or radicalness of the innovation is important for investors before they feel confident enough to invest in the innovation. ▇▇▇▇▇▇▇ describes how new and unique the technology is, and in what way it is based on scientific findings. Radicalness indicates the compatibility with current infrastructure. A completely radical technology is not just a new technology that can potentially open up a new market, but it also disturbs the status quo and the way of doing things. Usually with completely radical innovations, new infrastructure and legislation is required, and new stakeholders will arise because of it. Completely radical technologies are very rare however, and it is not always advantageous to have a radical technology. The risks of such a technology not being successful are very high and the required time of development before it is market ready is also quite high. However, the rewards when it succeeds are very high as well. The radicalness of the technology is therefore an important factor in determining which type of investor will be willing to invest. Most likely, the majority of the time building the company will concern the technological development of the innovation. A clear overview of tasks, milestones and deliverables of this technological development is therefore very important for potential investors. A common way to map this process is though the use of ▇▇▇▇▇ charts. Important in such a roadmap that there is a clear overview of the different dependencies such as when task C cannot start if task A and B have not finished yet. A healthy development plan has several parallel tasks and not too many dependencies. Every technological development comes with risks. Having risks is not a bad thing, but having no clear overview of the possible risks or of the severity and mitigation measures of these risks is. Each risk should be described, the chance of it happening should be indicated (low, medium high) the potential effects should be described, the severity should be indicated (low, medium high), the proposed risk-mitigat...