When innovators set out to commercialize a new product, they often direct their initial efforts and resources toward creating a solution for a problem they believe they’ve identified. However, they frequently neglect to ask potential paying customers—essentially their target market—whether this problem is significant to them and if they would be willing to pay for a solution. This oversight can be a critical, and sometimes existential, mistake for a startup.

During this session, Priya Amin, Jeff Garanich, and John Inserra from Pitt’s Office of Innovation and Entrepreneurship will discuss steps innovators can take to avoid this pitfall and effectively identify the ‘best’ market for their innovation, if one exists. They will also address how to navigate the situation if they discover that their presumed customers are not interested in paying for their solution. Additionally, they will share examples of companies that successfully commercialized new products by incorporating early feedback from prospective customers.