The concepts that are the subject of an auction can have wide variation in their level of detail, focus and specificity. The challenge is to develop these ideas into a descriptive and analytic framework to minimize information asymmetries among the bidders. This means translating and enhancing each raw idea into a Concept Analyst Report.

The Concept Analyst Report is a structured and consistent means of communicating a concept. It turns a raw idea into a formed concept allowing the bidder to make their own, independent judgment of what is being proposed and what recommends it to the organization. The concepts are described in short snapshots that allow comparison. Greater depth and detail are intentionally omitted.

The Concept Analyst Report consists of the following sections:

Description – 100 to 200 word description of the concept emphasizing the essence of the idea and relevant information (history, existing technology/product relationships, etc.).

Technology Effects – The possibilities of the technology expressed purely as measurable effects, while removing specific manifestations (e.g., removing the applications or possible product descriptions). This section describes the essence of the technology and allows the reader to project possible extensions and other uses.

Community Wants – Specifically identifying the needs and desires of a potential market – essentially, what is this opportunity going to solve and for whom? The opportunities addressed are based on the needs and desires of people who will potentially experience the technology in one form or another.

Solution Concepts – Specific ideas for potential products, services, operations, or new business models. This includes ideas on how the technology would be applied or the opportunity exploited, as well as ideas on potential markets and competitive replacements.

Typically, in a raw idea description, these components are intertwined in the narrative. Often at least one is missing entirely. It’s the job of the facilitator to turn the raw ideas into the structured and consistent form so that each concept is on the same playing field. We’re in the process of doing this for the concepts that will be a part of this auction.