Frank Rayal

Frank Rayal is a technology market strategist with over two decades of experience in the telecom and Internet ecosystems. He is a founding partner at Xona Partners, a boutique advisory firm specialized in new business incubation in Technology, Media and Telecommunications (TMT). Frank co-founded BLiNQ Networks and held senior product management, marketing and business development positions at Redline, Metawave and Ericsson. Frank holds a BS in Electrical Engineering (High Honors) from Case Western Reserve University, Cleveland, OH, and a MSc in Electrical Engineering and an MBA from the University of Toronto, Canada. He is a Senior Member of the IEEE, and a member of Professional Engineers Ontario.

My Interests and Activities

My interest lies in bridging the divide between technology and markets to create new solutions and business opportunities. I advise executives on technology and market strategy, identify market opportunities and develop new services and products. I work with private equity investors and venture funds on technology and commercial due diligence and with the management of their portfolio companies on developing and executing on growth strategies. Some of my services include:

New Business Incubation – Products, Services, and Markets

  • Market assessment and validation
  • Market entry strategy
  • Validation of technical and market strategy
  • Strategic partnerships and new market opportunities
  • Competitive positioning, messaging and thought leadership
  • Technology assessment
  • Monetization strategies and business models
  • Product roadmap and requirements validation
  • Value proposition development
  • Financial modelling and business case development


  • Due diligence – commercial, market and technology
  • Competitive positioning – pre-M&A market positioning and value proposition (CIM)
  • IP valuation, positioning and acquirer identification
  • Technology assessment

Examples of Recent Projects

  • Valuate IPR portfolio in an emerging technology
  • Position a company in home automation for M&A activities
  • Identify strategic partners and investors for a wireless infrastructure company
  • Complete technology and market due diligence for an e-commerce platform developer
  • Validate market and industry assumptions and trends for an IoT infrastructure vendor
  • Assess threat from a emerging process and technology to an incumbent vendor
  • Develop new and complementary wireless services for a fixed access service provider

To contact Frank press here.