Frank R

Frank Rayal is founding partner at Xona Partners, a boutique management and technology advisory firm. His focus is on enabling companies leverage new technologies and market trends to develop new revenues. For over two decades, Frank worked to bridge the divide between technologies and markets by leading new product introductions through the entire life-cycle from concept to roll-out. Frank co-founded wireless pioneer BLiNQ Networks. He held senior product management, marketing and business development positions at Ericsson, Redline, and Metawave. He holds a BS in electrical engineering from Case Western Reserve University, Cleveland, Ohio, and an MASc in electrical engineering and an MBA from the University of Toronto, Canada. He is a senior member of IEEE, and a member of Professional Engineers Ontario.


I help companies capitalize on emerging technology trends, evaluate new markets and entry paths, plan for M&A and investment activities, define technology strategy, establish strategic partnerships, and craft positioning and messaging.

I also help financial investors on technology and commercial due diligence.

My activities leverage the Xona Partners team to cover a range of technologies and access global markets. Our team consists of senior business and technology professionals – most with startup founder background, and all have held profit and loss accountability at executive level.

Activities include the following:

New Business Incubation

  • Market assessment and new market opportunities
  • Market entry strategy definition
  • Technology and market strategy validation
  • Strategic partnerships development
  • Competitive positioning, messaging and thought leadership
  • Technology assessment and IPR valuation
  • 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 technology product 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 and opportunities from an emerging process and technology to an incumbent vendor
  • Develop new and complementary wireless services for a fixed access service provider

To discuss further, contact me by pressing here!