Biomed_Entrepreneurship_Lecture_6-_March_14.2009

Biomed_Entrepreneurship_Lecture_6-_March_14.2009 - Managing...

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Managing Early Entrepreneurial Growth BUSINESS DEVLOPMENT STAGES Stage 0 : “Pre-revenue”, Business Plan Only Stage 1 : Legal Business Entity (LBE) created, “Proof of Concept”, an initial customer typically exists Stage 2 : TAP has been reached, positive cash flow attained Stage 3 : Business growth is predictable. Goals shifting from short-term cash flow to long-term strategic objectives. Stage 4 : Major financial event: IPO, large
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Business Modeling Strategies Your initial, and most important, post business- launch goal is to convert the projections made in your business plan into reality. Best approach is to craft a dual business strategy: Launch the business on a relatively small scale, concentrating on a narrowly defined subset of your target market customers. Be prepared to expand and implement a “scaled-up” growth plan if the business establishes initial market traction and profitability.
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Technology Commercialization Business Models “Service-Oriented” new business venture Represents about 80% of all newly established business ventures: Physicians, Hospitals, Clinics, Laboratories “Manufactured” Products Pharmaceutical products Medical devices Application software “Licensing Technology” to a strategic partner
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Technology Commercialization Business Models Service-Based” New Health-Care Business Ventures The methods for implementation often less obvious than with a manufacturing business: Use your creative talents! Lower fixed overhead requirements and much quicker projected TAP than comparable manufacturing-based business models. Inherently easier to “self-protect” your IP in a service-based business model. Examples of biomedical technologies that inherently lend themselves to service oriented business models: Medical Software, Diagnostic Imaging, Physiological Monitoring, Bioinformatics, any type of Medical or
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Technology Commercialization Business Models “Medical Device” Business Commercialization Options Direct Manufacturing/Direct Sales to End User Customer Ex: Medtronic, Siemens, GE Medical, Agilent Direct Manufacturing/Third Party Distribution Ex: Pharmaceutical and Biotech industry Out-Sourced Manufacturing /Direct Sales to End User Ex: Fisher Scientific Lab Equipment Out-Sourced Manufacturing/Third Party Distribution
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Technology Commercialization Business Models A Third Commercialization Pathway Choice……. . You may be able to
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This note was uploaded on 08/30/2011 for the course BUSN 1003 taught by Professor Carr,r during the Spring '08 term at Arkansas State.

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Biomed_Entrepreneurship_Lecture_6-_March_14.2009 - Managing...

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