PART B: valorisation plan
SECTION I: The product
1a |
The innovation potential of this product is related to:
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The innovation potential of this product is related to technology-driven innovation. MnemoKairos has been indeed designed in order to manage and monitor different kind of clinical information in a digital way. It has been a way to answer to a specific CRO need.
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1b |
What added value for end-users does the product hold? • higher quality • Better technical characteristics • Other … |
Compared with the currently used methods, MnemoKairos is an high-quality database. Thanks to this database, it is now possible to record, analyze and report clinical and financial information about all clinical trials conducted.
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1c |
What is the Unique Sales Proposition of the potential product? |
A designed database for the management of all kind of information about Clinical Trials. |
SECTION 2: The Market
2a |
What is the target market for the product?
National ¨ European ¨ Global þ Please describe the characteristics of your target market. |
The target market of MnemoKairos is global. MnemoKairos could be introduced by every Institute, in order to harmonise clinical information, as the European Union requires. Clinical trials performed in the European Union are indeed required to be conducted in accordance with the Clinical Trials Directive. There are a number of guidelines specifying various aspects of clinical trials, and in particular:
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2b |
How the product is characterized from the following options? Number of companies producing similar products in the field.
• Base – applied by all companies in the industry • Leading – applied by a single or limited number of competitive companies • Key –at a development stage, but has already proven its potential |
The product can be characterized as base because it could be applied by a lot of companies in the industry, after a specific development.
There are probably other databases similar to MnemoKairos, produced by big ICT players, that can be adapted to different fields (medicine, engineering, …)
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2c |
What type of market demand will be satisfied?
• Existing demand – the market is already developed • hidden (latent) demand – the market has yet to be developed |
The product satisfies an existing demand of precision, monitoring and availability of clinical data. The most important objective of MnemoKairos is the improvement of the human resources productivity.
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2d |
What is the current stage of the product’s market life cycle?
• Implementation, implementation in production (leading to a radically new product offers) • Growth (rapid spread within the industry or outside it) • maturity (parameters of the technical characteristics of manufactured products reached their maximum, higher-grade products can be manufactured on the basis of technological substitution) |
The current stage of the product’s market life cycle is Growth. Database can’t be considered a new product, even if MnemoKairos has various specific features like: data centralization, modularity, platform portability, real-time reporting, ….
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2e |
Strategic partnerships (existing or potential). |
CRO developed completely the database with internal resources and thanks to a multidisciplinary development team.
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SECTION 3: The Competition
3a |
What is the competition within your target market? |
The EU Clinical Trials Register website contains information on interventional clinical trials on medicines. The information available dates from 1 May 2004 when national medicine regulatory authorities began populating the EudraCT database, the application that is used by national medicine regulatory authorities to enter clinical trial data. The EU Clinical Trials Register website launched on 22 March 2011 enables users to search for information which has been included in the EudraCT database. Users are able to view:
The details in the clinical trial description include:
Some information are not available, like:
According to these guidelines, there are companies that produce a similar database. In order to have a more precise competitor analysis, we should consider also the ICT companies that design and develop databases.
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3b |
What competitive advantages will the introduction of the new product ensue?
• lower prices based on lower production costs • product differentiation (uniqueness of the product proposal) |
The competitive advantage that the introduction of the new product will ensue is the product differentiation.
The competitive advantage over the competitors indeed is the combination of the features of the database.
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3c |
Potential products relate to the following price range:
• High price range • Average price range • Low price range |
The potential price policy is average price. |
3d |
Potential products will be marketed:
• To regulated markets (e.g. heat supply, water supply, universal telecommunication services, agricultural products, fishing industry, architectural services) • To markets operating on the principle of free negotiation between agents on the market |
The product will been marketed to free markets. |
SECTION 4: Indicators
Estimated cost of the new products | 100 |
Expected market volume (potential / maximum number of users) | 500/150.000 |
Expected sales volume | 140 in the first 3 years |
Expected market share of the company (proportion between sales and total company sales in the relevant market) | 2% |
KEYWORDS QUANTITATIVE ASSESSMENT (0-5).
Please encircle as appropriate.
Added-value potential | 1 | 2X | 3 | 4 | 5 |
Size of future market demand | 1 | 2 | 3X | 4 | 5 |
Competitive positioning of the product | 1 | 2 | 3X | 4 | 5 |