Market Needs Assessment for Novel Diagnostic Technology

The client had a novel thermal sensing technology originally developed for industrial applications but had interest in developing this into healthcare solutions.

A potential blockbuster application had already been identified and the client had run a series of workshops with patient groups and interviews with clinical stakeholders. However, with no prior experience of product development in medical devices, the client was unsure of how to interpret the data gathered to inform product development and commercialisation to underpin a business case for investment.

Based on the information gathered to date, I developed a series of detailed use cases, identifying unmet needs in the clinical workflow, and the key stakeholders involved, as well as helping the client to understand the specific intervention points where the technology would have the highest clinical utility and the clearest competitive positioning.

Although this approach ran counter to their initial desire to see the technology being widely adopted as a tool in the “mass market”, by developing a focused and stepwise approach to meeting the market requirements, my client was able to create a robust and credible development plan to secure further investment. The technology has now been spun out, with a strong business case to support future capital investment.

User Insights Study to Inform New Product Development

The client had developed a new consumable product which would potentially improve the performance and useability of its system but at a higher cost than its existing product.

I conducted a series of client interviews to assess the perceived incremental benefits of the switch and to identify the “must have” product claims to justify the premium price, as well as articulating those features that were now “table stakes” in the market. This informed the client’s longer term product development and operational roadmap.

Product-Market Fit Assessment

A leading technology transfer organisation, my client had been asked to provide an assessment of market attractiveness for a range of technologies. As the client lacked specific diagnostics sector experience, I was asked to review a subset of the technologies, to identify potential unmet market needs, the competitive positioning and the points of differentiation to inform a longer term investment and product development plan.

Commercial Strategy & Exit Planning

My client had enjoyed early success as a provider of an innovative solution for cleanroom monitoring to the pharmaceutical industry.

Looking to fuel growth, I was asked to review potential strategic partners with a view towards planning for a potential future trade sale. After researching a range of potential partners, I provided a detailed triaged shortlist for further consideration by the board.

This included suggested initial engagement strategies, and insights to potential organisational alignment, market focus and portfolio fit.

Annual Report Development

For early stage companies, particularly those listed on public exchanges, the development of a coherent and accessible annual report is essential for investor engagement, providing a window to the company’s achievements and future plans.

Working with the finance team, directors and other stakeholders, I supported the development of the final “glossy” report, from initial briefing to develop content to final proof reading, ensuring alignment with the detailed financial reports and notes. This included creating a new articulation of the business model, and crafting CEO and Chairman statements and feature sections on values and innovation.

Environmental, Social and Governance Statement

Increasingly, ESG is an essential component of any investor pitch but one that is still often overlooked. I developed a new ESG statement for my client, identifying novel sources of ESG value to align with their business model and strategy and to appeal to a wide range of investors.

Organisational Design

Although well-established with a solid reputation in the market, my client had struggled to grow its sales pipeline in recent years. There had been considerable churn in the sales leadership and in the team itself, leading to an uncertain growth plan.

Working closely with the client CEO and the HR team, I led an assessment of team capability and developed an alternative reporting structure to improve strategic alignment and ownership. I supported the HR team and incumbent leadership in implementing the new structure, identifying and mitigating key risks and mapping out the contingent steps to rapidly effect change.

Interim Team Leadership

When the head of business development stepped down at short notice, it coincided with a period of intense corporate development, stretching the senior team bandwidth. I provided interim leadership of the business development function on a fractional basis, supporting near term sales pipeline development and enabling the CEO to focus on urgent corporate development activities.

Policy Development

When the pandemic struck, and my client had to move to remote working overnight, it was left with outdated health and safety documents that did not reflect new practices for safe working. Using publicly available source documents to establish best practices, within a few days, I developed a clear health & safety policy and provided the supporting suite of policy documents in accessible language ready for implementation in the new working environment.

Process Development

Following a period of significant staff turnover in the Sales function, I worked with the incoming sales leader to develop a clear and detailed business development process map. This defined expectations of the required activities at each step, enabling greater ownership for the critical tasks and handover between functions. It also led to a clearer assessment of opportunity status to share with the wider senior leadership team and informed the approach of financial forecasting from the pipeline.