Hearing It Like It Is:  A Market Viability Check

An established US-based semiconductor design company had developed technology with applications in biological physiology monitoring.  To develop it would be a major undertaking in an unfamiliar and highly regulated industry.  They needed sector-experienced help to assess at low cost whether genuine demand existed before pursuing the project commercially.

The task was to identify attractive healthcare markets and discuss the product with senior contacts within those markets to give an accurate answer to the client.

Second Mile’s approach was first to search for a further application area with a lighter regulatory burden to enable early adoption.  Using Second Mile’s detailed sector knowledge, the field of pharmaceutical testing was identified.  This related to clinical models, toxicology and safety testing.  In this field the product could reduce the number of procedures required during research.   The application area also offered a much shorter time to market than traditional veterinary and medical areas.  Second Mile worked with the client staff to scope out the product that could be made available to this audience.  Second Mile then contacted a number of individuals through its networks in the pharmaceutical, biotech and regulatory arenas to identify and assess possible interest.

The Seismic Survey successfully identified a further application area for the technology.  During the conduct of the study one global pharmaceutical company stated an interest in trialling the product at the earliest opportunity.  The survey also helped to confirm a commercial strategy for taking this technology forward.  The client and Second Mile are now working to make this a reality.