The nature of highly regulated industries means emerging technologies will inevitably be faced with long roads to commercial success. Exploring market opportunities en route to the final destination, can help ensure that companies reach their ultimate goals. An early-stage company embarking on a potentially long, heavily regulated pathway to market, came to us searching for such a medium-term market that would allow them to generate early revenues while staying true to their company mission.
To begin the process of identifying new target markets, we conducted a comprehensive assessment of the technology. This survey highlighted a set of markets complementary to the company’s main aim. By mapping out the full development route of the technology, we highlighted two markets that could be accessed with lower regulatory hurdles which would not divert the course of the technology advancement. By targeting applications that could be used as stepping stones to the desired market, we produced a market strategy with the aim of generating revenues early, ensuring the company would be best positioned for investment to reach its goals.
The company took away a fresh perspective on the future path of development for their technology. They are taking on board our advised strategy to target the identified medium-term markets which they can use as a means of enabling their long-term objectives. We are excited to see this technology progress and will be ready to support the company with their future endeavours as they continue on their commercialisation journey.