Taking new technology into the market place is an inherently daunting process, from choosing the right beachhead market to effectively communicating a company’s unique selling points. A spin out from the University of Bristol came to us looking to better leverage their technology into the marketplace. Supported by a powerful but early-stage technology, they had successful bids on some development contracts outside of their initial target market and were considering pivoting to better deploy their expertise.
We began by gaining an understanding of the capabilities of the technology before conducting interviews with key personnel within the target markets to understand how the strengths of the technology compared to existing methodologies. We identified that beyond the company’s core technology IP, their expertise in solution-based research positioned them well to service several market segments, and highlighted areas ill-suited to incumbent technologies.
Based on these findings, we recommended that the company pivot away from a product pipe-line model and redeploy as a technology platform while harnessing the expertise of the firm to seize diverse market opportunities. We emphasised the generation of an IP portfolio as either the basis of a product-line or, more suitably to the company size, to facilitate future licencing opportunities.
With this structure in mind, we devised a roadmap to rebuild the business; concentrating efforts on delivering contracts in the markets with initial traction and framing future contracts to retain intellectual property within the company. We outlined funding timelines and where to focus recruitment efforts to promote sustained growth of the venture, as well as how to distinguish the firm’s unique offering from the rest of the marketplace. We see a bright future ahead and are excited to continue supporting their efforts.