It’s been said that the default state of a startup is failure. Before you even try to get your product, service, or technology off the ground, the cards are stacked against you. Why is that? Are 90% of startups truly unviable?
No — but 100% of startups have limited resources. And how you use those resources during early stage development dictates your eventual success.
Traditionally, most startups address technical risks and solutions first. That’s a quick recipe for running out of gas (read: money) before you even know where you’re going.
Evidence shows that taking initial steps to address market risk and business model development early on can be highly predictive of future success.
It’s those very first steps that matter most. They point you in the right direction, enable you to make the best use of your resources over the long haul, and increase your chances for success.
The SearchLite uncovered novel applications for the patented flow cytometry technology that could facilitate early market entry, early revenue generation and new avenues for growth. They had several good recommendations on the best market opportunities for the flow cytometry technology and were able to advise us on aspects that were critical for quick adoption of the technology.
The SearchLite provided path-to-market benchmarking and insights into the commercialization dynamics that our university research team will need to address to build out our targeted cancer therapy solution in order to be attractive to investors and the pharma industry. The information and the process proved very useful and provided actionable information for our team.
The SearchLite identified several customer segments that we had not considered. In a couple of cases, they also drilled down to uncover insights relative to industry practices that are relevant to new product commercialization.
I was very impressed with the contacts provided by The SearchLite and their positions of influence within Value Analysis Teams as well as their insights on what type of product value is need to achieve commercialization.
The SearchLite process generated helpful insights for the inventor and tech transfer team. We validated some assumptions and generated some new and relevant opportunities to investigate further.
The Searchlite process generated relevant insights for the inventor and the tech transfer team. We validated some assumptions and generated some valuable new key findings which has helped define our path to market.