go-to-market planning, mtic
DESCRIPTION
At SCALEit Inspire Health, Lars Svane Hansen from MedTech Innovation Center in Aarhus, shared his insights to how you can best prepare your self as a company when addressing a new market.TRANSCRIPT
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My Agenda
- MTIC – Who we are and what we offer
- A new approach towards export promotion
- Top 5 go-to-market insights
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Who We Are…
• MedTech Innova3on Center is a non-‐profit organisa3on financed through: – Central Denmark Region – European Regional Development Fund
• Established in 2009 and funded un3l end 2014
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What We Do…
”We work with businesses, science and hospitals to bring innova8on into health care and growth into businesses”
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Innova3on Into Health Care Three MTIC Innova3on Agents working within the hospital organisa3on – Capture ideas and drive innova3ve processes – Keep the commercial perspec3ve – Interface to businesses – Scout for industry trends and technologies
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Growth Into Busineses
Our client are: Scientists, entreprenuers, clinicians, start-ups and companies within medtech and biotechnology.
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360⁰ Business Check-‐Up
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Health-‐IT Go-‐To-‐Market 2012, Germany Why Germany?
-‐ German HIS market size -‐ Will reach 1 billion USD by 2017 -‐ Growth market -‐ CAGR 7% -‐ Denmarks largest trade partner -‐ EU market – Same regulatory framework – Almost! -‐ Geographical closeness -‐ Cultural closeness -‐ To some extend :-‐) -‐ Same burning pla;orm in health care -‐ Conserva3ve in implemen3ng new innova3ve solu3ons in health care –
First mover opportunity
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A New Approach to Export Promo3on
A shi^ from events to focused go-‐to-‐market programs which will guide the SMEs toward
reaching their goals.
”We need to take the SME by the hand”
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An Intelligent and Individualized Approach
• Intelligent Decission Making – Up-‐to-‐date German Health-‐IT Industry and Market Analysis – Company Specific Report
• Develope Your Go-‐To-‐Market Plan – Assistance from local industry expert, MTIC
• Camps/Field Trips, ”Get Messy – Get it Under Your skin” – MEDICA, November 2012 – conhIT Camp, April 2013 – Roadshow Hamburg/Berlin – Düsseldorf/München 2013
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The SME’s Promise!
• You must have a Health-‐IT product and a reference base in Denmark
• You must allocate a dedicated sales management ressource
• You must allocate regulatory ressources if needed • You must be persistent • You must contribute financially to the company specific ac3vi3es
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Top 5 Go-‐to-‐market Insights
• Map stakeholders - understand how to present your business case • Understand the regulatory framework - what implications will it have
on your solution • Package your solution as a product, not as a project • Get access to and use local industry network • “Invest” time and money in a local show case • Team-up with a local partner
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Stakeholder Map Flow of Money / Cycle of Care
Medical Need
Pa3ents Pa3ents Advocacy Groups
Physicians
Prof. Associa-‐3on
Nurse Prac33o-‐ners
MedTech Staff
Health Care Facility
Facility Trade Groups
Private Payers
Public Payers
Governmt. Officials/ Legislators
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Program Outcome ü 2 companies obtained their first customer/develop-‐ment partner, important German reference sites
ü 4 companies signed or are nego3a3ng contract with business partners, a basis for scaling their business
ü 4 companies have an order pipeline to work on ü All companies have established valuable industry contacts/network
ü All companies have obtained valuable insight into the German health care system and stakeholders
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Par3cipants and Budget
• Cetrea, CareCom, Daintel, Al3plan, ViewCare and Care2Wear.
• Program spending EUR 75.000 -‐ company financing EUR 20.000
• conhIT 2013 company booth at the Danish Pavillion EUR 2.200
• Roadshow Berlin EUR 800 per company