Go-to-market planning, MTIC
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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.
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Go-to-market planning, MTIC
- 1. My Agenda - MTIC – Who we are and what we offer - A new approach towards export promotion - Top 5 go-to-market insights
- 2. 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
- 3. What We Do… ”We work with businesses, science and hospitals to bring innova8on into health care and growth into businesses”
- 4. 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
- 5. Growth Into Busineses Our client are: Scientists, entreprenuers, clinicians, start-ups and companies within medtech and biotechnology.
- 7. 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
- 8. 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”
- 9. 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
- 10. 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
- 11. 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
- 12. 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
- 14. 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
- 15. 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