US Gateway – alternative routes for a Finnish Healthtech startup to get to know/enter the US market Findings from OWI field trip in Silicon Valley in 12 Sept. – 10 Oct 2010 Presented at OWI Startup Week 3.11.2010 Eeva Kiuru Oulu Wellness Institute
The U.S. market for wireless home-health technology is projected to soar from just $304 million last year to $4.4 billion by 2013. And based on the amount consumers are willing to pay for some of these services, the potential market is estimated to be between $7.7 billion and $43 billion annually. -PwC.
Helping to meet this demand, venture capital investment in wireless health and mHealth companies totaled $85 million in the second quarter of 2010, which was double the investment of the preceding quarter. - MobiHealthNews.
Know the stage of your business -> your readiness
Startup - conceptual phase, product development has not begun. Seed financing.
Product Development - developing one or more products, but have not yet begun shipping. Any number of venture capital rounds or public funding.
Product in Beta Test or Clinical Trials - For IT companies: product develompent ongoing, a prototype is being tested by select customers prior to market introduction. For medical device companies: the product is out of development and has progressed to human clinical trials.
Shipping Product - At least one revenue-generating product is being shipped, although other products may still be in development or beta test. For service companies, this stage indicates that the company is providing services to a customer base and receiving revenues for those services.
Profitable - Company is shipping products or providing services from which it receives revenues, and the company has reported that it is profitable.
Restart - Change in business direction or a dramatic shift in marketing strategy
Value chains, main events, conferences, tradeshows, competitive environment, analysts, points of contact, identified channels to validation process, gathering price information, experience on possible bottlenecks, gatekeepers, key players, identification of opinion leaders, different hospital’s business models, identified routes to markets, different geographical routes.