!

Piezonix



Customer Discovery Challenge - Case Study



Searchlite

THE

ILLUMINATING THE

Copyright © 2013 All Rights...
Summary
The SearchLite worked with university spin-out Piezonix to
identify and assess alternative Customer Segments for t...
Introduction
• Piezonix LLC, founded by Dr. Yang Liu and professor Shantanu Chakrabartty,
is a Michigan State University s...
Customer Discovery and NSF I-Corps
• Piezonix participated in the NSF sponsored Michigan I-Corps Program and

elected to f...
Second Iteration - The SearchLite
• The SearchLite, a software tool that generates commercially relevant Customer

Segment...
Customer Segments - Market Size
Over one week in November, 2013, innovators and entrepreneurs participated in a
Customer D...
Customer Segments - Product-Market Fit
The second dimension considers the degree of Product-Market Fit* when
contrasting t...
Customer Discovery Challenge Results
Some of the Customer Segments had already been investigated by the Piezonix Team.
Som...
Action Planning Matrix
The Action Planning Matrix drives discussion and provides context for next steps

The SearchLite re...
About TheSearchLite.com
The SearchLite is an online community that identifies commercially
relevant Customer Segment Profile...
!

Piezonix



Customer Discovery Challenge - Case Study



Searchlite

THE

ILLUMINATING THE FUTURE

Copyright © 2013 All...
Upcoming SlideShare
Loading in …5
×

Piezonix case study

596 views
450 views

Published on

The SearchLite worked with university spin-out Piezonix to identify and assess alternative Customer Segments for their patented piezo-electric sensor technology. The following case study summarizes the process followed and outcomes achieved.

Published in: Technology, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
596
On SlideShare
0
From Embeds
0
Number of Embeds
43
Actions
Shares
0
Downloads
5
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Piezonix case study

  1. 1. ! Piezonix 
 Customer Discovery Challenge - Case Study 
 Searchlite THE ILLUMINATING THE Copyright © 2013 All Rights Reserved
  2. 2. Summary The SearchLite worked with university spin-out Piezonix to identify and assess alternative Customer Segments for their patented piezo-electric sensor technology. The following case study summarizes the process followed and outcomes achieved.! “The SearchLite platform is an effective tool to help startups such as Piezonix with a quick snapshot of the potential customer application landscape to facilitate the process of customer discovery.” - Dr. Yang Liu, CEO & Co-Founder of Piezonix snapshot of the potential customer application landscape to facilitate the process of customer discovery. Copyright © 2013 All Rights Reserved
  3. 3. Introduction • Piezonix LLC, founded by Dr. Yang Liu and professor Shantanu Chakrabartty, is a Michigan State University spin-out company to commercialize a patented piezo-floating-gate (PFG) self-powered sensing technology. • Piezonix’s sensor-to-circuit integrated system can collect, compute and store historical statistics of a structure’s strain-rate at levels of operational power limits not possible with competing sensor technologies for applications such as heath monitoring. • By operating on picowatts to nanowatts of power, Piezonix’s self-powered sensors can function continuously by scavenging energy from, for example, a miniature piezoelectric transducer. • Piezonix’s IP portfolio consists of both and pending patents. Copyright © 2013 All Rights Reserved issued
  4. 4. Customer Discovery and NSF I-Corps • Piezonix participated in the NSF sponsored Michigan I-Corps Program and elected to focus on validating problems and solutions in the area of “smart health monitoring”. • The Piezonix Team was quite well versed in civil engineering applications and other “well traveled” markets for piezoelectric sensor technology. They were interested in validating their solution relative to other emerging application areas through the use of Customer Discovery. • Piezonix concluded the Michigan I-Corps Program with a strategy for which customer applications to pursue and in which sequence. Copyright © 2013 All Rights Reserved
  5. 5. Second Iteration - The SearchLite • The SearchLite, a software tool that generates commercially relevant Customer Segment Profiles for Tech Inventors and their Commercial Advisers quickly and inexpensively, approached Piezonix to conduct a Customer Discovery Challenge. • The SearchLite reduces the market risk of the early-stage technology by quantifying product-market fit of Customer Segments and providing actionable next steps. • The Piezonix technology was featured in the press and the founders were now getting calls across multiple industries asking for application specific prototypes. • Given the time and expense of developing prototypes, Piezonix needed a quick update of the potential customer application landscape to inform the decision of where to invest time and money for further prototyping. Copyright © 2013 All Rights Reserved
  6. 6. Customer Segments - Market Size Over one week in November, 2013, innovators and entrepreneurs participated in a Customer Discovery Challenge using The SearchLite’s online community platform. The participants surfaced twelve unique Customer Segment Profiles* each defined by , Jobs to be Done, Gains Desired and Pains to be Relieved. Customer Segment Profiles were assessed based upon two dimensions, each with a numeric scale of 1(worst case) thru 5 (best case). The first dimension considers the size of the problem to be solved given a particular Customer Segment Profile. The scale of this dimension includes big “Shark Bite” Opportunities (5), medium “Dog Bite” opportunities (3) or small,“Mosquito Bite” opportunities (1). The SearchLite reduces the market risk of the early-stage technology Copyright © 2013 All Rights Reserved * Courtesy of Alex Osterwalder and businessmodelgeneration.com
  7. 7. Customer Segments - Product-Market Fit The second dimension considers the degree of Product-Market Fit* when contrasting the needs and desires of a particular Customer Segment Profile* with the Value Proposition of the Piezonix Solution. The scale of this dimension includes “Good Fit” (5), “Some Fit” (3) or “Poor Fit (1). Next, a Product-Market Fit Index™ is calculated by multiplying the two scores. The PMF-Index™ is used to rank the Customer Segment Profiles from Best to Worst. Thus, the best case scenario results in a PMF-Index™ = 25 (5 X 5) by addressing a large market opportunity (Shark Bite) with a “Good Fit” to the technology’s Value Proposition. The SearchLite reduces the market risk of the early-stage technology Copyright © 2013 All Rights Reserved * Courtesy of Alex Osterwalder and businessmodelgeneration.com
  8. 8. Customer Discovery Challenge Results Some of the Customer Segments had already been investigated by the Piezonix Team. Some Customer Segments required granularity about the Jobs, Gains & Pains. A few Customer Segments were surprises and relevant to the technology. Each of the 12 Customer Segments were mapped to action plan as follows: • Iterate - Good candidate Customer Segment, but more granular information is needed regarding industry characteristics and/or new technology adoption dynamics. • Pivot - Aspects of the Customer Segment are interesting, but the Value Proposition requires significant modification in order to create a better Product-Market Fit. • Archive - The Market Size Opportunity is small and/or the Product-Market Fit is poor. The Customer Segment is archived for future reference should circumstances change. The SearchLite reduces the market risk of the early-stage technology Copyright © 2013 All Rights Reserved
  9. 9. Action Planning Matrix The Action Planning Matrix drives discussion and provides context for next steps The SearchLite reduces the market risk of the early-stage technology Copyright © 2013 All Rights Reserved
  10. 10. About TheSearchLite.com The SearchLite is an online community that identifies commercially relevant Customer Segment Profiles for new technologies, their inventors and their commercial advisers. Our Customer Discovery Challenges reduce market risk of new technologies by quantifying product-market fit and providing actionable next steps. Our Customer Discovery Challenges reduce market risk of new technologies by quantifying product-market fit and providing actionable next steps. ! Check out TheSearchLite.com Copyright © 2013 All Rights Reserved Copyright © 2013 All Rights Reserved
  11. 11. ! Piezonix 
 Customer Discovery Challenge - Case Study 
 Searchlite THE ILLUMINATING THE FUTURE Copyright © 2013 All Rights Reserved

×