Diagnostic Product
Gaurry Sharma
Problem Statement
Men suffer from a disorder that hampers their ability to become fathers.
They have to undergo surgery where tissue is cut off from their reproductive parts to diagnose if they would be able to have children or not.
This surgery is usually painful and causes a lot of inconveniences. It is also expensive.
Solution A non-invasive diagnostic tool that uses bodily fluid, to determine the presence of sperm in men, so that they can understand the possibility of becoming fathers and starting a family, without having to go through invasive tissue removal surgery.
This solution allowed users to use their bodily fluids and conduct a noninvasive test to determine if they can become fathers and have a child or not.
The solution was more effective and less painful as it reduced around 60% of unnecessary surgeries.
This diagnostic product was also 1/4 the price of the surgery.
Challenges & Learnings
The market for this product was relatively quite low whereas the investment needed in this product was huge. Hence the break-even point was quite far off
Since it is a healthcare and diagnostic product, it requires tons of approvals and clinical approvals from relevant authorities.
We are proud that we were able to come up with a business model where we instead of being the product manufacturer, decided to be just the technology enabler (providing the solution to other health companies to build products on.
We were also able to get quick cashflows through this method and also reduce our liability of clinical trials.
Also built a 5 year project plan for the same to bring this to market.
Our project was pitched to the stakeholders and the project received a funding of approx 1mn Euros for this project to go forward.
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Posted Apr 29, 2021
A non-invasive diagnostic tool that diagnose, without having to go through invasive tissue removal surgery.
