Medical AI Development
A medical device company developed new technology in a slow growing category dominated by a handful of MNCs. To attract customers and gain a foothold, AI capabilities were added to the new technology and a data management platform was developed.
The platform attracted major hospital contracts and served as an entry for the introduction of the new device using the AI.
challenge
To define the parameters of an AI platform and perform initial valuation. To recommend integration of R&D, clinical trial and scientific research with device performance. To accelerate commercialization and expand revenue opportunities. To introduce the AI platform to a customer network.
solution
The elevation of the AI technology / data management platform in the business mix required a reorientation of the business.
Significant research was undertaken on the marketplace and on requirements for gaining market share.
Within one month a network of teaching hospitals with international renown was tapped
Funding opportunities for the start-up grew significantly. Negotiation with early stage investors was initiated
results
- A new business plan was prepared
- A new investment valuation was calculated
- Funding negotiation were initiated
- An established company in a target industry contracted for use of the AI technology; others customers are identified.
- Funding from research grants is planned
- Established International Brands were licensed