Thorough research on market and competitors helps you make better decisions. It is also valuable when you want to convince grant agencies and investors of the value of your innovation.
For many science-based startups there is a plethora of potential customer segments, and it is usually not trivial to assess which segment is the most suitable entry market.
In cases where there is a clearly defined first customer, information may still be lacking about the needs and priorities of the customer and what your business can do to strengthen the customers’ bond to your product. Another key piece of information is to figure out how much the customer would be willing to pay for your solution.
We help you investigate the market opportunities for your innovation by collection and analysis of quantitative and qualitative data. We conduct interviews with industrial stakeholders and other relevant experts to identify customer needs and assess market readiness.
The result of a market analysis is a written report (text or presentation format) that can be reused for investor pitches and business plans. The material gives a structured and substantial basis for informed comparison, discussion and decisions when choosing entry segment. A market opportunity assessment often produces several leads for co-development projects with potential customers or industrial partners.
During the process we keep close contact with the client. The direction of the work is always directed by what will bring most value to the client. A market opportunity assessment is often combined with a competition analysis.
We help you identify, structure and analyze your competition, considering both technologically similar solutions and other very different options for dealing with customer needs that may be considered. Data is collected both from quantitative and published sources and by qualitative interviews with users and other stakeholders.
The results of a competition analysis are valuable for strategic positioning and pricing as well as for risk assessment and risk management. A thorough competition analysis is an important factor to gain credibility with investors. Sometimes we can also identify potential partners or future exit possibilities among the competition.