Biomedical Innovation & Venture Creation Canvas

This document provides an in-depth analysis of the process of biomedical innovation and venture creation. It covers various aspects such as market analysis, value creation, customer acquisition, and scaling. The document also includes information on the initial market, product unit economics, sales strategies, and capitalization.

BIOMEDICAL INNOVATION & VENTURE CREATION CANVAS
1 Raison d’Etre
Mission:
The mission of this
company is to provide all
necessary patient medial
high-quality equipment
such as imaging
equipment’s for
diagnosis to the local,
national and
international market for
the growth of the
company.
Passions:
The main idea is to
expand the company in
a diverse field of
biomedical such as
diagnosis equipment’s,
acute care equipment
and other health care
equipment’s.
Values:
These values include
research-based
development of
equipment’s, uplifting
customer satisfaction
and empowering internal
strength of the
company.
Initial Assets:
to start up the new
market in the global
market as a biomedical
company, both
4 Competitive
advantage
Moats:
In the current
context, the company
will maintain a higher
amount of assets
compared to a
competitor that
enhance investment
in the industry to
gain revenue faster.
Core:
The core policy of the
company is to invest
money into the
product and develops
innovative products
through research and
building an efficient
team
Competitive
Positioning:
Competitive
positioning strategy
of the company is to
provide high-quality
imaging technology
affordable price in
the area where
biomedical product
manufacturing
companies are less.
5 Customer
Acquisition
Decision Making
Unit:
Customers
raw material
supplier are the
gatekeepers for the
organization
Patients are the
users in this case
Customer Buying
Process:
Identification of
issue
Exploration for
information
Evolution of
Alternatives
Purchase choice
Purchasing of
product
Post purchasing
evolution
Windows of
Opportunity:
lacks of competition
make it easier for
the organization to
attract potential
customers through
campaigning and
sponsorship
Possible Triggers:
Online and offline
promotion through
social media can be
8 Overall
Economics
Estimated R&D
Expenses:
1st year 120,000
2nd Year 150,000
3rd Year 190,000
4th Year 210,000
5th Year 280,000
Estimated G&A
Expenses:
1st year 22,000
2nd Year 35,000
3rd Year 42,000
4th Year 55,000
5th Year 62,000
LTV/COCA ratio:
Correct for long term.
9 Design & Build
Key Assumptions:
the company has to
invest a huge amount for
the technologically
advanced raw material
to manufacture a high-
quality product
Assumption Tests:
Make an outline of the
method for identifying
the assumptions and
resolving these
assumptions based on
three parameters:
probability, severity, and
resolutions.
MVBP:
X-ray
Ultrasound
Magnetic resonance
imaging.
Tracking Metrics:
11 Venture Formation
Stakeholders:
(Primary)owner,
directors, managers,
employees, customers;
(Secondary)supplier,
distributor, advertiser;
(Excluded)Government,
Labor union
Defined Roles &
Responsibilities:
Director: supervising
Employees: involvement
Supplier: to supply the
product
Distributors: to distribute
the p
Community providing
resources: to provide the
raw material
Law firm: to involve in
the legal issues
Assign Roles &
Responsibilities:
Engagements: (member,
type, terms)
Stakeholders Engagement Power Interest
Director/
owner
Internal
Primary
Very High High
Management Internal
Primary
High Moderate
Suppliers External
Secondary
High Low
Employees Internal
Primary
Moderate Moderate
Customers External
Primary
Low High
Governments External
Tertiary
High Low
Community External
Secondary
Moderate Moderate

expandability and
workforce will act as
major assets.
Initial Idea:
The initial idea of the
company is to offer an
innovative set of
products of the diagnosis
to the market where
they can gain enough
potential market and
growth and profitability.
an effective strategy
to gain the attention
of the customer.
Regulatory Strategy:
Monitoring the
performance
Supervise the
progression
Recruit quality
control
Collecting data from
the risk assessment
Monitoring
manufactured
product
Ensuring the
efficient distribution
Gaining customer’s
feedback
Reimbursement
Strategy:
Identification of the
factors
Optimizing the
network design
Enhancing IT
functions and
infrastructure
Enhancing
innovation of the
manufacturing
Communication with
the providers
Corporate Filings:
Formation Agreements:
2 Initial Market
Beachhead Market:
Saudi Arabia
End user profile:
3 Value Creation
Use Case:
6 Product Unit
Economics
Business Model:
integrated business
model
7 Sales
Preferred sales
channel
direct approach of
the product where
10 Scaling
Product plan for
Beachhead Market:
X-ray, Ultrasound and
Magnetic resonance
12 Capitalization
Capital Need:
19,000,000
Use of Funds:
1726500

Awareness
Interest
Desire
Action
Personal Presentation
Promotion
Communication
Purchasing
patients, residents of
rehab, health
professionals and other
allied health staffs
TAM
Middle East
Persona:
Mr.A, Supply chain and
procurement manager of
the TSC
10 customers:
Public service health
care
Health clinics of town
Government health clinic
Pathology laboratories
Non-government
organization
Diagnosis laboratory
Private rehabilitation
Medical research
institutes
Radiology services
Emergency sectors of
health care
Product Description:
imaging technology
for monitoring and
diagnosis
Problem Being
Solved:
Since the logistics
and transportation
are not efficient in
Saudi Arabia
compared to other
conventional
customers’ base of
other biomedical
company, the logistic
and transpiration
would a huge
problem for a startup
company
Quantified Value
Proposition:
The value position of
the company will be
high-quality imaging
equipment’s which
would provide users
of health care
Pricing:
Penetrating pricing
is an effective
strategy to gain
faster growth
Short term LTV: 540
Short term COCA:
333
Medium term LTV:
966
Medium Term COCA:
240
Long term LTV:
1000
Long term COCA:
340
services would be
directly available to
the customers
without the
involvement of the
intermediate dealer,
like indirect sales
channel
Sales Funnel:
six steps strategy
would be followed by
the company
Short Term Mix:
health campaign
Medium Term Mix:
digital advertisement
Long Term Mix:
selling the product
with the help of the
internet
imaging would be the
initial product
Next Market:
the computed
tomography, fluoroscopy
and Mammography and
Emission tomography
Product plan beyond
Beachhead Market:
Magnetic resonance
angiography,
Hematology Systems,
and Stratus CS 200
Acute Care Diagnostic
System
Follow-on TAM:
Asian countries such as
china, Pakistan, Iran ,
Afghanistan, Iraq would
be the follow on total
addressable market for
slow and steady
expansion of the
company
Offering Type:
 Computed
tomography
 magnetic resonance
imaging and magnetic
resonance
angiography
 fluoroscopy
 Mammography
 X-ray
 Emission tomography
 Ultrasound
 Free shipping of
product
 Discount of product
Pre-Money Valuation:
Post-Money Valuation:
Investor Profile:
Investor Persona:
10 Investors:
 Public service health care
 Health clinics of town
 Government health clinic
 Pathology laboratories
 Non-government
organization
 Diagnosis laboratory
 Private rehabilitation
 Medical research institutes
 Radiology services
 Emergency sectors of health
care

facilities with
accurate screening
and high endurance
of product for 2
years.
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