Foundation for Research Development 1 Page Business Plan
Overview
Foundation for Research Development has a clear business objective to develop, produce, promote and distribute commercialization of discoveries in life science services. These services have been developed over 16 years with a core focus on addressing the key customer problem and associated opportunities.
The Business Objectives
When as a key component of our growth strategy we consider it critical to identify and outline our business objectives, and align these objectives with clear and measurable development milestones. Our key long term business objective is to launch a new product. Whilst our existing products have been useful for testing the customer problem, new products are required to fully capitalise on our business potential. Our growth path is clearly oriented around the addition of new products, the development of these new products and the subsequent marketing of these. It is understood that costs will be associated with product development and marketing and these have been allowed for in our budget.
The Customer
Foundation for Research Development has been created with a clear focus on the needs of our customers. Through a structured customer discovery process, we have validated the key customer problem as Bringing strategic business practices to academic technology development. This is a critical issue for our selected target market of Life science companies.
The Value Proposition
Foundation for Research Development is uniquely positioned to deliver value to Life science companies. "Foundation for Research Development will Access to leading researchers and research infrastructure." In order to be deliver on this value proposition, we Sole source of IP developed at MUSC. This capability has taken considerable time and resources to develop and forms the cornerstone of our competitive advantage.
Competitors
We have a number of competitors within the commercialization of discoveries in life science market. We consider our key competitors to be: Other regional technology transfer offices and regional economic development offices. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with Other regional technology transfer offices and regional economic development offices by Deep experience and commitment to exellence.
Key Strategies
Over the next 6 months our focus will be to Develop and implement a strategic marketing plan. This task will be undertaken in the context of our broader strategy to Attract new sources of capital. These strategies are a tactical implementation of our overall business goal as outlined above.
Milestones
Measurement of the successful implementation of our strategies will be governed by measurable development milestones. The milestones that will be achieved over the next 2 years are: Build translation team Comlplete first translate project Commercialize first translated technology
About this document
commercialization of discoveries in life science Business Plan
This document was created by Robert of Foundation for Research Development using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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