Validate what customers want and which proposition stands out.
Intended for entrepreneurs with a business development plan in progress, the Market Evaluation Validation (MEV) study offered by the Centre focuses on the impact of your technology, business proposition and the market dynamics. It confirms what you know, then evaluates the opportunity and business proposition which include customer requirements, service model, market growth rate and trends, as well as likely competitors. Preliminary review of patent and licensing issues is also provided and clients may raise additional issues to examine in this study. The result is a customized commercialization roadmap that serves as a key component to business planning, thus enhancing the chance of a successful launch.
Driven by primary research of the users and influencers along with an in-house review, the MEV shifts the entrepreneur focus to what is practical and incorporates customer voice into the solution. The written report clarifies the issues of value proposition and adoption rate. It simultaneously provides insight with a To-Do list taking your technology situation and business experience into account.
The MEV is also invaluable in providing stakeholders with an objective common framework for discussing milestone financing, monitoring progress and focusing activities of the venture getting to market.
While favourable factors might well support the existence of a market, they do not guarantee success to any firm that chooses to enter it. At the heart of all successful businesses is the exchange of money for products or services of value, and thus entrepreneurs structuring their business must grapple with the fundamental questions of defining the market need and identifying their first customers – and the answers are not always obvious.