Introduction
Planet Innovation
August 2014
Stuart Elliott
planetinnovation.com.au
Commercial-in-Confidence
Planet Innovation exists to
develop and commercialize
products which have a positive
impact on the world.
Our main product focus areas are:
BIOMEDICAL DEVICES
POC DIAGNOSTICS
Connected Devices
Diagnostics
Life science
Medical devices
Instruments + consumables
Hospital POC devices
Home POC devices
Wireless Solutions
Smart Control Systems
Smartphone Integration
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Product development
With more than 100 staff, we have the
depth of expertise, breadth of experience,
and facilities required to deliver total
product development in-house.
CAPABILITES
•
Scientific
•
Systems Engineering
•
Industrial Design
•
Mechanical Engineering
•
CAD Engineering
•
Manufacturing
•
Software Engineering
•
Quality/Regulatory
•
Electronics Engineering
•
Commercialization
•
Program Management
•
Sales & Marketing
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Industrial
Design
Science
Systems
Program
Managers
Quality
Manufacturing
Mechanical
& CAD
Software
Electronics
PI has full engineering capabilities across all
disciplines required to develop sophisticated
devices.
What is your business model?
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Business Model
Flexibility is critical….
particularly when
entering in a new
market
We are seeing many high growth
companies achieve great success with
disruptive business models (as
opposed to disruptive products)
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planetinnovation.com.au
Business model flexibility examples:
A.
Service companies moving into selling products
B.
Product companies selling hybrid products & services
C.
Companies creating new channels to access end users directly
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Example 1: Technology Product being sold
under a subscription service business model
Home Automation Industry
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planetinnovation.com.au
Example 1: Technology Product being sold
under a subscription service business model
Home Automation Industry
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Example 2: Medical
Diagnostics Industry
Most medical product companies
make money selling reagents and
‘smart’ consumables
“Razor – Razor Blade” model
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Example 2: Medical Diagnostics Industry
Product Business moving to a service model:
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Example 3: Point of
Care Medical
Diagnostics Industry
Triage MeterPro
(Immunoassay)
PT/IN Ratio Meter
(Coagulation)
Clearview
Alere is a global leader in the rapidly
growing POC market
Their business model is dominated by
selling devices and tests – e.g. test
strips and cartridges
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Alere-I
(Molecular POC)
Afinion AS100
Analyzer
(ACR & CRP Panel)
Pima – CD4 Count
(HIV)
Epoc
(Blood)
Heart Check
Cholestech LDX
11
(Cholesterol)
Example 3: Point of
Care Medical
Diagnostics Industry
Product Business creating a new
channel and offering a hybrid business
model of products, tests and at-home
services
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Example 4: Medical
Diagnostics Industry
Manufacturer of medical diagnostic
analysers finding a new customer
and new business model.
Move from selling products to selling
services to develop diagnostic tests
for pharmaceutical companies.
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Example 5: Medical Industry
Genea: A world leader in IVF services.
Moved from selling IVF services to complementing this with product sales to
a global market.
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Example 6: Google
Google recently acquired hardware
companies Nest and Dropcam.
The business model is broad. It
offers the ability to sell devices,
services and data.
A key revenue model is demand side
management for energy retailers
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PI Examples
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Manufacturing
Planet Innovation’s manufacturing
division is an ISO 9001, ISO 13485
(medical) compliant facility
PI has established a medical device
manufacturing facility in Melbourne in order to
manage the manufacture and regulatory
compliance of products we design.
Enables a ‘design and manufacture’ offering, thus
aligning incentives between PI and its clients.
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Embryo Incubator
for Genea
PI has a commercial partnership with
Genea to develop and manufacture a
suite of innovative products for the
IVF market.
This device, developed for Genea, is a
revolutionary incubator for the IVF
market.
A ‘Design and Manufacture’ business
model allowed us to offer lower risk
terms for development to Genea.
Incubation
chamber
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Embryo
culture dish
Embryo
Development
POC Diagnostic
health monitoring
PI has a commercial partnership with
a medical diagnostic company to
develop a point of care diagnostic
device.
PI are investing in the development of
this device for co-ownership of the
intellectual property.
PI has the rights to exploit the
intellectual property in certain fields of
use.
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Ventis Home
Ventilation System
PI has a long term partnership with
Ventis to develop and supply
innovative home ventilation products.
PI co-funded product development in
return for an exclusive manufacturing
contract and the rights to use the IP in
non-competing fields.
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Thermostat
Connected Home
Zen is the first thermostat truly designed
for the connected home.
PI funded the product development and
generation of IP in return for exclusive
supply agreements.
We also licensed in some existing IP for a
minority equity stake in the new business
to minimize our up-front development
costs and risks.
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Looking in the crystal ball
Hybrid business models
(product, subscription & service)
Evolving business models
Combined commercial model & product innovation
Companies defining themselves by their expertise, not their
business model
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Thank you
AUSTRALIA
Phone: +61 3 9945 7510
81-89 Cotham Road,
Kew VIC 3101 Australia
USA
Phone: +1 847 574 6315
100 S. Saunders Rd. Suite 150.
Lake Forest, IL 60045
EMAIL
[email protected]
planetinnovation.com.au
A culture of awardwinning innovation
Australia’s Most Innovative Company
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