Product/MarketFitProgramGuide
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AboutProduct/MarketFit
Serviceoffering
Locations
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Funding
Availablebudget
FundingGrants
Contractualdocuments
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6
ApplicationProcess&Requirements
Procedure
Submission
Eligibilitycriteria
SelectionCriteria
Selection&Jury
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6
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8
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Evaluation&Audit
KPIs
Deliverablesandoutputs
Reporting
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9
10
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Usefulinformation
Timeline
Contact
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ANNEX1SELECTIONCRITERIA
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2
TheProduct/MarketFitprogramisintendedtosupportdigitalhealthstart-upsintheir
validationandinternationalizationtootherEuropeancountries/markets.Start-upsget
customizedguidanceuponmarketentrybarriersinthecountries(s)oftheirchoice.
AboutProduct/MarketFit
Enteringanewmarketasadigitalhealthstart-uprequirescorrectmarketinsights,knowledgeonregulation,
adequatecontactsandapossiblere-fitofyourproductand/orbusinessmodeltothenecessitiesofthatmarket.
Goingonyourown,asastart-up,requiresalotofresources,timeandmoney.TheProduct/Marketfitprogram
offersyouaquickmarketscaninSpain,UnitedKingdom,Germany,Belgium,theNetherlandsandFrance.The
informationyouacquirewillgiveyouactionableinsightsandwillbeoftremendousvalueforyourcompanyto
convinceinvestorsinthenextfundinground,furtherexploreordiscardpossibilitiesonacertainmarket.
Serviceoffering
TheProduct/MarketFitprogramoffersthefollowingservicestodigitalhealthstart-upsintheabove-referenced
locations:
GO2MARKET
REALLIFETESTING
Ø Marketaccess:keyusers,keydecision
Ø Experimentationlivinglab
makers,distributorsforacertainsegment
(problem/solutionfit)
Ø Businessmodelinaparticularmarket
Ø Interoperabilityvalidation&testing
Ø Marketinformation:healthcare
Ø Clinicalvalidation
organization,healthITsystems&standards,
Ø Productcustomization
private/publicmarket,marketsize
Ø Performance&scalabilitytesting
Ø Regulatory,privacy&security
Ø Revenuemodel,willingnesstopay&
reimbursement
Ø Landingofficespace
DELIVERABLE:Marketaccessreport+stakeholderlist DELIVERABLE:ToDoList
Ø FACILITIES
Ø NETWORK
Ø
Facilitiesinthelocalecosystemsincoworkingspaces.Thesefacilitiescanbeused
uponagreementwiththelocalpartner.
Ø
Accesstoalargenetworkofexperienced
health&carestakeholders;entrepreneurs,
decisionmakers,largeenterprisesand
investors.
Theseservicesareavailabledependingonthelocationandtheserviceproviderandarevaluedinapprox.
3
25.000€baseduponacustomizedprojectplanbetweenthedigitalhealthstart-upandtheserviceprovider.
Applicantsarestronglyencouragedtodiscussanappropriateserviceofferwiththerelevantcontactattheir
preferredlocations.
Locations
Belgium
TheIMECofferingconsistsof(a)FYS(FindYourStakeholder)aninnovationtooltohelphealthcare
entrepreneursandbusinessesgetafulloverviewofthemarkettheyareaimingtoaccess,(b)performanceand
interoperabilitytestingand(c)LivingLabServices.Afterafirstorientationworkshop,aspecificofferingwillbe
workedoutwiththewinninghealthstart-up.IMECoffersthefollowingservices:
1.
2.
3.
BusinessInnovation
Viaahealthcarespecificinnovationframework(A&Aapproach),imecresearchersareabletoanalyze
allstakeholderswithinatargetedmarket-environmentwithoutforcingthemintopre-madecategories
androles.TheModelisorganizedinastep-by-stepfashion(Understand,Environment,Define
Stakeholders,InvestigateStakeholdersandAssemble).
UserInnovation
Capturing,understandingandvalidatingusers’interactionswithproductsandservices,atanearly
stage,transformingideasintoprototypesuserscaninteractwithintheirdailycontext,shaping
‘(minimum)viableproducts’throughaniterative,agileprocess.
TechnicalInnovation
Technicaltestingoffersaccesstothehardware,measurementequipment,user-friendly
softwaretoolsandprofessionaltechnicalexpertiseneededtoefficientlyprototype,develop,andtest
yourICTinnovations.Ourstaffisreadytoassistyouthroughouttheentiredesign,developmentand
performanceevaluationcycleofyourinnovativeproduct,applicationorprotocol.Thisbothon
performancetestingandscalabilityofyourproductaswellonallrelevantinternationalhealth
informationexchangestandardsandinteroperabilitybetweenyourapplicationandthe
sending/receivingsoftware.
France
MedicenParisRegionandCapDigitalarecompetitivenessclustersoftheParisRegion,dedicatedrespectivelyto
lifesciencesanddigitalinnovations.Togethertheyrepresentauniqueinter-clusterinitiativeandadirectaccess
tooneofEurope’slargestecosystemindigitalHealthcare,gatheringmorethan200stakeholdersinthefield:
industriesformostpartbutalsoacademics,topresearchinstitutes,hospitals(APHPisthelargestpublic
hospitalnetworkwith37hospitals),incubators,livinglabsandterritorialauthorities.Offerofservicesina
nutshell:
Networkandconnections
• Identify/getyouintouchwiththerightIndustry/academiapartners
• Helpyoutogetintouchwithotherbio-clusters&ecosystems
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UnderstandingtheFrenchinnovationecosystem
• InternationaleventsinParisandFrance/matchmaking
• Workshop,seminarsandthematicbusinesstours
• Maincontactpointtowardsexperts
AccesstotheFrenchmarket
• Accesstoincubatorsandsoftlandingprograms
• Accesstolivinglabs,cliniciansandtestbeds
• Coordinationwithotheragenciestohelpunderstandtheopportunitiesofdevelopingactivitiesin
France(egtaxcreditpoliciesforR&Dactivities)
Germany
MedicalValleywillidentifytherequirementsofthecompanyregardingmarketaccessinGermanyduringan
initialworkshop.Basedontheserequirementsaneed-drivensupportservicewillbeofferedconsistingofan
initialmarketanalysis,identificationofkeyopinionleadersandfirstusers,establishingcontacttopotential
commercializationpartners/distributorsinitiatedanddefiningabusinessmodelfortheGermanmarket.In
additiontothatfurthersupportcanbegivenaccordingtotheneedofthecompany:Touchdown-base;support
inopeninguptheGermanbranchoffice;acquisitionofinvestmentsandfunds;supportinclinicalvalidationand
regulatory.
Spain
TogetherIFEDESandUniversityPolitecnicadeMadridoffertoacceleratethestartups’marketorientationin
Spainwithvalueaddedservicessuchasmarketintroduction,competitionanalysis,pricingmodelinSpanish
market,marketvalidationwithstakeholders,legislationetc,…thatofferstrategicmarketinsightsandspeedup
thego2marketinSpainbymakinguseoftheirnetworkofbusinesscontactsinthehealthdomain.
TheNetherlands
YES!DelfthasthebiggesttechecosystemoftheNetherlandsthatincludeentrepreneurs,coaches,corporates,
government,themostimportantthingYDcanhelpwithismakingsureallthesepartiesarealignedandmeeting
withallthesepartiesareplannedinarelativelyshortperiod.Theresultshouldbethatifyouwanttohave
accesstotheDutchmarketyoucanflyinfor1or2weeksandmeetallrelevantparties.
UnitedKingdom
TheInnovationAgencyworkscloselywiththeNHS,academics,localgovernmentandindustrytoimprove
health,generateeconomicgrowthandputinnovationintopractice.WeconnectbusinesseswiththeNHSand
widerhealthcareeconomy.Wecansupportthedevelopmentofanidea,provideadviceonnavigatingtheNHS,
helpwithclinicaltrials,buildpartnershipsandsupportaccesstofundingorcommercialexpertise.Additionally,
wecouldprovideclinicalinputintoyourproduct,arrangeaccesstoclinicalexpertsandevaluators,helpwith
procurement,tenderresponsesandtailoredmarketingfortheNHS.
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Funding
Availablebudget
TheProduct/MarketFitprogramhasanavailablebudgetof375,000Eurostoassistdigitalhealthstart-upsto
taketheirhealthrelatedproductstoEuropeanmarkets,otherthantheirhomemarket.Winningprojectswill
eachreceiveservicestothemaximumamountof25,000Euro.Thebudgetwillbemadeavailableviaa
competitivecallbeginning2017.
FundingGrants
Digitalhealthstart-upscanapplyforservices,worthmaximum25.000€,tostartaProduct/MarketFitproject.
Thisfundingisintendedtoexplorethemarketpotentialoftheproductinanothercountrythanthehome
marketandperformamarketvalidation.OfferedcountriesareSpain,France,Belgium,Germany,The
Netherlands,UnitedKingdom.Aminimumof1andmaximum3digitalhealthstart-upswillbeallowedper
country.Nocashpaymentswillbemadetothedigitalhealthstart-up.
Contractualdocuments
Nocashpaymentswillbemadetothedigitalhealthstart-up.Theelecteddigitalhealthstart-upandthelocal
serviceproviderneedtoagreeonaProduct/MarketFitoffer(firstdeliverable).Youcanfindatemplateofthat
offerherestatingtheapplicabletermsandconditionssuchasbutnotlimitedtointellectualpropertyrights.
TheDigitalHealthStart-upwillcomplywithallapplicablelawsandregulations(including,withoutlimitation,the
lawsandregulationsrelatingtoexportandstateaid).
ApplicationProcess&Requirements
Procedure
Requestsforfundingmustbesubmittedusingtheonlineapplicationform.Submittedapplicationswillinitially
beassessedagainsttheeligibilitycriteria(seeannex1below).Asubstantivereviewandawardof
Product/MarketFitfundingisperformedbyaselectedjurypanel.Basedonthisevaluation,thebest15projects
willbesetagainsttheircountriesofpreferenceandanassignationwillbemadetoaserviceprovider.Contracts
areclosedwitheachselecteddigitalhealthstart-upatthemomentwhenaProduct/MarketFitofferissigned
withtheserviceprovideroftheassigneddestination.
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Submission
Thesubmissionmakesuseoftheonlineapplicationformthatconsistsoftheelementsbelow.Oncean
applicationissubmitted,nomodificationsorupdateswillbeadmitted.Applicationsmustbereceivedbythe
closingtimeanddateofthecall.Lateproposalswillnotbeevaluated.Onceyourapplicationissubmittedan
emailwillbesenttoconfirmtheacknowledgementofreceipt.Byapplyingadigitalhealthstart-upagreeswith
theapplicabletermsandconditionsforaProduct/MarketFitservice.
§ Applicationformincluding:
Companyinformation
DescriptionofcurrentMinimumViableProduct
Referenceletterfromlocalincubator/technologytransferofficeorinvestor
Actofestablishmentofthecompany
Fundingreceived
§ VideoPitch(max5min)including:(includeavideogoogledriveandcopyitssharedlink.)
Businessmodel
Shortdescriptionoftheuniquenessofthetechnologyandproduct
Competitivesituation/MarketPotential
Impact
Identificationandevaluationofmajormarketandtechnicalrisks
Maturitystage&closedtermsheets
Existingcustomers
Descriptionofteam/company
§ Executivesummary(notmorethan3pages)statingwhatareyour2targetEuropeanmarkets(forthe
Product/MarketFitexercise)&howtheProduct/MarketFitservicefitsintoyourbusinessstrategy.
AllapplicationsmustbemadeinENGLISH.
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Eligibilitycriteria
Thedigitalhealthstart-upsneedtobeattherightmaturitystageandfulfilacoupleofbasicrequirementsto
takethebestprofitfromthisservice.Werequireyourcompanyto:
ü
ü
ü
ü
ü
ü
ü
ü
BeaDigitalhealthstart-up(ehealth,mhealth,Clinicaldecisionsupport,BigDataandevenMedtech,Lifetech&Biotechif
adigitalcomponent)
EstablishedinEurope
Haveatechnologicalinnovation;eitheratechnologicalbreakthroughordeployinganexisting
technologyinaninnovativewayinanewapplicationdomain.
HaveaMinimumViableProduct
HaveamaturityofadvancedseedstageorpreparingSeriesA
st
Haveatleasta1 payingcustomerinhomecountry(i.e.countryofincorporation)
Owntheintellectualpropertyrightsorhavealicensetousethem.
Notolderthan3yearsatthemomentofsubmission
Eachdigitalhealthstart-upmaystatetwocountriesofpreferenceatthetimeofsubmissionandneedsto
provideasupportletterfromalocalincubator,technologytransferofficeorinvestor.
SelectionCriteria
Allapplicationsthatmeeteligibilitycriteriawillbeassessedbyanexperiencedjurywhowillscoreandrankeach
proposalaccordingtoagridofselectioncriteriamentionedinthetableinannex1.Specifically,thefollowing
parameterswillbetakenintoaccount:
•
•
•
•
GoToMarket:concernstheneedandpotentialvalueoftheenvisagedproductapplicationforactors
inthehealthcareindustries.Specificcriteriaare:cleardefinitionofthecustomerneed,detailed
elaborationofthebusinessmodel,identificationofcompetitivedifferentiators,gotomarketstrategy
withaclearidentificationoftheinitialmarket.
TechnologicalExcellence:concernsthestateandqualityoftheworkingproductonatechnological
levelandthealignmentwithProduct/MarketFitobjectives.Specificcriteriaare:technical
advancementoftheMVP,thetechnicalsoundnessoftheproposedcommercialproduct;
innovativenessoftheenvisagedsolution.Inparticularapplicantsmusthaveaminimumviableproduct.
TeamExcellence:concernsthecommitmentoftheteamandthecapabilitytodevelopandbringthe
commercialproducttomarket.Specificcriteriaaretheexperienceoftheteam,theproventrack
recordofworkingtogether,technicalandbusinessexpertise,readinessforbeingcoachedandaclear
internationalbusinessorientation.
BusinessStatusandPotential:concernstheabilitytoleveragetheprovidedsupportintosustainable
returns.Specificcriteriaare:maturityoftheprototype,capabilitytoplanandexecute,andbusiness
potentialintermsofannualrevenue.
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Selection&Jury
TheProduct/MarketFitprogramwillselect15digitalhealthstart-ups,whichwillreceiveservicestothe
maximumamountof25.000€foroneproduct/marketfitexerciseinoneofthe6participatingcountries.Each
countrywillhaveaminimumof1andmaximumof3start-upstodeliversuchservices.Afterrankingand
selectionbythejury,selectedapplicantswillbematchedwithoneofthetwostatedcountriesoftheir
preference.Incasesomedestinationsareoverdemanded,theproduct/marketfitprogramholdstherightto
offeranothercountrytothestart-upuponmutualagreement.Inthecasenoagreementisreachedafter2
weeks,thestart-upnextinrankwillgettheopportunityforofferedProduct/MarketFitservices.
Thejurymemberswillhavethefollowingprofiles:
•
•
•
1EITHealthBusinessAcceleratorExpert
1BusinessexpertoftheP/MConsortium*
1Businessexpert/investororindustrypartner
TheProgramcoordinationwillensurethattheexpertjurymembersdonothaveanyconflictofinterestin
relationtotheproposalorprojectonwhichtheyarerequiredtogiveanopinion.Reviewerswillevaluate
proposalsremotely.Start-upscanmentionpossibleconflictofinterestintheapplicationandstateexclusionsfor
specificjurymembers/companies.
*Businessexpertscannotevaluatestart-upsthatappliedfortheirownserviceofferingorthatarecomingfrom
theirowncountry.
Evaluation&Audit
KPIs
KPI
DESCRIPTION
Gotomarketstrategy
Commitmenttotheproject
Startupwillattendmonthlymeetings,willcollaborate
asexpectedtotheprogramandwillparticipateinthe
end-evaluationbytheP/MFitconsortium.
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Deliverablesandoutputs
Uponselection,thedigitalhealthstart-upneedstofindagreementonanofferwiththeindicatedservice
providerinthecountryofchoice.Thisofferwillbesignedbybothpartiesandneedstocontainmilestones,
deliverablesandtimeindications.Forenablingthepaymentofdeliveredresults,thelocalpartnerandthe
selecteddigitalhealthstart-upshalldefineandcollaborateinthefollowingdeliverables:
TYPE
Title
Description
Timing
th
DEL
Offer
Thisplanstateseffort,workplan, May15 time&moneyspendinthe
agreedservicesbetweenthe
start-upandtheserviceprovider.
th
NeedstobesignedbyMay15 .
OUT
Intermediateevaluation
Allselectedstart-upswill
Monthly
participateonamonthlybasisto
theprogressmeetingsinorderto
meetthemilestones,
collaborationandqualityofthe
service.
OUT
Endevaluation
Allselectedstart-upswill
Nov2017
participateintheendevaluation
uponcompletionoftheservice.
Usewillbemadeofthe
Innovatrixmethodology
DEL
ReportP/MFitService
Enddeliverableconsistsofthe Nov2017
findingsofthemarketvalidation
andgo2marketstrategies.
Reporting
InNovember2017eachstart-upneedstoperformaformalassessment,bymeansoftheInnovatrixtool.All
start-upsagreetoprovidefullcollaborationinthisexercise.Thedataobtainedbythisexercisewillbeproperty
ofIMECforthefurtherdevelopmentandimprovementoftheInnovatrixtool.
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Usefulinformation
Timeline
Product/MarketFitTimeline
Publicationofthecall
15/02/2017at12noonCETtime
Closureofthecall
31/03/2017at12noonCETtime
EligibilityCheck&Selection
14-21/4/2016
Outcomeoftheselection
21/4/2017
Commencementofproject
Asof1/5/2017
Signatureoftheprojectplan
ByMay15 Finalizingoftheselectedprojects
November2017
th
Contact
[email protected]
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Annex1SelectionCriteria
Companylifecycle
Generalappreciationofthestart-up'slifecycle.
Customersegment
Understandingofthetargetsegment(s).
Understandingofneed
Understandingandvalidationofcustomerneedsandpainpoints
(segmented).
Currentalternatives
Marketmaturityandavailabilityofalternativesorsubstitutes;
relativepositioningcomparedtoalternativesandpossible
substitutes.
Valuepromise
Abilityanduniquenessofsolvingtheneed;relatedtocustomerneed
andalternatives.
Barrierstoadoption
Understandingandappreciationofthebarrierstoadoption;these
aretypicallyrelatedtothecustomerexperience(seealsoBlueOcean
strategyBuyer-Utilitymap).
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Solution(product)
Maturityofthesolutionorproduct.
Valuecapture
Powerofthepricingmodel.
Understandingofeco-system
Understandingofecosystem;establishmentandvalidationofgo-tomarketapproach,dealingwithpartnersandchannels.
Scalability
Degreeofinternationalscalabilityandoperationalscalability
Innovativeness
Sustainable(technological)advantage
Businessskills
Competenciestorunabusiness
Coachability
Opennesstobechallengedandopennesstoadvice;readinessto
learnandimproveperformance
Internationalbusiness
orientation
Opennesstoconductinginternationalbusiness
IntellectualProperty
DegreeofformalizationofthedifferentIPrights(copyrights,
trademarks,patentsandsoftware)inthecompany
Fundingleveland
sophistication
Levelandsophisticationoffunding
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Acquisitionoffunding
Actionstakentoacquirefunding
Revenues
Revenuesorrevenuerunrate
Chancesofbankruptcy
Probabilityofbankruptcyintheshorttomediumterm
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