Periodic Reporting for period 1 - VRMIND (Virtual reality based evaluation of mental disorders)
Période du rapport: 2015-06-01 au 2015-11-30
The overall objective of this project is the demonstration, clinically and in the market, of the higher performance of virtual reality environment based diagnosis systems for mental disorders. This will be mainly done through the execution of the clinical studies and the development of normative studies for the homologation of VRMIND in front of the medical and practitioner collectives of Europe, USA and Latin America.
• We’ve performed a Marketing Analysis studying:
o Customers: there’s a clear need of innovation and improvement in the test business. The market is very large mainly focused in Europe, NAFTA and LATAM. Private practitioners are the most interesting market segment for the initial market deployment despite private is larger.
o Company: we have the required skills and capacities. Current products target a small part of the market but ICSTEST, DIMEMO and DLCDETECT gives us access to the bulk of the target market.
o Competitors: contingent companies and products are strong but lack of capacity to imitate our product, a numerous collective new players are targeting the same market but their products are clearly underperforming
o Collaborators: distribution is at the same a competitor, but are at the same time interested in distributing VRMIND. The involvement of prescribers, both for market push and pull strategies is our main collaboration need.
o Context: the context is favourable to VRMIND due to the increasing awareness of society on mental disorders and to the tech trends, being going mobile and virtual the bid of main global tech firms.
• These finding has allowed us to know better the needs, motivations and potential resistances from customers and end users. We’ve defined the consequent business model and customer value proposition and the communication strategy to overcome resistances, foster the demand and materialise sales. No burdens have been identified in the Freedom to Operate study.
• In the economic study we’ve analysed the financial dimension of the business considering both the SMEI project and the foreseeable heritage of the company after the completion of the action. The profitability opportunity is large and clear and the loss risk is relatively low.
• Finally, we’ve designed the clinical validation and market demonstrator that will make all this possible.