pCPR had an intense 2016 (INEO Start mentoring programme at IPN Incubator, selection for acceleration programme “Building Global Innovators 7th Batch” from MiT Portugal, nomination to InnoStars Award 2016 by EIT, selection as Alpha StartUp at WebSummit 2016, 1st Patent submission) culminating with the SME Instrument Phase I contract assignment.
Since December of 2016, here’s the key milestones achieved by pCPR project:
A. National Innovation Certification NP4457 by official body EiC;
B. IP Contract with Expert Company Patentree (Portugal);
C. Confirmed in-depth freedom-to-operate analysis;
D. Regular monthly meetings of the Advisory Board;
E. First Round of Investment – preparatory meetings with Portugal Ventures, BusyAngels and Joyn Ventures;
F. Technical Development Contract with reputed IPN-LAS for Lab development of pCPR proprietary regional cerebral oximetry sensors;
G. Technology transfer agreement of non-invasive cardiac output method with company BioBee (Spain);
H. Technical partnership agreement with Centre for Advanced Sensor Technology – University of Maryland (USA) concerning transcutaneous CO2;
I. Technical Development Contract with CITEVE (Portugal) concerning the thoracic pad development;
J. Marketing Plan partnership with Marketing Master PG Program of Nova Lisbon University (Portugal);
K. Regular technical feedback from a 16 Emergency Professionals Focus Group;
L. Letter of Interest from major Portuguese private Health Group concerning field Trials;
M. Letter of Support from the National Resuscitation Council, branch of the European Resuscitation Council;
N. National IP Report received confirming 1st Patent Claims;
O. 2nd Patent submission concerning cerebral regional oximetry and thoracic pad configuration;
During SME Instrument Phase 1 pCPR Team focused on the analysis and validation of pCPR in different perspectives: product technical feasibility, market and competition in-depth analysis, product feasibility from an economic point of view, alignment with legal and IP requirements and definition of pCPR commercialization strategy to ensure a rapid and sustainable market entry. So, aligned with the activities expected in the description of action, the following technical and business tasks were performed:
A. Refinement of the business model and go-to-market plan;
B. Engagement with new international strategic partners for product validation and commercialization support;
C. Creation of awareness about the gaps in the emergency medical services and its needs of introduction of new standards and technological innovation.
D. Refinement of product features to complete an operational prototype with cross development of technologies from different fields (medical, software, hardware, biomedicine, materials…) and technology transfer from national and international R&D entities and other companies;
E. A provisional patent regarding the thoracic pad was submitted and an Intellectual Property protection plan has been developed.
During the feasibility study (Q1+Q2 2017) Medsimlab has developed pCPR prototype, while validating its go-to-market strategy and defining an IP roadmap which will be the baseline for its dissemination strategy based on the submission of patent applications. In addition, important partnerships were established.
PCPR MAJOR TAKE-HOME MESSAGES FROM SME INSTRUMENT PHASE I:
Expect stiff competition and a highly-regulated market on debut in 2018;
Key competitors will be Cardiac Science, Physio-Control, Philips Healthcare and Zoll Medical;
Submit additional patents and actively protect IP in target markets;
Design-Measure-Learn at all stages of product development;
Address Emergency Managers and not only Emergency Teams;
Conduct Pilot Trials asap in Germany and UK;
Enlarge Team competencies recruiting entrepreneurial attitude;
Engage in all-levels of emergency networks;
Find healthcare expert funding;
Apply to SME Instrument Phase II;
Work harder!
