The specific objectives of the feasibility study were to validate the economic and technical feasibility of the novel product. The study provided Monidor with four key results.
• First, Monidor has a clearly defined business plan which enables the commercialization of the technology. Creation of the business plan included, among others, detailed market studies and market prioritization, analyses of hospital purchasing processes, and definition of the collaboration model with distributors.
• Second, Monidor has guaranteed the product-market fit of Monidrop. This step was done together with Oulu University Hospitals and Nordic Test Beds collaboration network, and it included technical feasibility testing, feedback gathering and product adjustment.
• Third, the company has ensured that Monidrop is safe and functional in hospital environment by doing the usability study at Oulu University Hospital.
• Last, Monidor has now a clearly defined IPR strategy to support the commercialization activities and protect innovations with patents.