Our prospects will be reached through a dedicated sales workforce, that will carefully manage the relationship with each one of them, creating a strong network of BionIT Labs authorized resellers. As stated before, the price strategy will grant the resellers a higher margin compared to the competitors; in fact, despite the high technology features, Adam’s Hand will pursue a price-based strategy: thanks to the high-quality 3D printing technology implemented and the above-mentioned patent-pending mechanism, the price of the device with three high-resistance aesthetic glove and a 5 years warranty package (free check-up at month 24 and 48 since the purchase, free replacement device during repair) will be less than €20,000, with a variance up to 75% compared to competitors’ price. Pursuing that strategy, the expected penetration market rate will be higher: in fact, both the reseller (thanks to the increased margin he can obtain due to the lower purchase price) and the end user (with partial reimbursement provided by the local health system) will benefit.
Apart from all the conventional online and offline marketing activities to promote the positive impact of the EC funding and our product Adam’s Hand, our team is very active in attending industry events such as CES. We will also exhibit our device in national and international prosthetic fairs, conferences and symposiums, such as Rehacare in Düsseldorf, ISPO’s 17th World Congress, OT World in Leipzig and Cybathlon 2020. We will also publish several scientific papers regarding the device mechanics and electronics, and control systems.
This Feasibility Study has allowed us to define the final specifications of our Adam’s Hand device (1 technological feasibility study) confirm that there is an important European and global market potential (2 market assessment), refine our business model by studying the unit pricing model (of 13,000€) in detail (3 pricing model assessment), check out our main risks (4 risk analysis), confirm that we are following a strong IP protection strategy (5 IP assessment). We also refined some parts of our business plan.
In short, our objectives, concept and impact have been confirmed and we therefore want to continue with our business idea and apply for further funding once there is more certainty surrounding the COVID-19 epidemic.
