Periodic Reporting for period 1 - Cardiacom IMPLANT (Intelligent human diagnostic and therapy platform)
Reporting period: 2014-12-01 to 2015-02-28
The Feasibility Study has been developed to verify the technological, practical and economic viability of the innovation concept and to present its novelty to the medical industry. It contains an exploratory part and a planning part.
In the exploratory part of the Feasibility Study the following tasks were the most important:
• Exploration of the attitudes to cardiovascular disease based on the relevant and available statistics
• Definition of the demand of the new technology within the target group
• Attainment of the public opinion about the prevalence of relevant diseases
• Detailed comparison of currently available monitoring devices
• Examination of the technology’s market environment
In the strategic planning part of the Feasibility Study the following tasks were the most important:
• Determining the method of entering the market and elaborating the potential expansion model
• Determining of the optimal business model and analysing of the financial indicators of the project
• Determining of the objectives and tools of the marketing strategy
• Determining of the technological improvement; and the milestones of the project
As a result of demographic and social trends, the demand for consumer medical instruments and remote health services as a whole will show a significant growth over the next decade. The strategic objective of Atractor Ltd. is to understand and supply for, the needs of major user groups, to become a leading international medical instrument manufacturing and trans-national network communication system development company.
The international potential and business orders of magnitude inherent in the products justify the detailed elaboration of a business development plan in view of ensuring the successful product launch, its widespread dissemination, distribution and intense growth on the market. In order to achieve these goals the management decided to submit an application for the H2020 Phase 2 invitation to tender.
1. CardiaCom market analysis:
Results: The approach of the project has been expanded: the two technological directions are contact and implant solutions; the relevance of the solutions is clear among medical professionals; brand building is an important part of the project development; the demand is ensured on the basis of the actual socio-economic challenges; the number of potential costumers is huge based on the relevant statistics; there is an indispensable need for monitoring health care indicators based on relevant statistics; the solutions have several competitive advantages over the competitors.
2. Descriptive System Information:
Results: The devices form a coherent and highly innovative system; the planned manufacturing and servicing system comprises four key categories: Technology company, Corporate group centre, Regional brand offices, Digital Marketing Platform.
3. Legal and organisational structure of the innovation system:
Results: A rapidly developing company can be built on the organisational structure and the management of the enterprise; the main aspects of ethical issues, industrial law and data protection have been identified.
4. Marketing plan:
Results: There are four pillars of evolving a brand family; the brand strategy is based on a main message of the solutions: security of life; the three fundamental brand values are: reliability, individually customisation and professionalism; there are two planned stages of service market launch. The target markets, the forecasted sales volumes, the marketing mix and the business development milestones have been elaborated.
5. Work Plan:
Results: The necessary tasks, objectives and deliverables of the project improvement have been defined and elaborated.
6. Business Plan:
Results: The issues related to international market entry have been discussed; the expected revenues and expenses have been calculated and the profitability indicators have been counted.
As a result of pursuing focused research and development (R&D) activities for several years, Atractor Ltd. now makes advances to enter the market with a state-of-the-art, novel concept product family.
The CardiaCom program is compatible with the initiatives of the e-Health Action Plan, and directly supports the implementation of several objectives. The dissemination of the innovation may give a significant contribution to the improvement of CVD mortality indicators and the rate of years spent in good health / living with some disease, the reduction of days spent in hospital and in rehabilitation, the reduction of the number and cost of hospital interventions, the better utilisation of cardiologist knowledge. In addition to increase work abilities, its positive effect may appear through the better appreciation of health care services and an improved sense of safe well-being. By virtue of its sport-positioned, professional diagnostic services it can play an important role in the screening of the endangered male population reluctant to seek out medical investigation.