Working with a McGill Neurotech Lab by collaborating on the preparation of their Business Model / Business Plan
Context
A McGill Research Lab came to NTX Services with a technological innovation/ algorithm related to fatigue risk and wanted to understand how to structure a business around it
Deliverables
NTX Services initiated the preparation of the Lab’s Business Model and Business Plan by:
- Defining the Value Proposition
- Establishing the solution(s) the Lab could offer
- Proving potential Revenue Models based on preliminary pricing levels
- Mapping the market/competitors
- Identifying potential client industries based on optimal product market/fit based on solution provided and key regulatory factors
Impact & Next Steps
The lab was happy with the work NTX Services did and is now adapting itself to the recommendations provided especially with regards to the solution levels and with industries targeted. NTX Services will continue to actively work with the Lab as it structures its business further, namely looking at Go-To-Market Strategy, Financial Planning and eventually, Fundraising.