Validating biotech opportunities
University of Tasmania
● OVERVIEW
Validating early-stage healthcare innovations is risky, with potentially long timelines and high costs. Our rapid opportunity assessments helped the University of Tasmania (UTAS) quickly identify research with commercial potential, cutting through uncertainty. Pairing this with commercialisation assessments clarifies market pathways, technical and funding needs, and empowers the University to act decisively: optimising the support to its researchers and improving the overall impact of its Research and Development capability.
● THE CHALLENGE
Within real-time health management, the potential for wearables to save lives and improve patient outcomes is currently constrained by the interface with the wearer. Microneedles and microfluidics offer an innovative opportunity to substantially elevate the value of wearable biosensors in healthcare. However, their adoption remains constrained due to challenges in their fabrication and integration onto a sensor.
The University of Tasmania’s (UTAS) Material Technology produces world-leading material sciences research and innovation. With UTAS researchers developing potential breakthroughs in microneedle and microfluidic biosensor applications, they sought to validate three potential real-world applications using a structured innovation and commercialisation assessment.
● THE PROJECT
TGD was engaged to conduct a rapid opportunity assessment for UTAS’s potential high-value, high-health impact biosensor inventions, collaborating with the lead researchers, 3D printers and select leading health applications.
Following our rapid validation process, we combined several analytical frameworks including the Technology Readiness Level assessment to create a clear picture of the innovation’s likely commercialisation challenges and opportunities. Our process is specifically designed to support and educate the researchers on lean startup principles and begin to prepare them for venture building.
● TOGETHER WE:
Engaged researchers and advanced health practitioners and organisations to validate the opportunity and market readiness for adoption
Conducted a Technology Readiness assessment, identifying key technical barriers in 3D printing and scalable production for three health applications
Recommended a product development roadmap for high-value, high-impact applications, while reflecting manufacturing capabilities and routes to market
● THE RESULT
Within weeks we had reached out to some of the world’s leading biosensor-based health brands and 3D printing manufacturers to help validate three core applications for UTAS. This helped the University and its researchers to validate the size of the opportunity, identify and prioritise manufacturing challenges for microfluidics and microneedles, gauge a likely time to market, and engage potential early adopters.
With clarity around the opportunity, UTAS can focus its commercialisation and venture-building efforts for maximum effect.
3
Strategic opportunities validated in under 3 weeks
1
High level technology-led commercialisation roadmap
100%
client satisfaction rate
● THE FUTURE
Our process of engaging external stakeholders promoted UTAS’ material technology innovation within the advanced health sector and helped researchers prioritise commercialisation tasks, improve their product-market fit and prepare them for future startup operations and fundraising.
● WHAT WE DELIVERED
Stakeholder interviews
Rapid opportunity validation
Technology Readiness Level Assessment
Early stage concept commercialisation roadmap and advice
