Product Commercialization Planning Support
The biosciences industry creates breakthrough products and technologies on a daily basis. But it’s not easy to get from idea to market. We understand the development of a new biosciences product or platform is an evolutionary process. To that end, it isn't enough to have a first-in class product or disruptive technology, but what is essential is a firm and well-articulated path to commercialization. Product development planning is more than laying out key milestones...it’s detailing the many steps in between, identifying critical gaps and harnessing the necessary expertise to help you along the way.
This is where Emerging Biz Solutions can help. Companies can apply for services to support product development planning through a two-step process – an initial Commercial Due Diligence screen, followed by a full Commercial Due Diligence assessment for those that qualify, as noted below. MichBio has partnered with Pharmacision who will serve as the primary reviewing and assessment consultant for the product development planning service. We hope to secure applications from 5-10 companies to undergo screening and qualify 2-3 companies for full commercial opportunity assessments.
Commercial Due Diligence. Qualified companies will submit to a business plan review, profiling and functional needs analysis, and market opportunity assessment, as needed. They would then undergo commercial opportunity due diligence.
Deliverables to companies may include:
- commercial opportunity assessments of product market viability
- guidance on ways to improve probability of future profitability and commercial success
- internal company needs assessments to identify gaps or opportunities
- training and business planning recommendations
- identification of resources and relevant industry introductions
- qualification for additional funding and commercialization support.
Due diligence in this phase will enable companies to develop roadmaps for making "course corrections” to ensure commercial success.
Ultimately, Emerging Biz Solutions plans to roll out an advanced level of New Product and Commercialization Planning support. New product planning services will include evaluation of pricing opportunities and demand expectations, market testing product profiles, market modeling, forecasting and budgeting, and generation of product development roadmaps to align clinical, regulatory and commercial strategies. There will be a heavy reliance on 3rd-party service providers and select work with specialists that have expertise in the biosciences arena.
Additional Emerging Biz Solutions resources:
Business Partnering & Development Support
Buisness Intelligence & Educational Resources
Michigan Bioscience Technologies Entrepreneurial Boot Camps
For form submission or for general questions, contact David McGuire, Project Manager and Director of Membership & Operations, at firstname.lastname@example.org or (734) 527-9150.