Needs of Global Start-up companies (Deliverable 2) GlobalStart wp1 Studies Deliverable 2 Needs of Global Start-up Companies Table of contents p


Preparing prototype for production



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Preparing prototype for production


Near future

Business concept

  • Plan

  • Objectives




Commercialization of state-of-the-art medical devices for testing human muscle parameters.

Same.


Same.

Same.

Technology platform


Production mode
Market (industry, customer, competitors)

The technology originates from the University of Tartu where Dr. Vain founded a research group already in early 80s.
No production, but development, testing of prototype (at the University), designing

Customer is defined very wide. No competitors



Testing technology in research institutions&clinics to improve diagnosis accuracy, to determine the efficient treatment of injuries and diseases (sport medicine, occupational health). Patents

First design and technological development outsourced from Estonian companies. No regular production.

Wide definition of the customer


Technology is upgraded in cooperation with Estonian companies; the final prototype became more user-friendly.

Looking for potential production companies.


Narrowing market focus: occupational health, prevention of diseases



The results of research enable adaptation of the technology to the needs of a customer

Expecting problems with finding Estonian companies, that can produce electronic medical devices, that would match requirements of international customers


Occupational health is a starting market for the company, then rehabilitation and sport medicine can be tested

Finance

  • Source and

  • Use of capital


Tartu University

Estonian Innovation Fund: two grants for product design and development, Σ ~ 450 000 EEK

Research grants from several USSR universities and clinics


Estonian Innovation Fund ca. 800 000 EEK during the few year period.
Bank loan

Venture capital funds of 300 000 EEK.
Entreprise Estonia grant

Enterprise Estonia, ca 1,5 million EEK.

People

  • Management,

  • Other employees




Dr. Vain did not have a permanent team, worked mostly alone on the product.

Founded by solely dr. Vain, then 2 more people employed.

Permanent employees: 3 people
Short-term working contracts (2-6 months) for technological development, specialist’s consulting etc.

20 employees both full time and contracted.

Partners/ Network

  • Purpose

  • Advantages

  • Mode of cooperation

Dr. Vain contacts from the academic world to test and develop the product: University of Tartu, Finnish and USSR universities.

Communication with clinics in Finland and Estonia to introduce the product



Cooperative research with Finnish universities, clinics.

Contacts with Estonian clinics, Patent Office at the University.


Awareness of the company by publishing articles in the journals.

Medicine exhibition in Düsseldorf. Establishment and reinforcement of customer and distribution relationship.
Joint research with Finnish, Lithuania Universities

Research institutes

Venture capitalists


Internationalization

Know-how/technology


From the beginning Myoton could build on the expertise of international calibre from research at Tartu University, with Dr. Vain. He is one of the leading authorities in the field of muscle testing. There was no possibility for deeper collaboration with other international research centres.

Market


The company could establish their first customer relationships due to the Dr. Vain extensive relationship network. Of approximately 15 delivered prototypes, 10 were aimed at international market, while 5 were aimed at the Estonian market. The international clients are mainly in the Baltic States, and Finland. As the marketing/sales organization was established, the main focus will be to work with existing customers and distributors and to gain new ones. The target is to sell approximately 500 product units to them in the coming 1-2 years. Another important task as mentioned previously is to educate distributors about the product with all its benefits, so that they may devote more time for it.
Through the internationalisation process, the company has faced multiple problems, starting from choice of suitable information sources, and finishing with the decisions about the right approach to the client.

Staff


The company’s employees, including sales force are expected to be Estonian.

TTO support


EAS (Estonian Business Support Agency) has supported implementation of Myoton’s export plan. The managers of the company were satisfied with the EAS support, the only comment was about time costs: it took unexpectedly long time before the support was actually received. The University has helped the company through the Marie Curie programme, which helped the company to establish business contacts in the Netherlands. The company would be glad to get product-specialized consulting from TTOs, but since the product is innovative, it is unlikely to expect such service.

Evaluation of TTO support


The company used support of Enterprise Estonia


Asper Biotech Ltd

Spin-off from the University of Tartu


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