Tech Transfer to a Successful
New Business
FidVentures' clients were inventors from an academic institution with intellectual property seeking to create a business. FidVentures, acting as the entrepreneurial in-residence, created a structure to rapidly validate, refine, and build a new business. The outcome was to create a new startup that received funding.
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Situation
The inventors invented a solution based on their experiences working with hospitals and AI academia professors that had the potential to be an early warning tool for timely intervention. However, they did not have a structure, top-level expertise with startup experience, or a process to take their invention and create a successfully funded business.
Our Approach
FidVentures has developed a playbook for rapidly validating, refining, and building a new business to secure funding. This approach is hands-on, guiding the founders not only from ideation but also by providing support in other functions such as talent, finance, regulatory, legal, and strategic relationships. The process doesn't stop with market-validated ideas, business cases, enablers, and minimum viable products but continues to secure funding. This proven approach is called "Machine for Growth."
Our Recommendations
FidVentures began by surveying 550 clinicians to understand their unmet needs. We then interviewed 30+ key opinion leaders, users, and consumers to evaluate the market and test the minimal viable product, value proposition, and customer segments. Following this thorough investigation, which included generating intellectual property, legal and regulatory assessments, proof of concepts with viable technology stacks, and pressure-testing business cases, we provided founders with a fact-based game plan and storytelling necessary for funding. It's important to note that we also pivoted and discarded ideas along the way, which is crucial in creating a successful growth strategy.
The Results
FidVentures has developed a Machine for Growth plan for the founders and surrounded it with expertise to transform ideas and intellectual property into a business, which received grants, seed, and Series A funding.
