Where can a Blood Fluidics Technology be applied and who decides its use?

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Illuminating The Future

The SearchLite

Functional Fluidics

Customer Discovery Challenge - Case Study

A Product Market Fit and Industry Ecosystem Profile type of customer discovery challenge was conducted for Functional Fluidics to identify the customer segment that will benefit most from this technology and understand the Industry Component that contributes to technology adoption. The following case study summarizes the process followed and outcomes achieved.

Summary


“ The SearchLite identified several customer segments that we had not considered. In a couple of cases, they also drilled down to uncover insights relative to industry practices that are relevant to new product commercialization. - Dr. Patrick Hines, Founder at Functional Fluidics snapshot o the potential customer application landscape to facilitate the process of customer discovery.


• Functional Fluidics is developing novel devices and protocols to address the need for measuring thrombosis and adhesion formation in whole blood under pulsatile flow.

• Functional Fluidics’ assay can assess the behavior of blood while it is flowing, and mimics in vivo behavior while currently available tests use in vitro methods.

• The system uses micro-fluidics to analyze whole blood adhesion and thrombosis and is a much better predictor of blood behavior physiologically.

www.functionalfluidics.com

Introduction


How to identify the right Customer Segment?

• Functional Fluidics was interested in using The SearchLite’s knowledge gathering services to understand potential field applications as well as the Industry Ecosystem for this technology

• The inventor team wanted to look beyond indications including:

•Atrial fibrillation (AF)

•Deep vein thrombosis (DVT)

•Sickle cell anemia (SCA).

The SearchLite suggested a hybrid challenge to identify potential Customer Segments and the Industry ecosystem


The SearchLite Process

•The SearchLite is a Community-Based Market Discovery & Validation Platform.

•We connect inventors and technologies with matching Customer Segments, their Industry Ecosystem profiles and Technology Adoption dynamics.

•Our Customer Discovery Challenges reduce market risk for early-stage technologies by identifying Product-Market Fit.

The SearchLite platform brings Inventors,

Innovators and Entrepreneurs together in

one place to discover Customer Segment

Profiles using competitions called

Customer Discovery Challenges.

Product-Market Fit

Industry Ecosystem

Tech Adoption Dynamics


Product-Market Fit: A Level 1 Customer Discovery Challenge

Inputs

• Secondary Research

• Community Discussion

Outputs

• Customer Segment Profiles

• Relative Market Sizing

• Limited Prior Art

Timeline

• Planning = 2 Weeks

• Facilitation = 2 Weeks


Industry Ecosystem: A Level 2 Customer Discovery Challenge

Community • Innovators-in-Residence • Mentors-in-Residence • Industry Knowledge Experts

Inputs • Secondary Research • Community Discussion • Limited Primary Research

Outputs • Industry Ecosystem Insights • List of Key Contacts • Secondary Research Reports

Timeline • Planning = 3 Weeks • Facilitation = 3 Weeks


• Five Customer Segment Profiles were submitted and shaped by eight Community Members

• Participants commented and voted on alternative Customer Segments as to their match with the Functional Fluidics Technology Benefits and Value Proposition.

• “Telemedicine” was voted as the most promising Customer Segment for further investigation.

• The Outputs included:

• Primary Research with KOL insights

• Secondary Research with industry articles and presentations

• Actionable Next steps and Recommendations

.

Industry Ecosystem Analysis: Outputs


• Over ten days in January, 2014, our Innovators in Residence and Mentors in Residence participated engaged on The SearchLite’s online community platform to propose Customer Segment profiles.

• For example: two of our IIR’s – Wendy Tay and Visha Krishnan responded with secondary research and supporting links

• Visha Krishnan: “Given the ability of the functional fluidic device to test beyond thrombrosis, it might be a better product for hematological analyses.”

.

Industry Ecosystem Analysis: Community Engagement


Functional Fluidics – The Results

Drill down for insights … only where it adds value


Recommended Next Steps:

Technology Adoption Dynamics CDC

Community • Mentors-in-Residence • Industry Knowledge Experts • Subject Matter Experts

Inputs • Secondary Research • Primary Research • Synthesis & Analysis

Outputs • Technology Adoption Insights • Key Recommendations • S-Curve Revenue Estimate

Timeline • Planning = 4 Weeks • Facilitation = 4 Weeks


The SearchLite is an online community based market discovery and validation platform that identifies path to market for new technologies. Our Customer Discovery Challenges reduce market risk of new technologies by quantifying product-market fit, mapping the industry ecosystem and providing technology adoption dynamics for new technologies in any stage of

development.

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Where can a Blood Fluidics Technology be applied and who decides its use?

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