My new project offers an exciting change of pace and is my first foray into the exciting (and complicated) field of medical devices. Several of my fellow TI:GER students have been working with a variety of medical device projects over the past year and a half and I'm glad to finally get a chance to do some work in this field. With the added wrinkle of FDA approval and increasing legal regulations, this market should prove to be challenging but very rewarding to work in.
I'm heading up the market entry plan aspects of the project. The start-up has several potential markets to enter first and selecting which market is critical to the widespread adoption of the technology. Some markets are more fragmented, some are more centralized. Some are large but broad, others are smaller and narrower in focus. Some have high barriers to entry, some are lower.
Hopefully through our teams research, we will be able to guide our company towards the market that will allow quick penetration and return on their investment. We know the best way to go about this research will involve getting out of the building and start interviewing some key stakeholders within each potential market. I hope to use my past experiences in the program to make this last consulting project run smoothly and provide more actionable results!
All in all, I'm very excited about my new team and our new project. I've already been exposed to several emerging markets through the TI:GER program and am glad to add another to that list.