Problem exploration for creating value propositions when developing point-of-care solutions

Area of Science:

• Biomedical Engineering
• Diagnostics Technology
• Technology Commercialization

Background:

• Point-of-care (POC) testing offers rapid diagnostics but faces commercialization challenges from academic research.
• Academic spin-offs often fail due to poorly defined value propositions for biosensor devices.
• Translating technical biosensor features into market-ready solutions requires understanding diagnostic process gaps.

Purpose of the Study:

• To investigate how university teams explore problems to create compelling value propositions for POC biosensor testing solutions.
• To identify factors influencing the commercial viability of biosensing technologies developed by academic teams.
• To understand the role of problem exploration strategies in translating academic biosensor research into successful commercial ventures.

Main Methods:

• A qualitative case study research design was employed.
• Eleven university student teams participating in the SensUs contest were studied.
• Analysis focused on teams' problem exploration approaches and their impact on commercial viability.

Main Results:

• Broader problem exploration (wider range of issues and stakeholders) and interconnected problem framing led to more commercially viable biosensing solutions.
• Teams actively seeking direct feedback from market experts produced more commercially viable projects compared to those relying solely on technical experts.
• Effective value proposition development for POC testing hinges on comprehensive problem understanding and market engagement.

Conclusions:

• Academic spin-offs developing POC biosensors benefit from a holistic approach to problem exploration, considering diverse stakeholder needs and interconnected challenges.
• Integrating market expert feedback early in the development process significantly enhances the commercial potential of biosensing innovations.
• Strategic problem exploration and market-focused feedback are key determinants for the successful commercialization of academic biosensor research.