In conjunction with our partners Pilot Lite Ventures (PLV), we undertook a proprietary ‘Venture Validation’ process to understand whether the proposed new venture was viable, valuable and financeable to start the process of commercialising the venture. This involved a number of workshops with the clinicians and managers in HSS on a variety of topics including the value proposition for the venture, the governance model and commercial issues such as revenue share between the inventors and the organisation. This was supplemented by individual interviews with key stakeholders.
Combined with market analysis, research and financial modelling activities, we were able to produce a series of validated business opportunities for consideration, an investment grade business case for the proposed venture and a ‘Go to Market’ plan to enable the piloting of the product and launch of the new venture.
Through the work of our team on the ground, we were able to help HSS develop a compelling value proposition that was significantly further advanced than their initial thinking prior to our engagement. This ‘venture creation’ element of our work added particular value to the HSS team in developing an end to end service offering that is clearly differentiated from others in the market.
Combined with the robust business case and launch plan from our engagement, HSS are now considering at Board level their next steps in taking forward this proposed venture.