- Identify any gaps in your business case and evaluate the risk areas
- Help you to create a business model that will stand-up to the scrutiny of potential investors, partners and customers
- Steer your business in the right direction; reducing risk, time and cost
DEVELOP is a 12 week long programme, a combination of group workshops and 1 to 1 coaching with a limited number of companies on the programme at one time. The application process is competitive and companies will be offered a place based on their suitability for the programme.
The DEVELOP programme is highly practical. It is not a theoretical course of lectures. Our goal, within the constraint of limited time, is to help you discover a profitable, scalable and repeatable business model for your company. This will allow you to build a company with substantially less money and in a shorter amount of time than using traditional methods.
The DEVELOP programme is based around the Lean Start Up methodology and utilises a set of highly effective tools and processes specifically tailored to the healthcare and life sciences industry. Rather than engaging in months of business planning, the method assumes that all you have is a series of untested hypotheses – basically, good guesses – about the product’s utility, who the customer is, who will pay for the product, regulatory requirements, IP, clinical trial needs and objectives, etc. The method also assumes that however elegant your existing business plan (if any), the reality is that most of it is wrong.
You need to get out of the building to search for the facts that validate or invalidate your hypotheses, and enable you to pursue strategies that will accelerate the launch and development of your business.
Your development on the programme will be linked to the amount of time you can dedicate. However, as a minimum, participants must able to spend half day a week at the host site in the workshops and as much time as possible outside of the workshops interviewing potential customers, end users, suppliers, partners, regulatory bodies etc.
Places on the DEVELOP programme are limited and you will be required to attend a short interview at MediCity Scotland prior to being offered a place.
The very best DEVELOP opportunities will be invited to progress directly to Stage 2 - LAUNCH programme, for investment preparation. Those that show promise but require further work may be eligible for some immediate funding (up to £50k as a convertible loan) to help them reach the level from which they can progress to LAUNCH.