Team:TAS Taipei/Entrepreneurship

Entrepreneurship - TAS Taipei iGEM Wiki





Entrepreneurship

Survey


Based on our survey given to our school community and citizens of Taipei, we discovered that cost of cataract surgery, whether performed in humans or in pets, was a source of concern. Many people said that if there was a safe, affordable option to surgery, that they would prefer that option. With this information in mind, we ran a cost analysis to ensure that our solution would be affordable.

Counteracts Marketing Plan

With the help of our business and economics teacher, we developed a comprehensive marketing plan for our cataracts prevention and treatment products, in order to create a more profound impact in terms of public awareness of Cataracts. Within this plan we performed a situational analysis based on market research, customer analysis, environmental/industrial considerations, and regulatory constraints (such as quality control and SWOT analysis). Furthermore, we statistically analyzed our products’ viability in the market by developing pricing and promotional strategies. Upon completion, we initiated discussions with several biotechnology investors and published our plan on business starter websites to garner interest.



Marketing Plan Synopsis

There exists a significant market opportunity for cataracts treatment worldwide. Over 3 million cataract surgeries are performed in the United States every year, and cataracts have attributes to 51% of world blindness. Although cataracts surgery is the dominant procedure in this market, we have developed technology which provides distinctive advantages, and created a marketing plan which serves as a guide for establishing a successful business.


Marketing Plan Approach

The total material cost of a 3 month supply is $7.88. 1 bottle contains 200 drops and can be used for both eyes for 3 months. 1 bottle contains 4.2 mg of proteins encapsulated in nanoparticles. Accounting for the protein encapsulation efficiency (72%) of our nanoparticles, we determined that we need to grow 160 mL of liquid culture in order to produce each bottle. Below is the material costs for making 1 bottle of our Counteracts eye drop.



Material Unit Price (NTD) Amount Needed Cost (NTD) Cost (USD)
LB (LBL407) 1000 g 2700 4 g 15.56 0.50
Ampicillin Sigma Aldrich 5 g 3300 0.00016 g 1.52 0.05
Histag Column 1 column purifies 2000 mg protein 1581 5.761 mg 62.66 1.99
Xtractor buffer 500 mL 8280 6.4 mL 105.98 3.37
Wash buffer 500 mL 5041 2 mL 20.17 0.64
Elution buffer 250 mL 4931 2 mL 39.45 1.26
Sodium Tripolyphosphate 500 g 350 20 mg 0.01 0.00
Chitosan 250 g 6420 60 mg 1.54 0.05
Acetic Acid 500 mL 300 200 uL 0.12 0.00
Sodium Hydroxide 500 g 600 0.4 g 0.48 0.02
$247.48 $7.88

Alexander Kaufman, former intern at RA Capital

Additionally, Mr. Alexander Kaufman, a former intern at RA Capital (a biotechnology investment firm), provided constructive feedback on our business plan. He suggested that we focus on long term cost projections, for it would put us in a better position to engage with venture capitalists. He also thought that our competitor analysis and initial market sizing was impressive. Furthermore, this plan was shown to Dr. Tai-Yuan Wang and he suggested that with an FDA approval and clinical trials, he would be interested in our products. Thus,we can conclude our products have the potential to compete in market.






Prevention

GSR Eyedrop

Treatment

25HC Eyedrop

LOCS: 0      


Eyedrops




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