Team:TAS Taipei/Entrepreneurship
HP Gold
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 |
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.
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