Covid-19 has put a pause button on the world economy, but in Switzerland the enthusiasm for entrepreneurial projects has not been dampened. This year, Benoit Leleux, Professor of our Entrepreneurship Stream, provided us with a choice of 20 high-quality and selective startup projects. These covered MedTech, Consumer Electronics, IT, Luxury and Hi-Tech, and some have been ranked as the most promising startups in Switzerland.
Although none of our team members have relevant technical expertise in medical technology, we are very excited about diving deeper into a MedTech project. After expressing our expectations in this project, the CEO warmly invited us for a company visit. The partner also gave us a comprehensive overview of the company background, financing situation, team structure, product development and its future roadmap. We quickly realized the potential explosive power brewing in this small MedTech industry startup!
Even though there is a bright future, the founding team is still considering different positioning options for their product. During the meeting, many questions popped up. How to accurately position the product to attract customers and investors? How to establish effective competitive barriers in homogeneous competition? Should companies focus on marketing the existing product, or should they innovate and develop new game-changing products? We were very excited to be able to bring some new ideas and a fresh perspective through a fruitful discussion.
After the meeting, our team organized several brainstorming sessions. Our aim was to generate high-level ideas and solutions which would address their concerns. As outsiders, unfamiliar with the industry, we found this first week very insightful and challenging.
The MedTech project is a new start for our group. We are highly motivated by the company’s passion to provide a solution for a better life for people and outstanding insights into the MedTech industry. The firm belief of the startup in their five years’ plan is inspiring us to propose creative and constructive ideas for the future.
We are looking forward to creating some new sparks in the coming three months.
Chao Yang and the rest of my team: Jessica Ellen Roberts, Antonio González Hijas, Matija Milotič, and Graciana Khoury