ABseeCo. Ltd. has developed a new software product to manage patient outcomes and recovery from various medical conditions. The software will be cloud-based and patients can access the software tools and resources from an app on their smartphone.
The software will provide patients with an opportunity to provide key information about their recovery to doctors and the medical team who can then monitor/review progress during the recovery period.
The total market is valued at $2.0 billion and it is expected that ABseeCo. Ltd. as a startup, can gain a significant percentage of the ‘early mover’ target market valued at $300m.
Key influencers and ‘players’ in the target market are the following:
1.Medical teams, which include hospital doctors, occupational therapists, and mental health specialists
2.Health insurance companies
3.Hospital management teams
4.Government bodies responsible for the health
5.Patients’ own doctors (locally-based, general practitioners)
The ABseeCo. Ltd founders and team comprise a group of 6 experienced professionals in the areas of software development, marketing, sales, healthcare sector, and general business management. The team also has access to advisers/mentors from the medical sector, who have advised the team on strategy during the product and market development process.
The company has secured $500,000.00 to date in startup funding to develop the product, which has been tested with a small group of clinicians and patients to date. The overall feedback from these trials is that more work needs to be completed at a technical level, particularly from a usability perspective. In addition, the revenue models differ from one region to the next and this has to be factored into the business model and future iterations of the product.
To achieve the above milestones, it is expected that the company will require an additional $ 3M in funding.
Read carefully and analyze the given case study about the startup ABseeCo. Ltd.
Based on the given case, do the following:
Create the business model canvas for ABseeCo. Ltd. put the answer on the chart like in the picture images i attached.
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