Lab 1: “Needs Identification”
- Introduce the Fundability Worksheet from Medicoventures.
- Identify an existing health care issue.
- Report on the impact of the issue on society (why it’s important)
- Review current solutions to the chosen health care issue.
- Describe advantages/disadvantages to each current solution. Identify the unmet needs (financial, technological, etc.)
- Score relevant portions of the fundability worksheet (on Blackboard): Market Size, Competitors, and IP Position”
Cite appropriately all resources used in completing this analysis.
1. Describe the health care issue you will develop a solution for. Please include the pathology.
2. Competitors: List current solutions for this health care issue. Create a column for each of the following:
a. Advantages (with reference to other solutions)
b. Disadvantages (with reference to other solutions and the ideal solution):Include unmet needs and categorize (financial, technological, etc.)
3. Customer Validation: Consider the interest in your product from the perspective of:
4. IP Position: Complete chart in Fundability Worksheet on Blackboard.
5. Using the information you have compiled, score the above portions of the fundability worksheet.
b. Customer Validation
c. IP Position
Resources on Blackboard:
- How to cite different resources
- How to use Boolean Operators to improve searches on Google and Google Scholar
- How to search for News Articles on Lexis Nexis
- Understanding and searching for Patents
- How to find peer-reviewed journal articles
HW: Lab Report 1 (due 09/06/16 at 11:59 PM through OpenWetWare)
10 points – Health Care Issue
10 points – Competitors
10 points – Customer Validation
10 points – IP Position
10 points – Fundability Scores for Competitors, Customer Validation, and IP Position
50 points – Peer Assessment
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