Question1
A) The EndoNav value proposition in OTS product are
- Improving Ease of use: Simplify the navigation and reduce the force required to move the scope through the intestine.
- Eliminating and Reducing Sedation: Device remove sedation and in some cases if it could not remove but reduce the sedation. That will reduce not only the complications but also the cost associated with the procedure.
- The device will make easy to learn the procedure. In comparison to the conventional device that takes up to 1,000 procedures before make the physician proficient.
- Improve the Throughput of the procedure.
- Reduce the time of difficult procedures that will help health centers manage their variability easily.
B) EndoNav has not many competitors rather it has no competitor who is offering that kind of device. Since OTS devices reduce the risk associated with the procedure that will help EndoNav in getting Regulatory approval. EndoNav has a target market of teaching hospitals, where barriers to entry are very low, where getting a feedback is easy. EndoNav also planned to target HMO’S, who are early adopters of new technology.
C) As far as fund raising strategy is concerned they need to focus on Pitching first then go for business plan. They should reduce the time-to-market span. They need to focus on bootstrapping the finances required to get in to the market. So that they can go to angels rather then VCs. EndoNav need changes in its investor presentation in different aspects. One is It should not put too much information in the presentation. Don’t put too much technical details in the presentation. EndoNav needs to follow 10/20/30 rule. Means ten slides, Twenty minutes and 30 point font. EndoNav should ensure that the plan is properly integrated with the real-world knowledge, with less jargons and list