This approach enables partners to give critical input and feedback at an early stage of project development. BIO-X industrial partners will:
- Collaborate in commercially-viable projects, selected and run to industry standards
- Have right of first refusal to invest further
- Gain opportunities to expand their product development portfolio
- Reduce their financial risks
BIO-X project partners can be confident that all projects benefit from clear objectives, include business assessment activities, and are focused on fulfilling defined market/society needs.
Input from potential future customers
That proposals accepted by BIO-X meet defined needs is ensured by assigning at least one clinically-active person to every individual project. As healthcare representatives of BIO-X, and as potential future customers and end-users, this also gives them the opportunity to influence project form and direction. Examples of such input can relate to the need for pre-clinical or clinical trials, clinical benefits and cost effectiveness of future products, patient safety, ergonomics, etc.
Together with a dedicated BIO-X coach, project partners from industry and healthcare continue to contribute their knowledge and experience throughout the two-year BIO-X process, bringing mutual benefits to the project.
This ensures a high quality, well-structured project plan plus a well-documented, fully-transparent technical and commercial study addressing real-life healthcare problems and needs. In other words, an attractive investment opportunity.