Team:NTU-Singapore/Entrepreneurship

Download our Business Plan Here

While lots of work goes into the research and development behind our project, making casCADE a marketable product requires a solid business plan, so that it can be accessed by as many people as possible and make a real difference in healthcare.

Vision

Developing integrated probe based diagnostic tools to facilitate early detection of diseases and accurate testing of viral infections.

Mission

1

Integrate state-of-the-art genetic engineering technologies with tertiary data processing tools to offer unparalleled user experience to patients.

2

Bridge the gap between scientific research and market ready products in the field of probe based diagnostic assays.

3

Ensuring equitable and sustainable distribution of testing kits around the world by introducing outreach channels to remote areas in developing countries.

4

Generating awareness and education in order to foster trust in the science behind the upcoming diagnostic tools.

Business Model Canvas

Click the following menu items to learn more about the Strengths and Weaknesses of our company, as well as the Opportunities and Threats which we have identified in the market.

Strengths Weaknesses Opportunities Threats

Strengths

• Our line of products are user friendly and offer high accuracy results to our users.
• Our company sets up a personal connection with our target audience and sets up channels of communication to welcome all suggestions from users.
• Our products have gone through multiple levels of safety assessment and have been thoroughly researched under the guidance of distinguished professors and researchers of Nanyang Technological University, Singapore.
• The team is composed of passionate students and experienced researchers which reflect a promise of a highly efficient and hardworking workplace environment
• Our products are B2C (Business to Consumer) and products of similar application have been in high demand.

Weaknesses

• All components of the kit must match biological and pharmaceutical high standards which makes procurement of materials expensive.
• Our company hasn’t been established yet and therefore we have yet to form a brand image and get trust from the target audience.
• Currently, we are a small organisation backed by Nanyang Technological University and we have not approached any business partners for an investment in us.
• We have not figured out our mode of mass production and have yet to sign a contract with future manufacturing partners.

Opportunities

• Imminent necessity of providing rapid testing kits for COVID-19 globally.
• As more countries start treating COVID-19 as an endemic rather than pandemic, the focus will shift from vaccines and safe distancing tools to rapid testing kits and therapeutics.
• Scope of diagnostic kits for STI, tuberculosis, etc detection by modifying the same technology.
• A lot of research organisations are focusing more towards synthetic biology, which will result in development of better technology over the years that can be adapted onto our line of products.

Threats

• Inability to source for funding for the current project as biological research based products bleed through a lot of money initially.
• Different government regulations and policies of countries make equitable distribution and affordable pricing challenging.
• Brand image and trust of consumers is dependent on a lot of variable factors and can lead to unsatisfactory market response despite scientific proof of concept.
• Competitors are mostly subsidiaries of big pharmaceutical companies with deep pockets and well established pedigree which can pose a direct threat.
• Logistical difficulties of importing raw materials and exporting products