On this page you will find information about how we would like to implement our product into the world. We have completed the different models discussed from the page about “entrepreneurship” to get better understanding of the potential of our company. For a more detailed description of the models and our thoughts have we created a business plan.
Current medical treatment for depression has proven inadequate for a third of the patients suffering from moderate to severe depression. This phenomenon has been named treatment-resistant depression. Furthermore, depression has steadily increased over the last few years, with more significant spikes following periods of prolonged isolation during the COVID-19 pandemic. This has increased the international demand for better psychiatric treatments.
Newer treatment modalities using psychedelic drugs have been suggested as a potential way to treat all types of depression and multiple other mental health disorders such as post-traumatic stress disorder, generalized anxiety, and stress-induced symptoms. One such psychedelic drug is psilocybin, an active compound found in multiple fungi with fragile addictive properties but highly effective and prolonged therapeutic effect.
Current manufacturing of psilocybin is expensive and is performed either through a purification protocol or through production in yeast. With the production of psilocybin through E. coli using tryptophane, we aim to make it considerably cheaper to produce and manufacture psilocybin and related psilocybin-based medicine to treat depression
Our company will start with seven people in total because we will start as a small business and will only need a small staff. The organizational structure of the team will look like the following illustration, later expansion of the company will result in more staff.
Here is a walkthrough of different models used to create our business plan.
Business Model Canvas (BMC)
BMC, short for business model canvas, is a helpful model to visualize the building blocks needed to start a company. This has been a useful model that gives a good overall idea of our company’s values, purpose in the market, and what the company needs to get started.
The model indicates a promising start for our business and that the company should be able to expand in the near future if the demand for our product is high enough.
The PEST analysis is a model meant for identifying factors that might be subject to change in our business's Political, Economic, Socio-cultural, and Technological spheres.
We have identified the potential opportunity and threat factors that could influence the four domains in areas that would affect our business model in the future. This has provided us with an overview of what changes we need to be aware of during the manufacturing of psilocybin in the years to come.
Porters Five Forces Model
The aim of Porter's Five Forces is to determine the branch-specific threats companies face from competitors, suppliers, customers, and substituting product lines. We use this to create an overall picture of the market surrounding psilocybin production, and the current competition.
From the analysis of our market using Porter's five forces, we determined that our company would be one of the few big competitors in this branch-specific market. Likewise, our product would be a strong competitor in the market, with our comparatively low price and clean product.
Value Chain Model (VCM)
The aim of using the value chain analysis is to find the overall competitiveness of this company. This model also includes different values for the company, like further education of the staff members and constant development of the technology in use.
Our values are to educate our staff members and make it attractive to stay in the company to further develop the technology used in the bioreactor. This will ensure optimization of the synthesis of psilocybin.
The SWOT model aims to sum up our company’s internal and external strengths/ weaknesses and the possibilities and threats concerning the market that the company is entering.
The model shows promising results since the company has already overcome the problem with the key enzymes needed to produce psilocybin cheaper. This is done by modifying the key enzymes so that the E. coli bacteria can produce psilocybin with a more inexpensive substrate, which is tryptophan.
Detailed Business Plan
Provided below is the detailed and extensive version of our business plan.