Opportunities for Biotechnology Startups Targeting the Healthcare Industry

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Examensarbete för masterexamen
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2021
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Ramberg, Frej
Lewin, Christoffer
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The healthcare market is dominated by a few key players that are well established and tough for smaller companies to compete with. In addition, healthcare institutions follow strong regulatory processes and are often reluctant to take risks. This creates difficulties for a startup to become a supplier to healthcare institutions even if the product meets all regulatory requirements. Startups generally only have one valuable asset that is their entrepreneurial idea. This can lead to a success story, but it often ends in failure. The purpose of this research was to examine how a startup can navigate in the healthcare industry in order improve its chances to succeed. To achieve this, the situation of the startup In Singulo Solutions was examined by interviewing their potential customers and other organization that can contribute to their success. The empirical findings reveal that the competition from large suppliers, laws and regulations and the law of public procurement creates difficulties for startups in the healthcare industry. In order to improve its chances to succeed, a startup should focus on finding a customer need to target, find collaborators within the healthcare and focus on receiving support from innovation programs.
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biotechnology startups, success factors, healthcare market, innovation, startups as suppliers
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