Fertility Tech Startup
A promising fertility tech startup sought Elicit to equip it with robust and detailed research that could be used to advocate for better cryomanagement practices, advancements in fertility law, and more effective marketing to its target customers.
Context
An up-and-coming life sciences technology company that sought to innovate and provide safety in the field of IVF approached Elicit to expand the business case for and the marketability of its innovative solutions. We were tasked with presenting a story of why egg and embryo cryomanagement is a field worth investing in, and how this company could provide state of the art solutions to clinics and healthcare providers.
Challenge
The main challenge the company was faced with was to understand the scope of the problem its automated platform sought to address. A deeper understanding of the risks and challenges involved in cryomanagement would help this company strategically manage its marketing effort and develop critical insights into how technological innovation could facilitate best management practices within the fertility industry.
The Elicit Process
Our team at Elicit tackled the challenge by undertaking an in-depth research project, which reviewed existing data and literature available that effectively illustrated the challenges within the field of IVF specimen management. Our team undertook qualitative and quantitative research that illustrated the scope of the problem that the company sought to address, and highlighted the impact and potential of technological solutions for IVF specimen management.
Solutions
Our deliverable at the end of this project was a comprehensive report that featured detailed context around increasing IVF demand, a deep-dive into the legal landscape surrounding the IVF process, critical insights into the customer experience, and an identification of key steps within the cryomanagement processes where technological solutions could be particularly effective. Using relevant data and a defined nomenclature, we presented the company with a report that clearly lay out a legal and technical landscape in which the value proposition of its technology could be strategically communicated.
Impact
By the end of our work together, our client was equipped with a robust and detailed research report that could be used to advocate for better cryomanagement practices. Our research also facilitated legal and regulatory considerations for the company’s current and future projects, and provided a comprehensive look towards how the company could gain the visibility necessary to reach their target market.