Strategic advice for US market launch
Reference number | |
Coordinator | AlgoDx AB |
Funding from Vinnova | SEK 200 000 |
Project duration | July 2023 - October 2023 |
Status | Completed |
Venture | Medtech4Health: Competence Enhancement in SME |
Call | Medtech4Health: Skills enhancement in small businesses 2023 |
Important results from the project
The primary goal of the project was that prior to the US launch, AlgoDx intended to engage an experienced medical and business expert with experience supporting new technology launches in US hospitals. This objective has been achieved. AlgoDx intends to continue the work started before and during the launch of NAVOY in the US. The project has contributed to the fact that we expect to bring forward our US launch.
Expected long term effects
In addition to the fulfilled project goals, the company has also been able to revise the plan for the USA launch of NAVOY, which is expected to result in an earlier launch of our launch in the USA. The company´s overall knowledge of the US healthcare market, how our product offering should be packaged and sold in the US has increased significantly.
Approach and implementation
AlgoDx CEO, board member and also founder David Becedas has spent around 40% of his time on the project during the project. This has included time on site in the USA, with several meetings with representatives from health systems, as well as representatives from health systems from the American East Coast and potential American investors. A large number of online meetings the project has held with potential American investors, in cooperation with the consultants engaged in the project.