Disruptive Innovation in MedTech

Client Profile

Global MedTech Provider

Leader in their industry seeking transformative innovation.

Objectives

Break out into adjacent & innovative markets building on core technology
Tap into the hidden buckets of knowledge of 1000s of R&D experts across different offices across the globe

Key Outcomes

15M€ investment budget as a head start for the top 3 promising opportunities

The Innovation Journey

1. Set Target

Defined a clear 3-year ambition to enter the 'Preventative Wellness' market, setting a revenue target of €50M from new ventures by Year 3.

2. Research

Scanned 150+ global patents and academic papers in bio-monitoring to map the 'White Space' where the client's core sensor technology could be applied.

3. Extract Insights

Conducted 40+ deep-dive interviews with internal R&D experts, uncovering a 'dormant' reliable hydration tracking algorithm that had been shelved.

4. Ideate

Hosted a 48-hour global virtual hackathon with 300 cross-functional participants, generating 212 concepts, which we filtered down to 12 'Gold' candidates.

5. Form Teams

Selected 3 Venture Leads from the internal talent pool and paired them with external entrepreneurs to form 3 'Hybrid Startup Teams'.

6. Investigate

Teams ran 6-week 'Pretotype' sprints, testing landing pages and 3D-printed mockups with 500 potential users to validate willingness-to-pay.

7. Fund

Presented 3 fully validated business cases to the Investment Board; 2 were killed, and the 'Hydration Coach' venture secured €15M in Series A funding.

Confidential