Entrepreneurship

APTASTELES was ideated to provide better diagnosis that is accurate and available to all. To realise this, here we have tried to plan and surface out the industrial potential of this kit. As this kit is in it’s fetal stages, take the analysis with a pinch of salt, with much scope of changes and improvements.

To build on this plan, we analysed various aspects of commercialisation of our kit by structuring it through various places, markets, people, societies, industries and the environment. 


COMPETITOR ANALYSIS

Table 1. Table showing comparison of various parameters between PCOS products of countries and proposed APTASTELES Kit

*Based on local surveys conducted by the team.

**Based on research conducted by the team on existing prices; can vary based on location, parameters analysed, etc.


Table 2. Table showing comparison of various parameters between current diagnostic methods of PCOS and the proposed APTASTELES Kit

RISK ANALYSIS

Competition (Low to Moderate: As few companies launch a full fledged diagnostic kit for PCOS) Risk count: 2-5

Financial (Moderate to High: Expensive components of kit and manufacturing cost; Harder to regulate costs till the end user.) Risk count: 6-9

Workforce (Moderate: Training of the required skilled workforce takes time and resources.) Risk count: 3-6

Regulatory and Legal (Low to Moderate: India has legal provisions for new diagnostic kits.) Risk Count: 2-6

Market (Moderate to High: The subtle cost difference between existing and kit’s prices; expansion is tough due to kit’s components.) Risk count: 6-9

Operational (Moderate to High: Requires skilled manpower for manufacturing; technology and materials for the kit is hard to get on a large scale.) Risk count: 4-8

Systematic (Moderate: Regulations for synthetic biology technologies still not fixed or clear.)
Risk count: 4-6

COST ANALYSIS OF THE KIT


How much will our kit costs?


Although the incomplete design of the kit seems expensive, future iterations of the kit will be targeted to make the kit safe and as affordable as possible.


The kit should consist of the following:

  1. Hardware parts- Initial hardware costs: ~15K
  2. Reagents:
    1. Aptamer
    2. DFHBI
    3. Sensor Buffer
    4. T7 Polymerase
    5. NTP Buffer Mix
    6. DNAase

MARKETING STRATEGY

Once a clear business plan for the manufacture and distribution of the kit has been established, a clear cut strategy for the marketing of our product has to be thought of. We have divided the marketing plan into five different aspects which talks about different dimensions of our kit, its distribution and promotion. The 5P Analysis system - Product, Packaging, Price, Place, Promotion - has been employed for the same.


The APTASTELES kit is offering a system that uses not only one type of biomarker to diagnose PCOS, which has the potential to revolutionise the diagnostic market. Commercially accessible kits and tests currently solely consider hormones, which are inherently unreliable. In addition, other diagnostic procedures, such as a pelvic exam, ultrasound, etc., require many checkups, and even then, the probability of misdiagnosis is considerable. APTASTELES tries to address this issue by identifying multiple biomarkers simultaneously, including proteins, hormones and miRNAs. When compared to the current options, this would greatly improve test efficiency and precision.

Point-of-care testing equipment for Polycystic Ovarian Syndrome(PCOS) does not currently exist in India. With merely a pinprick of the finger, our solution can provide a more accurate and affordable diagnostic. In order to choose the best course of action, a proposed automated system would evaluate the levels of specific biomarkers. The manual labour required to operate the kit has been minimised in order to facilitate easy operation. The diagnostic abilities of APTASTELES are demonstrated to be unparalleled.

In order to entice more clients to at least inspect the kit, we would need an unique and appealing exterior cover that complements the high quality of the kit, without compromising the sustainability of the kit. The visualisation would not be inviting just to the female demographic in general, let alone even ovary owners specifically. Even if a person does not fall into the demographic that is intended to buy the goods, they are more likely to talk about it if the packaging is imaginative and includes everyone. In addition, a plan to include a brochure, which would be reviewed by medical professionals and other experts, would be included as a method for aftercare. This brochure would contain information on how to keep a healthy lifestyle and eat a proper, nutritious diet, particularly in the event that you test positive for the kit. This makes clients feel like they're dealing with a real person, rather than simply another faceless corporation out for a quick buck.

During the early stages of production, there won't be many opportunities to find cost-cutting measures that work. However, this is not likely to have an effect on the demand for the product because, in contrast to the numerous blood tests and scans that cost thousands of dollars, a single usage of our kit would provide the user with a reliable output that could be used to advance the diagnostic process. If we were to compare the cost of using this kit to that of using more traditional diagnostic procedures or even one of the highly overpriced testing kits that are commercially available, we would see that purchasing our kit would be the more cost-effective option. In addition, when the business grows and attracts a greater number of clients, there is the potential for the market retail price to be lowered without the margin of profit that was originally envisaged being affected.

The initial metropolitan cities that will serve as the focus of marketing efforts are ones that are home to populations of individuals whose lifestyles are constantly evolving, making them more susceptible to conditions such as Polycystic Ovarian Syndrome (PCOS). These cities are great locations for our distribution center because of the pressing need and importance of the kit. After we have established a foothold in these locations, we will be able to go out into surrounding semi-urban areas, where thanks to our extensive advertising and other marketing efforts, people will already be familiar with our product. Due to the fact that one of the primary goals of our initiative was to reduce the number of instances in which people did not receive a diagnosis, rural areas would be the final but most significant demographic area. It is also a possibility for us to consider selling our wares at a price that is lower than usual in order to make them more accessible to those whose financial circumstances are less favorable.

The key retail locations where the kit will be available for purchase are going to be pharmacies and hospitals. It has the potential to be distributed further to grocery stores and local medical shops. In addition to this, it may also be provided through Public Health Centers (PHCs), which will entitle the purchaser to a price reduction for the kit. Additionally, this has the potential to broaden the audience that is exposed to our product beyond those who are receptive to advertising through technology and social media networks

Due to the fact that our product's first retail sites were going to be hospitals and pharmacies, it was decided that medical experts would play an important part in the advertising of our product. Doctors would be happy to recommend our kit to their patients once they would believe in the quality and viability of our product. If the recommendation were made by an industry professional, the user's potential resistance to use the product would be reduced.Because Primary Health Care Clinics (PHCs) were also a point of potential distribution, governmental agendas and policies that aim to raise more awareness about reproductive health among the general public could work to our advantage. This would result in an increase in the need for and the number of people who use our kit. In addition to this, general adverts would be placed in newspapers and on streaming platforms.

The use of social media platforms for promotion is yet another avenue that generates a lot of revenue. By maintaining contact with influential people, we can take advantage of the enormous number of people who follow them and make more of our target audience aware of our product. A surprisingly significant part in the explosion of our goods will be played by social media platforms and following bases. A single mention of our product by an influential person with a large following can drive countless more customers to purchase it. Furthermore, an ovary-specific product is a relevant topic to be associated with in the eyes of an influencer, which means that this situation has the potential to be beneficial for both of the individuals concerned.

The expansion of our sales could also be further facilitated by the formation of partnerships. Bodywise is just one example of the many businesses already operating in the market that provide products that are specifically designed to treat PCOS. A potential relationship with an organisation such as that can expand the user demography of both the institution and the enterprise, which will ultimately lead to an increase in sales. Partnerships with online shopping platforms are another effective tactic, since they allow us to remunerate such platforms for the development of an algorithm that directs more customers toward our goods.

SAFETY AND SUSTAINABILITY

The kit, despite being innovative, intends to take into consideration not only the viewpoint of the user but also methods of secure disposal and degradation as well. On our Safety page, you can find a more in-depth analysis of the same matter. During the development stage, another factor that was taken into consideration was the product's ability to be maintained over time. In order to guarantee that the product we produce will in no way be detrimental to the natural world, each and every raw material that is incorporated into the production process and the accompanying packaging will be subjected to a battery of analyses and examinations. During the process of actualization, there is also the potential for the implementation of a recycling plan for the kit that is based on a reward system for the user.

EXPANSION

When we have completely dominated the market in India, we will be in a position to expand the business into other countries and continue our advancement. Considering South Asia is the epicentre for the growing number of PCOS instances that have been identified, a similar trend can be anticipated in the years to come. Therefore, expanding into the countries that are adjacent to India would be the most sensible choice. When considering the response that we would get from these countries, it is possible to consider broadening to further jurisdictions. If a patient is diagnosed with PCOS, one of the company's strategies could be to broaden the line of products it offers by developing dietary supplements, such as health gummies, energy drinks, and other similar products. These products would be designed by a variety of newly hired professionals within the organisation. In addition, the configuration of the kit that is currently being utilised is one that could be replicated for the biomarkers of various other diseases, as well as one that could be designed for the diagnosis and detection of these wide variety of disorders and diseases. The company's market share can be grown and entrepreneurial success achieved further by working on a wide variety of various fronts.

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