Navigating the High-Tech Entrepreneurial Journey: Abionic’s Quest for Healthcare Innovation

Description

Navigating the High-Tech Entrepreneurial Journey: Abionic’s Quest for Healthcare Innovation: Abstract

Abionic, winner of the Swiss MedTech Award 2023, was based at Biopôle, a large life sciences campus in Lausanne, Switzerland. Founded in 2010 by Nicolas Durand and Iwan Märki, Abionic developed and manufactured in vitro diagnostic solutions using its proprietary and groundbreaking nanofluidic technology. After ten years of R&D, Abionic was proud to have developed the abioSCOPE platform, which provided healthcare professionals in more than thirty countries with ultra-rapid, cost-effective point-of-care (POC) panel solutions.

At the time of the case, CEO and co-founder Nicolas Durand faced a tough decision: when the need for a second round of funding became apparent, he had to decide whether to accept the next set of investment offers or to hold back, stabilise the business and increase the valuation.

Teaching objectives

• Understand how entrepreneurs can bring about industry-wide change and the challenges that can arise at each stage of the business lifecycle.
• Generate alternative financing strategies.
• Understand the challenges faced by high-tech companies that “cross the chasm” from early adopters to the mainstream market; the importance of coherence and consistency in a company’s choice of target audience, value proposition, and go-to-market strategy; and the importance of personalities and company culture in the evolution of a founder-led company.
• Reflect on the ups and downs of the entrepreneurial journey and understand the evolution of an entrepreneurial venture with significant pivot points.
• Critically evaluate investment offers received and understand the difference between the end goal of investors and that of the founders.
• Understand various business models and when entrepreneurs should pivot based on the business model.
• Create a pitch deck.

Additional information

Teachers’ notes are available for university teachers only. Please contact the HEC Montréal Case Centre.