A startup technology company with a vision to disrupt the agriculture, food and water safety industries needed help moving its product from a working prototype to a viable product. A chemistry professor invented a portable spectrometer and mobile application that empowers farmers and other non-scientific professionals to easily, accurately and instantly test the safety of their food and water. To get his innovative product from prototype to market, the company needed help to define a market strategy, develop a product roadmap and attract the right investment partner to fund future research and development.
With a track record in helping venture-funded startups get off the ground, Larx was engaged to develop a comprehensive investor outreach strategy to help the client identify and attract the right financial partner. In order to identify the size of the opportunity, develop a vision and determine the future potential of the technology, Larx conducted interviews with potential customers and industry experts, created surveys and observed how the product was used in the field.
Larx also procured and analyzed secondary market research to create an engaging story about the product and the problem it was solving for the market fit. Once the research was complete, Larx developed pro-forma financial models and performed what-if analyses to forecast the company’s path to profitability and potential liquidity events.
Larx applied a strategic, data driven approach to help the start-up develop a plan for growth and attract venture capital investment for its innovative technology. The Larx team helped the client define a comprehensive go-to-market strategy, develop a product roadmap and created a compelling business plan that provided investors with the ability to see not only a great idea but an achievable growth strategy. Larx also assisted the company with identifying potential investors and creating an outreach strategy.
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