The importance of long-term market research

Commercial validation and long-term market research are crucial aspects of development and launch of life science ideas and companies.

It is therefore especially interesting to see that lifesciencesweden published an article by Björn Arvidsson (6 november 2020) focused on funding strategy. It emphasised the importance of both long-term market analysis and short-term funding activities to reach the next value inflection point in their development.

"Even if you are aiming for someone to buy your patent, or your company, when you have grown to a certain level, judicious and speculative decisions are needed that affect the result in ten years. Forecasting in the future is difficult and similar advanced guesses rarely age with dignity. We know that we overestimate changes in the short term, but underestimate them in the long run, largely due to collaborative developments that accelerate or outcompete a technology.No investor would risk financing a company with a lack of business plan. Against this background, entrepreneurs must both do a long-term market analysis while chasing short-term money to survive until the next major investment comes in."

Read the full article at Life Science Sweden (in Swedish) by following this link: https://www.lifesciencesweden.se/article/view/748713/bjorn_arvidsson_staten_kommer_behova_ta_storre_ansvar_for_innovation?ref=newsletter&utm_medium=email&utm_source=newsletter&utm_campaign=daily

NY Consulting has since 2013 supported companies from across Scandinavia. Check out our keynote on funding strategy from October 2020 to learn more about NY Cnnsulting insights and point of view on our Youtube channel: https://www.youtube.com/watch?v=I1xR7pD9ncs&t=66s