How we can help clients quickly scale up and enter new markets: a Singapore biotech case.
- Singaporean bio technology company is launching COVID-19 tests globally in March 2020
- The client is looking for a third party, who is able to quickly scale up and enter in different markets identifying suitable local distributors, who are able to handle product registration with local health authorities and identify sales opportunities.
Identifying New Markets
- The first two weeks were spent on identifying which markets would be interesting; LatAm, Benelux, and Indonesia were selected.
- For each country, local partners were identified to make a market scan and assessment of the sale potential.
- Together with the client, we decided on a product strategy and business development plan.
Within 3 months, we signed up distributors/agents in 5 countries; setup sales teams in Ecuador, Argentina, Colombia, and Indonesia
We were able to generate a key leads list and simultaneously assisted our client with successful product registration in all 3 LatAm countries within 3 months on a fast track and provisional health authority approval (ARCSA, ANMAT, and INVIMA)
We successfully shipped out product samples to all 3 LatAm countries and tested any issues with a specialty “cold-chain” shipping company, in order to identify any potential bottlenecks.