A venture capitalist, recognising that Singapore is an aging society, would like to invest S$50 million in a start-up company that manufactures a portable diagnostic tool to automatically diagnose depression.
Set up a detailed plan to show how you can introduce this technology to the market with a fund of S$50 million. The plan has to include all the unique functions of the diagnostic system and the reasons for the development of these functions. You should plan for this diagnostic tool to be profitable within TWO (2) years. Your plan should be cohesive and written as a report with proper referencing. Evaluate your research of strategic management and relevant case studies to craft your detailed plan, which should address following:
Give reasons why this diagnostic tool is an innovative product.
Compare the advantages and improvements of this technology to existing devices in the market.
Assess the challenges that your company might face when introducing this diagnostic tool to the market.
Formulate the strategies to be implemented for the product to be profitable within TWO (2) years.