The Board of Directors needed to know if a financially troubled process control start-up could be rescued and made commercially viable.
Our job was to
· Develop an independent assessment of market opportunities, product viability and likelihood of attracting venture capital
· Refocus the business plan to capitalize on market opportunities
· Identify staffing requirements to complete product development, launch a marketing program, and initiate sales activities
· Take on an interim leadership role pending establishment of a new senior leadership team
· Lead efforts to secure needed venture capital to commercialize the product
Result: Within a few months, we successfully gained commitment for needed funding, resulting in product commercialization, an unassailable patent, and an initial large volume purchase agreement
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