Our Strategy
How we play
In ileria, our strategy is defined as a roadmap to achieve the company’s goals and aspirations. This strategy not only helps us identify the needs and expectations of our customers and users but also enables us to understand our own capabilities and limitations. We aim to become the leading provider in our industry by focusing on innovation, service quality, and positive customer experience. In the following, we will analyze the market, our value propositions, and our growth strategies to demonstrate how we intend to achieve these objectives.
Market Analysis
Market Size:
CPR is a life-saving technique used in emergencies such as cardiac arrest, drowning, electrocution, drug overdoses, and other critical incidents. As a result, the ileria CPR feedback device can be offered to various customers, and collectively over 2 million devices can be sold. Within this market, there are different segments, each targeted by a specific group of similar equipment manufacturers.
Competition from Established Companies:
Established companies in the medical equipment industry are focused on customers such as healthcare facilities like hospitals and educational organizations like the Red Cross, and are competing to gain a larger share in these segments. These segments account for 20.3% of the total market size. The price range of the products offered by these companies is between 1,000 to 2,000 euros per device.
Competition from Smaller Companies:
Due to the time and resource-consuming process of product development in this industry, as well as the need for technological advantage compared to established companies, smaller companies have limited financial resources and sales networks. As a result, they have turned to other market segments and offer products with a price range between 30 to 150 euros. These smaller companies are more focused on the general public market rather than competing directly with the established companies to take market share. This segment accounts for 20% of the total market.
Unserved Segments:
There is a third category of customers who, despite the need for similar solutions, have not received any services and have resorted to using defibrillators alone (while these two technologies are complementary, and the presence of one without the other is not sufficient). The needs of these customers and the conditions of their product use not only create significant technical and technological challenges, but they are also not direct customers of the medical equipment companies, and the established companies also do not have a significant sales network (outside the healthcare supply chain). These markets account for 59.7% of the total market size. Examples of this segment include airlines, firefighting departments, and swimming pools.
Customer Needs
Medical centers, emergency medical systems (EMSs), CPR training centers, and Red Crescent/Cross organizations have a critical need for quality assurance and performance monitoring in CPR delivery. They require solutions that can ensure their staff and trainees are providing high-quality CPR that meets recommended standards. Additionally, there is a need for standardization of CPR training programs across different regions and countries.
For organizations operating in remote locations, high-risk environments, or water-based settings, such as rescue diving federations, coast guards, shipping companies, naval forces, and pools, having access to effective CPR feedback devices is essential. These solutions can help buy crucial time for emergency medical assistance to arrive, reducing the risk of adverse outcomes.
Similarly, high-risk industrial facilities and factories need to prioritize employee well-being and safety by equipping their workforce with the ability to administer effective CPR during medical emergencies. Firefighters and traffic police/highway patrol also require enhanced CPR quality, effectiveness, and skill retention to respond promptly and appropriately to emergencies.
Addiction treatment centers face the challenge of addressing health complications and potential cardiac events among their patients, and they need tools that can help their staff provide timely and accurate CPR interventions to save lives.
Our Value Propositions
The ileria CPR feedback device addresses these diverse customer needs by providing:
- Real-time feedback to the performer to increase the quality of CPR, leading to up to a 3x increase in the chance of survival.
- Emergency preparedness and risk mitigation by equipping personnel with the tools to respond effectively in medical emergencies.
- Post-CPR data analysis to track and enhance the performance of staff and the effectiveness of CPR programs.
- Enhanced consistency and accuracy in CPR training, leading to better outcomes in real-life situations.
- Improved student engagement and motivation during training sessions through interactive visual and audio feedback.
- Compliance with guidelines and standards, ensuring training programs align with best practices.
- Detailed performance reports to evaluate and drive continuous quality improvement in CPR training.
- Increased confidence and situational awareness for first responders, leading to better decision-making and outcomes.
- Demonstrating a commitment to patient safety and well-being, enhancing public perception and regulatory compliance.
By addressing these critical needs, the ileria CPR feedback device can play a pivotal role in saving lives and improving emergency medical response across a wide range of industries and organizations.
Our Strategies
Blue Ocean Strategy:
The Blue Ocean Strategy refers to the approach of creating new market space and making the competition irrelevant, rather than competing in the existing crowded market. This involves identifying unmet customer needs, developing innovative solutions, and focusing on value creation rather than price competition. Our focus is on value creation through enhanced CPR performance, improved training capabilities, and seamless integration with existing emergency response systems. This allows us to differentiate ourselves from the traditional players and establish a strong foothold in the market. On the other hand as a result of intensive R&D, we are the only provider in about 60% of the market without competing with either established or small companies.
Initial Offering and Market Penetration:
After carefully examining the various growth opportunities for our company, and considering the time-consuming process of obtaining medical certifications, we have decided to initially introduce our product as a non-medical, educational offering. This will allow us to engage our customers in the best possible learning experience for CPR, while we work towards securing the necessary medical approvals. Once we have obtained the required medical certifications, we will then pivot our product offering to focus on its primary purpose: saving lives. We will position the device as a direct-use medical solution during emergency situations. It’s worth mentioning that we have successfully passed the technical tests of the safety and performance requirements for medical electrical equipment (IEC60601-1) and we need to pass the clinical trial.
Market Development:
The Blue Ocean Strategy refers to the approach of creating new market space and making the competition irrelevant, rather than competing in the existing crowded market. This involves identifying unmet customer needs, developing innovative solutions, and focusing on value creation rather than price competition. Our focus is on value creation through enhanced CPR performance, improved training capabilities, and seamless integration with existing emergency response systems. This allows us to differentiate ourselves from the traditional players and establish a strong foothold in the market. On the other hand as a result of intensive R&D, we are the only provider in about 60% of the market without competing with either established or small companies.
New Product Development
Through our product research and development process, we have amassed a valuable knowledge base that enables us to efficiently introduce new products to our portfolio in less than a year’s time. This agility in innovation will be a key competitive advantage for our company. In addition to our core CPR feedback device, we have also established the infrastructure to collect CPR data to gather the first dataset of CPR in the world. By aggregating this data, we will be able to drive a transformative change in the emergency response industry. This not only provides us with data-driven revenue models in the long term but also presents the opportunity to revolutionize the industry and save millions of lives.
Strategic Partnerships:
At ileria, we would welcome strategic partnerships for driving innovation, expanding our reach, and delivering exceptional value to our customers. We are actively seeking to cultivate collaborative relationships with a diverse range of organizations, including academic and research institutions, medical equipment manufacturers, distributors, and emergency service providers. By aligning our efforts and leveraging each other’s strengths, we can collectively expand the reach of our solutions, explore new market opportunities, and drive continuous improvement in the quality and performance of our products. Through these strategic partnerships, we will not only increase the sales of our current products but also collaborate on the development of innovative new solutions. By embracing a collaborative mindset and fostering strategic partnerships, we are confident that we can make a lasting impact on the emergency preparedness and response landscape.
In ileria, our strategy is defined as a roadmap to achieve the company’s goals and aspirations. This strategy not only helps us identify the needs and expectations of our customers and users but also enables us to understand our own capabilities and limitations. We aim to become the leading provider in our industry by focusing on innovation, service quality, and positive customer experience. In the following, we will analyze the market, our value propositions, and our growth strategies to demonstrate how we intend to achieve these objectives.