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Home › Topics › Starting a Life Science Business › Early Market Research

Case Examples, Leslie Bowen

Case Example: Leslie Bowen, Early Market Research

Topics Starting a Life Science Business Early Market Research Case Example: Leslie Bowen, Early Market Research

Business Founding Case, Part 1: Early Market Research

Case Name: Leslie Bowen, PhD

Description: 41-year-old Leslie Bowen, an associate professor and neuroscientist at a university, has a business idea based on selling lab-grown neurons that she will produce using a novel approach.

Progress to Date: Leslie has discussed her idea to start a business with her university Technology Transfer Office representative, Laila Robinson. Laila helped Leslie realize that entrepreneurship is a path she is interested in pursuing in order to apply her research and contribute to clinical advances by researchers who use her lab-grown neurons. Laila helped Leslie understand that she can mitigate the personal financial risk of starting a business and that entrepreneurship has advantages for women with children. These factors helped solidify Leslie’s commitment to forming a business.

Scenario, Part 1: After Leslie presents her idea to Laila Robinson at the Technology Transfer Office, Laila describes several areas of early market research for Leslie to pursue to assess the business potential of her idea.


It may seem early, but doing some research to make sure there is a need and a market for your idea is important. How large is the market for these neurons, and are you sure it is a unique idea? You said that people in your field will want lab-grown neurons. What about other fields?

I think the market will be sizable, given the neurons’ potential for use in many different areas of clinical research. I know it is a unique idea. It’s based on a process I invented, and I’ve investigated it to make sure no one else has thought of doing it this way.

Good. You have to investigate whether researchers would be able to afford them too. Can they be mass-produced? How much of a supply would a typical researcher need?

I don’t know that yet. I’d need to work with an engineer to design an easily scalable manufacturing process. I keep improving it every time I run into problems. I’d have to talk to my potential customers as well to better understand their needs.

These are the types of questions you should try to answer before starting a business. The answers will give you some idea of whether entrepreneurship is worth the effort. I’ll give you a list to consider. Let’s meet again and talk about what you learn.


Laila’s list of early market research topics

View Part 2 of this case

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Topic Home Expand All
Intro to Starting a Life Science Business
3 Articles
Overview of Starting a Life Sciences Business
Evaluate Your Business Skills
Finding a Sound Business Idea
Early Market Research
3 Articles
Case Example: Leslie Bowen, Early Market Research
Market Research Before Starting a Business
Tips for Biomedical Market Research
Business Planning & Commercialization
9 Articles
Writing a Business Plan
Develop a Reimbursement Strategy
Technical and Business Assistance and Other Commercialization Support
Case Example: Commercialization Advice
Other Post-SBIR Commercialization Support
Planning Your Research Environment
Technology Readiness Level
Design, Prototype, Testing, Manufacturing
Tips on Planning from Successful Biotech Entrepreneurs
Financial Skills, Planning, & Investors
6 Articles
Financial Planning
Tackling Financial Risk
Equity and Shares
Sources of Capital for Small Businesses
Case Example: Learning Investor Basics
Entrepreneur Financial Skills and Resources
Registering Your Business
3 Articles
Business Name, Tax IDs, and Insurance
Registrations for Your Business
Industry-Specific Requirements, Licenses, and Permits
Your Business Governance
4 Articles
Select a Business Structure
Cofounders, Partners, and Founding Team
Board of Directors
Roles You Can Play in the Business
Return to Starting a Life Science Business
End Resources

This project is funded by National Institute of General Medical Sciences (Grants 1R43 GM131458-01 & 2R GM131458-02)


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