As part of the feasibility study, GlakoLens conducted in-vitro and in-vivo technical feasibility tests for its proprietary technology which revealed promising results and improvement opportunities. Interviews conducted with ophthalmologists, ophthalmology clinic managers, and scientists working in the field of glaucoma revealed that there is a need for a feasible 24-hour continuous IOP monitoring solution. However, getting reimbursement is vital for the economic success of the project, especially in Europe where ca. 99% of the residents have some form of health insurance. The conducted market research reveals that our competitor is focusing its efforts on USA and Japan, where 83% of the glaucoma market is located. GlakoLens has also reviewed its sales estimation and composed a financial estimation after updating its production costs and operation costs. The operation costs were updated with respect to the revised business plan of GlakoLens. During the business coaching sessions, GlakoLens improved its business, marketing and go-to-market strategy. GlakoLens exploited the project results by improving its product, its business plan and engaging with a market access & reimbursement specialists. GlakoLens disseminated the project in Hello Tomorrow Turkey Challenge in Istanbul (Runner-up Award), Hello Tomorrow Global Summit online meetings, T-DEB Showcase Event in London (an Innovate UK - Newton Project focusing on healthcare technology collaborations), InvestHorizon - BPI France presentation, by participating in the EIT Health - Healthcare Validation Lab Bootcamp, and by going through a due diligence process with an investor experienced in healthcare technologies.
