Thursday 28 April 2011
Reinforcing the commercialisation process for an innovative waterproof inhaler through Ideas2Market
LifeHaler Pty Ltd has designed a new revolutionary asthma inhaler – the LifeHaler.
The LifeHaler is a waterproof and wearable asthma inhaler designed for quick and easy administration of asthma medication for those engaging in water sports and physical activities.
LifeHaler initially started out as an idea by entrepreneur, Mark Boardman. Mark then progressed through the various stages of design and formed LifeHaler Pty Ltd with business partners Mickael Blanc and Rodney Cusack aiming to commercialise the product in 2011.
The unique wrist-worn design features an innovative sealed valve which allows asthmatics to enjoy their favourite activities safe in the knowledge that their medication is always at hand. When an asthma attack occurs the user opens the mouthpiece cap, brings the mouthpiece to their mouth and activates the device by pressing the actuator button. The device delivers a quick, easy and effective dose of asthma medication for all asthmatics on the go.
LifeHaler Pty Ltd is currently in the process of commercialising its innovative waterproof asthma medication device.
During the commercialisation process, Mickael and Rodney participated in the Ideas2Market workshop program.
An initiative of the Queensland Government’s Department of Employment, Economic Development and Innovation, the Ideas2Market small business program is delivered by the AIC to provide innovators and small-to-medium-enterprises (SMEs) with information and skills to improve their competitive advantage.
The Ideas2Market program consists of two distinct workshops to cater for those who are looking to start a business or progress an invention, as well as existing businesses that are looking to grow, improve and foster sustainability.
These workshops are delivered by the AIC’s experienced facilitators and include a range of guest speakers including patent attorneys and real-life business case studies.
Mickael and Rodney attended the introductory workshops. The Ideas2Market Introductory Workshop provided a comprehensive introduction to starting a business and taking an idea to market.
Designed for those who would like to start a business or those with early-stage business ideas, the introductory workshop covered topics such as determining feasibility of an idea, business planning, protecting intellectual property, marketing strategies, commercialisation pathways and more.
Following completion of that workshop, Mickael and Rodney attended the Ideas2Market Masterclass Workshop, designed for existing businesses that are looking to grow, improve and foster sustainability. This provided them with more advanced knowledge about building and validating a business model, managing the right team, brand strategy and marketing techniques for entering new markets, innovation and new product development strategies, strategic IP management, exporting and more.
In the case of LifeHaler, the content of the workshops was not all new. However, Ideas2Market did reinforce and refresh many aspects of the innovation-to-commercialisation process for these two entrepreneurs. It also provided a forum for ideas sharing and meeting of people, ultimately providing important business connections and collaborations, particularly for a business in its fledgling stages.
They both commented that they gained significant value from the real-life experiences of the speakers, particularly around the topics of marketing and seeking government grants and funding to assist in the innovation-commercialisation process.
Even though the LifeHaler product is yet to be delivered to the market, Ideas2Market provided core advice on the requirements for achieving commercialisation.
LifeHalerPty Ltd is currently looking for funding to accelerate their path to market.
Indeed, further testing of the product and redesigning according to client feedback are of utmost importance to provide optimal safety and maximum benefits to customers.
“Entrepreneurs often have to deal with two main issues; making informed decisions which are not based on “gut feelings”, and staying in contact with the real world.
Mickael Blanc said “AIC workshops certainly cater to new entrepreneurs needs in that regard. First by putting them in touch with a network of other entrepreneurs and then by increasing their business acumen. AIC workshops provide strong bases for entrepreneurs to make better educated choices and management decisions.”
For further information on Ideas2Market, visit www.ausicom.com/Ideas2Market, call 07 3853 5225 or e-mail info@ausicom.com
