Product details

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Subject category: Entrepreneurship
Published by: Stanford Business School
Originally published in: 2019
Version: 6 February 2019
Revision date: 18-Jul-2019
Length: 31 pages
Data source: Field research

Abstract

MedAvante, a provider of clinical trial services and technology solutions to the pharmaceutical industry, struggled to find product/market fit for many years, because its innovative service offering met fierce resistance from other stakeholders in the ecosystem. A strategic pivot to work with the ecosystem, not against it, saved the company and brought its co-founders to the brink of a successful exit. This case explores the difficulties of bringing innovation to a deeply conservative, highly regulated industry. It also analyzes the role that other stakeholders in a market ecosystem can play in encouraging, or blocking, the adoption of a star-tup's products/services.

Time period

The events covered by this case took place in 2019.

Geographical setting

Region:
Americas
Country:
United States

About

Abstract

MedAvante, a provider of clinical trial services and technology solutions to the pharmaceutical industry, struggled to find product/market fit for many years, because its innovative service offering met fierce resistance from other stakeholders in the ecosystem. A strategic pivot to work with the ecosystem, not against it, saved the company and brought its co-founders to the brink of a successful exit. This case explores the difficulties of bringing innovation to a deeply conservative, highly regulated industry. It also analyzes the role that other stakeholders in a market ecosystem can play in encouraging, or blocking, the adoption of a star-tup's products/services.

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Time period

The events covered by this case took place in 2019.

Geographical setting

Region:
Americas
Country:
United States

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