Subject category:
Marketing
Published by:
Harvard Business Publishing
Version: 18 April 2017
Length: 19 pages
Data source: Published sources
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Abstract
Luminopia - a start-up founded in January 2016 by three Harvard College freshmen - uses virtual reality technology to treat amblyopia (more commonly called 'lazy eye'), the single biggest cause of visual disorders among children. By February 2017, the three founders had raised USD950,000 in angel funding and developed a prototype of their virtual reality product, which was in use in clinical trials at Boston Children's Hospital. As the founders prepare to bring their new medical device to market, they struggle with two key decisions: Should Luminopia create its own salesforce to sell its product or should it outsource? And how should the company price its device to maximize returns yet remain attractive to doctors, insurance providers, and individual patients?
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Abstract
Luminopia - a start-up founded in January 2016 by three Harvard College freshmen - uses virtual reality technology to treat amblyopia (more commonly called 'lazy eye'), the single biggest cause of visual disorders among children. By February 2017, the three founders had raised USD950,000 in angel funding and developed a prototype of their virtual reality product, which was in use in clinical trials at Boston Children's Hospital. As the founders prepare to bring their new medical device to market, they struggle with two key decisions: Should Luminopia create its own salesforce to sell its product or should it outsource? And how should the company price its device to maximize returns yet remain attractive to doctors, insurance providers, and individual patients?
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