CASE STUDY
Selma Diagnostics
Selma Diagnostics is a small start-up company established in Copenhagen, Denmark in 2015. The company's goal is to develop highly sensitive and straightforward tests for lung cancer and colorectal cancer.
Selma Diagnostics received partial funding for the development of the two cancer tests from the Danish Innovation Fund, Innobooster.
The company's CEO and Founder, Andreas Kunding, holds a Ph.D. in Bio-Nanotechnology from the University of Copenhagen and was also a researcher at the Technical University of Denmark.
Selma Diagnostics has rented office and laboratory space at Copenhagen Bio-Science Park.
The Brief
As Selma Diagnostics is a PCR (Polymerase Chain Reaction) testing Diagnostics solution, Andreas realized that there is potential for significant market demand for their product in local doctors' offices over the long term.
However, to do this, Andreas needed to turn their technology into a convertible product. And to achieve this, he realized that he needed assistance in creating a financial plan and time scales to present to potential investors.
The Solution
With Copenspace’s partner Morten Schaarup, an expert in Design Laboratory Projects, they began working together.
During the process, Copenspace met with Andreas to discuss his requirements, including the necessary equipment, laboratory processes, standards, and appearance.
They helped him understand the trade-offs between cost and appearance, ultimately presenting him with a final report that included pricing for laboratory equipment, technical package, office furniture, fire alarm and intruder alarm, construction package, architectural and engineering services.
Copenspace also provided options for premises rental, including rental rates for office space and maps showing municipalities most suitable for research companies. They indicated a time plan with examples of time schedules for several projects and options for project management support.
The Results
Thanks to Copenspace's assistance, Andreas Kunding was able to confidently create a presentation as regards the option of building his own laboratory and office space for potential investors.
By partnering with Copenspace, Andreas was able to create a detailed financial plan and timeline that could impress investors and demonstrate the feasibility of the project. This plan included the necessary requirements for laboratory and office space, ensuring that Andreas would meet the standard requirements at the most reasonable price possible.
Conclusion
Copenspace's assistance enabled Andreas Kunding to confidently create a financial plan and timeline to present to investors.
Copenspace provided the necessary laboratory and office space requirements, ensuring that Andreas would meet the standard requirements at the most reasonable price possible.
By partnering with Copenspace, Selma Diagnostics successfully created a financial plan and timeline, allowing them to confidently work on raising their t necessary capital to grow their company.