From Opportunity to a Viable Business Model
Ren茅 Unteregger's research reveals how health tech entrepreneurs effectively navigate through uncertainties to arrive at viable business models
Valley of Death
The commercialization of health technologies is of great importance to society. Innovations in this sector can save lives, improve the quality of care, and increase the efficiency of healthcare systems. However, the path to success is fraught with challenges, such as the long and deep "valley of death" where many innovations fail before reaching the market.
Challenges for Entrepreneurs
Unteregger's research highlights various challenges faced by entrepreneurs in the health tech sector. One example are the difficulties in aligning business models with rapidly evolving health technologies, including issues with intellectual property, clinical validation, reimbursement, and the dependence on venture capitalists, as described by Lehoux et al. (2014). The fast pace of advancement in healthcare鈥攆rom AI and machine learning to personalized medicine and digital therapeutics鈥攁dds another layer of complexity. Additionally, Beaulieu & Lehoux (2018) point to the increasing regulation and institutionalization of health technologies that puts pressure on entrepreneurs to manage conflicting agendas while also building trust and credibility with key stakeholders.
Core Challenges
Unteregger's research shows that navigating these uncertainties requires methods that emphasize rapid learning cycles, resource efficiency, and an intense focus on validating assumptions. The Lean Startup model, introduced by Ries (2011), provides a framework for this approach. The research is structured around three core challenges: complex problem-solving, designing value propositions, and legitimacy-building.
The first study examines how participants in an innovation contest on biosensors shape their problem-solving processes to achieve commercially viable outcomes. The second study introduces a new framework for customer value propositions that accounts for the dynamics of changing customer markets. The third study investigates strategies that technology companies use to overcome legitimation obstacles for non-conventional health technologies.
Interaction and Alignment
Unteregger's research offers concrete actions for entrepreneurs to navigate through uncertainties and develop viable business models. It emphasizes the importance of interaction and alignment with various stakeholders as a crucial strategic activity. These insights help entrepreneurs to convince, engage with, and mobilize key stakeholders such as customers and healthcare professionals.
Ren茅 Unteregger defended his thesis on April 17, 2025. Title of the thesis: 鈥樷��. Supervisors: Isabelle Reymen, Annelies Bobelyn, and Johanna H枚ffken.