Product Portion of Entrepreneurship

Our probiotic solution is presented in detail, highlighting its unique characteristics and how it addresses the identified deficiency.

We meticulously outline the value proposition of our product, mapping out the key benefits it offers to our target audience.

We emphasize the distinctiveness of our product, showcasing how it stands out in the market and fulfills unmet needs not covered by existing solutions.

A meticulously crafted business model canvas is included, offering a comprehensive view of our entrepreneurial approach.

We present a detailed market analysis showing the available markets and their overlaps. A competitive analysis sheds light on who our market counterparts are, as well as their product positioning.

We delve into our solution's strengths, weaknesses, opportunities, and threats. Additionally, our value chain analysis outlines the production and distribution phases.

We analyze the political, economical, social and political factors that impact our probiotic and its commercialization. Key elements for commercialization of our probiotic are discussed.

Key factors that impact the success of the commercialization of BloomBiota resulting from the culmination of our work are discussed.

We comprehensively address potential risks, demonstrating a strategic approach towards risk management.

A potential exit strategy is discussed

We assess the positive and negative impacts of our project, aligning with the Sustainable Development Goals. Risks that may be unavoidable are candidly discussed. In every section, we ensure alignment with the judging criteria, providing a robust foundation for the entrepreneurial aspect of our project. Through this page, we aim to showcase the viability, inventiveness, and positive long-term impacts of our solution.

Vitamin B12 deficiency is a prevalent health concern, affecting a substantial portion of the population. One significant factor contributing to this deficiency is the inadequate absorption of vitamin B12 due to a lack of gastric intrinsic factor (GIF) (Al-Awami et al., 2023; Stabler, 2013). GIF is a vital protein required for efficient vitamin B12 absorption in the gastrointestinal tract (Al-Awami et al., 2023). As one ages, their GIF levels decrease and thus can cause vitamin B12 deficiencies (Rémond et al., 2015; Stabler, 2013). Thus, making the need for a therapeutic or supplement to prevent this deficiency essential.

Our innovative probiotic supplement, “BloomBiota”, would address this issue by introducing a genetically engineered strain of bacteria that produces and releases the gastric intrinsic factor. This probiotic aims to enhance the absorption of vitamin B12 in individuals with GIF deficiencies. It represents a groundbreaking leap forward in innovation, offering a fresh perspective and untapped potential in probiotics. With our unique approach, it holds significant promise for patentability. For a detailed exploration of our project’s potential and its trailblazing impact, please refer to the Intellectual Property section on our Human Practices page. Furthermore, read more about the novelty of our project in our Competitive Analysis section. Conveniently packaged in an easy-to-swallow pill, this product is designed to work in tandem with your body's natural processes. Here's how it works: Our probiotic leverages the gastric intrinsic factor, a crucial protein that facilitates B12 uptake in the intestines (Al-Awami et al., 2023; Stabler, 2013). By enhancing this natural mechanism, our supplement ensures that your body absorbs this vital nutrient more efficiently. This means you get more out of every dose, supporting energy levels, cognitive function, and overall well-being. Simply incorporate this probiotic into your daily routine, and let your body do the rest. With consistent use, you'll experience the benefits of optimized B12 absorption, empowering you to lead a more vibrant and energetic life.

Our probiotic supplement provides a unique and groundbreaking solution for individuals struggling with vitamin B12 absorption issues to inadequate gastric intrinsic factor. By replenishing GIF, we offer a holistic approach to improving vitamin B12 levels.

As we have found that many demographic groups are impacted by vitamin B12 deficiency, we have found that our targeted market would be segmented. Our main potential customers would be:

The General Population: Ensuring that everyone has access to a solution and can prevent vitamin B12 deficiency

Seniors and the Aging Population:Addressing the unique nutritional needs for seniors, supporting their vitality and well-being

Vegans/Vegetarians:Ensuring that vitamin B12 is able to be efficiently absorbed by those following plant-based lifestyle

Women and Pregnant Women: Offering a crucial supplement to support women’s health, and maternal health and fetal development.

Individuals with Digestive Disorders:Ensuring that those who have health conditions that prevent sufficient levels of GIF needed for vitamin B12 uptake have the ability to absorb vitamin B12 through supplemented GIF

Athletes and fitness enthusiasts: To support the nutritional and energy demands of active lifestyles.

Low Income Individuals and Families: To support those with nutritional deficiency, we offer a solution that will target the root cause of vitamin B12 deficiency.

The factor that sets our probiotic supplement apart from current supplements on the market is its targeted focus on GIF production. While other supplements may attempt to address vitamin B12 deficiency, our product directly targets the root cause by providing the essential protein needed for optimal absorption. Expected benefits include:

Improved vitamin B12 absorption: Our probiotic supplement would facilitate more efficient and effective absorption of vitamin B12, ensuring individuals receive the full spectrum of its benefits.

Natural GIF Production:Our probiotic strain produces and releases gastric intrinsic factor, mimicking the body’s own mechanism for vitamin B12 absorption.

Enhanced Overall Health: By addressing the underlying deficiency, our probiotic supplement may contribute to improved energy levels, cognitive function and overall well-being.

Convenience and Safety Our product offered a user-friendly approach and would not need to be administered by healthcare professionals making it more accessible than vitamin B12 shots.

Through BloomBiota, we aim to revolutionize the approach to vitamin B12 supplementation, offering a safe and effective solution for individuals with GIF deficiencies and a preventative supplement for all. By directly addressing the root cause of the issue, we believe BloomBiota holds immense potential in positively impacting the lives of those affected by vitamin B12 deficiency.

BloomBiota is designed to cater to individuals facing challenges in vitamin B12 absorption due to a deficiency in gastric intrinsic factor (GIF) and the broad population as a preventative measure. This segment primarily includes:

Individuals with GIF Deficiencies: GIF deficiency is a condition that hinders the body’s ability to absorb vitamin B12 effectively (Al-Awami et al., 2023; Andrès et al., 2004; Rémond et al., 2015; Stabler, 2013).

Elderly Populations: As we age, the body’s natural production of the gastric intrinsic factor decreases, making elderly individuals more susceptible to vitamin B12 deficiency (Andrès et al., 2004; Rémond et al., 2015; Stabler, 2013).

Vegans and Vegetarians: Individuals adhering to plant-based diets are at a higher risk of vitamin B12 deficiency due to limited dietary sources, and as such they must take vitamin b12 supplements (Flanagan, 2018; Singla et al., 2019).

Patients with Gastrointestinal Disorders Conditions such as celiac disease, Crohn's disease, and pernicious anemia can impair the body's ability to produce or utilize gastric intrinsic factor.

Women: Women constitute a significant portion of our target demographic, and it is crucial to address their unique health concerns. 1 in 20 women of childbearing age are often deficient in vitamin B12 and vitamin B12 deficiency in mothers can lead to serious neurological conditions in the fetus and vitamin B12 is necessary for healthy blood cell formation (Hassan et al., 2022; Imbard et al., 2013; Pepper & Black, 2011; Roumeliotis et al., 2012; Wilson & O'Connor, 2021). Our probiotic supplement, enriched with the essential gastric intrinsic factor, offers a tailored solution to enhance vitamin B12 absorption, benefiting women of all ages.

General Population Our probiotic supplement is designed to cater to a wide demographic, ensuring that individuals from various age groups and backgrounds can benefit from improved vitamin B12 absorption.

Low Income Individuals and Families: We recognize that in low-income economies, access to essential nutrients is often limited and thus nutritional deficiencies are more common (Siddiqui et al., 2020).

Unique Value Proposition for Each Group:

Individuals with GIF Deficiencies: Our probiotic supplement offers a groundbreaking solution by introducing a natural source of GIF, thereby addressing the root cause of their vitamin B12 absorption issues.

Elderly Population: As age-related declines in GIF production can contribute to vitamin B12 deficiency, our probiotic provides a targeted approach to support their nutritional needs (Andrès et al., 2004; Rémond et al., 2015; Stabler, 2013).

Vegans and Vegetarians: By supplying the gastric intrinsic factor to help with the uptake of the vitamin b12 supplements they will need to take, our probiotic supplement ensures that those on plant-based diets receive the essential nutrient they may be lacking from food sources.

Patients with Gastrointestinal Disorders: For individuals with gastrointestinal disorders that compromise GIF production or utilization, our probiotic offers a supplementary source of this crucial protein.

Women: Our probiotic supplement, fortified with the essential gastric intrinsic factor, is uniquely formulated to address the specific needs of women and pregnant women.

General Population: Our probiotic supplement goes beyond mere supplementation. It offers a holistic approach to health by ensuring optimal vitamin B12 levels. This not only supports cognitive function and immune health but also contributes to overall vitality. With our probiotic, individuals can experience a comprehensive boost to their well-being, enabling them to thrive in all aspects of life.

Low Income Individuals and Families: We seek to bridge the nutritional gap so that individuals can attain optimal levels of vitamin B12 promoting overall health and well-being. By targeting the root cause of the deficiency by providing the essential protein needed for optimal absorption, vitamin B12 deficiency will be treated more efficiently and thus be more cost effective in the long-run.

Individuals diagnosed with GIF deficiencies, elderly individuals, vegans, vegetarians, and patients with gastrointestinal disorders.

Healthcare professionals, dietitians, nutritionists, and individuals interested in natural and innovative approaches to health and wellness.

By identifying and catering to these specific customer segments, we aim to provide a tailored solution that addresses their unique needs, ultimately empowering them to achieve optimal vitamin B12 absorption and improve their overall health and well-being. Please refer to our Human Practices page for our outreach with various customer and stakeholder groups.

Buisinesss Model Canvas

Our venture in entrepreneurship centers around the development and commercialization of a groundbreaking probiotic supplement aimed at enhancing vitamin B12 absorption through the introduction of gastric intrinsic factor (GIF). This has been aided by our team’s attendance at the iGEM Startup Summer School, which we have included our certificate of participation below.

We gained insight on how to further develop our entrepreneurship success, including tips for our business canvas. The business canvas encapsulates key aspects of our business strategy, including customer segments, value proposition, revenue streams, and more.

In our journey towards creating BloomBiota Probiotic, we recognize the crucial role that potential partners can play. These could include esteemed retailers such as pharmacies and grocery stores, who may become key distribution channels for BloomBiota. Shipping companies would be essential for ensuring timely delivery, while packaging companies and graphic designers could provide expertise in creating visually appealing product packaging. Marketers and advertisers would play a pivotal role in helping us reach those who need us most. Additionally, seeking support and guidance from provincial and federal governments, regulatory bodies, the iGEM Foundation, stakeholders, and the broader industry is integral to our success. The University and potential financial sponsors, along with trusted lab suppliers, are identified as key entities that could significantly contribute to our initiative.

At the heart of our success would lie a wealth of potential resources that could power BloomBiota Probiotic from ideation to realization. This includes the intellectual prowess of our team, marked by their problem-solving abilities, creativity, and deep understanding of the field, which would be instrumental. Our network of industry connections could potentially open doors to invaluable insights and support. Physical materials such as lab supplies and packaging resources could be the building blocks of our innovation, while a dedicated lab space would provide the fertile ground for our experiments. Safeguarding our intellectual property through patents and other means would be crucial for future growth.

Our commitment to excellence would permeate through every facet of our potential operations. We envision offering exceptional customer service, ensuring that every interaction with BloomBiota leaves a positive, lasting impression. An efficient HR Department would cultivate a collaborative and productive work environment, while a legal team would safeguard our interests and ensure compliance. A financial and accounting team would ensure our fiscal responsibility and transparency. In our envisioned Research & Development endeavors, we would leave no stone unturned to refine and improve BloomBiota. Our manufacturing process would adhere to the highest standards, guaranteeing a product of unparalleled quality. Extensive market research would guide our potential advertising efforts, ensuring that BloomBiota reaches those who stand to benefit most.

Building and sustaining BloomBiota Probiotic would be a multi-faceted endeavor that involves various potential costs. These could include fees associated with patents and other intellectual property protection. Our sales strategy, encompassing both online and retail channels, would require careful investment. Wages for our start-up employees, the lifeblood of our operations, would represent a significant part of our potential expenditure. Operational costs, including rent for our lab space, research and development expenses, and marketing and advertising efforts, would be essential investments in our growth. Additionally, we would anticipate collaborating closely with potential retailers, which might involve fees to ensure our product is readily available to the wider public.

BloomBiota Probiotic envisions itself as a beacon of hope for those affected by vitamin B12 deficiency. Our project was designed for the efficient absorption of this essential nutrient, promoting overall health and well-being. By addressing a widespread deficiency, we aim to fill a critical gap in public health. Accessibility would be at the core of our potential mission, with BloomBiota potentially available both in-store and through online sales. We anticipate working tirelessly to ensure affordability and convenient usage, so that BloomBiota can potentially be a part of everyone's path to better health.

Our revenue model is designed to be versatile and accessible to all potential customers. We would potentially offer BloomBiota Probiotic through one-time purchases and also offer the convenience of a potential monthly subscription. Customers could potentially purchase through our official website or through trusted third-party retailers, ensuring that BloomBiota is readily available to all who seek its benefits.

Our potential outreach would be expansive, leveraging multiple potential channels to connect with our audience. Social media platforms would provide an avenue for direct engagement, allowing us to share our story and connect with a broader community. Our official website would serve as a hub of information and a seamless purchasing platform. Partnering with potential pharmacies and grocery stores could extend our reach to physical spaces where our customers frequent, ensuring convenience and accessibility.

BloomBiota Probiotic is designed with a diverse range of individuals in mind. From the elderly population seeking to enhance their vitality, to women and pregnant women prioritizing their health, and vegans and vegetarians with unique dietary considerations, we envision being dedicated to providing for all. We also aim to cater to those with gastric intrinsic factor deficiency, ensuring they receive the vital nutrients they need. Recognizing the potential link between poverty and malnutrition, we anticipate working to ensure our product is accessible to low-income individuals. Ultimately, our potential mission is to promote the well-being of the general population, making BloomBiota a potential solution for all.

For BloomBiota, our relationship with our customers would not just be transactional, but deeply personal. We anticipate being committed to a three-tiered approach: Getting, Keeping, and Growing. We would seek to get our message out through various potential channels, including advertising, endorsements from medical professionals, and the powerful testimonials of our satisfied customers. We would aim to keep our customers by delivering a high-quality product and unparalleled customer service. We would value their feedback and incorporate it into our ongoing efforts to improve. Through potential loyalty programs, we aim to foster a sense of belonging and appreciation. Finally, we would aim to grow our customer base by expanding our presence to multiple locations, making BloomBiota accessible through various distribution channels, and through a user-friendly website that enhances their experience.

With BloomBiota Probiotic, we wouldn't just be planning to sell a product, but nurturing a healthier, more vibrant potential future for all.

As we venture into the realm of probiotic innovation, it's imperative to understand the dynamics of our potential market. This is where the TAM-SAM-SOM framework comes into play, providing a structured approach to assess and target our audience effectively. The Total Addressable Market (TAM) paints a comprehensive picture of the entire market demand for our probiotic. It encompasses a diverse range of potential customers, from individuals with specific nutritional needs like vitamin B12 deficiency to health-conscious consumers seeking wellness solutions. Moving forward, we narrow our focus to the Serviceable Addressable Market (SAM), a subset within the TAM that we can effectively target. This phase is pivotal, honing in on individuals actively seeking probiotic supplements, particularly those with vitamin B12 deficiency. As we further refine our strategies, the Serviceable Obtainable Market (SOM) becomes the pragmatic benchmark. It represents the portion of the SAM that we can realistically capture, accounting for competitive landscapes, market saturation, and resource constraints. This strategic framework will serve as our compass, guiding our efforts to make a meaningful impact in the probiotic industry.

In the context of our probiotic venture, the Total Addressable Market (TAM) encompasses the entire demand for our product across the market. This includes not only individuals specifically seeking vitamin B12 supplementation, but also a broader audience interested in probiotics for overall health and wellness. This broader scope extends to health-conscious consumers, vegans/vegetarians, and those with digestive concerns. By considering this expansive view, we aim to capture a wide segment of potential customers who stand to benefit from our probiotic's unique features.

The Serviceable Addressable Market (SAM) represents a more refined subset within our TAM. This segment is characterized by individuals with vitamin B12 deficiency and those actively seeking probiotic supplements. In this phase, our strategies will be tailored to specifically target and cater to the needs of this demographic. This will involve crafting targeted marketing messages and utilizing specialized distribution channels to effectively reach and serve this particular group of potential customers.

Further honing our focus, the Serviceable Obtainable Market (SOM) is a pragmatic refinement of our SAM. It signifies the portion of our SAM that we can realistically expect to capture, accounting for factors such as market competition, saturation, and resource constraints. The SOM hinges on the uniqueness and effectiveness of our probiotic, the level of competition in the market, and the reach of our marketing and distribution channels. By setting realistic expectations grounded in these considerations, we aim to ensure a strategic and sustainable market penetration.

Our market analysis reveals a significant unmet need for a natural and effective solution to vitamin B12 absorption issues caused by GIF deficiencies. The available markets encompass health and wellness, dietary supplements, and individuals seeking innovative approaches to improve their nutritional status. There’s a growing awareness of the importance of vitamin B12 for overall health, and as such consumers are increasingly seeking supplements with transparents sourcing, quality assurance and bioavailability.

We've conducted a thorough assessment of existing solutions and competitors in the market. Our unique value proposition, centered around the introduction of GIF-producing probiotics, positions us as a pioneering force in the field of vitamin B12 supplementation. In the realm of vitamin and supplement markets, several noteworthy contenders vie for prominence. Danone's Activia yogurt stands out as a globally recognized brand, celebrated for its premium positioning in the digestive health sector. Yakult, with its probiotic-rich milk beverage, has garnered a significant market share. Kombucha, a fermented tea renowned for its probiotic benefits, has found its niche in health and organic food stores worldwide. Jamieson Vitamins and Nature's Bounty are trusted names, offering a wide array of supplements, while Webber Naturals boasts a diverse product line focused on natural health solutions. Generic brands, often affiliated with major retailers, provide budget-friendly alternatives, albeit with potential quality trade-offs. Pre-workout supplements, a staple in fitness circles, often feature heightened levels of B vitamins, while CanPrev caters to a discerning clientele with its premium, lab-tested offerings. In the realm of medical interventions, vitamin B shots hold sway, appealing to those seeking a direct and potent administration of essential nutrients. This market landscape presents a diverse array of options, each with its own strengths and target demographics, setting the stage for potential innovation and differentiation. However, no company sells a probiotic that targets the root cause of vitamin B12 deficiency, which is the gastric intrinsic factor, making BloomBiota a cutting edge business venture. Understanding consumer preferences and addressing potential gaps in the market, such as accessibility for low-income individuals, could provide a competitive edge for BloomBiota.

Our strengths lie in our scientific expertise, innovation, and the potential to revolutionize vitamin B12 supplementation. However, we acknowledge the challenges in regulatory compliance and the need for robust IP protection strategies. Please refer to our IP protection section and our interview with an IP expert on our Human Practices page for more details. Conducting a SWOT analysis is a pivotal step in harnessing the innovative power of our project. The acronym, which stands for Strengths, Weaknesses, Opportunities, and Threats, encapsulates the comprehensive evaluation of internal and external factors that influence the trajectory of our business. This analysis empowers us to identify and leverage our inherent advantages, address potential vulnerabilities, seize promising opportunities, and proactively mitigate looming threats. By meticulously examining these facets, we not only gain a profound understanding of our venture's intrinsic capabilities and limitations but also gain insights into the broader market landscape. This knowledge equips us with a strategic compass, enabling us to chart a course that maximizes our strengths, minimizes our weaknesses, capitalizes on opportunities, and effectively guards against potential pitfalls. In essence, the SWOT analysis serves as a critical foundation upon which our commercialization strategy is built, ensuring it is well-informed, adaptable, and poised for success in the dynamic entrepreneurial environment.

With access to a diverse pool of experts, including professors, our team benefits from a wealth of knowledge and guidance.

Our probiotic offers a distinctive advantage by the Gastric Intrinsic Factor, setting us apart in the market.

This unique feature significantly enhances nutrient absorption, giving our product a competitive edge.

Backed by strong institutional support, we have year-round access to resources and a wide array of opportunities.

Our project is founded on a well-documented history and proven use of bacterial strains, particularly in the production of B12 and B9.

By choosing a project with established scientific foundations, we increase the likelihood of success in the lab.

Equipped with a designed pill packaging machine and a skilled modeling team for toxicity assays and tests, we can test the effectiveness and safety of our product.

As a student team, we have unique access to collaborations and potential funding opportunities, showing our commitment to education and innovation.

Our team excels in coordination and collaboration, leveraging each member's strengths for maximum impact.

As a student team, we may face initial skepticism from the public due to our status and the absence of established industry credentials.

Overcoming doubts about our reliability and trustworthiness may be a hurdle, especially in the early stages.

Funding limitations, particularly for expensive components like patents, could potentially slow down our progress.

The process of obtaining licensing and approval may be lengthy, affecting our time to market

Frequent turnover in student team executive positions may present continuity challenges.

Without specialized teams like regulatory affairs, we may face challenges in navigating regulatory requirements.

Competing with companies possessing extensive industry experience and resources may pose a challenge.

Tailoring our campaigns to specific demographics and emphasizing the unique benefits of our product can enhance our market penetration.

The broad appeal of our product provides us with a wide-ranging customer base to tap into.

Aligning with our university's sustainability initiatives for eco-friendly lab practices and products can boost our appeal to environmentally conscious consumers.

Exploring various product formats (powder, capsule, liquid) allows us to cater to a wider audience.

Providing accurate and science-backed information sets us apart from competitors with potentially misleading claims.

Competing against well-established industry players with greater experience and credibility is a significant challenge (Gans & Stern, 2003).

Navigating potential conflicts related to intellectual property, pre-existing patents, and copyright claims requires careful consideration.

Established companies may have the financial resources to bring a similar product to market faster, potentially overshadowing our unique supplement.

Facing competition from established probiotic brands poses a challenge, but our unique supplement offers a distinctive advantage.

Adapting to evolving consumer preferences, including the move towards "all natural" and concerns about GMOs, requires careful consideration and communication strategies.

Our value chain extends from upstream production, including genetic engineering and strain development, to downstream distribution and marketing. We aim to establish strategic partnerships for manufacturing and ensure seamless distribution channels. Here’s a value chain analysis tailored to the development of BloomBiota:

Primary Activities

Initial planning and outlining of the project scope, objectives, and milestones.

Sourcing and securing funding for laboratory operations, equipment, and supplies.

Procurement of necessary materials, chemicals, and equipment for both wet and dry labs.

Recruiting and assigning roles for team members in wet lab, dry lab, business, collaboration, and executive functions.

Conducting in-depth studies on the gastric intrinsic factor and probiotic formulation.

Navigating the regulatory process, including seeking approval from Health Canada for research and development.

Adapting the product formulation to meet the regulatory standards set by Health Canada.

Establishing processes for manufacturing the probiotic, including strain cultivation and formulation.

Developing methods to convert the probiotic strain into a pill form for consumer convenience.

Acquiring or designing a machine to efficiently package the probiotic pills.

Planning and executing marketing strategies to create awareness about BloomBiota.

Creating appealing packaging designs and informative labels for the product.

Implementing advertising campaigns across various channels to promote BloomBiota.

Establishing collaborative ventures with other organizations for joint marketing efforts.

Identifying and establishing partnerships with retailers to distribute BloomBiota.

Exploring partnerships with pharmacy chains for widespread availability.

Setting up partnerships with e-commerce platforms for online sales.

Arranging logistics and methods for shipping BloomBiota to retailers and consumers.

Providing avenues for consumers to offer feedback and address any inquiries or concerns.

Gathering and analyzing customer feedback to inform product improvements.

Inbound Logistics:

Managing the procurement and storage of lab supplies and equipment.

Defining and optimizing laboratory processes and workflows for both wet and dry lab.

Organizing the distribution of BloomBiota to retailers and customers.

Supporting marketing efforts with data analysis, customer segmentation, and sales strategies.

Providing customer support for inquiries, feedback, and product-related issues.

This value chain analysis provides a comprehensive overview of the activities involved in the development and commercialization of BloomBiota Probiotic by an iGEM student team. It highlights the critical steps from initial planning to product distribution, and identifies the support activities that facilitate the primary processes.

Pipeline Strategy:

Our pipeline strategy encompasses a comprehensive roadmap for the development and commercialization of our probiotic supplement. It outlines key stages, from research and development to market entry, ensuring a systematic approach towards success.

Step 1: Concept Development

Develop a high-quality probiotic supplement that enhances vitamin B12 absorption through the gastric intrinsic factor.

Provide a solution for individuals with B12 deficiency or absorption issues.

Create a product that meets or exceeds industry standards for efficacy and safety.

Individuals with known B12 deficiency or absorption difficulties.

Health-conscious consumers seeking premium supplements.

Allocate initial capital from investors, grants, and potential crowdfunding campaigns.

Explore partnerships with health and wellness organizations for co-funding opportunities.

Step 2: Research

Identify and analyze key competitors in the probiotic supplement market.

Evaluate market trends, growth potential, and consumer preferences.

Identify Strengths, Weaknesses, Opportunities, and Threats to inform strategic decisions.

Investigate and comply with patents and regulatory guidelines set forth by Canada's Natural Health Products Directorate (NNHPD).

Understand consumer behavior, preferences, and pain points related to probiotic supplements.

Identify optimal pricing, distribution channels, and promotional strategies.

Step 3: Creating the Product

Source high-quality probiotic strains, excipients, and packaging materials.

Procure state-of-the-art manufacturing equipment for optimal production.

Conduct iterative trials to determine the most efficient and effective method for producing the probiotic supplement.

Step 4: Testing and Feedback

Conduct rigorous testing for potency, purity, and safety.

Seek feedback from a panel of experts, including healthcare professionals, to validate product efficacy.

Step 5: Manufacturing Final Product and Packaging

Establish a dedicated manufacturing line with stringent quality control measures in place.

Collaborate with the engineering team to design and implement specialized packaging that ensures product stability and freshness.

Step 6: Sales and Marketing Plan

Develop a multi-channel approach, including direct-to-consumer sales via the website, partnerships with health retailers, and potential e-commerce platforms (Amazon, etc.).

Implement targeted digital marketing campaigns to reach the identified consumer segments.

Leverage social media, influencer marketing, and content marketing to increase brand visibility.

Step 7: Release Product to Market

Launch the probiotic supplement with a comprehensive marketing campaign to generate initial traction and brand awareness. Monitor sales performance and gather customer feedback for continuous product improvement.

By following this comprehensive manufacturing plan, we aim to produce and successfully launch a probiotic supplement that not only addresses a specific health need but also meets the highest industry standards for quality and efficacy.

The commercialization environment for BloomBiota is shaped by several key factors and trends in the health and wellness industry including:

There is a growing trend towards health-conscious consumer behavior, with individuals seeking out products and solutions that support overall well-being and preventive healthcare.

The probiotics market has experienced significant growth in recent years, driven by increasing awareness of the benefits of gut health and the microbiome. Consumers are actively seeking probiotic supplements and functional foods.

Consumers are increasingly looking for products backed by scientific evidence and research. BloomBiota's inclusion of the gastric intrinsic factor addresses a specific deficiency concern with robust scientific backing, providing a competitive edge.

The health and wellness industry is heavily regulated, and consumers are vigilant about the safety and efficacy of products they consume. Ensuring compliance with all relevant regulatory standards will be crucial for market acceptance.

The prominence of digital platforms and e-commerce in consumer shopping behavior cannot be understated. A strong online presence, user-friendly e-commerce platform, and effective digital marketing strategies will be essential for reaching a wide audience.

Endorsements and recommendations from healthcare professionals, including dietitians, nutritionists, and physicians, can significantly boost consumer confidence in BloomBiota's efficacy and safety.

The probiotics market is competitive, with established players and new entrants vying for market share. Conducting a thorough analysis of competitors, differentiating BloomBiota's unique selling points, and offering superior quality will be key to success.

Consumers are increasingly concerned about sustainability, ethical sourcing, and environmentally responsible practices. Demonstrating a commitment to these principles can enhance brand reputation and appeal.

As the health and wellness industry is not limited by geographical boundaries, there may be opportunities for international expansion, especially in regions with a high prevalence of vitamin B12 deficiency.

Collaborations with healthcare providers, wellness clinics, and other healthcare institutions can help position BloomBiota as a trusted solution for vitamin B12 deficiency, backed by medical expertise.

The COVID-19 pandemic highlighted the importance of supply chain resilience and preparedness. Developing contingency plans and ensuring a robust supply chain will be crucial for uninterrupted product availability.

By understanding and effectively navigating this commercialization environment, BloomBiota Probiotic can position itself as a leading solution for individuals seeking to address vitamin B12 deficiency and improve their overall nutritional well-being.

PEST Analysis:

Furthermore, our team did a PEST analysis to help craft a commercialization strategy. The PEST analysis, which evaluates the Political, Economic, Social and Technological factors influencing a venture. In the complex landscape of entrepreneurship, understanding the external forces that can shape or disrupt our business venture is paramount. Each facet of the PEST analysis shapes our probiotic’s path to market.

Trade Regulations in Canada: Understanding and navigating the taxation policies on imports and exports to different countries is crucial for international trade. This affects our ability to access and serve specific markets (Government of Canada, 2022; Health Canada, 2023).

Inflation and Rising Healthcare Costs: The rising costs of healthcare products and services, coupled with inflation, can impact the affordability and accessibility of our probiotic. This includes fluctuations in raw material costs which can affect production (Barghiel, 2023; Evans, 2023).

Genetic Engineering and GMOs: There is a widespread sentiment against genetic engineering and GMOs in some segments of society (Roseboro, 2018). Addressing concerns and being transparent about our product's composition will be crucial.

Advancements in Laboratory Methods: The growing repertoire of laboratory methods provides opportunities for in-depth investigations into probiotic strains and their effects on health (Spacova et al., 2020). This could potentially lead to groundbreaking insights.

In conclusion, navigating the political, economic, social, and technological landscape is essential for the successful commercialization of our probiotic. Adapting to these factors and leveraging them as opportunities will be key to our venture's success.

The commercialization strategy used by BloomBiota will encompass the following key elements:

Conduct an in-depth analysis of the target market, identifying demographics, preferences, and purchasing behavior. Segment the market to tailor messaging and distribution channels effectively.

Establish BloomBiota as the foremost authority in probiotic solutions, emphasizing its revolutionary inclusion of the gastric intrinsic factor. Develop a compelling brand identity that resonates with health-conscious consumers.

Forge strategic partnerships with health and wellness retailers, pharmacies, and e-commerce platforms to ensure wide accessibility. Implement a direct-to-consumer model through a user-friendly e-commerce platform.

Execute a multi-channel marketing campaign encompassing digital advertising, social media engagement, influencer partnerships, and content marketing. Leverage educational content to highlight the benefits of BloomBiota and its scientific underpinnings.

Ensure full compliance with all relevant regulatory bodies and standards, underscoring BloomBiota's commitment to safety and efficacy.

Intellectual Property:

As part of our Human Practices work, we met with David Hobson, an IP specialist at the University of Guelph. This meeting is described in detail on our Human Practices page. In this meeting with David we gained crucial insights into the nuanced relationship between patents and trade secrets in the realm of innovation. David emphasized the potential protection patents offer and walked us through the rigorous criteria they must meet, including novelty, utility, and non-obviousness, which is particularly challenging in genetic fields. He also provided key details about patent application timelines, validity periods, and geographical specificity. Moreover, David highlighted the strategic considerations behind intellectual property decisions, distinguishing between patents and trade secrets, a vital distinction in the probiotic industry.

Given that our project is a novel endeavor, pursuing a patent would be a possibility. This patent would serve as a tangible form of protection, reinforcing our IP rights. We understand that patents have specific timelines and geographic scopes, and we will tailor our strategy to target countries where our project could have significant impact. Moreover, we will be diligent in presenting and weighing the importance of patenting based on expert feedback, ensuring a thoughtful and strategic approach.

Commercialization Barriers:

While we are confident in the innovative potential of our probiotic, we acknowledge potential barriers that may arise during the commercialization process:

Our stakeholder meetings highlighted the importance of adhering to federal and provincial regulations, especially in the context of producing a product with direct health implications like our probiotic. Ensuring compliance with Good Manufacturing Practices (GMP) and Hazard Analysis and Critical Control Points (HACCP) standards is paramount.

Risk Analysis & Risk Management:

We've identified potential risks, including regulatory hurdles, competitive challenges, and supply chain disruptions. Each risk is accompanied by a comprehensive risk management strategy to mitigate its impact. Please see below for the risk analysis and review our interview with a Project Management expert on our Human Practices page for more details.

Exit Strategy:

While we're committed to the long-term success of our probiotic supplement, we recognize the potential for partnerships, collaborations, or acquisitions that may further accelerate our impact on the market.

For a student funded team contemplating an exit strategy, a merger or acquisition involving Jamieson Wellness could be a game-changer. Particularly, given their track record of successful acquisitions and their strong presence in the health and wellness sector, joining forces with Jamieson could propel your probiotic, designed to enhance vitamin B12 levels through the gastric intrinsic factor, to new heights. With their established global network and commitment to innovative, high-quality supplements, a partnership with Jamieson Wellness promises not just financial success, but an opportunity to make a meaningful impact on the world of health and wellness.

Jamieson Wellness stands as a powerhouse in the health and wellness industry, boasting a staggering yearly revenue that exceeded half a billion dollars in 2022, as revealed in their meticulously detailed annual report (Jamieson Wellness, 2023). Their flagship brand, "Jamieson Vitamins," commands a prominent presence both in physical stores and across a multitude of online platforms, including their own website, Amazon, Walmart, Shoppers Drug Mart, London Drugs, Rexall, Well.ca, and many more. What sets Jamieson apart is their global footprint, with products reaching beyond Canadian borders to over 45 countries and regions worldwide (Jamieson Wellness, 2023).

Contributing to Sustainable Development Goals (SDGs)

Overview

In 2015, the Sustainable Development Goals (SDGs) were adopted by the United Nations (UN). These goals consist of 17 individual goals that recognize poverty is the route of all hardship (United Nations, n.d.). It has been pledged by members of the UN to achieve these goals by the year 2030. (United Nations, n.d.) However is this achievable?

Our team believes that these goals can be positively impacted and achieved through synthetic biology, furthering Canada and the UN into meeting their mandate to achieve the 17 SDGs. Here at iGEM Guelph we are using our B12 probiotic to aid in accomplishing multiple SDGs.

In Canada, vitamin B12 deficiencies are becoming a growing concern. In 2021, 18.5% of Canadians were 65 or older and this percentage will rise to 29% by 2068 (Statistics Canada, 2022). This is a concern, as some diseases that are common in the elderly such as dementia are exacerbated by vitamin B deficiency and vitamin B deficiency can lead to cognitive decline that mimics Alzheimer’s disease (Andrès et al., 2004). The solution to this should be taking more vitamin B, however in 60% of those 65 and older, have reduced absorption of vitamin B12, so even taking more B12 will not fix their vitamin deficiency (Andrès et al., 2004; Rémond et al., 2015). Another cause for concern is the dietary changes society has been facing in more recent years (Flanagan, 2018). Vegetarian and vegan diets (whether due to dietary or religious or personal choice) have increased in popularity. In these diets cobalamin deficiencies are common (Singla et al., 2019). In 2018, over 3 million Canadians were vegan or vegetarian compared to the 900,000 Canadians in 2003 (Flanagan, 2018). Furthermore, cobalamin deficiency is common in lower-middle income economies. In India, 47% of those that live in the Northern area of the country suffer from cobalamin deficiency (Singla et al., 2019) This would also be true in Canada in those that are lower income and live below the poverty line, as there is a vicious cycle between malnutrition and poverty (Siddiqui et al., 2020).

So why does this matter?

“End hunger, achieve food security and improved nutrition and promote sustainable agriculture”

This goal aims to ensure that access to proper nutrition is accomplished worldwide. In Canada, with grocery stores creating a monopoly that has led to price gouging and steep inflation (Barghiel, 2023; Evans, 2023). The Canadian government has had insufficient actions regarding the increasing cost of groceries and rising price of living which has led to many families struggling to live (Barghiel, 2023; Evans, 2023). It is often seen that those that live below the poverty line struggle to receive proper nutrition due to the vicious cycle of poverty and malnutrition (Siddiqui et al., 2020).

“Ensure healthy lives and promote well-being for all at all ages”

This goal aims to protect well-being in all, especially children and pregnant women and the elderly (Rémond et al., 2015; Statistics Canada, 2023). With Canada, having an ever growing elderly population, we will see vitamin B deficiencies rise over the next decade. As vitamin B deficiencies are linked to brain ailments and other diseases, having a vitamin B12 deficiency affects a person's quality of life (Al-Awami et al., 2023; Andrès et al., 2004; Ankar & Kumar, 2022; Stabler, 2013; Wong, 2015). This deficiency is extremely common in the elderly and as such, can have serious impacts on their health (Andrès et al., 2004; Wong, 2015). Some common health conditions that result from vitamin B12 deficiency include anemia, neurological problems and cognitive impairment and cardiovascular issues (Al-Awami et al., 2023; Ankar & Kumar, 2022; Andrès et al., 2004; Stabler, 2013; Wong, 2015).

BloomBiota, is a probiotic that contains the gastric intrinsic factor, which is a human protein necessary for the uptake of vitamin B12 into our bodies (Al-Awami et al., 2023; Stabler, 2013). This will ensure that those who take BloomBiota will one be capable of absorbing the vitamin that they are deficient in to mitigate the impacts of the vitamin deficiency. This revolutionary development not only holds immense promise for individuals grappling with vitamin B12 deficiency but also carries far-reaching implications for public health on a global scale. By mitigating the pervasive impacts of vitamin deficiency, BloomBiota takes a proactive step towards fulfilling the objectives set forth in Sustainable Development Goals 2 and 3.

BloomBiota, holds immense potential in addressing vitamin B12 absorption issues. By providing a targeted and innovation solution, we anticipate several positive impacts:

- Improved Health and well-being: Individuals suffering from vitamin B12 deficiency will benefit from our supplement, experiencing improved overall health and vitality.

- Contribution to Sustainable Development Goals (SDGs): Our project aligns with SDG 2 - Zero Hunger and SDG 3 - Good Health and Well-being, as it directly addresses a nutritional deficiency that impacts millions worldwide.

- Scientific Advancement: By harnessing genetic engineering techniques to develop a probiotic solution, our project contributes to the advancement of synthetic biology and genetic engineering fields.

While we are committed to maximizing positive outcomes, we are mindful of potential challenges and negative impacts that may arise:

- Competitive Market Challenges: The nutritional supplement market is highly competitive, which may pose challenges in establishing a unique market presence and differentiating our product.

- Consumer Acceptance and Adherence: Convincing consumers of the benefits of our probiotic supplement and ensuring consistent adherence to the recommended dosage may require targeted education and marketing efforts.

- Regulatory Compliance and Certification: Meeting stringent regulatory standards for probiotic supplements can be resource-intensive and time-consuming. Non-compliance could lead to delays or setbacks.

- Intellectual Property Disputes: Potential intellectual property conflicts with other companies holding similar patents or technologies may arise, necessitating legal and financial resources.

- Environmental Impact: The production and distribution of the probiotic supplement may have an environmental footprint. Implementing sustainable practices will be crucial to mitigate this impact.

- Ethical Considerations: Ethical considerations surrounding genetic engineering and the potential long-term impacts of probiotic supplementation should be carefully weighed and addressed.

- Market Adoption and Education: Effectively educating healthcare professionals, consumers, and stakeholders about the benefits of our probiotic supplement may require extensive marketing efforts and partnerships with healthcare providers.

- Healthcare System Integration: Integrating our probiotic supplement into existing healthcare systems and practices may face challenges related to reimbursement, prescription protocols, and acceptance by healthcare providers.

By proactively acknowledging these potential negative impacts, we are equipped to navigate the complexities of bringing our probiotic supplement to market. Through strategic planning, robust risk management, and a commitment to ethical and sustainable practices, we aim to maximize the positive impact of our project on global health and well-being.

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