From Research to Real-World Impact
How Novy Helps Subject Matter Experts Bring Their Ideas to Market
In the world of research, the focus is often on results—gathering data, testing hypotheses, and pushing the boundaries of knowledge. But when it comes to translating that research into a product that people will pay for, many founders face a significant challenge.
This is especially true for those who come from highly specialized fields like healthcare, where the networks and experiences are deeply entrenched in academia and research.
At Novy, we understand the unique position these founders are in. Whether they are clinicians, researchers, or subject matter experts in their field, their expertise is valuable.
However, transitioning from the research phase to building a viable, sustainable business can feel daunting. Asking for a monetary commitment when the focus has been on scientific discovery takes some practice and preparation. That's where we come in.
The Challenge: Bridging the Gap Between Research and Commercialization
Founders from research-heavy backgrounds face several common challenges:
Grant Funding vs. Revenue Models: Many founders begin their journey with research grants, which are designed to fund discovery and innovation. The idea of asking customers to pay for the product or service takes a very different approach. Their network is often built on other researchers, not customers or investors.
Fear of Failure or Procrastination: The hesitation to fully commit to commercialization is common. The desire to keep refining the product, add a new feature, or conduct another round of tests may delay the transition from research to real-world application. But the truth is, this often stems from fear or procrastination—concerns about whether the market is ready or whether they’ll succeed.
Lack of Commercial Experience: The lack of experience in navigating business models, sales, and marketing means that many brilliant ideas never reach their full potential. Without a clear plan for how to build a business, even the most innovative product can get stuck in the development phase.
How Novy Bridges the Gap
At Novy, we partner with founders to help them navigate the road to commercialization. Our team has been through this process before, and we know how to take products from idea to market successfully.
We don't expect our founders to know everything about business best practices—we lean on our expertise to fill in the gaps while respecting and amplifying their deep industry knowledge.
Our 6-Stage Process
Novy’s six-stage process helps us discover commercialization paths early on, ensuring we ask the critical questions from day one, including “who will pay for this product?” and “how do we model a sustainable business?”
Here’s a glimpse into how we approach each stage:
Ideation - We work with founders to refine their idea, focusing on the potential market need and value proposition.
Validation - This is where we test the hypothesis, conduct market research, and ensure that there’s demand for the product. We start asking the hard questions about business model and willingness to pay.
Creation - Once the concept is validated, we work with the founder to build a product that meets market needs and is ready for real-world application.
Growth - At this stage, we help scale the business, focusing on user acquisition, marketing, and creating a sustainable revenue stream.
Spinout - Once the product has traction, we help spin it out as an independent entity, ready for fundraising or acquisition.
Exit - Finally, we help founders maximize the value of their business, whether through an acquisition, IPO, or other exit strategy.
A Co-Founding Partnership
At Novy, we don’t just provide advice or funding—we become true co-founders.
We work hand-in-hand with our partners, bringing both business expertise and operational support to the table. From the outset, we don’t expect our founders to have all the answers. Our goal is to bring together our strengths to create something even bigger than the sum of its parts. As we identify gaps, we hire the right talent to fill them.
A Streamlined Process to Market: 4-8 Months to Commercialization
While the journey from idea to commercialization depends on the product’s complexity, our process typically takes between 4 and 8 months. This allows us to rapidly identify the path forward, test assumptions, and start building momentum. We understand that speed is important, and we prioritize getting the product to market without sacrificing quality or feasibility.
The Novy Advantage
For founders who are experts in their field but may not have the business background to navigate the complexities of commercialization, Novy is here to help.
Our team has the experience and expertise to bridge the gap, asking the tough questions, making strategic decisions, and guiding the product to market readiness. We don’t just want to see your idea succeed; we want to help you build a sustainable business that can thrive in the real world.
If you’re ready to turn your research into real-world impact, submit an idea application to our team for review. We’re always looking for founders to connect with and fresh healthcare software ideas to explore.
Who knows, Novy may be the exact partner you need to turn your concept into reality.