Ideas + Insights
Spotlight: ICA and TekCyte’s Growth Journey
In the ever-changing landscape of medical technology, navigating the pathway from innovation to market can be a big challenge. TekCyte, a pioneering player in the field, recognised the need for strategic support to drive the commercialisation and global outreach of their groundbreaking medical innovation.
Industry Commercialisation Agency (ICA) helped TekCyte as a trusted partner renowned for its expertise in helping companies transform ideas, products and services into marketable realities. Explore the collaborative journey between ICA and TekCyte, highlighting the pivotal role we played in spearheading TekCyte’s investment attraction campaign.
The Medtech Challenge
With a complex product and the inherent intricacies of the medtech industry, attracting funding posed a significant hurdle as many crowdfunding companies wouldn’t work with such a complex industry.
Effectively communicating TekCyte’s value proposition to potential investors necessitated a nuanced approach, one that we were uniquely equipped to provide.
The Collaborative Approach
Recognising the need for a tailored strategy, TekCyte enlisted the expertise of ICA, leveraging our proven track record in facilitating successful investment attraction campaigns. Drawing on a longstanding relationship built over several years of collaboration, ICA embarked on a comprehensive approach to drive investment attraction for TekCyte.
Our Strategic Execution
ICA’s strategic framework encompassed three key phases: awareness, expression of interest (EOI), and commitment. Central to this approach was the creation of a dedicated investment attraction campaign, seamlessly integrated into both TekCyte’s and ICA’s online platforms.
Leveraging a blend of paid and organic social media initiatives, alongside targeted press releases and advertorials, ICA coordinated a multi-faceted outreach effort successfully engaging over 50 potential investors.
The Facebook campaign saw great result for TekCyte, with 2,230 clicks on investor ads showing strong engagement and 327,000 impressions. On LinkedIn, there was a noticeable increase in followers, indicating growing interest. TekCyte’s posts received 2,905 impressions, boosting brand visibility within the professional community.
During the September-October campaign, TekCyte’s website saw a big increase in visitors: 949 sessions from 685 different users. The TekCyte EOI investment page alone received 730 views, showing strong interest in the opportunity.
The campaign extended beyond digital realms, encompassing interactive webinars, info sessions, and personalised meetings with TekCyte’s leadership team, including CEO Tony Simula.
Prior to these engagements, TekCyte received pitch training and coaching from ICA, ensuring they could confidently and effectively communicate their vision and value proposition, as showcased in the investor pitch video (see below).
The Power of Collaboration
At the heart of this endeavour was ICA’s commitment to providing a holistic support system for TekCyte. Beyond traditional marketing and PR, ICA tapped into its diverse pool of seasoned professionals with expertise in sales, business development and investor attraction. This one-stop approach ensured TekCyte had access to a comprehensive spectrum of resources, tailored to their unique needs.
ICA CEO Tara James, worked closely with the TekCyte CEO and Board, to ensure seamless communication and alignment throughout the campaign. Her expertise facilitated effective collaboration, contributing significantly to the campaign’s success.
“The team has been able to grasp our company’s vision and translate that. They are very professional, quick to respond and very good at what they do. Most of all, it is easy-going and fun to work with,” said Tony.
The impact of ICA’s support was evidenced by the influx of investment inquiries. Remarkably, within a span of just two months, ICA facilitated a greater volume of investment leads than what traditional investment channels typically achieve in six months. This resounding success highlighted the efficacy of the collaborative approach championed by ICA and TekCyte, setting a new standard for innovation and partnership in the medtech industry.
Moving Forward
In a landscape fraught with challenges, collaboration emerges as the cornerstone of success. The partnership between ICA and TekCyte exemplifies the transformative power of strategic collaboration, driving innovation and growth in the medtech sector.
As TekCyte continues its journey towards global market expansion, the foundation laid by ICA stands as a testament to the boundless possibilities that arise when expertise and vision converge.
