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On this episode, Vinay is joined by Johannes, CEO of Clustermarket, an online sharing platform connecting researchers in the science and healthcare space to scientific equipment on-demand at leading institutions. The ability to share and book equipment online enables access to tools that can help people innovate faster. Learn about Clustermarket’s why, how and what.
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Topics Covered in this Episode:
- Identifying the Problem
- How it Works?
- Income Generation
- Building Partnerships
Identifying the Problem
- People in the life sciences field have ideas but often don’t have the equipment they need with high barriers to entry.
- One of the co-founders realised the need when he was conducting experiments in the lab and didn’t have instruments needed but wondered ‘what would happen’ if he had what he needed on demand.
- They pitched the idea to universities and pharmaceutical companies and conducted a pilot.
“We believe innovation is limited to those who have done it before, have a strong track record and are selected by a few gatekeepers who provide money to purchase resources to hit milestones and prove an innovation.”
- Equipment type ranges from pre-clinical research to lab space.
- They have 2500 instruments available on the platform from basic equipment such as centrifuges to specialised equipment such as microscopes worth millions.
How it works?
- Scientist wants to do research.
- Scientist signs up on platform free of charge and can search for service or equipment needed.
- Scientist is able to see where service or equipment is available.
- Request access and communicate with provider through the platform to answer all questions.
- Lab manager can pre-approve and then requester agrees to the terms and provides payment.
- Equipment can be offered from providers with training, a technician or full service.
“We thought why don’t we use existing resources more sustainably and efficiently to create more outcome.”
- The platform model is similar to Airbnb and other online marketplaces.
- Income is generated from the commission of successful transactions.
- Platform can be used internally within institutions for a subscription fee.
- University College of London bought into the idea because they had purchased a lot of equipment that wasn’t being used efficiently.
- As more universities came on board, trust was built with universities and lab managers in regards to the model.
- Relationships are important to build trust with both the lab managers as well as the end-user.
- Over 280 companies and over 450 labs are using the platform in both large and smaller universities.
- Analysis indicates the potential of getting into over 10,000 labs first in the European and then the global market with the primary goal of opening collaboration opportunities.
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