Redesigning business model for a better route to market Case Study

Plasma Green Tech Ltd.

Plasma Green Tech Ltd. (PGT) is a provider of gas plasma consulting services in Ireland. PGT delivers innovative plasma based solutions for both business and government clients, helping them find viable alternatives for their ongoing research challenges. Consulting services are performed on both short and long-term projects, offering clients the flexibility to support any size and type of project.  PGT’s vision is to become a leading and most innovative green tech company to tackle the current and future environmental crisis. 

Plasma Green Logo

The Challenge

Company Director, Dr. Gurusharan Gogna, has long recognised the capabilities of Plasma Tech based products in providing clean solutions to the factors contributing to air and water borne diseases. The challenge was understanding how these capabilities could be realised in a practical and enforceable way and, for assistance with this, he teamed up with RIKON, WIT.. The aim was to identify market size, market dynamics and the overall structure of the environmental sector.

RIKON’s Assistance

Throughout the course of the project, RIKON worked with Dr. Gogna to fully understand the technology and its capabilities. Clarity was required around the business model and route to market for the eventual product and a Pain-Gain canvas was used to identify the needs and desires of the customer segments PGT would eventually target. Knowing that PGT’s technology was well suited to solving environmental problems in particular, RIKON’s investigations focused almost exclusively on this element of the market. The findings of this research helped PGT prepare a strong business plan to apply for funding.

The Strategy

The objective is to understand the capabilities of Plasma Technology – but before realising this potential there is much development work to be carried out and investment required from Irish or international funding bodies. The immediate strategy as recommended by RIKON involved the completion of a cost- benefit analysis to present to potential investors – RIKON had already ascertained the market opportunity but there remained work on costing R&D.

Extensive advice was given around funding opportunities and how academic and commercial funds may be exploited to realise the potential of the product. Dr. Gogna and RIKON will continue to work together to ensure that the business elements of the venture such as the business model, market strategies and market intelligence are kept up to date while product development continues

Gurusharan Gogna, Director, Plasma Green Technology Ltd.,

RIKON is a team of like-minded and self-driven experts. They help businesses revisit their business strategy and provide innovative ideas to compete in the market. RIKON members significantly improved our business model and made it investor ready. RIKON are well connected in the market whether you need to initiate a collaboration for your business or to get expert advice which start-ups like PGT are always looking for. Would highly recommend RIKON to all businesses.