Whether you are working with an established organization or a new start-up, having an in-depth knowledge of your competitors’ offerings, business model, and where they add value is crucial to facilitating the longevity of your organization. Who your competitors are is dependent on your overall business strategy and current situation. You may choose to focus on more local-level companies or expand your scope to other countries.
Finding Competitors
By Geography
To find other companies in a particular geographical area such as your immediate vicinity, you can use the Biotechgate Map Search feature. This gives you a rudimentary insight into what organizations are in your area, filtered by your desired industry.
The map results can be filtered by seven different areas:
- Biotech Therapeutics & Diagnostics
- Biotech / R&D Services
- Biotech – other
- Pharma
- Medical Technology
- Digital Health
- Other
This provides you with a surface-level overview of potential competitors. The map feature is also compatible with search results, allowing you to gain an even deeper look into the geographical locations of companies, assets, or out-licensing opportunities.
By Search
The database enables you to find information from over 1.4 million entries. With Biotechgate, you can find information on:
- Assets and technologies
- Clinical trials
- Financing rounds
- License agreements
- General company and management details
You can search by category or through text search if you have criteria in mind. There are a wide variety of filters available for each search, allowing you to pinpoint it to your specifications. For example, if you are searching for biotech companies, you can add criteria such as country, sub-sector, specializations, or the number of employees.
This can enable you to develop a qualitative overview of your competitors and allow you to predict what their movements may be in the future. It can also allow you to specify what strengths you can use to your advantage or what areas you need to revamp. Coupled with existing qualitative competitive evaluation methods like a SWOT, gap analysis, or a strategic stakeholder analysis, you can get a clear picture of where your organization holds a competitive advantage, what it may lack, and what it can improve upon.
It is important to store all gathered data in a single place to consult and ultimately analyze, such as a spreadsheet. With Biotechgate, you have the option to download the search results as an Excel file which you can then adjust as needed.
Stay Constantly Updated
To stay up-to-date, Biotechgate allows you to save searches and receive email alerts when a profile has been changed. With alerts, you will be instantly notified by email if a company, asset, or clinical trial has been updated.
For competitive intelligence to be truly effective, it must be a consistent, ongoing process where intelligence is continuously gathered and is up-to-date in real time. This can be achieved through the likes of an API to ensure your required data is updated by the minute.