Marketwise Strategies Helps (Ink)Spot Gap in the Market

Screen shot 2011-04-10 at 09.45.10A SPECIALIST market research company has helped shape a piece of innovative software which could revolutionise the way scientific research is analysed, published and shared around the world.

Newcastle-based Marketwise Strategies has carried out proof of concept market research to help launch pioneering software company Inkspot Science Ltd., whose platform provides an online collaborative environment where scientists can carry out and share their work.

Working entirely in private, collaborating with trusted colleagues or publishing openly, scientists can also gain access to extensive scientific data without needing to set up and maintain their own systems.

Inkspot also allows them to convert raw data into meaningful and replicable analysis, or to start their research papers as a digital lab notebook, which can be peer reviewed and commented on, helping to increase a papers robustness and validity.
Inkspot enlisted the help of Marketwise Strategies to help it identify the size of the market, acquire an understanding of how scientists currently do science and discover the potential revenue models that are currently acceptable to scientists in both commercial and academic environments.

Marketwise Strategies senior research executive Graham Soult said: The benefits that this software will create for scientists could be pivotal for medical and scientific research.Our research for Inkspot delved deeper into whom they were trying to reach, and asked questions that they may not have thought about. As a result, we were able to advise Inkspot to incorporate those vital details in order to develop a more bespoke and marketable product.

Inkspot Science chief operating officer Joanna Berry said: The report that we received from Marketwise Strategies added huge value to the project by supplying us with a meaningful analysis of the statistics. Its a huge change from knowing the statistics to understanding what they mean.

Because Marketwise Strategies asked the right questions to the right people, we discovered for example that scientists don’t like the word blog, preferring instead to use the term lab notebook. Something that would seem so small is fundamentally important to us to help engage those scientists into using the software.

We can now identify growing interest and we are ready to produce a public site early in the New Year. We hope to develop it further as a publishing platform that can be applied to other (non-science) sectors.

The software is also aimed at promoting scientific studies and sharing analysis worldwide by unlocking research so that more people can benefit from the work that scientists are doing. Following the feedback of a testing period, the launch of the software in the North East will enable a cultural shift among scientists which could benefit research around the world.

Marketwise Strategies managing director Jacquie Potts said: “Inkspot’s business model is simple and very effective. Through the findings, Inkspot were able to adapt and amend aspects of the software to create a product unlike any other.

Open access for scientific papers and research is at the forefront of the Science Commons movement so it is great that something this groundbreaking is being developed within the North East.”