CALIFORNIA STATE UNIVERSITY SAN MARCOS

PROJECT SIGNATURE PAGE

PROJECT SUBMITTED IN PARTIAL FULFILLMENT

OF THE REQUIREMENTS FOR THE DEGREE

MASTER

OF

BIOTECHNOLOGY

PROJECT TITLE: Business Proposal for An Online Marketplace to Facilitate Purchase and Sale of
New and Used Equipment, Reagents, and Other Services

AUTHOR: Krishna Vaddoriya

DATE OF SUCCESSFUL DEFENSE: 4/25/2022- Monday

THE PROJECT HAS BEEN ACCEPTED BY THE PROJECT COMMITTEE IN

PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER
OF BIOTECHNOLOGY

5/6/2022
Prof. Debora Galasso
PROJECT COMMITTEE CHAIR SIGNATURE DATE

Dr. Albert Kern [!~:t~ 5/6/2022

PROJECT COMMITTEE MEMBER
549CDDBEF/StaCJ
SIGNATURE DATE

5/8/2022
Octavio Espinosa
PROJECT COMMITTEE SIGNATURE DATE

MEMBER Dr. Betsy Read o:;;~;·;:J

FB97?'8 BllE 880 8 8 ..
5/6/2022
PROJECT COMMITTEE MEMBER SIGNATURE DATE
Krishna Vaddoriya - vaddo001@cougars.csusm.edu

Executive Summary
BioveneTM is a proposed business that plans to provide an online marketplace for
biotechnology and life science institutes. This web application can provide a platform where
biotechnology and life science companies can buy and sell products, media (like antibodies,
proteins), reagents, equipment, and an opportunity to sell used lab equipment. Biovene's
online marketplace can provide mutual benefits to its users. For example, buyers can quickly
compare and select more reasonable prices for a product by procuring from a marketplace. On
the other hand, suppliers benefit by getting a more targeted audience and a broad range of
customers similar to other ecommerce marketplaces like Amazon.com or Alibaba.com.
Additionally, companies can use the online marketplace to expand their business by advertising
their products through this web platform.

Biovene will be incorporated in San Diego, CA, the third-largest biotechnology and life science
hub in the United States. San Diego presents a thriving market where Biovene can find more
than 600 companies and organizations with thousands of lab being operated. Every year the
amount of talent and funding in biotechnology and life science has risen in San Diego18. Hence,
this presents an opportunity for Biovene to be part of a growing market.

A competitive analysis was performed to understand the variety of products and services
offered by competitors. Biovene has taken inspiration from these competitors to decide on the
types of services it should provide. Additionally, a partnership and alliance study was performed
that would be mutually beneficial for Biovene and its business partner. A logistics and software
solution partner has been identified to collaborate with Biovene.

A SWOT analysis was performed to determine the feasibility of the business by analyzing the
strengths, weaknesses, threats, and opportunities presented to Biovene. Additionally, a high-
level financial analysis was performed to outline the expenses for the preoperative and
operative stages of the company. The research helps outline the cost of revenue and presents
options for the prospective business model to be used by Biovene. The report advocates for a
follow-up study to develop a more detailed financial report and outlook for Biovene.
 𝑇𝑇𝑇𝑇
𝐵𝐵𝐵𝐵𝐵𝐵𝐵𝐵𝐵𝐵𝐵𝐵𝐵𝐵
By: Krishna Vaddoriya

Committee:

Dr. Al Kern
Octavio Espinosa
Prof. Debora Galasso
Problem statement
Who is Biovene?
Methodology – Interviews
• Zoom interviews with professionals in Biotechnology and Life science
industry
• Questions
• Inquire about current tools used
• Inquire about difficulties faced with current tools
• Inquire if company/lab is open to try new tool
• Inquire about ordering process
• Final thoughts and questions
Methodology – Competitor analysis
• Use surveys to find competitors
• Online research to find other startups in similar space
• Competitor’s website to understand services and products
• Use service to get look and feel of competitor’s service
• Funding and valuation using Crunchbase.com and Owler.com
Methodology – Partnership and SWOT
Analysis
• Partnership
• Evaluate different aspects of having a marketplace
• Evaluate partnership strategy options – shipping and handling, IT services,
business development
• Research and find viable partner for each
• SWOT Analysis
• Evaluate strengths, weakness, opportunities and threats for Biovene
Methodology – Financial considerations
• Expenses
• Preoperative and operative
• Wages, salaries, taxes
• Other business activities
• Business models
• Explore viable business models
• High-level financial outlook
• Next actions
• What are the next actions to be taken?
Competitors
•Founded in 2022, in US
•Online marketplace
shopping experience,
software services, sale of
pre-owned products
•Founded in 1980s, in US
•Revenue -> $1.50 million
•Basic online shopping,
physical store in San
Jose, CA.
•Founded in 2015, in US
•Revenue -> $4 Million
•Online shopping
experience, software
services
•Since 2015, based in US
•Revenue - >$90 Million
•Online shopping
experience, software
services
•In US, UK and Germany
•Since 2007, based in US
•Revenue -> $26.4 Million
•Online shopping
experience, software
services
•Founded in 1956
•Revenue -> $32.21 Billion
•Original Equipment
Manufacturer with large
B2B portfolio
Partnerships
Strength
• Low capital intensity
• Cost sensitive product offerings
• Market researched and survey-based product
• Sale of pre-owned products
SWOT analysis
Opportunity
• Located in San Diego, CA
• More than 600+ biotech and life science
organizations
• Biotechnology and Life Science industry growth
Weakness
• Founder’s lack of expertise
• Legal and Regulatory Affairs
• Raising capital
• Shipping and handling
Threats
• Competitors with more resources
• Problems with selling pre-owned equipment
• Product liability, shipping and cyber threats
 Financials – Expenses

• Preoperative Expenses
Type Term Amount • Equipment, Furniture
Preoperative • Salaries, Legal Fees,
Expenses 3 months $ 71,152 Incorporation, Trademark
• Advertisement, Software
Operative Year 1 12 months $ 145,838 Development
Operative Year 2 12 months $ 156,725 • Operative Expenses
Operative Year 3 12 months $ 169,136 • Salaries and wages
• Benefits and Taxes
• Operation Costs
Financials – Business Model
• Option 1
$300,000
Earnings vs Expenses for 3 Years

$250,000
• Aggressive and fast growth
• Profitable after 2 years
$200,000 • 5% transaction fee on every
purchase
$150,000 • $25/mo for other software
services
$100,000 • Option 2
• Flat prices and steady growth
$50,000
• Profitable after 2 years
• $499 per month for all customers
$-
End of Year-1 End of Year-2 End of Year-3
Estimated Expenses $145,838 $156,725 $169,136
Annual Earnings Option 1 $39,180 $96,468 $240,017
Annual Earning Option 2 $59,880 $119,760 $209,580

Estimated Expenses Annual Earnings Option 1 Annual Earning Option 2

Conclusion
• Unique products and services at lower cost
• Early customers are smaller organizations
• Collaborate with prospective partners
• Estimated to be profitable after 3 years
• Requires a follow up study for
• Sales forecast, Break even analysis, income projections, P/L forecasts
• Post three years – exit strategy, new products and services
Thank you!

Q&A?