1.

) Does

the companys products or services address an important problem?

Current systems like audiograms are used to evaluate hearing loss, but cannot fully access how well individuals understand speech in a relatively "noisy" environment such as a classroom or in office environments. In order to solve the above mentioned problem, Auris Solutions has developed a proprietary hearing test called the Children's Realistic Intelligibility and Speech Perception (CRISP) test. CRISP will enable the user to measure a child's ability to understand speech in noisy environment. i. how important is the problem been addressed? Hearing loss problem is of significantly important because if children with hearing loss do not receive early intervention, special education for a child with hearing loss will cost an additional $420,000 in special education costs, and has a lifetime cost of approximately $1 million per child to the society. In adults, hearing loss can begin at an age of 50 and lack of early intervention can lead to loss of jobs, emotional distress and even cognitive disorders. In addition, since life expectancy can realistically reach up-to age 90, an individual could potentially be affected by hearing loss for half of his/her lifetime.
ii. Whether they conducted any research or survey about the need of the product?

Auris Solutions did market research about the need for the CRISP test using information from 2000 US Census and D&B Million Dollar Database but failed to do survey about the market opportunity of the CRISP test. Doing survey about the CRISP test would have given them clear information about importance of the product (CRISP TEST) for the customers. Here customers include audiologists, medical centers and hospitals, hearing aid and cochlear implant manufacturers.
iii. Do the customers have any other solutions to the problem?

Currently customers do not have other alternate solution beside CRISP test, which is known to be suitable test for the childrens as well as adults. The business plan managed to show the need of the product but failed to show whether or not the customers are willing to pay for the product. I will give it a rating = 4, because it addresses important problem and provide effective solution.

 I would have given it a rating = 5, if Auris solutions would have conducted surveys and know customers opinion about the product. Current tests like pure tone hearing test can only evaluate fundamental hearing loss, but cannot predict how well an individual will understand words and sentences in a realistic environment. Current tests also cannot assess whether or not a second cochlear implant or second hearing aid would significantly improve the hearing of a patient. But this problem can be solved by using CRISP Test. Features such as understanding words and sentences in a noisy environment make the products of the company unique. The solutions offered by the Auris Solutions are clear and easy to understand and also easy to implement. The products of the Auris Solutions can fit into any existing hearing care system, which significantly reduces system setup cost. The business plan did not provide any information about longevity of the product. For Question 2 of my evaluation sheet which had addressed above mentioned points, I will give it a rating = 4, because it provides clear information about uniqueness of the product and solution offered is clear and easy to understand and implement. I would have given them rating = 5, if they would have provided information about life-span of the product. Auris Solutions performed a thorough search using proprietary market research software and found only a few companies that would compete directly against CRISP, although no companies offer products comparable to the CRISP test. Most of the companies are offering tests for adults but a few for childrens. The US hearing care industry is composed of more than 105,000 practitioners (94,000 speech pathologists, comprehensive and 11,000 audiologists) providing hearing care products and services. Auris Solutions is focusing its marketing efforts towards the 105,000 audiologists and speech pathologists who work in the organizations such as medical centers, hospitals, hearing test service based firms. These customers can help to reach significant amount of sales per year. The Auris Solutions business plan did not provide any information about how they can defend they can defend their position in the initial market.

Auris solutions is preparing to launch its product called CRISP test in Europe and Africa, They are currently working on German and African version of CRISP.

Auris Solutions differentiate itself from other companies by making its tests suitable to use with young children, Tests patient's performance in terms of hearing speech in the presence of noise, Mimics Realworld environment, Can be used an unlimited number of times, CRISP test can help to fine-tune hearing aid
setting

Its solution is completely new and it can perfectly fit in to the existing hearing test process. Business plan did not provide any information about any other companies coming up to solve the same problem and also about strategy of the competitors.

Auris Solutions failed to address the risks involved. They could have address risk such as risk of failure, risk of loss of income, and risk due to physical destruction.

The company has a good business plan, it would have been much better if the company could have include information about risks, strategy of the competitors and also discuss about how they can find their place in the initial market in their business plan.

Auris Solutions' CRISP has been awarded competitive grants from various federal agencies, including the National Institutes of Health (NIH), National Science Foundation (NSF), and the U.S. Department of Energy (DOE). These grants are typically awarded to companies or scientists with technology that has high potential for development and commercialization. Auris Solutions is composed of 4 key individuals Chief Scientific Consultant Ruth Litovsky, PhD: Ruth Litovsky is the Chief Scientific Consultant. Software Developer Gongqiang Yu, PhD :Gongqiang Yu is the software developer behind CRISP Marketing Manager Kim-Anh To, MBA : Kim-Anh is the company's marketing manager and cofounder. Ms. To has an MBA with a focus in Entrepreneurship/Marketing Business Manager Jose O. Rivera, MBA, BSCE : Jose is the company's business manager and

co-founder. Mr. Rivera has an MBA with a focus in Entrepreneurship