EIC Success Stories - STAB VIDA expands its global presence thanks to the EIC

Having participated in numerous trade fairs under the EIC Overseas Trade Fairs (OTF) Programme 2.0, STAB VIDA signed off several corporate agreements, hired team members and expanded their business network in more than 15 countries. The Project Manager of STAB VIDA, Helena Goncalves, points out the positive experience being a selected exhibitor at the EIC Pavilion in MEDICA 2022 and shares insightful tips for a successful presence in high-level business events.

What is the business impact created following your participation in the trade fair? Is there any milestone achievement to announce?

HG: MEDICA 2022 proved to be a significant milestone for us. We were able to establish leads in various countries, including Mexico and India. Furthermore, we identified new distributors to expand our presence into other countries, such as Brazil and the Maghreb region.

In response to our growing business needs, STAB VIDA increased its human resources by adding two new commercial team members, enabling us to expedite the launch of the lactose intolerance test. We also brought in two R&D interns to further develop tests for the Doctor Vida Pocket PCR portfolio.

Moreover, we successfully entered into several corporate agreements, including partnerships with distributors in Spain for new veterinary and lactose Intolerance tests. Additionally, we secured an agreement for a National Human Reference Lab in the Netherlands for legionella and Lactose intolerance tests.

Furthermore, our Mexican client has established connections with a consortium of gynecologists who are eager to invest in and adopt our HPV tests.

As a consequence of these achievements, our ISO 13485 audits have been executed with exceptional success. This accomplishment serves as a strong testament to our unwavering commitment to meeting all essential criteria. It not only reaffirms our dedication, but also paves the way for STAB VIDA to secure manufacturing and expand our business operations.

To what extent OTF 2.0 helped you in achieving your organisation goals and business growth?

HG: The EIC OTF Programme 2.0 significantly contributed to STAB VIDA’s organisational goals and business growth through several key mechanisms:

• Lead Generation: OTF 2.0 provided an excellent opportunity to connect with potential customers and collect leads. These leads became clients and thus contributed to revenue growth. 
• Networking: OTF 2.0 allowed STAB VIDA to network with industry peers, potential partners, and customers. Building these relationships lead to collaboration, joint ventures, and business expansion. As an example, it gave also exceptional contacts with the European American Chamber of Commerce Florida and The Alan B. Levan | NSU Broward Center of Innovation, providing the space, technology, and network to generate, test, and prototype new ideas.
• Product Exposure: Showcasing Doctor Vida Pocket PCR genetic system at the EIC Trade Fairs increased our visibility enormously. This definitely helped in brand recognition, product awareness, and attracting new customers.
• Market Research: We gathered valuable market insights by engaging with attendees and observing competitors and to adapt our business strategy and product development.
• Sales and Revenue: We have made direct sales at the booth, contributing to revenue growth
• Testing and Feedback: We have brought the Lactose Intolerance test to MEDICA as a testing ground for new products or features. Immediate feedback from attendees helped in refining offerings.
• Market Expansion: STAB VIDA participated at FIME 2022, MEDICA 2022, Arab Health 2023  that led to opportunities for entering new markets and expanding globally.
• Brand Building: Participating in the EIC OTF Programme 2.0 substantially boosted the credibility and reputation of both STAB VIDA and the Doctor Vida Pocket brand, thanks to the increased exposure.

We also benefited from the educational opportunities that the EIC Trade fairs offer as they often featured seminars, workshops, and presentations. We gained knowledge and skills that can benefit STAB VIDA’s operations and growth.

From your experience with OTF 2.0, what business aspects do you think exhibitors should consider when preparing for tradeshows, both locally and internationally?

HG: Achieving success at trade fairs requires meticulous planning and the implementation of robust follow-up strategies to maximise the presented opportunities. At STAB VIDA, we wholeheartedly prioritise this process.

What are your ambitions and future expectations for the company after OTF 2.0?

HG: We want to achieve significant business growth, including expanding our customer base, entering new markets, and increasing our product offerings. We aim to continue developing innovative products and technologies to stay competitive and address evolving market needs. STAB VIDA is looking to expand its presence into new regions and countries, capitalising on the leads and partnerships established at MEDICA and other trade fairs. We want to solidify partnerships and collaborations with organisations that we met at the trade fair, potentially leading to joint ventures, research projects or distribution agreements. We are investing in R&D to develop new and improved products and technologies, ensuring STAB VIDA remains at the forefront of its field.

Finally, could you offer any additional tips to prospective applicants?

HG: Participating in EIC trade fairs is an enormous opportunity for innovative companies.

Here are some tips:

• Align with Your Goals: Ensure that participation in the trade fair aligns with your company's goals and objectives. What do you hope to achieve by attending, and how does it fit into your broader business strategy?
• Prepare a Strong Application: Draft a compelling application that clearly communicates your company's innovation, products, and how your participation in the trade fair would benefit both your company and the event. Be concise and focused on your application.
• Market Research: Understand the market and the trade fair's target audience. Know who your competitors are and how your offering stands out. This will help you tailor your messaging and approach.
• Booth Design and Presentation: If you have a booth, invest in an eye-catching and professional design. Make sure your booth and presentation materials effectively convey your value proposition.
• Engage Effectively: During the trade fair, engage with attendees, be approachable, and clearly communicate the unique value of your products or services. Our Doctor Vida Pocket Lactose Intolerance test demonstration was very famous and captured enormous attention, keeping the booth busy.
• Networking: Leverage the opportunity to network with other exhibitors, industry experts, and potential partners. Plan in advance whom you want to connect with and prepare your elevator pitch.
• Follow-Up Strategy: Have a robust follow-up strategy in place for leads generated during the event. Send thank-you notes, schedule follow-up meetings, and provide additional information promptly.
• Presentation Skills: If you have the chance to present your company or products, practice your presentation skills. Be engaging and concise in your delivery.
• Adapt and Learn: Be flexible and open to learning from the experience. If something isn't working as planned, adapt your strategy as needed.
• Compliance and Regulations: If your products or services have regulatory considerations, make sure you understand and comply with the relevant regulations in the market where the trade fair is held.
• Budget Wisely: Trade fairs can be expensive, so manage your budget carefully. Prioritise your spending on the most impactful activities that align with your goals.
• Evaluate ROI: After the trade fair, assess your return on investment. Measure the outcomes against your initial objectives and adjust your strategy for future events based on the results.

About STAB VIDA

Created in 2001, STAB VIDA is a Portuguese biotech SME with an exclusive line of cutting-edge genetics and genomics products and services. Currently, its commercial territory covers all continents. STAB VIDA has developed a fluorescent LAMP-based point-of-care, CE-IVD-marked diagnostic assay that is automatically processed in real-time in an inexpensive, portable and reusable device controlled by App - Doctor Vida® Pocket. Doctor Vida Pocket PCR is the smallest portable PCR device, already in the market, for diagnostic of STD’S, Legionella, Lactose Intolerance, veterinarian applications, Covid-19 and other diseases, CE-IVD and ISO 13485 manufactured by STAB VIDA.

About MEDICA

Being the leading international meeting for the medical community, MEDICA offers a comprehensive overview of the latest technological advancements in the healthcare sector. For more than 40 years, MEDICA has been firmly established on every expert’s calendar, as it attracts more than 45.000 visitors from more than 50 countries. The leading tradeshow combines world premieres and live demonstrations of products spanning the entire value chain with exciting business partnerships. MEDICA offers a rich portfolio of medical products, including digital care, innovative substances, IT systems and solutions. Together with COMPAMED, it encompasses all stages of medical technological development, creating an unmatched business platform for the industry.

About the EIC International Trade Fairs and USA Soft Landing Programme 3.0

The EIC International Trade Fairs and USA Soft Landing Programme 3.0 (previously Overseas Trade Fairs Programme 2.0) supports EIC Awardees to promote their commercialisation strategy in foreign markets and leverage business opportunities at the 12 most popular trade fairs, strengthening the EU innovation brand around the world. Selected EIC-funded SMEs, start-ups and scale-ups from EU Member States and associated countries have access to the Programme.

Check the EIC International Trade Fairs and USA Soft Landing Programme 3.0 or additional information. For stories, open calls and events, you may also visit the EIC Community Platform. 

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