BACKGROUND AND CHALLENGE
EAM is an innovative Malaysia-based chemical production company specialising in high purity solvents. In seeking new growth opportunities in Singapore, EAM approached BCS Consulting in January 2016 for a comprehensive analysis of the potential market within Singapore’s Research and Development (R&D) sector, with emphasis on the biotech industry and academic research laboratories. Prior to BCS Consulting’s work, there had been a dearth of focused, up-to-date market data to help inform EAM’s market acquisition strategy.
APPROACH AND OUTCOME
BCS Consulting assembled a group of six highly qualified consultants with diverse skills, experience and network in academic research and the biotechnology industry. Under the direction of BCS Consulting Leads, the team undertook a 12-week study on the high grade chemical solvent market across the Singapore R&D sector, including government agencies, dedicated research organizations, academic institutions and biotech companies. Using a data-driven appraoch, BCS consultants delivered quantitative analyses on the market size, product pricing, sales channels and existing supply chain information across the client’s product range. The range of analyses culminated in a list of strategic recommendations that catered to EAM’s unique needs and strengths in order to facilitate its expansion into the Singapore R&D sector.
The report by the six consultants, who understood the products and industry, has definitely affirmed EAM’s strategy of expanding its high purity solvent business into Singapore. The data collected from Singapore’s R&D sector has been valuable in aiding us to place our products so as to leverage our strengths and position in the market. The competitor analysis and procurement procedures of the different R&D organisations have both been critical in the consulting report. These have greatly boosted EAM’s confidence in entering the Singapore market.