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Company > Bio-Techne Corp: Business Model, SWOT Analysis, and Competitors 2023

Bio-Techne Corp: Business Model, SWOT Analysis, and Competitors 2023

Published: May 12, 2023

Inside This Article


    In this blog article, we will delve into the business model of Bio-Techne Corp, a leading biotechnology company that operates in the highly competitive life sciences industry. We will explore the company's strategies and key revenue streams that have contributed to its success. Additionally, a comprehensive SWOT analysis will shed light on the company's strengths, weaknesses, opportunities, and threats. Finally, we will identify Bio-Techne's major competitors in the market and assess their potential impact on the company's future growth and profitability. Join us as we analyze the current landscape and forecast the future prospects for Bio-Techne Corp in 2023.

    What You Will Learn:

    • Who owns Bio-Techne Corp and the significance of their ownership in the company.
    • The mission statement of Bio-Techne Corp and how it guides their business operations and goals.
    • How Bio-Techne Corp generates revenue and the key factors contributing to their financial success.
    • An in-depth explanation of the Bio-Techne Corp Business Model Canvas and how it helps the company in achieving its objectives.
    • The major competitors of Bio-Techne Corp and their impact on the company's market position.
    • A comprehensive SWOT analysis of Bio-Techne Corp, highlighting their strengths, weaknesses, opportunities, and threats in the industry.

    Who owns Bio-Techne Corp?

    Major Institutional Shareholders

    Bio-Techne Corp (NASDAQ: TECH) is a leading provider of life science tools and diagnostic products. As a publicly traded company, it is important to understand the ownership structure of the company. This section will delve into the major institutional shareholders who own significant stakes in Bio-Techne Corp.

    One of the largest institutional shareholders of Bio-Techne Corp is Vanguard Group Inc. As of the latest available data, Vanguard Group Inc holds around 10% of the company's outstanding shares. With over $7 trillion in assets under management, Vanguard is a renowned investment management company that provides services to various institutional and individual investors. The significant stake held by Vanguard Group Inc indicates their confidence in the company's growth potential and long-term prospects.

    Another major institutional shareholder of Bio-Techne Corp is BlackRock Inc. BlackRock, the world's largest asset management company, holds approximately 9% of the outstanding shares of the company. With its diverse client base and extensive global reach, BlackRock's investment in Bio-Techne Corp underscores the company's strong position in the life science tools and diagnostic products industry.

    Insider Ownership

    In addition to institutional shareholders, it is also crucial to consider the ownership held by insiders within Bio-Techne Corp. Insiders, including company executives, directors, and employees, often have a deeper understanding of the business and its potential. Their ownership stakes can provide insights into their belief in the company's future performance.

    Notably, the founder and CEO of Bio-Techne Corp, Charles Kummeth, holds a significant ownership stake in the company. As of the latest available data, Kummeth owns approximately 2% of the outstanding shares. This substantial personal investment demonstrates his commitment to the company's success and aligns his interests with those of other shareholders.

    Furthermore, the board of directors and other key executives also hold notable ownership positions in Bio-Techne Corp, showcasing their confidence in the company's strategy and growth prospects.


    Understanding the ownership structure of a company like Bio-Techne Corp is essential for investors and stakeholders alike. The significant stakes held by major institutional shareholders such as Vanguard Group Inc and BlackRock Inc reflect the market's confidence in the company's potential. Moreover, the substantial ownership positions of insiders, including the founder and CEO, highlight their belief in Bio-Techne Corp's long-term success.

    What is the mission statement of Bio-Techne Corp?

    The Mission Statement of Bio-Techne Corp

    Bio-Techne Corp, a leading global provider of life science products and services, has a clear and concise mission statement that guides its actions and decisions. Their mission is to deliver innovative solutions that enable scientific discovery and improve human health.

    With a strong commitment to scientific research and development, Bio-Techne Corp aims to provide cutting-edge tools and technologies to scientists and researchers worldwide. Their mission statement reflects their dedication to advancing knowledge and understanding in the fields of biology, medicine, and biotechnology.

    Bio-Techne Corp's mission statement emphasizes their focus on delivering innovative solutions. This commitment to innovation is evident in their extensive portfolio of high-quality products, which includes reagents, antibodies, proteins, and instruments. By continuously investing in research and development, Bio-Techne Corp ensures that they stay at the forefront of scientific advancements and can offer the most advanced solutions to their customers.

    Another crucial aspect of Bio-Techne Corp's mission is the improvement of human health. They recognize the importance of their work in contributing to the development of new therapies and diagnostics. By providing scientists with the tools they need to make breakthrough discoveries, Bio-Techne Corp plays a vital role in the advancement of healthcare and the improvement of patient outcomes.

    Furthermore, Bio-Techne Corp's mission statement highlights their commitment to collaboration and partnership. They actively seek out collaborations with academic institutions, biotechnology companies, and other industry leaders to foster innovation and accelerate scientific progress. By working together with experts in various fields, Bio-Techne Corp aims to create a collaborative ecosystem that drives scientific advancements and benefits society as a whole.

    In summary, Bio-Techne Corp's mission statement reflects their dedication to delivering innovative solutions, advancing scientific discovery, improving human health, and fostering collaboration. By staying true to their mission, Bio-Techne Corp continues to be a trusted partner for scientists and researchers worldwide, enabling them to make significant contributions to the fields of biology and medicine.

    How does Bio-Techne Corp make money?

    Revenue Streams

    Bio-Techne Corp generates revenue through a combination of product sales, service fees, and royalties. The company operates in the life sciences industry, offering a wide range of innovative biotechnology products and services. Let's delve into each revenue stream in more detail:

    Product Sales

    The primary source of income for Bio-Techne Corp is the sale of its cutting-edge biotechnology products. The company offers a diverse portfolio of research tools, including antibodies, proteins, cell culture reagents, and genomic analysis solutions. These products cater to various scientific disciplines, such as immunology, neuroscience, and stem cell research. By delivering high-quality and reliable products, Bio-Techne Corp has established a strong customer base worldwide. The company continuously invests in research and development to bring new and improved products to market, ensuring a steady stream of revenue from product sales.

    Service Fees

    In addition to product sales, Bio-Techne Corp also generates revenue through its service offerings. The company provides contract research and manufacturing services to pharmaceutical, biotechnology, and academic institutions. These services range from custom antibody production and protein analysis to cell line development and gene editing. By leveraging its expertise and state-of-the-art facilities, Bio-Techne Corp assists customers in advancing their research and development projects. The service fees contribute significantly to the company's overall revenue and provide an additional avenue for growth.


    Bio-Techne Corp has a strong intellectual property portfolio that includes patents on various technologies and discoveries. The company licenses these patents to other biotechnology and pharmaceutical companies, allowing them to utilize the intellectual property in their own research and product development. In return, Bio-Techne Corp receives royalties based on the licensed technology's usage or sales. This passive income stream provides a consistent revenue source for the company, further diversifying its income streams.

    By capitalizing on these revenue streams, Bio-Techne Corp has achieved consistent financial growth over the years. The company's commitment to innovation, quality products, and excellent customer service ensures its position as a leader in the life sciences industry and contributes to its ongoing success.

    Bio-Techne Corp Business Model Canvas Explained

    What is the Business Model Canvas?

    The Business Model Canvas is a strategic management tool that helps organizations visualize and assess their business models in a concise and structured manner. It provides a framework for understanding how different components of a business interact and contribute to its overall success. The canvas consists of nine key building blocks, each representing a crucial aspect of a company's operations and value proposition.

    Key Components of Bio-Techne Corp's Business Model Canvas

    1. Customer Segments: Bio-Techne Corp primarily targets customers in the life sciences industry, including academic and research institutions, pharmaceutical companies, biotechnology firms, and clinical laboratories. They serve a wide range of customers who require innovative solutions for their research and development needs.

    2. Value Proposition: Bio-Techne Corp offers a diverse portfolio of products and services that enable scientists to advance their research and improve human health. Their value proposition lies in providing high-quality reagents, assays, instruments, and software solutions that enhance the efficiency and accuracy of scientific experiments.

    3. Channels: The company adopts a multi-channel approach to reach its customers. They distribute their products through a combination of direct sales representatives, distributors, online platforms, and partnerships with other organizations in the life sciences industry. This omni-channel strategy allows Bio-Techne Corp to effectively reach and serve diverse customer segments.

    4. Customer Relationships: Bio-Techne Corp places great emphasis on building strong and lasting relationships with its customers. They offer technical support, training programs, and educational resources to ensure customers maximize the value of their products. This customer-centric approach fosters loyalty and encourages repeat business.

    5. Revenue Streams: The company generates revenue through the sale of its products, including reagents, assays, instruments, and software solutions. Additionally, Bio-Techne Corp offers various services such as custom assay development and contract research, which contribute to their revenue streams. They also have licensing agreements and collaborations that generate additional revenue.

    6. Key Activities: Bio-Techne Corp's key activities revolve around research and development, manufacturing, marketing, sales, and customer support. They invest significantly in developing innovative products, improving manufacturing processes, and expanding their product portfolio through acquisitions and partnerships.

    7. Key Resources: The company's key resources include a talented workforce comprising scientists, researchers, and sales professionals. They also possess state-of-the-art research and manufacturing facilities, advanced technology platforms, intellectual property, and strong relationships with suppliers and distributors.

    8. Key Partnerships: Bio-Techne Corp collaborates with strategic partners, including academic institutions, biotech companies, and pharmaceutical firms, to drive innovation and bring cutting-edge solutions to the market. These partnerships enable them to leverage complementary expertise, access new markets, and jointly develop new products.

    9. Cost Structure: The company's cost structure encompasses expenses related to research and development, manufacturing, marketing and sales, customer support, and general administration. Bio-Techne Corp strives to optimize its cost structure by improving operational efficiency, leveraging economies of scale, and managing its resources effectively.

    By leveraging the Business Model Canvas, Bio-Techne Corp gains a holistic view of its business model, allowing them to identify areas for improvement, capitalize on opportunities, and maintain a competitive edge in the rapidly evolving life sciences industry.

    Which companies are the competitors of Bio-Techne Corp?

    Major Competitors of Bio-Techne Corp

    Bio-Techne Corp operates in a highly competitive industry, and there are several companies that pose strong competition to its various business segments. Here are some of the major competitors of Bio-Techne Corp:

    1. Thermo Fisher Scientific Inc. Thermo Fisher Scientific is a global leader in scientific research and laboratory equipment. With a diverse range of products and services, Thermo Fisher Scientific competes with Bio-Techne Corp in areas such as life sciences research, diagnostics, and bioproduction. The company's strong presence and extensive product portfolio make it a formidable competitor for Bio-Techne Corp.

    2. Merck KGaA Merck KGaA, also known as EMD Serono in the United States, is a multinational pharmaceutical, chemical, and life sciences company. With a strong focus on research and development, Merck KGaA competes with Bio-Techne Corp in areas such as antibodies, proteins, and cell culture products. The company's global presence and reputation for innovation make it a significant competitor in the market.

    3. Abcam Plc Abcam is a leading provider of life science research tools and reagents. The company specializes in antibodies, proteins, and assays, offering a wide range of products similar to Bio-Techne Corp. Abcam's emphasis on quality products and customer satisfaction has allowed it to establish a strong presence in the market, posing stiff competition to Bio-Techne Corp.

    4. PerkinElmer, Inc. PerkinElmer is a global leader in providing innovative solutions for the diagnostics, life sciences, and applied markets. The company's diverse product portfolio includes instruments, reagents, and software, competing directly with Bio-Techne Corp in areas such as genomics, proteomics, and cellular analysis. PerkinElmer's technological advancements and established customer base make it a notable rival for Bio-Techne Corp.

    Emerging Competitors

    In addition to the major competitors mentioned above, Bio-Techne Corp faces increasing competition from emerging companies that are disrupting the life sciences industry. These emerging competitors leverage new technologies and approaches to offer innovative solutions, challenging the established players in the market. While their presence may not be as significant as the major competitors yet, it is essential for Bio-Techne Corp to monitor and adapt to these emerging trends to maintain its competitive edge.

    Some notable emerging competitors include:

    1. Twist Bioscience Corporation Twist Bioscience is a synthetic biology company that manufactures and sells DNA synthesis platforms. By leveraging its proprietary technology, Twist Bioscience offers cost-effective and high-throughput DNA synthesis solutions. While not directly competing with Bio-Techne Corp in all areas, its innovative approach to gene synthesis and DNA libraries poses a potential threat to certain segments of Bio-Techne Corp's business.

    2. Berkeley Lights, Inc. Berkeley Lights develops and commercializes digital cell biology platforms that enable the discovery and development of cell-based products. With its proprietary technology, Berkeley Lights offers solutions for cell line development, antibody discovery, and cell therapy workflows. As the field of cell-based therapies and personalized medicine continues to grow, Berkeley Lights presents a unique and emerging competitor to Bio-Techne Corp.

    In conclusion, Bio-Techne Corp faces stiff competition from major players like Thermo Fisher Scientific, Merck KGaA, Abcam, and PerkinElmer. Additionally, emerging companies like Twist Bioscience and Berkeley Lights are challenging the status quo with innovative approaches to various aspects of the life sciences industry. To stay ahead in this competitive landscape, Bio-Techne Corp needs to continue focusing on innovation, product quality, and customer satisfaction.

    Bio-Techne Corp SWOT Analysis


    • Strong presence in the biotechnology industry: Bio-Techne Corp has established itself as a key player in the biotechnology sector, with a wide range of products and services that cater to various research and diagnostic needs. This strong presence gives the company a competitive advantage and allows it to attract and retain customers.

    • Diversified product portfolio: The company offers a diverse range of products, including antibodies, proteins, immunoassays, and instruments, which allows it to cater to a wide range of customer needs. This diversification helps Bio-Techne Corp to mitigate risks associated with a single product line and provides multiple revenue streams.

    • Strong research and development capabilities: Bio-Techne Corp has a dedicated research and development team that continuously works on developing innovative products and technologies. This focus on R&D helps the company stay ahead of the competition and ensures that it can offer cutting-edge solutions to its customers.


    • Dependence on partnerships and collaborations: Bio-Techne Corp relies on partnerships and collaborations with other companies and academic institutions to expand its product portfolio and reach new markets. While these collaborations can be beneficial, they also expose the company to risks associated with the actions and decisions of its partners.

    • Limited geographic presence: Although Bio-Techne Corp operates globally, its presence is relatively limited compared to some of its competitors. This limited geographic presence can restrict the company's access to certain markets and make it more vulnerable to regional economic fluctuations or regulatory challenges.

    • Vulnerability to regulatory changes: The biotechnology industry is subject to stringent regulations, and changes in these regulations can significantly impact Bio-Techne Corp's operations. Any new regulations or changes in existing ones may require the company to adapt its products or processes, which can be time-consuming and costly.


    • Growing demand for personalized medicine: The increasing focus on personalized medicine presents a significant opportunity for Bio-Techne Corp. The company can leverage its expertise in biomarker discovery and development to provide tailored solutions for diagnosing and treating various diseases, thereby addressing the demand for personalized healthcare.

    • Expansion into emerging markets: Bio-Techne Corp can explore opportunities for expansion in emerging markets, such as Asia-Pacific and Latin America, where there is a growing demand for biotechnology products and services. By establishing a stronger presence in these markets, the company can tap into new customer bases and achieve further growth.

    • Strategic acquisitions and partnerships: The biotechnology industry is marked by rapid advancements and evolving customer needs. Bio-Techne Corp can seize opportunities through strategic acquisitions and partnerships to expand its product offerings, enhance its technological capabilities, or enter new market segments.


    • Intense competition: The biotechnology industry is highly competitive, with numerous players offering similar products and services. Bio-Techne Corp faces the threat of losing market share to competitors who may have similar or better offerings, pricing strategies, or customer relationships. The company needs to continuously innovate and differentiate itself to stay ahead in this competitive landscape.

    • Economic downturns: Economic downturns can significantly impact the biotechnology industry, as research funding may be reduced, and customers may cut back on spending. Bio-Techne Corp may face challenges during such periods, including a decrease in demand for its products and services.

    • Intellectual property risks: As a company operating in the biotechnology sector, Bio-Techne Corp faces the risk of intellectual property infringement. Protecting its intellectual property rights and defending against potential infringements can be costly and time-consuming, potentially impacting the company's financial performance and competitive position.

    Key Takeaways

    • Bio-Techne Corp is a publicly traded company, meaning it is owned by shareholders who hold its stock.
    • The mission statement of Bio-Techne Corp is to provide innovative tools and resources for the scientific community, with a focus on advancing research and improving human health.
    • Bio-Techne Corp makes money through the sale of products and services in the life sciences, including reagents, instruments, and diagnostics.
    • The Business Model Canvas of Bio-Techne Corp can be described as a combination of value propositions, customer segments, channels, customer relationships, revenue streams, key activities, key resources, and key partnerships that enable the company to deliver its products and services effectively.
    • Some of the main competitors of Bio-Techne Corp include Thermo Fisher Scientific, Illumina, and Agilent Technologies.
    • A SWOT analysis of Bio-Techne Corp reveals its strengths such as a strong product portfolio and a global presence, weaknesses such as potential dependence on a few key customers, opportunities such as expanding into emerging markets, and threats such as intense competition and regulatory challenges.


    In conclusion, Bio-Techne Corp is a leading biotechnology company that has established itself as a key player in the industry. As for ownership, Bio-Techne Corp is publicly traded on the NASDAQ stock exchange under the ticker symbol TECH. This allows for ownership by a wide range of investors.

    The mission statement of Bio-Techne Corp is focused on empowering scientific discovery and enabling the development of innovative solutions to improve human health. Their commitment to excellence in research and development is evident in their dedication to providing high-quality products and services to the scientific community.

    Bio-Techne Corp generates revenue through various channels, including the sale of research reagents, instruments, and consumables. Additionally, they offer contract services and collaborate with pharmaceutical and biotechnology companies to develop and manufacture therapeutics.

    The Business Model Canvas of Bio-Techne Corp provides a comprehensive overview of their key activities, resources, and value propositions. It highlights their focus on research and development, manufacturing capabilities, and strong customer relationships as key drivers of their success.

    In terms of competition, Bio-Techne Corp faces competition from other biotechnology companies such as Thermo Fisher Scientific, Agilent Technologies, and Danaher Corporation. However, Bio-Techne Corp's strong brand reputation, extensive product portfolio, and commitment to innovation give them a competitive edge in the market.

    Lastly, a SWOT analysis of Bio-Techne Corp reveals their strengths in research and development, strong financial performance, and global presence. They also face challenges in terms of regulatory compliance and potential threats from emerging competitors. However, their opportunities lie in expanding into new markets and leveraging technological advancements.

    Overall, Bio-Techne Corp is a well-established and successful biotechnology company with a clear mission, solid revenue streams, and a strong position in the market. Their continuous focus on innovation and collaboration will ensure their continued growth and success in the future.


    What is a SWOT analysis for a technology company?

    A SWOT analysis for a technology company involves analyzing its strengths, weaknesses, opportunities, and threats. Here is an example of a SWOT analysis for a technology company:


    1. Innovative products and services: The company offers cutting-edge technology solutions that differentiate it from competitors.
    2. Skilled workforce: The company has a highly skilled and experienced team of engineers and developers.
    3. Strong brand reputation: The company has established a strong brand image and is known for its reliable and high-quality products.
    4. Robust research and development capabilities: The company invests heavily in R&D, allowing it to stay ahead of technological advancements and trends.


    1. High dependency on key personnel: The company relies heavily on the expertise of a few key employees, which poses a risk if they leave.
    2. Limited market presence: The company may have a limited market share compared to larger competitors.
    3. Lack of diversification: The company may be heavily reliant on a specific product or service, making it vulnerable to market fluctuations.


    1. Growing market demand: The technology market is expanding rapidly, creating opportunities for the company to grow its customer base.
    2. Expansion into new markets: The company can explore entering new geographical markets or industry verticals to increase its market share.
    3. Strategic partnerships: Collaborating with other companies or forming strategic alliances can help the company expand its offerings and reach.


    1. Intense competition: The technology industry is highly competitive, and the company may face challenges from established players and new entrants.
    2. Rapid technological advancements: The fast-paced nature of technology could make the company's products or services obsolete if it fails to keep up with industry trends.
    3. Cybersecurity risks: As a technology company, there is a constant threat of cyberattacks and data breaches, which can damage the company's reputation and customer trust.

    It is important to note that the SWOT analysis should be tailored to the specific context of the technology company being analyzed, as each company's strengths, weaknesses, opportunities, and threats may vary.

    What will be your SWOT analysis for the company?


    1. Strong brand reputation: The company has a well-established brand name and is recognized globally.
    2. Diverse product portfolio: The company offers a wide range of products, catering to various customer segments, which helps to mitigate risks associated with dependence on a single product.
    3. Innovation capabilities: The company has a strong track record of innovation, constantly developing new and improved products to stay ahead in the market.
    4. Strong distribution network: The company has an extensive distribution network, enabling it to reach customers effectively and efficiently.
    5. Strong financial position: The company has a stable financial position, with strong revenue growth and profitability.


    1. Dependence on key suppliers: The company may be vulnerable to disruptions in the supply chain due to its dependence on a few key suppliers for raw materials.
    2. Limited online presence: The company's online sales and marketing strategies are relatively weak compared to competitors, resulting in missed opportunities for growth.
    3. Lack of diversification in market segments: The company's primary focus is on a specific customer segment, which may limit its growth potential in other market segments.


    1. Growing global market: The company can capitalize on the increasing demand for its products in emerging markets, where there is a growing middle class and rising disposable income.
    2. Expansion into new product categories: The company can explore diversification into new product categories to expand its customer base and increase market share.
    3. Increasing demand for sustainable and eco-friendly products: The company can leverage its innovation capabilities to develop and market sustainable and eco-friendly products, which are in high demand.


    1. Intense competition: The company operates in a highly competitive market, facing competition from both established players and new entrants.
    2. Economic uncertainties: Global economic conditions and fluctuations in currency exchange rates may impact the company's financial performance and market demand.
    3. Changing consumer preferences: Shifting consumer preferences towards healthier and more sustainable products can pose a threat if the company fails to adapt quickly.
    4. Regulatory challenges: The company may face regulatory challenges, such as changes in product safety regulations or import/export restrictions, which can impact its operations and profitability.

    What is a SWOT analysis for tech support?

    A SWOT analysis for tech support involves evaluating the strengths, weaknesses, opportunities, and threats related to the provision of technical support services.


    1. Expertise: The technical support team can possess extensive knowledge and skills in troubleshooting and resolving various technical issues.
    2. Quick response time: The ability to respond promptly to customer queries and provide efficient solutions.
    3. Customer satisfaction: A high level of customer satisfaction due to effective problem-solving and excellent communication skills.
    4. 24/7 availability: Providing round-the-clock support to customers, ensuring immediate assistance whenever required.
    5. Access to resources: Having access to the necessary tools, software, and knowledge base to address customer issues effectively.


    1. Lack of specialization: The team may have limited expertise in certain areas, leading to difficulties in resolving complex technical problems.
    2. High staff turnover: Frequent turnover of support staff can affect continuity and customer relationships.
    3. Language barriers: Language limitations may hinder effective communication and understanding between customers and support personnel.
    4. Inadequate training: Insufficient training for support staff can result in inadequate problem-solving skills and lower customer satisfaction.
    5. Dependency on technology: Technical difficulties or system failures can hinder the support team's ability to provide timely assistance.


    1. Expansion of services: Offering additional services such as remote troubleshooting, online chat support, or self-help resources.
    2. Upselling and cross-selling: Identifying opportunities to promote complementary or upgraded products/services to existing customers.
    3. Collaboration with vendors: Partnering with technology vendors to enhance support capabilities and gain access to specialized expertise.
    4. Market growth: Capitalizing on the increasing demand for tech support services as technology becomes more pervasive.
    5. Proactive support: Anticipating customer needs and providing proactive solutions, reducing the need for reactive support.


    1. Competition: Facing stiff competition from other tech support providers, potentially leading to customer attrition.
    2. Technological advancements: Rapidly evolving technology can require continuous training and adaptation to keep up with customer demands.
    3. Negative reviews and reputation: Poor customer experiences or negative reviews can harm the reputation and result in loss of business.
    4. Security risks: Dealing with sensitive customer data poses potential risks and vulnerabilities to cyber threats.
    5. Economic factors: Economic downturns or budget constraints may lead to reduced demand for tech support services.

    What are 3 threats for SWOT analysis?

    1. Competitive threats: These can include intense competition in the market, new entrants, or existing competitors with strong market presence and resources. Competitors can pose a threat to a company's market share, profitability, and growth potential.

    2. Economic threats: Economic factors such as recessions, inflation, currency fluctuations, or changes in interest rates can pose threats to businesses. These factors can impact consumer spending, purchasing power, and overall demand for products or services.

    3. Technological threats: Rapid advancements in technology can pose threats to businesses that are slow to adapt or embrace new technologies. Emerging technologies can disrupt existing industries, render certain products or services obsolete, or create new competitors that leverage technology to gain a competitive advantage.

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