Pivoting for progress

: Noah Therapies’ business model evolution

Abstract

This thesis examines the strategic evolution of Noah Therapies, a German digital healthcare startup, as it navigates the complexities of its market. Initially focused on a breast cancer companion app, Noah faced challenges securing investor funding, exposing gaps in its business model. In response, Noah implemented four strategic shifts: expanding its focus to holistic women’s health, transitioning from performance marketing to healthcare professional partnerships, bootstrapping operations, and adopting a service-oriented model, leading to a B2B contract to be acquired. Using a case study methodology this thesis analyzes Noah’s strategic pivots, showcasing it enabled Noah to overcome scalability, funding, and sustainability challenges. The Dissertation includes a Literature Review on topics related to the issues raised by the Case and a Teaching Note with an analysis of the challenges of the company. The findings emphasize the importance of iterative adaptation in navigating market complexities to build a sustainable business model, thereby contributing to the knowledge of business model innovation. Conclusions highlight the need for balancing scalability with mission-driven care to ensure long-term viability.

Date of Award	10 Feb 2025
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Nuno Magalhães Guedes (Supervisor)