if u have tool kit which is not yet rusted, i am sure you can enter the market.
apply porter's five forces to understand what kind of competitive advantage do you have. Your own tool kit is ofcourse only internal advantage. For example, how does your tool compared with tools of others and whether you can do some about gaps in your tool kit to get some sort of competitive advantage will be in your advantage.
Its always good to do some sort of benchmarking on your tool. May be you could use strategy consultants at your firm or farm out this study to BCG or may be use free resources on this site. After benchmarking you will know what areas to work on and whether your tool will be appealing to the potential market or not. This insight will help you avoid wasting you precious time at coffee machines in case benchmark indicates that there is no hope for you.