Periodic Reporting for period 1 - NEXTMOL (NEXTMOL - A virtual lab for safe and sustainable chemicals)
Période du rapport: 2022-06-01 au 2023-01-31
New chemical compounds are mainly designed and characterized using a traditional trial-and-error experimental approach. Modern-day developments and increased innovation requirements push the chemical industry to find solutions to reduce the time and cost of new chemicals discovery. Bytelab Solutions is developing a software-as-a-service platform that will bring chemical research and development to a new level. The technology combines molecular modelling and artificial intelligence tools for the efficient development of new compounds and significantly shortens the development time of new chemicals in comparison to traditional laboratory approaches. The EU-funded NEXTMOL project has provided support in defining the growth and funding strategy for shifting from organic growth to scalable growth the company, attracting chemical industry customers, approaching investors, and improving gender diversity.
The activities performed in the project are the following:
1. Elaboration of business and financial plans, including updated market study; elaborated detailed financials; elaborated HR plan needed to achieve the next level; sized the computational infrastructure needed for growth; identified possible strategic alliances; received mentoring from several advisors.
2. Update of our marketing and sales plan, and started to execute it, including inbound marketing; outbound prospecting; participation in events such as South Summit, Union of Mediterranean Women Business Forum, Chemical Ventures Conference, Barcelona Deep Tech Summit, Chem-Match, Web Summit, SusChem Brokerage Event.
3. Approached investors, having held more than 30 meetings, face-to-face and online, with investors (business angels, venture capital, corporate venture capital) during the project, and participated in 4 relevant events to network with investors (South Summit, Chemical Ventures Conference, Barcelona Deep Tech Summit, Web Summit).
4. Improved gender diversity, having proactively promoted our company among female chemists and computer scientists with the aim of attracting more female talent to the company.
5. Successful participation in the EIC Women Leadership Programme.
1. Elaboration of business and financial plans, including updated market study; elaborated detailed financials; elaborated HR plan needed to achieve the next level; sized the computational infrastructure needed for growth; identified possible strategic alliances; received mentoring from several advisors.
2. Update of our marketing and sales plan, and started to execute it, including inbound marketing; outbound prospecting; participation in events such as South Summit, Union of Mediterranean Women Business Forum, Chemical Ventures Conference, Barcelona Deep Tech Summit, Chem-Match, Web Summit, SusChem Brokerage Event.
3. Approached investors, having held more than 30 meetings, face-to-face and online, with investors (business angels, venture capital, corporate venture capital) during the project, and participated in 4 relevant events to network with investors (South Summit, Chemical Ventures Conference, Barcelona Deep Tech Summit, Web Summit).
4. Improved gender diversity, having proactively promoted our company among female chemists and computer scientists with the aim of attracting more female talent to the company.
5. Successful participation in the EIC Women Leadership Programme.
The main result of the project is that the company has increased its market and investment readiness by interacting with its recurrent and new customers, understanding investors, gaining visibility, and defining its growth and funding strategies; and it is currently ready for going to the next stage.