Periodic Reporting for period 1 - GTMBL (Go To Market Plan for Blue Lice)
Berichtszeitraum: 2022-06-01 bis 2023-01-31
Blue Lice is a company founded in 2017 with a goal to eliminate the need for sea lice treatment and become the leading preventative solution in the market. The company has delivered a Go-to-Market Plan through the Women TechEU program. Blue Lice aims to commercialize its technology in the top salmon-producing nations, starting with Norway, and then expand internationally. The company forecasts a 47% market share in the Norwegian market by 2030 and a 30% market share in the international market. Blue Lice has performed a SWOT analysis to develop its go-to-market strategy and business model. The company will implement a rental model with cost- and value-based pricing and subscription packages to achieve short-term and long-term goals. Blue Lice is committed to sustainability and recycling of system components. The company's upscaling plan includes investing in new technology, hiring and training new staff, and developing a strong company culture that promotes teamwork, innovation, and continuous improvement. Blue Lice plans to focus on sales, marketing, and continuously developing their system to become more efficient and add software/data features to increase the value proposition to their customers. Maintaining sustainability will be key to achieving the company's goals, and to improve its value chain, Blue Lice may need to expand its internal capacity through new hires or outsourcing certain high-cost activities.
During the project, we have successfully built a complete business plan, defining a go-to-market plan based on market intelligence.
Considering the UN´s SDG, we have defined a sustainable business model and analysed market trends, market segments and key target geographies relevant for the commercial rollout of our technology. We have performed quantitative research by interviewing fish farms and investors to understand first-hand their needs and concerns, to better scope our go-to-market strategy. Moreover, we have identified competing technologies and performed a detailed SWOT analysis to define our market strategy. By performing in-depth research, we have documented all potential customers in our national market and developed a rollout plan up to year 2030.
As part of the required tasks set out in the project´s GA, we have analysed the impact of the project in the company´s projected sales, revenue growth, sustainable impact, and job creation capacity.
Additional key tasks necessary for building the business plan have been performed, such as an in-depth risk analysis and detailed mitigation strategy for each identified risk as well as a detailed stakeholder analysis to determine the best engagement approach for each category of stakeholder.
We have also analysed the regulatory landscape of the lice regulatory requirements in different salmon producing countries, which impacts directly on the need for our customers to ensure they establish effective sea lice management strategies, and it is therefore paramount for our company to be updated with the latest regulatory developments and ensure full compliance of our technology. Furthermore, we have analysed and ensured compliance of our technology with all relevant standards as well as prepared a IP and knowledge management strategy. Finally, we have analysed the potential impact of our technology in the aquaculture industry, especially in reduction of salmon mortality, job creation and positive environmental impact.
During the project, we have successfully built a complete business plan, defining a go-to-market plan based on market intelligence.
Considering the UN´s SDG, we have defined a sustainable business model and analysed market trends, market segments and key target geographies relevant for the commercial rollout of our technology. We have performed quantitative research by interviewing fish farms and investors to understand first-hand their needs and concerns, to better scope our go-to-market strategy. Moreover, we have identified competing technologies and performed a detailed SWOT analysis to define our market strategy. By performing in-depth research, we have documented all potential customers in our national market and developed a rollout plan up to year 2030.
As part of the required tasks set out in the project´s GA, we have analysed the impact of the project in the company´s projected sales, revenue growth, sustainable impact, and job creation capacity.
Additional key tasks necessary for building the business plan have been performed, such as an in-depth risk analysis and detailed mitigation strategy for each identified risk as well as a detailed stakeholder analysis to determine the best engagement approach for each category of stakeholder.
We have also analysed the regulatory landscape of the lice regulatory requirements in different salmon producing countries, which impacts directly on the need for our customers to ensure they establish effective sea lice management strategies, and it is therefore paramount for our company to be updated with the latest regulatory developments and ensure full compliance of our technology. Furthermore, we have analysed and ensured compliance of our technology with all relevant standards as well as prepared a IP and knowledge management strategy. Finally, we have analysed the potential impact of our technology in the aquaculture industry, especially in reduction of salmon mortality, job creation and positive environmental impact.
Blue Lice has delivered an evaluation report describing the work done with the help of the grant. This report covers the entire go to market plan, business plan and business model based on a thorough market analysis.
The following tasks have been successfully completed during the project:
● Overall market analysis to segment Blue Lice’s market.
● Defining a sustainable business model following the UN´s Sustainable Development Goals (SDG).
● Creating a business plan.
● Defining a go-to-market plan based on market intelligence.
● Defining an upscaling plan for the company.
● Specifying the impact of the project in the company´s projected sales, revenue growth, sustainable impact and job creation capacity.
The following tasks have been successfully completed during the project:
● Overall market analysis to segment Blue Lice’s market.
● Defining a sustainable business model following the UN´s Sustainable Development Goals (SDG).
● Creating a business plan.
● Defining a go-to-market plan based on market intelligence.
● Defining an upscaling plan for the company.
● Specifying the impact of the project in the company´s projected sales, revenue growth, sustainable impact and job creation capacity.
The go-to-market plan provides valuable insights into the potential impacts of our product, identifying the key needs necessary for further uptake and success. During the development of the go-to-market plan, we have re-evaluated our sales plan and built a new pricing model ensuring recurring revenue as well as a strategy to successfully upscale and reach further integration of our value chain.