During the 6 months of Phase 1 Microphyt conducted the following activities:
- Developing additional microalgae sourcing for the SMILE project: Amongst ten microalgae strains identified as potential candidates, Microphyt aimed at validating the production of the natural mix of compounds from at least one new microalgae strain. There were laboratory and industrial culture trials and biological and chemical characterization of the new biomass and extracts samples to demonstrate the high content of biomasses in targeted compounds. As a result of those activities, Microphyt identified 2 strains whose technical and economic viability was demonstrated.
- Conducting a complete IP analysis on the project: To identify new IP opportunities and to carry out Freedom to Operate (FTO) analysis, an IP expert supported Microphyt in this evaluation. FTO analysis has limited the risk of any patent infringements regarding implemented technologies, microalgae strains used and nutritional claims targeted. The outcome of this analysis is positive for Microphyt.
- Completing a Regulatory analysis of the proposed products: For Europe, further assessment of Novel Food regulation constraints related to the targeted species were carried out for each candidate species. Specialized subcontractors and consultants supported Microphyt in the assessment of the duration and cost analysis. These conclusions constituted a key driver to select the final species used for ingredient development.
- Delivering a detailed Business Plan: In a first approach Microphyt performed a preliminary market analysis and built up a simplified business plan regarding the SMILE project. These studies showed a favourable market context. During the SME Instrument Phase 1 feasibility study Microphyt consolidated a detailed business plan related to the commercialisation of the new ingredient, including further analysis of barriers to entries and market opportunities.
