Within SME Instrument Phase 1, we have taken a step forward in the technical, commercial, legal and financial aspects of Neural Designer.
In the technical part, we have added new members to the development team. A new version, more optimized and plenty of innovations, has been released. Also, we have already developed different model selection algorithms to automatically find out which are the most relevant variables in a data set.
In the commercial part, an extensive analysis of the predictive analytics market has been carried out and the strategies needed to achieve our business goals have been defined. We have increased the sales team and are preparing a strong marketing campaign to advertise Neural Designer in our key target markets.
In the legal part, we have developed an effective strategy to manage and protect the intangible assets of Artelnics. This plan sets out a blueprint for a number of initiatives that the company will take in various areas, including intellectual property rights, trademarks and confidentiality.
In the financial part, sources of funding, sales forecast, expenses budget, cash-flow statement, return on investment and sensitivity have been analyzed in detail. The budget required for the successful development of Neural Designer has been calculated, and the feasibility of the project confirmed.
This study will allow Artelnics to apply for Phase 2 support, in which Neural Designer will be developed to become the most disruptive tool on the predictive analytics market.