During our 4-months Feasibility Study, based on the original work plan proposed in the Phase 1 proposal, we have carried out the following activities:
On the technical side, we have performed a detailed analysis of the development work ahead that led us to the preparation of a complete execution plan that will take our product from its current stage of development to its final configuration, tested in operating conditions and ready for certification. We have also identified the required third party subcontractors that will support us in the execution of the Phase 2 project and, developed a complete exploitation plan which includes the identification of resources needed to enter the production phase.
On the commercial side, we made an in-depth analysis of the target markets, stated our marketing and pricing strategies and developed a complete pre-commercialization plan to be implemented during Phase 2. Furthermore, a complete Freedom-to-Operate analysis was performed which confirmed the novelty of the HYPAS concept and the absence of existing threats for its commercialization.
Financially, several scenarios have been detailed, leading to consolidated financial projections for the period 2018-2022 with a highly positive turnover increase. Sources of funding have been evaluated, leading to our decision to present a Horizon 2020 SME instrument Phase 2 proposal in September 2015.