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Periodic Reporting for period 1 - OPENJOY (OPENJOY)

Reporting period: 2015-12-01 to 2016-04-30

The objectives of the feasibility study were 100% achieved during its 5 months of execution, as per the work description.

The objective of this Phase 1 project has been to carry out a Feasibility Study comprehending 5 main areas, as described in DoA: 1) Market analysis, 2) Internationalization and Business Development analysis, 3) Technological needs and definition of product validation 4) IPR and legal issues analysis 5) Financial Analysis.
During the execution of Phase 1 these five objectives were re-aligned and strengthened through the Coaching Plan (as part of the support brought by the SME instrument and the Enterprise Europe Network - EEN), addressing and strengthening 3 main aspects: 1) understanding of the target market(s); 2) describing the business model 3) planning of strategic partnerships and alliances.

We have also carried out different studies addressed to proving the feasibility of OPENJOY both as a product and as a highly profitable business. In order to do this, we have deeply assessed the main needs of our project, complemented with intensive desk research, in-lab testing and data collected through stakeholder interviews.

Specifically, during the execution of Phase 1 we have carried out a detailed assessment of OPENJOY’s target markets; interviewed and collected commitment to the project from potential commercialization partners within the beverage industry; analysed the IP regime and legal frameworks in our priority target countries, including technology watch and identification of novel technologies in easy-open caps sealing systems; identified and characterized key market players; and built a clear and fully market-oriented innovation roadmap for Phase 2 and beyond.

The main conclusion of our Phase 1 report is that the initial business idea is achievable. OPENJOY has potential to positively disrupt the current offer in easy-open systems for glass bottles whilst, at the same time, it creates a clear opportunity for high-growth for our companies.

Next phase will be addressed to carrying out the Business Innovation Plan result of this Feasibility Study (FS). It will be mainly addressed to paving the way to OPENJOY in its route to market, providing final improvements to the current OPENJOY’s prototype and initiating the necessary planning and investments for industrial scale-up.
1. Market Analysis
One of the main activities carried out during the FS has been the assessment of the beverage market and its different sub-markets, looking for the most relevant and optimal industry within it for initial penetration of OPENJOY.
For the purpose of OPENJOY, only those products distributed in glass bottles can make use of crown caps (or easy-open system compatible with crown caps). In this sense, the beer market is the most important market for OPENJOY.
We have carried out also a study on the most suitable countries for the commercialization of OPENJOY within the beer sector. Taking into account our already existing and future strategic partnerships in local markets, we have selected 6 target regions, leaders also in beer production and consumption.
We also addressed the exercise of estimating the sizing of the beer market for OPENJOY:
- Market size for beers distributed under easy-open & crown caps = €192,85 billion.
- Market size for beers distributed under easy-open caps only = €28,92 billion
Finally, during the FS we have conducted and assessment on the technology needs to bring OPENJOY from the current TRL7 to TRL9 and we carried out intensive contacts with relevant manufacturers of metal fittings, capping machines and caps plastics parts.

2. Internationalization and business development strategy
During the execution of Phase 1 we have further developed the preliminary study on OPENJOY’s commercialization strategy. After the selection of the key regions for OPENJOY commercialization, we have defined the 3 main commercialization stages for penetrating in each of those markets.
We have conducted an intense activity addressed to the involvement and engagement of potential commercialization allies and distributors of OPENJOY in Spain and Europe, as a first stage. We have been focussed on engaging relevant actors within the beverage industry (in special, within the beer industry) in view to the future commercialization of OPENJOY. In that sense, we have made relevant progresses obtaining interest in the use of OPENJOY from relevant caps manufacturers and beverage companies, including micro-breweries and large international companies.
One of the most relevant achievements during Phase 1 is the confirmation of our Unique Selling Points (USP), both for end-users and industry. in that sense, we plan to promote intensively the project and its findings during Phase 2. To this end our objectives will be to capture attention, to highlight and enhance the benefits of the SME Instrument, to attract business and potential partners and to create market demand.

3. Technological needs and product validation definition
During the FS we have conducted and assessment on the technology needs to bring OPENJOY from the current TRL7 to TRL9.
As part of the activities carried out during the FS we conducted a preliminary assessment of potentially suitable materials to be used in the plastic and metallic bodies of OPENJOY.
As a result, the study concluded that during Phase 2 two main technical activities well need be carried out to make OPENJOY commercially ready for the beer sector and we have defined 5 main technological activities for Phase 2

4. IPR and legal issues analysis
As part of the activities carried out during the FS, we have conducted a preliminary Freedom to Operate (FTO) analysis on our target countries. As a result, we have found 216 patent families. For Phase 2, we plan to hire an expert IP consultancy firm to further analyse these results and provide an opinion.
World beer market is expected to register a 6% CAGR within the period 2015-2020, growing up to €606 billion by 2020.

The size of our potential target market is estimated in 28,9 billion of easy-open caps. Considering that OPENJOY’s sale price is 0,014€/unit, this gives a potential market size of €404,9 million.

In total, we project to generate revenues in 5th year of sales worth €3,1 million. Cash Flow for that same year is estimated in €1,9 million. In terms of employment, we expect to generate 70 jobs (20 direct and 50 indirect) by the end of the 5th year of sales, as a result of the services o for caps production and sales management as well as technical support generated by the commercialization in Spain and the rest of target countries of OPENJOY.