The partners Eurek and 8B have been undertaking a Feasibility Study during the last 4 months, based on the original Work Plan proposed in the Phase 1 proposal, in order to analyze the key areas of our project.
Technically, based on our original espresso coffee machine prototype, we have further worked on optimizing the mechanical components and external design, the electronic components and boards, the control and associated software (leading to a more advanced prototype), focusing on the modularity aspect and the industrialisation requirements. We have carried out additional tests, evaluating the machine usability, the quality of the coffee and the overall energy consumption. We have also prepared the Execution Plan for the project (to move from TRL6 to TRL9), covering tasks such as planning, budget, risk analysis and organization.
Commercially, we have assessed in detail our target market, the espresso coffee machine market, with the objective of preparing a strong marketing strategy. We have also performed a Freedom-to-Operate analysis with patent search and technology watch, which is required to check and validate the innovation of our product. Lastly, we have prepared financial projections in order to evaluate the return on investment of the ESSENCE project for both partners.
Several scenarios and financial projections have been detailed and developed, leading to consolidated ESSENCE financial projections for the 2018-2022 period (revenues, break-even, commercial margin, Return on Investment).