Periodic Reporting for period 1 - EUWaste (Ecological Utilization of Waste)
Reporting period: 2016-03-01 to 2016-08-31
Based on the conclusions of the feasibility study and the results of the project with all the underlying tasks, the positive results, feedback, and viable market entry strategy entail that INECO will continue to develop its product in order to effectively expand into identified markets and thereby provide disruptive change in the waste management market.
Market research consisted of a detailed analysis of potential markets, (Poland, Spain, Italy and Turkey) including analysis of prices, methods and processes of medical waste utilization, revenues of waste utilization industry, market size and trends, demand and supply, sales projection, entry barriers and problems, legal issues, safety requirements (tests on safety), etc. Target audience analysis and competition analysis were conducted. Based upon the market research findings, business models for emerging and developed market were designed. Also, maintenance strategy, collaboration models with utilizers and pricing strategy were developed as a part of business model. It allowed INECO to select suitable marketing and communication channels with potential clients. After choosing the potential regions for pilot project potential partners were identified and contacted in order verify entry strategy, collaboration model, supply and maintenance strategy and pricing strategy. According to the insights of this pilot project market entry strategy, collaboration model with waste utilizers, supply and maintenance strategy and pricing strategy were adapted. In-depth analysis of regulations in selected countries was conducted to identify potential legal barriers for MedWaste Pro gasifier to enter the market. During the EUWaste project patent search was done, patent application was prepared and new IPR Strategy was developed.
The results of these activities resulted in the development of a feasibility study and an elaborated business plan. The business plan provides valuable input towards INECO further development and commercialization of MedWaste Pro gasifer and scaling it to other markets.
In the short run proposed solution brings several benefits:
• significant cost savings in waste utilization against the state of the art for waste treatment plants or alternative medical waste treatment methods;
• shorter, faster and safer waste utilization process;
• reduction of greenhouse gas and other pollutants emissions.
In the long run, MedWaste Pro gasifiers developed by INEKO can help European countries to turn waste into resources on the way towards a circular economy. INECO’s ambition is to continue the development of gasification technology further and launch new products for waste utilization as well as develop waste-to-energy solution while building its brand and expending to other countries. The overall ambition of INECO is to be a technology development company, developing and introducing new ideas and products for efficient and safe utilization, waste-to-energy production and environment impact measurement. Increasing demand for alternative energy and request for safe and environment friendly technologies provides INECO with a big potential for growth.