Task 1.1: Determine the Economic System Capacity [Estimated Cost: €15,000] This will be an iterative process led by the technical lead and team, in which a virtual simulated load is applied to our server based platform system to monitor response times against load. We will analyse the cost per unit traffic based on the level of resource required to respond to specific incidents. This will be compared against set economic targets to establish the number of users our system can economically support.
Expected Output: Document detailing simulation results and established system capacity.
Achieved: and summarised in Part B
Task 1.2: Market Study [Estimated Cost: €20,000] Our business development team will use desk based approach to analyse current industry reports to establish overall market trends. We will contact industry experts to obtain up-to-date industry analysis. Based on identified user needs, we will profile companies to establish a list of target customers to engage with pre-product launch. We will interview a select number to obtain customer specific value drivers to shape our proposed value proposition.
Expected Output: Detailed Market Study Report.
Achieved: Subcontracted, summarised in Part B
Task 1.3: IP and Commercialisation Strategy [Estimated Cost: €15,000] Our senior management will engage IP consultants to thoroughly investigate the IP landscape and also advise on protectable elements of our technology. Through this process, we will draw up an IP Strategy that identifies key protection and exploitation activities together with a timetable for implementation
Expected Output: An IP and Commercialisation Strategy Document.
Achieved: Report from IP lawyer summarised in Part B
Task 1.4: Partner Search [Estimated Cost: €10,000] Our senior management will conduct a gap analysis to identify key partners required for our supply, distribution and value networks. We will review our list of contacts and industry associations to identify suitable partners and initiate contact through telephone, email and face to face contact. We will seek to partner global brands to aid in our internationalisation efforts.
Expected Output: Expressions of interest and Memorandum of Understanding attained.
Achieved: Partners identified in Part B and recruitment ongoing.
Task 1.5: Business Plan [Estimated Cost: €12,000] Upon completion of all our planned activities, we will have the necessary information to update and refine our existing business plan to produce a more comprehensive document. Our business development team, championed by Robert Gupta, will produce a concise document with input from both our technical and financial functions-
Expected Output: Detailed business plan.
Achieved: Summarised in Part B, Full expanded document in preparation for multiple audiences (fundraising and Phase 2 proposal)
