Periodic Reporting for period 1 - STAR (SAFE, TRANSPARENT, ACTIVE AND RELIABLE MINERAL BASED SUNSCREEN INGREDIENT TECHNOLOGY)
Reporting period: 2016-12-01 to 2017-05-31
STAR Project involves preparation of a detailed feasibility report about MicNo® Particle Technology which provides novel safe, transparent, broad UV (Ultraviolet) -spectrum and reliable MicNo®-ZnO (Zinc Oxide) particles for sunscreen industry. The MicNo® particles are designed, nano-thick platelet shaped micron particles which are composed of nano primary particles to solve sunscreen manufacturers’ problems. This unique morphology brings performance advantages over both micron and nanosized particles. The objective of STAR project was to “communicate our patented MicNo® technology to the sunscreen producers, meanwhile defining the necessary investment needs”.
Therefore, this feasibility study centres around activities to understand the market (Task I) and introduce MicNo® Particle Technology to the sector representatives to increase recognition of our product (Task II). In the Tasks III and IV, investment requirements and risk analysis were identified. Accordingly, this feasibility report contains details of the four tasks and subsequently a Detailed Business Plan that was developed based on the outcomes of the tasks.
The study clearly showed that the sun care market is growing at a high rate and especially use of ZnO will show strong growth among other UV-filters due to the recent approval of ZnO in Europe. Furthermore, mineral-based sunscreens are both end-consumers and formulators’ preference and they can be more popular if some of the drawbacks associated with currently available ZnO ingredients (whitening, unsmooth feeling and safety issues) are eliminated. Since MicNo®-ZnO solves almost all these problems, it clearly satisfies the market’s needs and can extend the current mineral-based sunscreen market significantly.