Our overall objectives during Phase 1 were mostly connected to a successful market entry and the finding of stable partnership for commercialisation all over Europe. To reach these goals we have performed a market research where we found that there is a strong willingness to buy our product. In the framework of a detailed market research we organised a roadshow, where wheelchair-users tested the Stringhandbike and gave useful feedbacks. Also, during the market research we contacted wheelchair users’ associations which helped us to perform interviews with end-users about their willingness to buy and pay. Wheelchair producers and other relevant partners reflected about some technological details regarding the structure of the handbike (interconnectivity). Funding opportunities in the framework of health insurance and other schemes were also mapped as part of the market research.
According to our second objective we started to search for medical partner and have received our first letter of cooperation from the National Medical Rehabilitation Institute (OORI) who will test the bike with patients.
We also started to investigate the funding opportunities through health insurance schemes, and consulted with OORI. It turned out that it is usually very difficult to get funding in the framework of these insurance schemes in case of similar supplementary products of wheelchairs. Therefore, we decided to realise first our own business and commercialisation model in the European countries, and after a successful market launch further funding and sales channels will be used as well.
To fulfill our third objective we also contacted the best potential production partners Our closest partner is CSEPEL Bike Zrt who will be responsible for the serial production of the push-pull handbikes. We have found the other partners too that is detailed in the report of the Phase 1 project.
The last objective of Phase 1 project was to create an international know-how protection and certificating strategy. We performed a quick patent research, and we can declare that none of the existing handbike technologies uses string drive, therefore our innovation is unique. We paid significant attention to IPR issues from the beginning, and we obtained more patents in connection with our string driven bikes already in the early period of the developments. There are 3 patents related to our push-pull handbike: 1) a patent of a ‘Device for driving a common shaft by pushing and pulling’; 2) a patent of a ‘Wheel hub arrangement for a wheel driven by an alternating symmetric drive system using a flexible pulling element that can be used in vehicles particularly in bicycles’; and 3) a patent of an ‘Alternating drive primarily for bicycles and similar driven vehicles’. The patents cover the EU member states, Russia, USA, Canada, China and Japan. Our string drive technology is protected since the beginnings carefully, and our IPR issues are managed by Danubia Kft., which is the biggest company in this field in Hungary. Danubia Kft. is authorized to the full representation of Stringbike Kft. in know-how protection including the registration of the patents, their reservation and the legal representation in case of litigation. All patent rights belong to our company, the patent value is around 1 million EUR.