The following main activities have been performed during the six-month feasibility study:
• Revision of technical design of the system to reduce manufacturing cost
• Product supply chain identification
• Communication with major diary industry in Germany, the Netherlands, The UK, Ireland, France and Israel
• Market analysis that includes size, growth and trend of niche market for the PRISE. The market opportunity of our product and necessary strategies have been studied.
• Competitor analysis.
• Technical, environmental, management and commercial risks have been investigated.
• Strength, Weakness, Opportunities and Threats (SWOT) and Porter’s five forces analysis.
• Financial plan for next five years were done
• IPR management plan have been formulated
• Consolidated business plan.
The main results of our activities:
• The entire system was evaluated and it is optimized to reduce the cost by ca. 25%
• We communicated with several dairy industries in the Europe and could established preliminary contacts to validate our system during the planned phase 2 project.
• We have strengthen our supply chain.
• We have identified our niche market, its size, growth and trends.
• The potential risks of our product are identified and we have developed necessary measures to overcome the potential risks.
• We consulted with an IPR attorney to verify the chance of patent application of our system. The positive analysis will allow us to apply for the patent soon.