Over the course of the Phase I project, we were able to validate the technical feasibility of MENTEE by assessing the remaining technical requirements, as well as the corresponding risks and mitigation measures to be able to take MENTEE from TRL6 to TRL9. We identified the main development areas and set milestones for each one, including calendar and personnel effort.
We also performed a complete Freedom to Operate Analysis through the examination of global patent application databases, which successfully confirmed the innovative and unique characteristics of MENTEE. Additionally, on IPR issues, and given the B2C characteristics of MENTEE, we consider important to protect MENTEE with a trademark to better promote it for our clients and as marketing and commercial tool for our distributors.
The validation of the commercial feasibility involved the analysis of MENTEE´s value chain, identifying the characteristics of the schools, MENTEE´s end-user and customers, and their decision makers. This analysis included extensive research to identify global trends, market opportunities and risks, as well as identify the need for early adopters and business opportunities. The research allowed us to validate the complete commercial feasibility and identify the best approach towards full commercialization after the Phase II project.
Finally, to validate the financial feasibility, we also developed an exhaustive review of future revenues and costs, leading to a conservative sales forecast and ROI analysis for the 3 years following the full commercialization of MENTEE. The analysis includes a deep assessment of commercial risks associated with expanding our geographical markets.