During the SME instrument Phase 1 Dominion team conducted an elaborate feasibility study aimed at completion of the following tasks: market research, dealership and partnership development, IPR strategy development, business model and elaborated business plan development.
Market research revealed that Pipes.One technology for onsite large plastic pipes production is a unique solution that can disrupt existing market distribution chain. The feasibility study of the market validated that the large-diameter plastic pipes market saw a solid growth during the last few years. The growth is expected to sustain, and the market is forecasted to grow significantly at 11% CAGR from 2018 to 2021. Competitors’ analysis has shown that potential substitutes and alternatives do not fully satisfy customers’ needs and there is a significant technological gap between Pipes.One and closest competitors. Rigorous country-by-country research enabled to outline Pipes.One priority markets and select countries for market entrance.
During our research, we have conducted c. 100 interviews with potential clients, equipment producers, distributors and governmental authorities, which provided us with valuable feedback on the product and essential insights for our go-to-market and pricing strategy. The active participation in the conferences and exhibitions has enabled Dominion to create a network of commercialization and distribution partners to promote the company in the priority markets. Furthermore, Dominion began the process of Pipes.One product adaptation according to the customers’/ potential customer’s feedback.
Within the last 6 months, Dominion team has elaborated IPR strategy.
Finally, Dominion developed detailed business plan and financial model that will be used as a roadmap for Pipes.One commercialization as well as for further development of the business. This exercise allowed to fine-tune our business model, improve product-market fit, get a better understanding of cost-side of the business and most profitable revenue streams. All the tasks completed during the feasibility study allowed to develop a proper pricing strategy, a commercialization plan (as a comprehensive roadmap consisting of interrelated plans of final product design development, market expansion and related with them certification and dealership and partnership growth in each market).