Activities performed and results obtained:
Task 1: Technical feasibility: We have analyzed the technical requirements of OptoForceX for its compatibility of our system to the most important robot manufacturers. We have defined the technical specifications of the product and the project technical goals. We have prepared the technical execution plan to implement, test and validate OptoForceX, including schedule, resources and cost baselines. Finally, we have prepared a technical risk assessment defining mitigation and contingency plans.
Task 2 Market Analysis and IPR strategy: We have performed a detailed analysis of the robotics market worldwide which included identification of the needs and expectations of our customers, end-users, distributors and other project stakeholders.
We have investigated market trends, drivers, threats and opportunities and carefully analyzed competitors and competing products. We have also evaluated the strengths and weaknesses of our network and refined of our value proposition and our product cost/benefit analysis. We carried out a commercial risk assessment listing challenges and barriers and the means of averting them. We have updated our patent search and technology watch and checked that no IPR conflicts exist for OptoForceX commercialization.
As a result, we have defined our go-to-market strategy and our plans for commercialization, exploitation, IPR protection and dissemination in the target markets including the planning of activities to be performed in phase 2. We have devised a plan for product demonstration and identified collaboration strategies with distributors and manufacturers to host our product demonstrators during phase 2. We have also revised the regulatory framework and confirmed our roadmap for product certification
Task 3 Business plan: We have created an updated business plan which includes the evaluation of total investment, financial risks and mitigation strategies. We have performed a 5-year analysis on cash-flow and revenues and estimated project financial indicators such as payback and ROI. Budget for phase II has been estimated and required funding beyond the project has been analyzed.
