During Phase 1, we defined the plan for technical development, including manufacturing automation. We analysed our production capacity and manufacturing processes in order to detect potential solutions to increase capacity while reducing production cost. We listed all the required tools and equipment to improve production and achieve a high quality/high reliable product.
Our market analysis detected potential business opportunities in three industries: food and beverage, petrochemical and chemical. As part of phase 1, we have met potential clients in all three industries to understand their needs and the market competitive environment. We performed the analysis of competitors and found the best way to position Stranich F3000 in the market.
Once our work plan was defined, we established the budget and did a risk analysis, including mitigation strategy. For the commercialization, we have been looking for potential clients to have our first pilot installation. We reviewed our IP strategy, confirming our Freedom to Operate. Finally, we created a more detailed financial model to assess the profitability of our business in the next five years.