The key content of phase 1 was to verify attractiveness and applicability of our solution for professional agricultural society. We analyzed the intensity of current climate change, its impacts on agriculture, and identified the greatest pain and needs of farmers. We have also analyzed the seed market, its size, growth, trends, the most developed seed areas of the world, focusing especially on the situation within the EU. We have verified the uniqueness of our solution with other competing products. A competitive analysis contains also a selection of companies that have the greatest potential to be our future competitors. The information we obtained was used to quantify the overall market potential and possible market share for our solution. As part of the feasibility study, we have also selected the most appropriate business models in terms of market characteristics and our solution, and have identified the most appropriate way how to commercialize the product.
The following activities were performed within the phase1:
Verification of attractiveness, technical and commercial feasibility
- main challenge, fears, pains, needs and wants of target group
- attractiveness of our solution, main advantages, uniqueness
- competition analysis – product competition, main competitors, important news
- practical feasibility
- technological feasibility, technological uniqueness, differences to competitor´s solutions
- financial feasibility, financial advantages
Mapping market potential
- market description, trends, value, characteristics
- potential market for our solution, selection of the most suitable crops
- market share
Design and production capacities for scale up
- production capacity scale up, production lines
- product scalability, possible improvements of product
Completion of business plan
- road to market – sequence of steps, selection of crops, partners, regions
- business models
- definition of shareholders, subcontractors and their roles in road to commercialization
Results of phase1 confirmed the attractiveness of the hydrostimulating seed treatment among the professionals. Based on the information collected during this period, we defined sequence of activities needed to done on our way to the market.