We defined the required improvements based on the feedback of our current customers within the potato industry, as our primary customers. We defined the necessary tasks to upgrade our in-line, in-time food scanner, as well as all the resources needed in terms of personnel, materials, equipment and external collaborations, including customers to conduct trials with. We established a risk management plan with mitigation and contingency measures for the technical, commercial and financial aspects.
We evaluated the food analysis and the potato markets to confirm that our product is in line with the trends. Moreover, we conducted an FTO assessment to confirm that we can proceed with our project without any IP conflict and checked the competition, finding not real direct competitors.
Finally, we established the necessary investment to finalize our system and have it commercially ready by 2021, defined our funding strategy and established the 5-year sales projection following the Phase 2 project.