Periodic Reporting for period 1 - ColorBOX (Image Enhancement & Page Standardisation Solution for Error-free Printing and 35% Ink Saving)
Reporting period: 2018-05-01 to 2018-08-31
Processing, printing and online documents are on the to-do-list of any company, whatever their size and revenues. It is common experience that a lot of ink and paper are wasted in seeking the most enhanced and colour balanced print result. Pico ColorBOX is the disruptive tool that can really help the widest audience in the prepress workflow as it is an automated, customer-friendly, plug and play resource, that allows image enhancement and colour calibration. ColorBOX strongly prevents waste of ink and paper; it helps companies to build brand awareness; it is time-saver for the workers who otherwise will manually adjust images and files.
From our market research we have identified a global market value of $22.18b and the size of our segments of interst, which are printer vendors and vendor-specific printer models, within packaging and labelling companies, textile industry, printed-media, media agencies and communication offices at any level.
To complete the technical development, we elaborated a detailed work plan to increase the current TRL 6 prototype of ColorBOX up to TRL 9 during 24 months, when we will work in the development of a user-friendly could version of ColorBOX and in Software integration activities together with the development of a dedicated hardware.
Our Freedom to Operate analysis evaluated the risk of ColorBOX entering the market. None of the relevant patent applications offer a complete package of image enhancement, repurposing and file optimization including document dimensions, image conversion, DPI correction. In addition, our competitors’ offer does not hold a strong threat to our system, hence we have identified freedom for commercial operation with ColorBOX.
To complete the technical development, we elaborated a detailed work plan to increase the current TRL 6 prototype of ColorBOX up to TRL 9 during 24 months, when we will work in the development of a user-friendly could version of ColorBOX and in Software integration activities together with the development of a dedicated hardware.
Our Freedom to Operate analysis evaluated the risk of ColorBOX entering the market. None of the relevant patent applications offer a complete package of image enhancement, repurposing and file optimization including document dimensions, image conversion, DPI correction. In addition, our competitors’ offer does not hold a strong threat to our system, hence we have identified freedom for commercial operation with ColorBOX.
Once on the market, Pico will sell ColorBOX Full and Light, Plus an on demand cloud service online. We plan to use both direct and indirect sales, and offer distribution commissions to the sales intermediaries and partners. To disseminate our product, we plan to exhibit ColorBOX to our target market at events including Viscom Italia, Interpack (Germany) or SGIA Expo (USA). We will also implement a try & buy program, expecting from that an 80% conversion in the sales of our solution.