The financial support from the EC through the phase 1 “SME Instrument” program has allowed us to obtain an updated status of our initial business ideas. This study has opened a very broad prospective to us, and we have decided to continue our plans and prepare a phase 2 proposal.
Once done a pre-stage of technical analysis (step 1), market need (step 2) and venture assessment (step 3), in SMEi1 feasibility stage, to fit into the overall plan to reach the market, we have done the validation: i) the technical feasibility of full REACH QSARs models, nanomaterials models scope and the beta platform prototype with an implementation in two end-user/customer (step 4), ii) market study (step 5) and iii) the economic viability (step 6). The main conclusions of the development of Phase 1 of the project are:
- The platform has been tested in real environments (customers) with excellent results that ensure the technical feasibility of the program. Phase 2 of the Project must consolidate these results and allow the final development of the platform in view of the market launch.
- The potential market of the company focuses on the Pharma, Biotech, Agrochemicals and Cosmetic sectors, all of them sectors with excellent growth prospects and which represent 2,245 EUR Billion.
- The main competitors are in the USA, thus giving ProtoQSAR a great opportunity to lead the market in Europe, positioning itself as the most relevant specialist in computational QSAR models.
- The innovation of our technology guarantees that there is no risk of infringement and there is an opportunity to explore them due to the results of the analysis, so we can say that the technology of QSAREACH is new and goes beyond the state of the art.
- We have prepared a plan for exploiting and extending our portfolio, in two different ways of distribution: direct distributions and through key stakeholders. Also, we have fixed the pricing policy, which will be based on annual user licenses.
- The economic viability of the project has been established: the economic value of the investment calculated as the Net Present Value (NPV) is €70,903,558 and an Internal Rate of Return (IRR) of 178.52%.
- ProtoQSAR has recently signed a collaborating contract with a relevant client, a cosmetics company considered a leading company in the sector. This contract will enable ProtoQSAR to obtain experimental data from the company in vitro tests to validate the QSAR models developed in real environment. Furthermore, this cosmetics leader has engaged to implement the QSAREACH technological platform in house in order to benefit of the great impact in costs reduction and the chemical improved properties of its future products.