Periodic Reporting for period 1 - MITTE (MITTE: Create your own mineral water like nature)
Reporting period: 2018-09-01 to 2018-12-31
Mitte® is the first smart home system that turns any tap water into safe and healthy mineral water, combining purification and enhancement in one device. The water is purified through our proprietary distillation method and after water is remineralized through our mineral cartridge to obtain balance and healthy water. The machine is also digitally integrated and connected to an app from where the user can control settings, check the status of the machine, get information about water quality, and track the amount of water dispensed.
This feasibility gathers up the technical results and the commercial plan activities necessary to bring mitte® to the market. The main objectives were to define the Design for Manufacturing, to plan the pre-series prototypes manufacturing and validation, to analyse the market and develop a strategic commercialization plan, to define the revenue model and development a detailed financial model considering the resources needed for serial production and quantification of the investment.
This feasibility gathers up the technical results and the commercial plan activities necessary to bring mitte® to the market. The main objectives were to define the Design for Manufacturing, to plan the pre-series prototypes manufacturing and validation, to analyse the market and develop a strategic commercialization plan, to define the revenue model and development a detailed financial model considering the resources needed for serial production and quantification of the investment.
In this feasibility we have developed a work plan that will allow us to achieve software improvements, hardware manufacturing, beta-testing and bug fixing to reach DFM, validation and certification activities during a period of 13 months. We have identified, contacted and selected the OEMs for the machine and the cartridges manufacturing based on the offers received and the best-value-for-money evaluation. Moreover, we have defined the main technical and commercial risks, the profile of consumers through a survey study, the commercial strategy to reach the market, business plan and stakeholders of our value chain. We have done a freedom to operate study concluding that there are no patents threatening the commercialization of mitte®. Financial activities included a 5-years sales and financial forecast and the detailed estimation of the investment needed to reach the commercialization stage.
Mitte® is the only water purifier on the market that purifies and remineralizes water in the same way that nature does. In addition, a litre of water manufactured by mitte® is cheaper than a litre of bottled water. Mitte® is available at a competitive rate compared to other purification systems. From an environmental point of view the use of mitte® will reduce water in production of plastics by 20 times, plastic waste by 50 times and CO2 emissions by 60 times, when compared to consuming bottled water.