Over six months, we have been able to advance our understanding of the technical feasibility of our solution in near term real usage situation, as well as how to best position ourselves for strong market entry. We have completed a SWOT analysis that showed us we need to obtain internal commercial resource as soon as possible and that we also need to improve our connections with private investment capital. The business plan has been updated, including market size updates, competitor review, business model and goto market strategy.
We have worked to complete a functioning prototype of EMWORK and have demonstrated this to a potential end user company. The results were very positive (the prototype performed correctly) and the end user showed strong interest to purchase the product when finalised. Further end users were spoken to and all replicated the strong interest to purchase the product in the future, thus potential exploitation is looking positive. Our planned production and calibration strategy was updated.
We dissemintated the product at an event and with printed material. Further, we developed a communications plan to be activitated as the company grows at the end of this year and into 2020.
A plan for obtaining ISO9001 certification has been made and we have advanced our knowledge of and contacts within the EMC regulatory bodies.
Moreover we conducted a patentability analysis with a patent attorney during this Feasibility Study and found that some unpublished aspects are potentially patentable. We are now beginning to draft this patent with an aim to apply soon.
