The desicion has been made to continue with the project. A strategic approach and business plan for technological developemnt and go-to-market has been developed. The business plan envisaged 3 streams of work: 1) NDS SaaS platform development for the full market ready product, 2) integration with smart-farm technology for retting systems; 3) Digital loom integration through mechatronic weaving arm development. The immediate developement programme and initial go-to-market will focus on Stream 1, through a targeted and niche segmentation of the market defined for initial entry and optimised traction.
The following taks as defined in the original work plan were completed:
Description of work
Task 1: Market and Customer Analysis with risk assessment (M1 – M6). Detailed market research identifying all key actors, priority markets, market sizing, trends and segmentation. Identification of Serviceable Market and final obtainable market with 5-year projection. Detailed competitor analysis, benchmarking and customer surveys – determine market costs and final pricing. Identification of key market risks and mitigation plan.
Task 2: Marketing/Sales Strategy (M4-M5). Definition of the strategy for reaching the target international market, arousing customer´s and stakeholders’ interest in the innovative service, risk management and pricing strategy. A preliminary commercial expansion plan stating the steps to commercialise our solution taking into account above the risks, market analysis, swot, and technological analysis.
Task 3: Stakeholders engagement and evaluation (M2-M6). We will explore and contact potential stakeholders to reach exploitation agreements for development. This task will help to design an interviews’ agenda to be implemented within and beyond this project and arrange demonstration meetings for engaging potential partners. Our objective within SMEInst-Ph1 action is to arrange at least 12 meetings covering the different markets. We also plan to attend 2 major international events to further evaluate partnerships.
Task 4: Technology analysis and innovation roadmap (M3-M6). The Innovation strategy will be defined to meet the future market demands and adaptation to international market & regulations. 1) Short term Roadmap gathering adaptations needed based on the prior business models and internationalisation plan, 2) Medium/Long term Roadmap intended to include in the service and its viability study according with the mature of them. Technology risk assessment.
Task 5: Freedom to operate: IP, regulations, standards compliance and policies (M3-M6). SWOT analysis (i) External factors: analysis of macro-environmental and micro-environmental factors: new entrants, substitutes, competitive; (ii) Internal analysis: economic, financial, commercial, operational, R&D and human resource factors. Study of regulations, standards and IPR issues, especially artists rights and data privacy. An IPR protection strategy at a global level strategy will be developed, including knowledge protection (intangible assets, NDAs/legal protection, trade secrets, copyright…, registration of IP where possible e.g. algorithm in US), and strategies to protect against new entrants. Assess costs and provide FTO risk assessment. GDPR requirements.
Task 6: Operational, Technology and Financial requirements analysis (M2-M6). We will analyse and assess the operational (staff needs), technology (product design and scalability needs, interoperability. Staff needs and training requirements, facilities. Customer service and assurance needs. Identify Operational and Financial risks and mitigation strategies.
Task 7: Financial Projections & Funding Requirements (M5-M6). Financial analysis (investments need, business model and sales expectations) for 5-year business plan, including assessment of costs and projections, taking into account detailed market studies, technical and operational requirements. needs for a successful market launch, expansion and sustainability. Review of the key assumptions used for developing the financial projection as income sources, projected Innovation costs; employees projected each year and the investment in equipment/materials. Develop a profit and loss account for the first five years and the balance sheet and funding requirements.
