During this project, the market requirements were studied in more detail and the most promising markets identified. We have investigated the regulatory requirements of the markets of the interest. We established new contact was with the key market players and new distribution partnerships were established. We have initially agreed on the global distribution with one of the partners. Pricing strategies and characteristics of competing products were studied and compared to our offering.
We have investigated the life-science requirements in terms of the toxicity of our products and also performed further product validations with potential customers. We have identified and confirmed a partner for the further development of the life-science components of our system, along with the application for the grant to prepare advanced prototypes.
We have performed a marketing analysis and defined a clear marketing strategy. We have started to prepare new marketing materials along with the promotional videos.
To decrease the manufacturing risk we investigated options for the production facility, location, and the machines. We got in touch with the number of manufacturers and distributors.
A SWOT analysis was carried out and contingencies established where possible. Additionally, freedom to operate search was carried out and the regulatory landscape studied to identify further potential hurdles. Based on the findings, a clear plan was established to move forward, including the conceptual design of a pilot plant, the search for potential pilot plant sites.