Periodic Reporting for period 1 - B-Lock (The first Physical Access Control that uses uncopiable keys based on butterfly scales)
Reporting period: 2019-07-01 to 2019-10-31
The overall objective of the study has been to analyse the technical, commercial and financial fulfils all the technical, commercial and financial needs in order to ensure a successful commercialization. The specific objectives of this project were to gather feedback from potential customers and identify the required modifications, estimate the scaled-up production costs for three standard configurations and identify the technical risks and work plan for next step (EIC Accelerator project). From the commercial side, the objectives were to update our commercialisation strategy and refine our revenue model, engage with potential strategic partners and suppliers of key components, update the components prices, identify the relevant regulatory standards for key markets identified and perform an FTO analysis. From the financial point of view, the objectives were to estimate the budget needed to bring B-Lock to the market and to perform a detailed forecast for the first 5 years of commercialisation.
Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far
Based on the customer´s feedback, 5 technical issues have been addressed for further development of B-Lock. Also, the cost of the key components has been investigated and suppliers have been identified to achieve a clear understanding of the production costs of the B-Lock system. A detailed roadmap describing which markets to enter in the upcoming years has been made. We have made contacts with potential partners for further development of B-Lock and its adaptation so it could be used at different premises. Relevant national regulations have been studied to prepare for global market launch, and an FTO concluded that there are no published patents which might prevent the patentability and commercial exploitation of the B-Lock results. Robust financial predictions have been estimated based on information from existing customers of other Vlatacom product, resulting in a profitable ROI. A detailed budget and work plan for a 24-month project has been defined.
Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)
B-Lock is a patented disruptive Physical Access Control System (PACS) that uses uncopiable hardware keys based on unique and irreproducible butterfly scales (1 butterfly provides 200,000 unique keys). The uncopiable B-Lock key based on butterfly scales provides high-security, at Facility Security Level 5.