The Raylap Project, under Phase 1 of the SME Instrument, has been developed as planned, in terms of deadlines, budgets, actions, and results obtained.
In its activities 1-2-3: Raylap has better defined current market potential for particulars and for all other players. We have entered into the detail of the segmentation and have done numerous interviews to better understand processes and journeys of the different players. We have investigated different strategical options, and through different investigations and market iterations we have chosen the most suitable ones for us. We have approached the strategic consultancy firm of Inspiria, who has guided us on the reflection process and has helped us to make decisions. A preliminary plan with specific goals, strategy, actions and KPIs has been drawn.
We have detailed and prototyped the behaviour and characteristics of each of the segments and we have been able to define the value proposition and the business model to access and collaborate with each of the different segments.
In its activity 4, regarding the Social and environmental impact assessment, Raylap has stressed the fact that we are aligned with the trends of urban mobility, sustainability and non-polluting goals within the different programs of the European Union. In addition, the boom in cycling within cities is changing the landscape and the strength of the electric companies, which are fully compatible and complementary to our contribution, helping to creating a positive environment for the following years of our project.
In its activity 5, regarding the Evaluation on knowledge protection and regulations, Raylap has been working on two stages. The first one is to define an IP Strategy supported by the company Clarks, regarding patent infringement and protection possibilities, and general industrial protection management coaching and actions., with a focus on the international strategy to protect our new products. The second stage has been to initiate the process to apply for a new patent regarding e-bikes new solutions.
In its activity 6 and 7, regarding the Technical assessment & Develop a product and service roadmap, operational analysis and plan,
the lab scale prototype worked at a functional level and demonstrated the technical capability of the system. The industrial scale prototype line is in an advanced stage thanks to the collaboration with Ingenialma. Raylap will be able to supply a 3D layout of the prototype, ready for the industrialisation process in Q3 2020. On the other hand, some improvements and the development of the product to adapt it to the e-bikes is envisaged for Q1 2021.
Production levels will depend on the player with whom we reach an agreement. This player will determine the production levels and the way of producing (outsourced to a third party or in collaboration with a component manufacturer).
In its activity 8 and 9, regarding the Financing strategy, financial assessment and planning and development of a feasibility study report and Business Plan, Raylap has redefined its Business Plan. The company INSPIRIA CONSULTING has collaborated with us for this task. In March 2020, an Executive Summary and a Business Plan was drawn up, especially in those main segments around business potential, the commercial strategy, general growth strategies and financials and forecasting for new financial rounds.
