Periodic Reporting for period 1 - DSES (Development of an Electronic Wireless Safety System for Power Tools)
Reporting period: 2019-08-01 to 2019-11-30
Currently around 340 million occupational accidents occur world-wide annually, with the global cost of work-related injuries and deaths valued at almost €2.64 trillion. Accidents caused by power tools are a major cause of concern for the industry, therefore the focus of our company has always been the development of innovative solutions that addresses the needs of the power tool market for users’ safety, comfort and ergonomics. The overall target of the DSES project is to provide an electronic wireless safety system adapted in the new generation of our power tools, offering a solution that is unmatched in the power tools industry. DSES will be a holistic safety solution offering several options to provide the best level of safety in each work application, reducing inconvenience with improvement in ergonomy and ease to use.
The Feasibility Report has planned the steps for DSES safety system to be commercialized. Technological viability has been confirmed, with a clear roadmap to reach commercialization stage. Commercial feasibility has been verified, identifying the multiple target market applications and respective end users available for our power tools and evaluating the competitor’s landscape and market barriers. Additionally, the regulatory pathway to be met before market launch has been analysed and a FtO analysis has been performed to establish our IP protection strategy as well as mapping of our supply-chain and dissemination/communication activities. Finally, financial feasibility work has mapped the break-even date for 2022 and Return on Investment as high as of 11.77 by 2026 according to our financial forecast
By further developing the DSES safety system a huge opportunity for INFACO to capture and grow our company shares in respective markets is presented. DSES will disrupt the power tools market allowing us to introduce an innovative safety system with unique characteristics compared to competition. It will boost the growth of our company and enable the power tools’ sector to eliminate tools-related accidents and increase its’ productivity. Fewer workplace accidents mean a reduction in lost work hours and costs on treating work related injuries