We had three main tasks during this six month Feasibility Study:
For Task 1 Commercial feasibility and Dissemination:
We have researched and developed an understanding of the markets snow, bike, surf, skate and grip. The end result is that we have prioritised the markets of SNOW and BIKE. We also analysed the stakeholders and potential sales channels, visiting and talking to these different customer profiles and stakeholders across various sectors, and in different Countries and regions. We also attended the ISPO winter sports market gaining lots of useful contacts.
Through all the visits and the trade show we generated wide dissemination for the project, with an excellent reaction from every audience with spoke to. The results of this task have also meant that we have developed a market approach targeting the channels that should generate the fastest take-up. The approach is a mix of B2B and B2C that we detail in the report.
Task 2 Technical Feasibility:
We worked together with the research centre Leitat. Together we were able to benchmark the current ‘eco’ products, better understanding their performance levels. Following this, we developed a formula for an NZERO ECO BIKE LUBE, using natural, organic ingredients. Through careful analysis and computer design we were able to create a formula that maximised performance. It is now at TRL4 and we are completing the next phase of stability testing to move to commercial release. We also spoke with industry professionals and cyclists, analysing their needs regarding chain maintenance, before refining the concept for our product
Task 3 – Business Plan and Future Exploitation:
Having identified the most promising sales channels in Task 1 and the new product in Task 2, in Task 3 we planned the commercial approach for the next years in order to drive our companies growth and strong exploitation of the project and its results. Financial planning was undertaken, as was Intellectual Property Rights planning. The roadmap and strategy for developing new product formulas was created together with mapping of the risks and barriers for our commercial activities.
