Periodic Reporting for period 1 - Mag-Spin (A novel material for watch crystals and watch cases: Mg-spinel transparent ceramics)
Periodo di rendicontazione: 2019-11-01 al 2020-04-30
Today, consumers are more knowledgeable and interested in good watches than ever before; therefore, the consumers’ expectation from a watch is also for their craftsmanship, appeal and design. A fresh scratch on an otherwise flawless crystal is a devastating sight for such a watch user. Watch crystals and watch cases are unquestionably important parts since they protect the sensitive working mechanism from the external effects. Thus, vendors have to keep up with the trends by introducing innovative products/parts to satisfy the various needs of the customers. Mag-Spin is a brand-new material for the industry and has built-in advantages over the transparent materials used for watches.
The main objective of the project is to investigate pursuing a market development strategy. We aim to expand the usage of our technology within the wristwatch industry, focusing on watch crystals and cases, via an investigation of market opportunities. A Feasibility Study to verify the viability of our objectives to formulate an elaborate Business Plan – to be implemented in our Mag-Spin Phase II project is needed. The objectives are categorized as Market, Technical and Economic feasibility objectives that are designed to address the expected project impacts and exploitation objectives.
The main objective of the project is to investigate pursuing a market development strategy. We aim to expand the usage of our technology within the wristwatch industry, focusing on watch crystals and cases, via an investigation of market opportunities. A Feasibility Study to verify the viability of our objectives to formulate an elaborate Business Plan – to be implemented in our Mag-Spin Phase II project is needed. The objectives are categorized as Market, Technical and Economic feasibility objectives that are designed to address the expected project impacts and exploitation objectives.
Some of the work performed in relation to the project objectives are categorized and summarized as follows;
Product development:
* Improved our compositions and corresponding recipes for particular needs arose from the market & need analysis.
* Investigated the post production processing options and have some of our products processed.
* Work performed on colored and tinted products.
Marketing activities:
* Planned to attend trade shows, targeted some potential companies through social media, expanded potential stakeholder portfolio for better understanding of the European watch market.
* Updated IPR (Intellectual Property Rights) analysis and evaluated the user needs in more detail.
Commercialisation readiness and business:
* Continued market research activities - Mag-Spin is a good candidate to be used by the driving brands.
* Identified and classified the current interests shown to our product.
* Updated our knowledge about the market size
* Created draft detailed business forecast based on the target market segment, industry, and technical analyses.
Product development:
* Improved our compositions and corresponding recipes for particular needs arose from the market & need analysis.
* Investigated the post production processing options and have some of our products processed.
* Work performed on colored and tinted products.
Marketing activities:
* Planned to attend trade shows, targeted some potential companies through social media, expanded potential stakeholder portfolio for better understanding of the European watch market.
* Updated IPR (Intellectual Property Rights) analysis and evaluated the user needs in more detail.
Commercialisation readiness and business:
* Continued market research activities - Mag-Spin is a good candidate to be used by the driving brands.
* Identified and classified the current interests shown to our product.
* Updated our knowledge about the market size
* Created draft detailed business forecast based on the target market segment, industry, and technical analyses.
When compared to sapphire, the “closest” product to ours in terms of the properties and the market, Mag-Spin seems to slowly lose its price advantages because of the increased production volumes of sapphire in China. However, the following unique selling points are still more than enough to make Mag-Spin a competitive and preferable solution:
1- New to the market and yet compatible with the existing production line,
2- Allow embedded design (no such product is available in the market),
3- Possible to produce in colors that the market is looking for (blue, amber, grey),
4- Possible to tint and tune the level of transparency,
5- Built-in blackened frame,
6- Only alternative to sapphire for transparent watch cases with similar properties.
After successfully completing our SME Phase-1 project Mag-Spin under the EC Horizon 2020 programme, that was funded to conduct the present Feasibility Report. The result of this technical and commercial viability study has demonstrated that this project is a strong and solid candidate for the Phase-2B submission (EIC accelerator).
1- New to the market and yet compatible with the existing production line,
2- Allow embedded design (no such product is available in the market),
3- Possible to produce in colors that the market is looking for (blue, amber, grey),
4- Possible to tint and tune the level of transparency,
5- Built-in blackened frame,
6- Only alternative to sapphire for transparent watch cases with similar properties.
After successfully completing our SME Phase-1 project Mag-Spin under the EC Horizon 2020 programme, that was funded to conduct the present Feasibility Report. The result of this technical and commercial viability study has demonstrated that this project is a strong and solid candidate for the Phase-2B submission (EIC accelerator).