Periodic Reporting for period 1 - EnCORE (Machine state forecasting technology coupled with product quality control to unleash productivity for the manufacturing sector (EnCORE))
Periodo di rendicontazione: 2020-01-01 al 2020-04-30
CORE develops proprietary machine state forecasting technology tuned for the manufacturing sector. In the project, we validated the technical, commercial and financial viability related with EnCORE commercialization.
In the technical part, we developed several dashboards to strengthen EnCORE’s ease of use from machine operators. We established our roadmap to advance EnCORE to TRL-9, analyzed key technical risks and established their mitigation actions. In the commercial part, we analyzed the trends and drivers that will fuel EnCORE adoption by the manufacturing sector, and we analyzed our target segments. We tuned our commercialization plan for wide market uptake, aiming to launch EnCORE to the most technologically advanced markets. Also, we performed a thorough Freedom to Operate analysis, which confirmed that our technology does not infringe any existing IPR.
EnCORE offers a drastic reduction (-51%) of downtime due to unplanned maintenance activities. This translates to important cost-savings, which will allow our customers to recoup their investment in our product in less than 1 year. This will fuel the adoption of our technology by the manufacturing sector. During commercialization, we forecast generating cumulative sales of about €23 million and growing our team by 30 new employees, to meet market demand. At the same time, EnCORE will allow the EU manufacturing industry to generate cost savings of at least €78 million. Furthermore, EnCORE will significantly improve workplace health and safety in the manufacturing sector. EnCORE will provide accurate information of machine’s state early in advance, hence reducing the risk of failure and the risk of harm to personnel. Also, EnCORE’s remote monitoring features will reduce the number of personnel on the shop-floor and decrease the number of people at risk.
In the technical part, we developed several dashboards to strengthen EnCORE’s ease of use from machine operators. We established our roadmap to advance EnCORE to TRL-9, analyzed key technical risks and established their mitigation actions. In the commercial part, we analyzed the trends and drivers that will fuel EnCORE adoption by the manufacturing sector, and we analyzed our target segments. We tuned our commercialization plan for wide market uptake, aiming to launch EnCORE to the most technologically advanced markets. Also, we performed a thorough Freedom to Operate analysis, which confirmed that our technology does not infringe any existing IPR.
EnCORE offers a drastic reduction (-51%) of downtime due to unplanned maintenance activities. This translates to important cost-savings, which will allow our customers to recoup their investment in our product in less than 1 year. This will fuel the adoption of our technology by the manufacturing sector. During commercialization, we forecast generating cumulative sales of about €23 million and growing our team by 30 new employees, to meet market demand. At the same time, EnCORE will allow the EU manufacturing industry to generate cost savings of at least €78 million. Furthermore, EnCORE will significantly improve workplace health and safety in the manufacturing sector. EnCORE will provide accurate information of machine’s state early in advance, hence reducing the risk of failure and the risk of harm to personnel. Also, EnCORE’s remote monitoring features will reduce the number of personnel on the shop-floor and decrease the number of people at risk.
CORE develops proprietary machine state forecasting technology tuned for the requirements of the manufacturing sector. In this project, CORE optimized the product development roadmap to advance EnCORE product TRL-9 and accelerate its’ market entry to the EU manufacturing industry. Also, an analysis of target markets and main drivers that will fuel the adoption of our new technology was performed.
In the technical part, we developed several dashboards to strengthen EnCORE’s ease of use. We established our roadmap to advance EnCORE to TRL-9, analyzed key technical risks and established their mitigation actions. In the commercial part, we analyzed the trends and drivers that will fuel EnCORE adoption by the manufacturing sector, and we analyzed our target segments. We tuned our commercialization plan for wide market uptake, aiming to launch EnCORE to the most technologically advanced markets. Our competition analysis validated our lead over existing products. Also, we performed a Freedom to Operate analysis, which confirmed that our technology does not infringe any existing IPR. From the financial side, we calculated the necessary financial resources to launch EnCORE to the market, and we forecasted two revenue cases (high and low) for the commercialization period.
In the technical part, we developed several dashboards to strengthen EnCORE’s ease of use. We established our roadmap to advance EnCORE to TRL-9, analyzed key technical risks and established their mitigation actions. In the commercial part, we analyzed the trends and drivers that will fuel EnCORE adoption by the manufacturing sector, and we analyzed our target segments. We tuned our commercialization plan for wide market uptake, aiming to launch EnCORE to the most technologically advanced markets. Our competition analysis validated our lead over existing products. Also, we performed a Freedom to Operate analysis, which confirmed that our technology does not infringe any existing IPR. From the financial side, we calculated the necessary financial resources to launch EnCORE to the market, and we forecasted two revenue cases (high and low) for the commercialization period.
EnCORE offers a drastic reduction (-51%) of downtime due to unplanned maintenance activities. This translates to important cost-savings, which will allow our customers to recoup their investment in our product in less than 1 year. During commercialization EU manufacturers using EnCORE will enjoy cost savings of at least €78 million. Furthermore, EnCORE will improve workplace health and safety in the manufacturing sector. EnCORE will provide accurate information of machine’s state early in advance, hence reducing the risk of failure and the risk of harm to personnel. Also, EnCORE’s remote monitoring features will reduce the number of personnel on the shop-floor and decrease the number of people at risk at work.