Periodic Reporting for period 1 - PRINTOO (PRINTOO - flexible, thin, printed electronics prototyping kit)
Reporting period: 2015-02-01 to 2015-07-31
The project was submitted to a crowdfunding platform, Kickstarter, to introduce Printoo to the World and test the market. With the goal set at $20,000, Printoo reached it in only 72 hours and achieved $80,000 at the end of the one month campaign. During the campaign, Printoo was covered in a wide range of global media news sites and blogs.
The objectives of this project were to assess the commercial feasibility of Printoo. While the Kickstarter campaign proved market demand for the project, Printoo is a technological product in a rapidly evolving, competitive landscape. In order to prove viability of Printoo as a business unit, a further study on the market sizes for the target markets, technical viability of the project, marketing models, product development roadmap, distribution and positioning was required.
The purpose of this feasibility study was to identify a sustainable way forward for Printoo as a business venture. We’ve concluded that in order to find long-term sustainability, a market with a large enough opportunity should be addressed. The educational market, large in size and with a growing opportunity for new technology, offers an approachable opportunity given the possibility of starting by addressing uncontested niche markets within the sector. The market for hardware prototyping tools is highly contestable and dynamic, indicating it may not be sustainable in the long term.