Funding

SECTION I: ESTIMATION OF COSTS

 

1 Taking into account the rest of the cost evaluation please provide an overall estimation of the total costs for full deployment/production of the R & D result.
… in terms of IPR protection
License file application  700 euros, maintenance 350 euros/year
…in terms of product development
Advancing to beta version requires:Business analyst  improvement of website procedures 2PM x 3000=6000

Web developer – improvement of user interface 4PM x 3000 = 12000

…in terms of mass production
There are no mass production cost
… in terms of marketing
There is major marketing cost at the end of year where the beta version will be launched. This cost includes mainly internet marketing through banner promotion and marketing gimmicks to divert potential users. These gimmicks include photo contests and learning the islands information campaigns.

 

2 Based on the above assessment as well as the marketing information please provide the correct estimation of the price for R&D product in correlation with costs 
    Year 1 Year 2 Year 3 Year 4 Year 5  
  Fixed costs 20000 30000 30000 30000 30000  
  Personnel 30000 18000 24000 30000 36000  
  Other running costs 10000 9000 12000 15000 18000  
  Marketing costs 30.000 10.000 10.000 10.000 10.000  
  TOTAL EXPECTED COSTS 90000 67000 76000 85000 94000  
  Price per Unit 300 300 300 300 300  
  Number of Units 200 300 400 500 600  
  TOTAL Expected Revenues 60000 90000 120000 150000 180000  
  CASH FLOW REQUIRED (REVENUES-COSTS) -30000 23000 44000 65000 86000  
  TOTAL CAPITAL required for five years 30.000  
                 

SECTION 2: QUALITATIVE FACTORS

3 Dimension of identified target groups
Target groups related to tourism promotion is estimated to 20000  From the market the product aims to earn 10% market share,

 

4 Evaluation of financial Risks for R&D result
The financial risks involve mainly product development costs for gaining competitive advantage over the competition. Technical risks are important and must carefully managed and monitored. Corrective actions must be planned to avoid implementation problems and misconfigurations. This risks cover the first year of the operational plan. The new version should be launched at the beginning of second year without delays as time to market is a crucial factor for ICT products.

SECTION 3: IDENTIFICATION OF FINANCING SOURCES

After evaluating all the above mentioned criteria, please tick the best financing source for the achievement of R&D result (i.e. own capitals, banking credits, venture capital, business angels, etc)

1. European FundingDefine relevance of the product with the following potential funding sources and comment
FP7 STREP Digital Content and LibrariesFP7 IST

FP7 e-content 

 

2. National Funding
Not available

 

3. Private funding
Joint ventures with private investors in the form of spin-offVenture capital financing

 

 

4. Other
Partially financing of operating cost through incubators

SECTION 3: FINAL EVALUATION

It is requested a final evaluation considering the funding opportunities you believe most suitable for the exploitation of the R&D result, considering the possibility of the creation of a spin-off, further research, in particular, a cost/benefit analysis and a financial projection for the R&D result, type of collaboration identified (i.e. Licensing Agreement, Technical Cooperation, Joint Venture, Manufacturing Agreement, Commercial Agreement with Technical Assistance, Creation of a spin-off, Joint further development)…
The product requires low investment level. So self financing and possible funding is suggested.

Decision of evaluation

The R&D has a high potential of exploitation

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