PART B: VALORISATION PLAN
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 this section we expect an analysis of funding needed or expected for valorization of the R&D result. An estimation is expected (range of costs not obviously exact amounts) | |
| … in terms of IPR protection | |
| The Eye-Go software can’t be protected by a patent.
Within European Union member states, indeed, a computer-implemented inventions which only solve a business problem using a computer, rather than a technical problem, are considered unpatentable as lacking an inventive step. Software is protected as works of literature under the Berne Convention. This allows the creator to prevent another entity from copying the program and there is generally no need to register code in order for it to be copyrighted. So, in this case the protection does not provide significant costs.
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| …in terms of product development | |
| In terms of product development, Eye-Tech needs a software developer for 6 months (18.000 €) and the relative travel costs (7.000 €)
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| …in terms of mass production | |
| There are not specific mass production costs
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| … in terms of marketing | |
| At the moment, the marketing costs are not predictable.
Eye-Tech needs indeed to clarify if the software will be implemented in the double door system. In this case, it will be useful a strategic partnership with a company that produces this kind of systems. |
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| 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 | 10.000 | 10.000 | 15.000 | |||
| Personnel | 60.000 | 60.000 | 90.000 | |||
| Other running costs | 8.000 | 20.000 | 36.500 | |||
| Marketing costs | 10.000 | 10.000 | 5.000 | |||
| TOTAL EXPECTED COSTS | 88.000 | 100.000 | 146.500 | |||
| Price per Unit | 1.000 | 1.000 | 1.000 | |||
| Type of Unit | ||||||
| Number of Units | 40 | 100 | 200 | |||
| TOTAL Expected Revenues | 40.000 | 100.000 | 200.000 | |||
| CASH FLOW REQUIRED (REVENUES-COSTS) | -48.000 | 0 | 53.500 | |||
| TOTAL CAPITAL required for five years | 48.000 | |||||
SECTION 2: QUALITATIVE FACTORS
| 4 | Dimension of identified target groups |
| An estimation of the proportion of the target market (described in Section 3) which we expect to take | |
| There is a huge number of bank branches all around the world.
The United States has the most banks in the world in terms of institutions (7,085 at the end of 2008) and possibly branches (82,000). As of Nov 2009, China’s top 4 banks have in excess of 67,000 branches with an additional 140 smaller banks with an undetermined number of branches. Japan had 129 banks and 12,000 branches. In 2004, Germany, France, and Italy each had more than 30,000 branches—more than double the 15,000 branches in the UK. So, there are at least 266.000 bank branches in the most important countries. The estimation of the target market is at least one in 100 branches, so 2.660 branches.
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| 6 | Evaluation of financial Risks for R&D result |
| The project has an implementation risk during the first year because of an estimate resistance to the introduction of the Eye-Go software in the bank system.
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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 Funding
Define relevance of the product with the following potential funding sources and comment |
| Note: INTERVALUE partners are expected to pre-define a list of existing European funding sources for product development available for the country and advisors will check whether the proposed product is relevant for that funding source or may define an additional source |
| 1. …FP7
2. …FP8 3. … 4. … |
| 2 National Funding |
| Note: INTERVALUE partners are expected to pre-define a list of existing national funding sources for product development available for the country and advisors will check whether the proposed product is relevant for that funding source or may define an additional source |
| 1. …LR 4/2005 (Friuli Venezia Giulia regional law for the development of innovative projects whose objective is the company growth)
2. …LR 26/2005 (Friuli Venezia Giulia regional law on innovation) 3. … … |
| 3 Private funding |
| Note: INTERVALUE partners are expected to pre-define a list of existing private funding sources for product development available for the country and advisors will check whether the proposed product is relevant for that funding source or may define an additional source |
| 1. …Business angels and venture capitalists. In particular there is an interest of a private national incubator for the Eye-Tech activity
2. …Private capital 3. … … |
| 4 Other |
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)… |
| Eye-Tech is a spin off company of the University of Udine created in 2007.
So it has a 4 years experience in the field of artificial vision and in particular of detection software. It knows the market and the competitors and it can draw on the expertise of the University of Udine AVIRES Lab. The Eye-Tech staff should invest in the Eye-Go software project in order to test the algorithm and think about the opportunity of a partnership with a company that produces double doors for banks. It should be strategic indeed to sell the software embedded in the double door system, and the integrated system could also be patenting.
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Decision of evaluation (Please tick as appropriate)
| þ | The R&D has a high potential of exploitation |
| The R&D result needs minor revisions | |
| The R&D result needs moderate revisions | |
| The R&D result needs major revisions | |
| The R&D result has no potential of exploitation |
Elisa Micelli
Fabio Santarossa
