PART a: IDENTIFICATION OF R&D Result

PARTEA A: Identificarea rezultatului cercetării-deZvoltării (CD)

· The project team

Echipa proiectului

Advisor’s Name:Nume:	Department of Technologies and Materials and Department of Electrical Engineering
Phone:Telefon:	+40.721.195174
E-mail:	dumitrudc10@yahoo.com
Expecting date of valorization plan submission:Data aşteptată pentru trimiterea planului de valorizare	15.12.2011

· Identification of R&D activity

Identificarea activităţii de cercetare-dezvoltare (CD)

Acronym:Acronim:	DTM
Author of the R&D result:Autorul rezultatului CD:	Drd. Eng. Dumitru Violeta Dumitru
Company or University:Companies au universitate:	UNIVERSITY OF CRAIOVA, ROMANIA
Phone:Telefon:	+40.765.490314
E-mail:	dumitru.violeta@yahoo.com
Sector:Domeniu:	ENG – Engineering
Type of the R&D result:Tipul rezultatului CD:	Product

PART B: VALORISATION PLAN

Partea B: Planul de valorizare

SECTION I: ESTIMATION OF COSTS

Secţiunea I: Estimarea costurilor

… in terms of IPR protection

To protect intellectual property rights through a national patent, the estimated costs are about 1500 Euro.
For a possible patent protection in Europe, the estimated costs are about 4500 Euro.

…in terms of product development

Additional research costs for concept, design, manufacturing and testing of functional model are estimated at about 10,000 Euro.

…in terms of mass production

Mass production costs (design, prototyping, testing of series product, manufacturing technology, product commissioning, product certification) are estimated at about 160,000 euros.

… in terms of marketing

According to a given situation, the program objective is set-up: improvement of marketing channels by changing the weight of various circuits, for those that can provide simultaneously the possibility of increasing exports and increasing their efficiency. The program includes: market research, advertising and product price.
Marketing costs are estimated to be 12,000 Euro / year.

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 Pe baza evaluării anterioare şi pe baza informaţiilor de marketing vă rugăm să faceţi o estimare corectă a preţului produsului CD în corelatie cu costurile
		Year 1	Year 2	Year 3	Year 4	Year 5
Fixed costs Costuri fixe		168.000	265.000	504.000	783.000	1.333.000
Personnel Cheltuieli cu personalul		39.000	57.000	106.000	263.000	420.000
Other running costs Alte costuri de exploatare		5.000	8.000	11.000	26.000	43.000
Marketing costs Costuri de marketing		10.000	12.000	15.000	18.000	21.000
TOTAL EXPECTED COSTS *Costuri totale estimate*		222.000	342.000	636.000	1.090.000	1.814.000
Price per Unit Preţ unitar		10.000	9.500	9.250	9.000	8.500
Type of Unit Tipul produsului		Modular robotic system with flexible elements Sistem robotic modular cu elemente flexibile
Number of Units Numărul de unităţi		20	40	80	160	320
TOTAL Expected Revenues *Venituri totale estimate*		200.000	380.000	740.000	1.440.000	2.720.000
CASH FLOW REQUIRED (REVENUES-COSTS) Cash-flow (Venituri –Costuri)		-22.000	38.000	125.000	350.000	906.000
TOTAL CAPITAL required for five years *Capital total necesar pentru 5 ani*		Capital required for starting the business: about 300.000 Euro Capital required for covering the total estimated costs: about 4.000.000 Euro Capital pentru acoperirea costurilor estimate de start / totale

SECTION 2: QUALITATIVE FACTORS

Secţiunea 2: Factori calitativi

Dimension of identified target groupsDimensiunea grupurilor ţintă identificate

Detailed commentComentariu detaliat

Sizing of identified target groups (surgeons, industrial operators, teaching researchers) is about their ability, structure and area (location). Quantitative dimensions of target market are outlined by actual market volume and potential market volume. If the market is saturated, penetration on such a market can be done by removing some of competitors, and if the market is unsaturated, the possibility of implementing the product on such a market are equivalent to the difference between actual size and potential size, respectively.

In the field of medical devices there are many active manufacturing companies, but none of them produces high dexterity modular robotic systems. Romanian market of surgical robots is rated at about 12 million Euro / year. Over recent years, in Romania, there was an increase in sales of medical products due to penetration of multi-national companies on market, thus causing an increase in performance standards. Instead, lately, the effects of financial crisis were felt on the market of medical devices, which is reflected in lower sales.
Basically, Romania is a market space for medical devices. This market has grown steadily; its volume of sold products is increasing by a fast rate. Average annual growth is about16% over period 2005-2010.

Given the identified target market (hospitals, medical offices, small and medium enterprises), sizing of this market is quite large. It focused on various fields. In the first stage, the product covers about 6% of this market.

As for participation to international trade of major companies, there have been some changes. Thus, one can notice a slight decrease in the market share of foreign companies to the benefit of Romanian ones. Also, geographical area of international market has expanded in turn, by increasing the number of participants from about (5) companies in 2005 to over (10) companies in 2010. In this context, the number of exporters and importers has significantly increased on international markets of such product groups.

Evaluation of financial Risks for R&D resultEvaluarea riscului financiar al rezultatului CD

Detailed commentComentariu detaliat

To assess the financial risk of R&D result the potential sources of risk were identified and quantified through mathematical and statistical tools, then, the risk was measured through validity coefficients and confidence intervals attached to financial indicators.

Given the high costs required to achieve a competitive modular robotic system on market, the financial risk of R&D results has been assessed as medium. In this context, it is required an appropriate market study to reflect real trends of consumers and companies regarding the purchasing of such devices.
To sell an ever increasing volume, from one year to another, it must correlate with the market demand for products and influence of various incidental factors: credit policy, income level, financial crisis etc.
Competitors who can promote their products at lower prices and a certain level of quality represent another risk factor. Price differences can be countered by high performance of robotic system and benefits of minimal invasive surgery.
Also, the risks associated with product differentiation strategy, including a possible imitation by competitors, as well as and changing consumer preferences should be considered.
As regards the entire sample, the average value recorded for financial risk must be within the range (1.5% to 3.5%).

SECTION 3: IDENTIFICATION OF FINANCING SOURCES

Secţiunea 3: Indentificarea surselor de finanţare

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)

După evaluarea tuturor criteriilor menţionate mai sus, vă rugăm să încercuiţi cele mai potrivite surse de finanţare pentru valorificarea rezultatului CD (de ex. capitaluri proprii, credite bancare, business angels, etc.)

1. European Funding

1. Fonduri europene

Define relevance of the product with the following potential funding sources and comment

Definiţi relevanţa produsului cu următoarele surse potenţiale de finanţare şi comentaţi

1. Sectoral Operational Programme Increase of Economic Competitiveness

Programul Operaţional Sectorial Creşterea Competitivităţii Economice POSCCE

2. Seventh Framework Programme – FP7

Programul Cadru FP 7

3. INTERREG

4. Others

Altele

2. National Funding

2. Finanţare naţională

1. National Plan for Research, Development and Innovation

Planul National de Cercetare, Dezvoltare si Inovare – PN II

2. Sectorial Plan for RDI (Ministry of Economy)

Planul sectorial de cercetare-dezvoltare al Ministerului Economiei,

Comertului si Mediului de Afaceri din Romania .

3. Nucleu Programme (National Authority for Scientific Research)

Programul Nucleu (Autoritatea Naţională pentru Cercetare Ştiinţifică-ANCS)

4. Others

3. Private funding

3. Finanţare privată

1. Own capitals

Capitaluri proprii

2. Banking credit instutions

Instituţii de credit

3. Business Angels

4. Others

Altele

4. Other

4. Altele

Detailed commentComentariu detaliat

Regarding funding sources, a distinction have to be made between the stage of realization and preliminary testing of the product (prototype) and launching in series or mass manufacturing. For realization and prototype testing stage the following sources can be used:
- Structural funds (Sectoral Operational Programme “Increase of Economic Competitiveness” POS CCE);
- National Plan for Research, Development and Innovation – PN II, PC 7;
- Sectoral Research & Development Plan of the Ministry of Economy.

For launching into series production the following sources can be used:
- Structural funds, accessed through the Operational Programme POS CCE;
- Financial resources of private companies who want to support innovative ideas in technology.
Now, by taking into account the requirements and guarantees required for loans, credit banking institutions are not a viable alternative for funding this research. But in the future, bank credit institutions may become a possible source of funding for these development projects.
Also, for promotion and exploitation of research results there are useful programs such as INTERREG, SEE, targeting on cross-border cooperation.

SECTION 3: FINAL EVALUATION

Secţiunea 3: Evaluarea finală

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)…Este necesară o evaluare finală pe baza oportunităţilor de finanţare pe care le consideraţi cele mai potrivite pentru exploatarea rezultatului CD, având în vedere posibilitatea de a crea un spin-off, o cercetare viitoare, în particular, o analiză cost/beneficiu şi o previziune financiară pentru rezultatul CD, tipul de colaborare identificat (i.e. licenţă, cooperare tehnică, Joint Venture, contract de producţie, acord comercial cu asistenţă tehnică, crearea unui spin-off)…

From scientific and economic point of view, the “modular robotic system”, as a result of research leads to increased competitiveness of Romanian research in priority research areas, ie expansion of product offers, both nationally and regionally and in Europe / world.
Implementation of minimum invasive robotic surgery could open a prospect with huge economic benefits, namely:
- small incisions (10-15 mm), less damage of nerve and blood vessels;
- greatly reduced hospitalization time, quick recovery;
- patient’s pains are significantly reduced;
- aesthetic damage is minimal;
- better viewing of tissues – with details (HDTV, zoom);
- Increased operator’s safety;
- low cost of hospitalization.

From social point of view, this research leads to development of human resources in research. This opens the prospect for training of researchers, candidates to master studies, or doctoral research in priority areas.
Having in view that a patent application is proposed, the next steps on intellectual property are to get a patent both at national and European level. The costs involved in obtaining the patent certificate can be paid by the submitting institution, namely the University of Craiova.
For prototyping, testing and trial, the internal and external funding sources must be considered (national funds, structural funds, private investors), while technical cooperation might be an advantage in the marketplace.
In launching the manufacturing stage, making the series is mainly based on firm production contract with manufacturing companies (national and international) of medical devices.

Decision of evaluation (Please keep only the appropriate)

Decizia evalării (Vă rugăm să marcaţi răspunsul considerat corespunzător)

X	The R&D has a high potential of exploitationRezultatul CD are un potenţial ridicat de exploatare
	The R&D result needs minor revisionsRezultatul CD necesită revizii minore
	The R&D result needs moderate revisionsRezultatul CD necesită revizii moderate
	The R&D result needs major revisionsRezultatul CD necesită revizii majore
	The R&D result has no potential of exploitationRezultatul CD nu are potenţial de exploatare

We agree that all informations contained in this form to be made public in the project „Inter-regional cooperation for valorization of research results – INTERVALUE”, by publication on the project website: http://www.urenio.org/intervalue/.

Suntem de acord ca informaţiile cuprinse în acest formular să fie făcute publice în cadrul proiectului „Inter-regional cooperation for valorization of research results – INTERVALUE”, prin publicarea lor pe site-ul proiectului, la adresa: http://www.urenio.org/intervalue/.

Modular robotic system with flexible elements

Funding

· The project team

· Identification of R&D activity

DTM

PART B: VALORISATION PLAN

SECTION I: ESTIMATION OF COSTS

SECTION 2: QUALITATIVE FACTORS

SECTION 3: IDENTIFICATION OF FINANCING SOURCES

SECTION 3: FINAL EVALUATION

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