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
There are no costs associated to IPR protection.
…in terms of product development
As mentioned in the ‘technical feasibility’ section, in case of extension with processing components, MATLAB license would be required. The cost of such license ranges between 1.400 and 5.000€. 

Additionally, the development of an on-line manual for potential users might be applicable. This cost can be estimated to 1.5 – 2 person-months.

…in terms of mass production
Not applicable.
… in terms of marketing
200.000€ 

It could raise more, according to the specified goals. This cost is the minimum cost for a 5 year marketing strategy which will include the developing of a marketing plan, the creation of a website, advertising in journals of medicine and in conferences, as well as targeted communication in order to address specific groups of potential users (clinics, universities, doctors’ associations etc.)

 

 

 

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 12.000 12.000 13.000 15.000 15.000
Personnel 20.000 36.000 40.000 48.000 50.000
Other running costs 2.000 2. 000 3.000 3.000 4.000
Marketing costs 44.000 36.000 40.000 40.000 40.000
TOTAL EXPECTED COSTS 78.000 86.000 96.000 106.000 109.000
Price per Unit Yearly subscription 75€ for individuals and 1.500€-4.000€ for institutional or large scale subscriptions
Type of Unit Yearly subscription
Number of Units 150 individual + 

8 institutional subscriptions

600 individual + 

30 institutional subscriptions

1.100 individual + 120 institutional subscriptions 2.000 individual + 190 institutional subscriptions 3.000 individual + 300 institutional subscriptions
TOTAL Expected Revenues 27.000 105.000 227.000 378.000 550.000
CASH FLOW REQUIRED (REVENUES-COSTS) -51.000 19.000 131.000 272.000 441.000
TOTAL CAPITAL required for five years ≈ 150.000€ for covering the costs of the first two years

 

 

SECTION 2: QUALITATIVE FACTORS

 

3 Dimension of identified target groups
Due to the unlimited possibilities of the specific R&D result, as well as to its numerous potential applications, target groups are difficult to be quantified. The product is addressed to the total number of hospitals and clinics and to all companies, research institutes and organizations, as well as individual researchers that would be interested in using information from bio-signals databases.

 

4 Evaluation of financial Risks for R&D result
Financial risks are limited as the cost of commercializing ROISES is restricted. However, the geographic dispersion of the targeted market can raise the cost of marketing.

 

 

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

1.  FP7 ICT 

2.  FP7 Health

3.  FP7 Research

4.  JEREMIE Initiative

 

2. National Funding
1. NSRF 2007-2013 – Operational Programme ‘Digital Convergence’ 

2. GSRT – PRAXE

 

3. Private funding
1. Joint ventures

 

4. Other
1. World Health Organization

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 examination of the R&D result has revealed its high added value and its unlimited possibilities for exploitation, especially in later stages of development and data integration. It opens a pathway for innovative applications and services in the sector of public health, includling the value of this framework in the integration, re-use and repurposing of biosignals acquired in clinical routine or during clinical trials. Given the estimated costs for its commercialization and existing possibilities for funding, best method for its exploitation is the creation of a spin-off company or a joint venture with an existing company or a health-related content publishing company.

 

 

Decision of evaluation

  • The R&D has a high potential of exploitation

 

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