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 IPR protection cost is about 2.500-3.000 € for the Italian patent and 25.000-30.000 € for an European Patent.
The authors have already received a report on the patentability of the invention from a PATLIB center.
|…in terms of product development|
|Cost for the realization of the prototype: 50.000 €
Cost for product certification: not quantifiable at the moment
Cost of personnel dedicated to the product development: 35.000 €
|…in terms of mass production|
|In order to start the mass production, TuLab needs a shed (more or less 240.000 €).
The shed has a cost of depreciation per year of about 3%
|… in terms of marketing|
Can be estimated in 20.000 € per 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|
|Year 1||Year 2||Year 3||Year 4||Year 5|
|Other running costs||12.500 + 40.000||12.500 + 80.000||12.500 + 130.000||12.500+ 150.000||12.500 + 150.000|
|TOTAL EXPECTED COSTS||184.700||224.700||294.700||349.700||349.700|
|Price per Unit||5.000||5.000||5.000||5.000||5.000|
|Type of Unit|
|Number of Units||20||40||65||100||100|
|TOTAL Expected Revenues||100.000||200.000||325.000||500.000||500.000|
|CASH FLOW REQUIRED (REVENUES-COSTS)||(84.700)||(24.700)||30.300||150.300||150.300|
|TOTAL CAPITAL required for five years||109.400|
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|
In Italy, an estimation of the new houses built in a year is about 200.000.
The micro CHP system is mainly directed to the new houses. So the estimation is to reach 1% of annual market after the start up period.
During the start up period instead, the estimation is very cautious (about 325 products).
|6||Evaluation of financial Risks for R&D result|
|At the beginning, the company needs a strong investment because of the shed purchase. This investment can lead to an immediate negative cash flow.
But the company doesn’t need others investment and the majority of the other costs are variable costs, so the financial risk should be under control.
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|
|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|
|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. … 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)
Business angels and venture capitalists.
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)…|
|Although the project is still an idea, it seems to have the right characteristics to become a spin off (innovation, competences of the staff, potential market, …).
Nevertheless, it is necessary to verify the patentability of the idea and to implement an in-depth analysis of competitors, market and economic and financial aspects before deciding to set up the NewCo.
Clearly it is necessary in the meantime the realization of the prototype.
The authors should consider the regional and european funding opportunities for the implementation of the prototype and the launch of new business.
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|