Funding

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
Costs for: 

  • Website
  • Participation in trade fairs
  • Advertising on specialist publications

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
Fixed costs 7.200 7.200 7.200 7.200 7.200
Personnel 105.000 105.000 105.000 140.000 140.000
Other running costs 12.500 + 40.000 12.500 + 80.000 12.500 + 130.000 12.500+ 150.000 12.500 + 150.000
Marketing costs 20.000 20.000 40.000 40.000 40.000
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
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.  

2.

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. … 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.

4 Other
Personal capital 

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

 

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