Development of prototype, customer relationships and scalable business strategy based on step 1 insights

Important results from the project

All objectives and purposes are met: 1a. We have developed the patent and IP strategy. 1b. We have improved investment readiness by developing the technology, IP strategy, corporate structure, legal documents and team. 1c. The group and partnership strategy has been developed with a vertical company strategy with an associated IP agreement. 1d. The go-to-market strategy has been developed with focus on the OEM market, mainly in wind power and marine applications. 2. We have laid the foundation for an MVP prototype.

Expected long term effects

The results are described in the goal achievement section. Through the project´s activities, the company now has a stable foundation to stand on in the face of the capital acquisition and strong expansion that the innovation itself makes possible. We expect that within 1-2 years we will raise venture capital and expand the business so that we can eventually develop quality products for the OEM market in wind power and marine applications, but in the long term also in the automotive industry and other applications, and create many new jobs.

Approach and implementation

For technical development, customer contacts and collaborations, we have used our own staff and personal contacts, partly for cost reasons, but mainly for competence reasons because a consultant would have had difficulty learning our complex technology for such a short time period. For IPR related work, legal work and business related issues, we have used consultants in combination with our own time. We think this arrangement has turned out well. Due to Covid19, we have not been to fairs/conferences, which would have been good for network building.