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Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - Efficient Cooking (Substainable and efficient food processing and cooking sytem)

Teaser

Summary

We have leveraged H2020 Phase 1 grant and coach support to conduct an in depth market research
and assess the technical feasibility of our solution and its fit to customer demand. The main conclusion
regarding the market and the customer demand is that the differences between B2B and B2C markets
is somewhat blur, as part of the B2C customers are looking for the same features the B2B customers
are and the new features introduced per request of the B2C customers open new opportunities in the
B2B segment as well, opening new opportunity windows. That means that there will be an overlap of
segments. We have also checked our IP roadmap and found no significant changes on our previous
view. We have afterwards reviewed our strategic direction according to the results of the research and
the help of our assigned coach to decide which directions fit better with our long term goals, which has
had an impact on partnership strategy and go to market strategy. According to this findings we are
implementing some changes that should result in a better short term go to market but also in a better
positioning of the company to achieve our long-term goals.

We consider that support from the H2020 program in getting access to funding and finding talent in
some fields will help us progress much faster.

Work performed

1. Technical analysis
Evaluation of technical implications, IP requirements and cost analysis

2. Analysis of potential applications of our technology in other food processing
Research on potential Applications of developed Technology other than the one sought. Liaison with potential partners to develop Systems in different Applications of the same technology

3. Market Analysis

Market research in main markets, customer interviews, feedback on pricing and evaluation of demand elasticity

4. Stakeholders â€“ Analysis of proposed solutions

Evaluation of different distribution models. Evaluation of partnerships that would help us ramp up sales

5. Business Plan

Match P&L projections with data gathered during the analysis

6. Conclusion of the action
The differences between B2B and B2C markets is somewhat blur.
Market assessment is difficult as this is a completely new technology, but we have evaluated interest from customers in direct interaction with them with good results, so we have decided to move forward with the project. Besides direct sales, we have spotted opportunities to license our technology for industrial applications and to develop new consumer products with some partners

Final results

YWe expect the introduction of these new features in our product will help us get into the home consumer market and help people getting back to home cooking without needing to spend time in the kitchen, reducing food waste and energy consumption, plus avoiding eating pre-processed food (too much salt, oil, sugar and preservatives) in favour of fresh food. It will also help us push internationalization of our product and opening new markets.