Report
Teaser, summary, work performed and final results
Periodic Reporting for period 1 - NANOFACTORY (NANOFACTORY – 3D micro – nano fabrication device)
Teaser
During the SME instrument Phase 1 project an elaborate feasibility study was conducted to implement the following tasks: market research, user needs analysis and preparation of technical specification, IPR strategy development and comprehensive business plan development for...
Summary
During the SME instrument Phase 1 project an elaborate feasibility study was conducted to implement the following tasks: market research, user needs analysis and preparation of technical specification, IPR strategy development and comprehensive business plan development for future commercialization.
Nanotechnology industry is growing at 17% of CAGR. The number of academic papers in nanoscience is increasing exponentially. It is expected that the advances in the field of nanotechnology will change the perception of other industries completely. Advancements in nanotechnologies in medical industry will allow to ensure the ability of treatment of any disease as well as get rid of some pharmaceutical solutions which were not sufficiently effective. Developments in the field of AI and its applications could be accelerated by the usage of the sensors with extended characteristics. Rapid prototyping in nanotechnology is essential in encouraging productive and ground-breaking research.
The number of industries face the barrier for further advancements due to inability to fabricate items with sub-micron precision from various materials. Most of existing solutions do not allow to achieve the needed size of the output as well as an error rate is high. The factor of rapidness is a matter of question for many existing solutions.
The objective of the Phase 1 project was to develop a market entry feasibility study for Femtika Nanofactory commercialization that would include thorough market research, user need analysis, patent landscape analysis, and business model design. The SME instrument Phase 1 project allowed Femtika to conduct a feasibility study, improve the final design of Nanofactory, and prepare itself for commercialization of the innovative solution.
Work performed
Market research revealed that the target markets have relatively high growth rates (>10% CAGR). The markets can be described of medium competition intensity. The companies face the need for downscaling the size of the objects produced as well as improvements in the precision of the fabricated items. Potential market demand was identified, the most attractive first entry countries were chosen for sales. Femtika outlined competitive advantages of Nanofactory, and, thus, finalized the initial market entry strategy.
During the patent landscape analysis Femtika thoroughly studied related patents, identified the potential limits to the innovation project, and decided on the further steps for the reliable IPRs establishment.
Finally, Femtika developed a business model and elaborated business plan, which would be used as a roadmap for commercialization of Femtika Nanofactory as well as for further development of Femtika’s business. Femtika decided to enter the market with direct sales of equipment strategy, because it allows to avoid the barriers other strategies suggest and ensure relatively easy first entry. In the following years it is going to enter industries with a ready solution for the products in CIS, and medical devices markets. Femtika should focus on collaboration with leaders in research to promote Nanofactory and generate publicity for its technology.
Final results
From the technology perspective, Femtika works on achieving even better results in terms of fabrication time. Improvements in time of production will open new horizons for industrial application of the equipment.
From the business perspective, the team is working on the implementation of commercialization plan. Upon obtainment of certificates and receiving IPR protection Femtika will start its global expansion.
In the long term, Nanofactory will have a significant effect on many industries from manufacturing to medical. Nanofactory will speed up the developments in these fields which will be experienced by roughly everyone. Nanofactory will allow more space for research, and even create sub-industries which means additional workplaces and promotion of economic growth.
Website & more info
More info: https://www.femtika.lt.