Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - NbyN (Transitioning Textile Industry Into the 21st Century: the New Generation Needle by Needle Knitting Machine)

Teaser

The knitting machine industry has not evolved significantly in the past 25 years and they use the same mainly mechanical and partially electrical knitting machines today as they did in the last millennium. Based on our 30+ years’ experience in this industry we have developed...

Summary

The knitting machine industry has not evolved significantly in the past 25 years and they use the same mainly mechanical and partially electrical knitting machines today as they did in the last millennium.
Based on our 30+ years’ experience in this industry we have developed a new type of knitting machine that can revolutionise the complete industry. Instead of moving the knitting needles using mechanical cams on a predefined route (present solution used by industry), we have integrated miniature stepper motors to move each needle individually (needle by needle). Our innovation results in a faster, more versatile and cheaper machine allowing the production of limitless different designs in a single batch (Just in Time manufacturing). The aim of NbyN development is to take our circular knitting machine for hosiery to the market (as the market entry point) and through it pilot the technology for the industry. The second step will be to apply our NbyN technology to all type of knitting machines.
The potential impact of this development is huge in the long term, but even in the short term we see that the NbyN circular knitting machines for hosiery will generate profits in the region of € 5 million 3 years after the development is completed. We have wide range of networks (over 50 past customers) and have sold over 1,500 custom machines to the industry. Based on feedback from our flagship partners there is a significant need for our innovation. This gives us the perfect platform to commercialise our new technology.
The aim of the Phase 1 project was to review the market, adjust our business strategy (licencing or distribution) and prepare for product development under the Phase 2 project.

Work performed

• We have carried out an updated market assessment both locally, for Europe and globally. We identified that the market for hosiery is gradually growing and as a result the global knitting machine sales are also growing.
• We have analysed the current trends and found that on-demand production to match customer preferences is becoming a key issue in the fashion industry. This is a main driver behind the NbyN technology as it is the prefect tool to achieve flexible manufacturing through digitalisation of the knitting industry.
• We have created a business concept and validated it with potential end users, but most importantly we have developed a commercialisation strategy. Our strategy depends on external players (manufacturers and distributors) who can make our capacities scalable and also allow geographical expansion. We have identified these partners and made agreements with them so when the NbyN technology reaches the market we will be prepared to meet the demand.
• We have created an operational model and have planned our own expansion strategy to be in line with the technological development of the project. We identified the resources that we need to invest and have created a strategy to achieve our goals.
• We have identified and made agreements with a number of piloting partners from different sectors of the textile industry. Originally the plan was to identify 2 end users who would validate our technology but based on the great interest we have received, we have included 2 additional partners who can give valuable support for the validation to ensure successful market entry.
• We have carried out a technological feasibility to validate our technology and also to support our pricing policy. We have developed a small scale prototype and identified the stepper motor needed for our development. This was a vital step, as we have validated the chosen stepper motor.
• We have identified the possible risks that may arise in our project and have developed corresponding mitigation actions for all.
• We have expended our freedom to operate analysis and have update our IPR strategy with the support of a professional IPR consultancy.
• Based on our developed business model and pricing calculations we have derived a modest business plan and calculated that the investment required to complete the development. We will breakeven in less than 2 years and we can achieve a return on the investment of over 3, three years after commercialisation.

Final results

During the feasibility study we build a prototype and validated the NbyN technology. The next step is to integrate the technology into our existing circular knitting machine.
As a result of the project we plan to revolutionize the knitting industry similarly how digital printing changed the printing industry from offset printing to give way to on-demand production in the textile industry.

Website & more info

More info: http://www.baiff.net/.