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Team:Calgary Entrepreneurial/Project/Model
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<h2>Year Three</h2> | <h2>Year Three</h2> | ||
<p>By year three we envision moving from building the prototype system to ensuring it works in the conditions needed. We will have begun the transitioning from prototype development to scaled up mass-manufacturing of the technology. Our system will have achieved the necessary regulatory approval and initial sales of the system will have begun with key industry players who we began engaging with in year one. We will have conducted several demonstrations of our final system to our potential customers. Finally, we will have accelerated our capital investment strategy by looking to angel investment. | <p>By year three we envision moving from building the prototype system to ensuring it works in the conditions needed. We will have begun the transitioning from prototype development to scaled up mass-manufacturing of the technology. Our system will have achieved the necessary regulatory approval and initial sales of the system will have begun with key industry players who we began engaging with in year one. We will have conducted several demonstrations of our final system to our potential customers. Finally, we will have accelerated our capital investment strategy by looking to angel investment. | ||
| - | <p>Funding Sources: Angel Investment, Grants</p> | + | <p>Funding Sources: Angel Investment, Customers, Grants</p> |
<h2>Year Five</h2> | <h2>Year Five</h2> | ||
<p>With our initial system having moved from prototype to mass-produced product to first sale, we will pivot to diversifying the sensing ability of our technology. By diversifying the technologies application we aim to begin entering markets outside Canada. Inside Canada, we will have moved beyond our first sale to obtaining a sizable portion of the sensing market. To accomplish our growth aims we will begin transitioning to the next stage of capital investments. | <p>With our initial system having moved from prototype to mass-produced product to first sale, we will pivot to diversifying the sensing ability of our technology. By diversifying the technologies application we aim to begin entering markets outside Canada. Inside Canada, we will have moved beyond our first sale to obtaining a sizable portion of the sensing market. To accomplish our growth aims we will begin transitioning to the next stage of capital investments. | ||
| - | <p>Funding Sources: Venture Capital</p> | + | <p>Funding Sources: Customers, Venture Capital</p> |
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Revision as of 06:24, 25 October 2013
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Milestones
Ensuring that we achieve success in a timely manner it is vital to the success of FREDsense. We have strategically planned our actions going forward to both utilize our resources in the most effective way and to meet the needs of our market. Here we outline how FREDsense will grow over the next 5 years.
Our Ongoing Plan
Developing a solid plan that clearly outlines a strategic direction for our future is critical. To this end we have developed short and long-term business outlooks for the development of our technology, the legal implications and financial stakes. These milestones are broken down into 1, 3, and 5 year goals.
Year One
This stage of our development will see continued development of our technology and strategic actions to protect our intellectual property. We will begin the process of obtaining regulatory approvals for our final system. Additionally, to enable steady growth for our technologies market we will be engaging with key industry players. Finally, we will be actively engaged in raising capital to continue all stages of development.
Funding Sources: Accelerators, Corporate, Grants, Private Investment
Year Three
By year three we envision moving from building the prototype system to ensuring it works in the conditions needed. We will have begun the transitioning from prototype development to scaled up mass-manufacturing of the technology. Our system will have achieved the necessary regulatory approval and initial sales of the system will have begun with key industry players who we began engaging with in year one. We will have conducted several demonstrations of our final system to our potential customers. Finally, we will have accelerated our capital investment strategy by looking to angel investment.
Funding Sources: Angel Investment, Customers, Grants
Year Five
With our initial system having moved from prototype to mass-produced product to first sale, we will pivot to diversifying the sensing ability of our technology. By diversifying the technologies application we aim to begin entering markets outside Canada. Inside Canada, we will have moved beyond our first sale to obtaining a sizable portion of the sensing market. To accomplish our growth aims we will begin transitioning to the next stage of capital investments.
Funding Sources: Customers, Venture Capital
