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Team:Calgary Entrepreneurial/Project/Model
From 2013.igem.org
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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 Source: Grants, Company, Private Investment
Milestones: Prototype Development, Patent, Licensing Agreements/Partnerships, Regulatory Assessment
Year Three
Funding Source: Angel Investment, Grants
Milestones: Prototype Validation, Manufacturing Contracts, Pre-sales, Product Demonstration, Regulatory Approval
Year Five
Funding Source: Venture Capital Funding
Milestones: Capture 30% of Market, Product Diversification, Expand to USA
