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GreatBay-SCIE aims to differentiate potential customers from various stakeholders, defining potential customers as targeted groups likely to purchase and use our products, while stakeholders are identified as individuals engaged in shaping the development of Dienamite.
To identify the primary potential customer of Dienamite, it is essential to delineate their characteristics and needs. Through discussions with diverse targeted customers(See iHP), GreatBay-SCIE has gained a more profound understanding of their needs (see Fig.3).
Consequently, GreatBay-SCIE has categorized potential customers into four distinct groups and identified individual flower growers as the foremost potential customer segment.
Through interviews with flower growers, they describe the problem brought by spider mites, causing fading leaves and white webs, and often leading to the abandonment of affected plants. These growers prioritize both the aesthetic appeal and health of their plants. Additionally, they have shown a strong willingness to attempt innovative solutions, such as genetically modified products like Dienamite. Given their openness to new approaches and the alignment of Dienamite’s benefits with their needs, flower growers are positioned as the primary potential customers, likely to adopt the product early and become a loyal customer base during its launch.
According to the data collected, personal flower growers predominantly range in age from 30 to 60 years and typically have families that include children and pets. Given that young children and animals may inadvertently come into contact with or even ingest pesticides applied on plants, these growers are actively seeking safer pesticide alternatives.
Personal flower growers frequently lack professional expertise and advanced skills when addressing spider mite infestations. The rapid development of resistance among spider mites to various pesticides has exacerbated the challenges associated with household extermination, necessitating the repeated application of multiple pesticide types. As a result, there is an urgent demand for a more efficient and convenient pesticide solution.
As plants are commonly placed throughout residential spaces, personal flower growers express a preference for odorless pesticides that do not disrupt their daily lives and having a better experience while using the pesticide. In addition, they expressed concerns that the irritating odor from pesticides could adversely affect their health. Thus, odorless pesticide would largely meet their needs.
In the perspective of farm owner, forestry bureau and plants caring company, they showed less interest in innovative solutions, likely due to their large eliminating areas and high opportunity costs of trying a new product. Thus, GreatBay-SCIE classified them as secondary potential customers and analyzed their characteristics.
GreatBay-SCIE initiated discussions with various farms, including strawberry and tea plantations, and found that they also suffer from spider mite infestations, which threaten product quality and cause economic losses. Some farmers even switched crops due to the severe impact, indicates a profound level of distress and the urgency of finding effective pest control measures. Therefore, GreatBay-SCIE defined them as a potential customer of Dienemite and analyse their demand deeply.
Farms often possess a large planting sclae, approximately 800 to 1,000 square meters. This extensive cultivation area, combined with high spraying frequency, create a noteworth demand for highly efficient pesticides that develop minimal resistance. As a result, they can reduce the frequency of changing the type of pesticide used, ultimately lowering the costs associated with planting commercial crops and maximizing profits. In this context, farms are seeking more profitable and effective pesticide solutions
Farms producing food as commercial goods are acutely aware of the toxicity associated with pesticides and aim to minimize the presence of harmful residues. Toxic residues pose risks to food safety and consumer health, which can ultimately affect the marketing and sales of their crops, leading to substantial economic losses. As a result, farmers prefer safer pesticide options that are either non-toxic or have zero residues.
Farms typically employ skilled technical workers who possess extensive knowledge and experience in managing red spider mite infestations. Therefore, they prefer pesticides that target specific pests to facilitate precise application. Moreover, farms often rely on beneficial insects, such as bees, for pollination, which is crucial for crop maturation. To protect these beneficial insects, it is essential to use pesticides that specifically target spider mites.
GreatBay-SCIE has identified the Forestry Bureau, an authoritative government department, as a potential customer for Dienamite due to the significant damage inflicted by red spider mites on the appearance and functionality of plantations along urban streets. During meetings with technicians from the Forestry Bureau, it became evident that they are facing considerable challenges, as spider mite infestations in areas such as Shenzhen occur frequently and persistently. In light of this, GreatBay-SCIE is committed to gaining a clearer understanding of this potential customer's specific needs and requirements.
As a governmental body, the Forestry Bureau pays more attention to the importance of environmental sustainability. The impact of pesticides on air quality, biodiversity, and human health is a significant consideration, particularly given that these substances are directly applied in open environments and can severely affect local ecosystems with even subtle changes.
The plantations under the Forestry Bureau's management primarily serve ornamental and shade-providing functions in urban areas frequented by pedestrians. Given these functions and usage scenarios, it is imperative that any pesticide employed in these settings be both odorless and colorless.
The Forestry Bureau is responsible for managing 1,000 to 2,000 square meters of plantations and implement a fixed spraying routine. The substantial usage of pesticides, combined with the professional knowledge of the Bureau's technicians, has created a demand for highly efficient pesticides. Such products are essential for reducing the frequency of spraying required to eliminate pests, thereby decreasing the labor costs associated with pest management.
GreatBay-SCIE has identified plant caring companies, which provide services for maintaining the appearance of plants in hotels and offices, as an important customer segment due to their inevitable interaction with red spider mites. In one of the interviews conducted, a professional in the company mentioned losing 8,000 yuan to replace a Plumeria Rubra that was destroyed by a spider mite infestation. Given the multiple challenges these companies face from spider mites, GreatBay-SCIE has analyzed their fundamental needs and relevant considerations.
The plant care companies are unable to visit the plantations frequently; however, they must ensure the survival and aesthetic appeal of these plantations amidst the rapidly developing spider mite infestation. If they fail to do so, they may need to replace the affected plantations, which would reduce their profits. Therefore, they require a pesticide that possesses a long-lasting killing effect. This effect can be achieved by simultaneously eradicating both the eggs and mature spider mites, thereby eliminating all spider mites within a short period. Utilizing a pesticide with a long-lasting effect could enhance the company's credibility and reputation while also preventing financial losses associated with compensation claims.
It is important to note that the primary working environments for plant care companies are often offices and hotels, which accommodate a large number of people. Therefore, the safety of pesticides must be carefully considered, as clients may accidentally come into contact with or absorb toxic substances. Furthermore, in settings such as offices, workers may be present in the same environment as pesticide for over eight hours. Thus, safety is a critical factor that must be thoroughly addressed.
Plant caring companies have the possibility to operate in closed environments with limited ventilation, such as offices in skyscrapers. The lack of cross-ventilation in these spaces necessitates a higher demand for odorless pesticides, as any irritating odors may be trapped in the room for an extended period. By acquiring a scentless pesticide, the company could gain acclaim and establish long-term cooperative agreements with clients.
It is essential to analyze the aspects of customer needs that the existing pesticides have not sufficiently addressed. By identifying these unmet needs in the market, Greatthe below analysis focusBay-SCIE can uncover significant opportunities that urgently need to be filled. Therefore, GreatBay-SCIE conducted deep researches and various interviews on three representative chemical components and two biological components in the red spider mite pesticide market.
The below analysis focuses on the factors above the table, including the insight of target customers on those factor, regarding their reason behind it. Therefore, GreatBay-SCIE further analyse the function and features of Dienamite, showing how it successfully meet their expectations.
Potential customers of Dienamite have reported that the common biological pesticides they purchased are of low effectiveness and fail to adequately address the issues caused by spider mites, necessitating frequent applications.
However, Dienamite has been proven effective, as the experimental report indicates that the spider venom peptide can eliminate over 98.25% of spider mites within 24 hours and achieve 100% elimination within 48 hours.
Several targeted customers have reported experiencing dizziness and discomfort after using chemical pesticides. Additionally, farmers have expressed concerns regarding the potential for toxic chemical residues to remain on commercial crops, such as food products, which may further lead to a larger threat to human safety.
However, Dienamite is safe, as all its components are specifically targeted at spider mites and do not adversely affect mammals.
Dienamite's potential customers, particularly farmers, have expressed concerns that the resistance-prone nature of most existing chemical pesticides has compelled them to use higher doses or more toxic alternatives. Furthermore, distributors have noted that common pesticides remain effective for only two years due to the rapid development of spider mites.
However, Dienamite's use of repellents combined with eliminating agents reduces the chance of resistance development and does not trigger cross-resistance due to the different molecular targets compared to existing acaricides.
Many pesticides tend to kill non-target insects, thereby posing threats to biodiversity and disrupting ecosystem balance. This situation severely affects potential customers, such as farmers and forestry agencies, as non-target insects often play critical roles in ecosystems, including pollination and food web dynamics.
However, Dienamite targets spider mites specifically and will not affect or harm non-target insects or animals.
Over half of the potential customers, including personal flower growers, indicated that they could not tolerate the irritating scents associated with these products. Their overall experience with these pesticides is significantly diminished, and prolonged exposure to irritating odors can lead to respiratory issues, headaches and allergic reactions in sensitive individuals.
However, Dienamite's components do not possess an irritating odor; most are odorless, while zingiberene has a subtle scent of ginger.
Most existing pesticides are non-biodegradable, likely to accumulate in the environment, leading to soil and water contamination. The professor from the minister of ecology and environment supported that the accumulation of pesticide will largely undermine agricultural sustainability and disrupt ecosystems.
Dienamite is sustainable, as its components are biodegradable and will not negatively impact the land.
The existing pesticides are generally affordable for major customers. Distributors have indicated that the prices of pesticides range from low to high, depending on their functionality and effectiveness. Furthermore, most potential customers expressed satisfaction with the prevailing market prices.
Dienamite is capable of maintaining a pricing structure similar to that of biological pesticides initially, with the potential to decrease its price to align with that of chemical pesticides over time.
GreatBay-SCIE's research has revealed significant shortcomings in the existing pesticide market. The majority of chemical pesticides fail to meet customers' critical requirements for safety, specificity in targeting pests, and sustainability. Conversely, many biological pesticides suffer from ineffectiveness. Most significantly, none of these existing pesticides maintain a high degree of resistance to pest adaptation. This gap in the market presents an opportunity for a superior solution that can fulfill these unmet needs. Dienamite emerges as an optimal solution, effectively addressing these requirements through the use of components that are safe, sustainable, and efficacious.
With the aim of planning for Dienamite success, a thorough investigation in market and growth opportunities is crucial. Thus, key concepts of market evaluation is addressed by analyzing the Serviceable Obtainable Market (SOM), Serviceable Available Market (SAM), and Total Addressable Market (TAM) of acaricides.
As our human practice depicted local urge for a renewed acaricide, our predominant goal here is to validate the market existence of acaricides in a macroscopic aspect thus to confirm Dienamite's potential profitability. GreatBay-SCIE analyzed the following to achieve a clear outline of our market.
This is the portion of the market GreatBay-SCIE can realistically capture in the short term. GreatBay-SCIE characterized this as acaricide market need in the South China region. Our focus was on verifying local spider mite destruction, including appeals from potential customers that GreatBay-SCIE have acknowledged. For instance, based on accounts of the Forest Bureau of Shenzhen, spider mite destruction is pervasive among Shenzhen greenways. Therefore, already setting a large customer segment with urgent need.
GreatBay-SCIE characterized this stage as an elevation to national scale. Once SOM is thoroughly addressed, this is the subsequent goal for market upscaling. By implementing our topographic map initiated from human practice activities, GreatBay-SCIE could overcome the technical and geographical difficulties in expanding our market to the whole of China. Particularly, acaricide market size in China has always been high. In 2024, the market size of acaricides in China reach 83.36 billion US dollars with an estimated compound annual growth rate of 5.6% during the forecast period.[9]
Ultimately, an ideal result would be to successfully establish our product on the scale of global market. The estimated global market size of acaricides 2024 is 369.34 billion US dollars, and it is expected to reach 471.38 billion US dollars by 2029, with a compound annual growth rate of 5% during the forecast period (2024-2029). [10]
While acknowledging significant local destruction evoked by the presence of spider mites, the large market size of acaricides on a global scale was also elucidated with high global composite growth. As acaricide demands in both regional and international aspect are high, small scope acaricide enterprise has a high potential to expand to a nationwide scale, thus ultimately upscaling to international level. This led to us identifying a phenomenal market potential for Dienamite.
It is crucial for GreatBay-SCIE to identify potential competitors and closely monitor their market dynamics, product innovations, and marketing strategies, enabling Dienamite to promptly adjust its competitive strategies.
A direct competitor of Dienamite is defined as a company that offers pesticides specifically targeting mites. These competitors compete with Dienamite for the same customer base and market share. In the table below, GreatBay-SCIE has listed three classical acaricides in the blue cells.
To effectively distinguish Dienamite from direct competitors, GreatBay-SCIE should emphasize its unique attributes and strengths, which primarily encompass safety, sustainability, and targeting specificity. This can be accomplished through impactful advertising campaigns and the acquisition of authorized certifications.
The indirect competitors of Dienamite are pesticides that provide functions to eliminate a group of pests, including red spider mites. These companies may attract the attention of potential customers, thereby indirectly impacting Dienamite's market share. GreatBay-SCIE has listed three representatives of the indirect competitors in the orange box.
It is common for customers facing issues with spider mites to choose pesticides from large brands, even if these products do not fully resolve their problems. To attract this type of customer, Dienamite should establish a robust brand identity that enhances credibility and fosters purchase preference among consumers. This brand identity can be strengthened through strategic partnerships with reputable experts and collaborations with well-known enterprises, such as Vestaron.
Future competitors are potential businesses that may compete with Dienamite in the future. As awareness of food safety rises and the population grows, more innovative and efficient pesticides that focus on safety and targeting specificity could emerge to compete with Dienamite for this expanding market.
To maintain Dienamite's market position in the future, GreatBay-SCIE should actively explore new products while enhancing existing offerings. Achieving these objectives requires a robust connection with customers to effectively design products that not only provide comfort but also address their specific needs.
To enhance the understanding of the internal and external factors that may influence Dienamite's position in the market, GreatBay-SCIE has delineated the potential strengths, weaknesses, opportunities, and threats in the SWOT diagram presented below.
To increase the likelihood of establishing a successful enterprise, GreatBay-SCIE has developed several strategies to address the weaknesses of Dienamite and mitigate potential threats. Recently, GreatBay-SCIE have actively seek for solution. For the strategies underlined, click to see our activity that help to solve it!
| Weaknesses and threats | Strategies |
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Need of technical method for manufacturing facilities |
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Possible lower efficiency in hot weather conditions |
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Lack of wide-spread usage range |
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3 different products may cause confusion for customers |
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Reluctance to accept biosynthetic pesticides |
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Customers prefer established brands and existing pesticides |
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Rising competitions |
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To further elucidate the inherent external factors that may significantly influence Dienamite, GreatBay-SCIE has delineated a PESTEL diagram analyzing the political, economic, social, technological, environmental, and legal dimensions.
Supportive regulations: Stricter national and international regulations on harmful pesticides are being implemented, such as the EU's Green Deal, which aims to cut chemical pesticide use by 50% by 2030. This supports our product's environmental benefits and sustainable solutions, backed by government initiatives.[11]
Government Incentives: Governments are providing subsidies for sustainable agriculture. Programs like the USDA's Environmental Quality Incentives Program support farmers transitioning to eco-friendly products[12], which support our revenue stream.
Growing Market for Biopesticides: The global biopesticides market is projected to grow significantly due to rising demand for safer agricultural practices (see market analysis), creating economic opportunities for our product's development.
Export Opportunities: With a growing global market for biopesticides, there are significant export opportunities, allowing for potential revenue growth beyond domestic sales.
Consumer Demand for Safety and Organic Practices: Growing awareness of pesticide residues and the trend toward organic farming drive demand for products that produce no residues and meet organic certification, boosting market appeal.
Community Engagement in Sustainable Practices: Increasing community initiatives for sustainability enhance support for biopesticides, as consumers favor companies that show ecological responsibility, aligning perfectly with our product's benefits.
Rapidly Developing Industrial Biotechnology: Advances and fast development in biotechnology can enhance the production efficiency and effectiveness of Dienamite's active ingredients, supporting our future development.
Support the development of sprinkler device: Rapid technological advancements in hardware have enhanced our sprinkler devices, enabling greater versatility and better adaptation to various landscapes, expanding Dienamite's user base.
Regulatory Emphasis on Eco-Friendliness: Environmental policies such as the EU Farm to Fork Strategy[11], which aims to make food systems fair, healthy, and environmentally-friendly, favor the minimal environmental impact of our product.
Preservation of Biodiversity: The Convention on Biological Diversity (CBD)[12] emphasizes the importance of conserving biodiversity and promotes sustainable practices. Dienamite contributesDienamite is registered by minimizing harm to non-target species and ecosystems, maintaining healthy agricultural landscapes
Patent Laws: Securing patents for Dienamite's unique formulation protects intellectual property and provides a competitive edge, enhancing market positioning and attracting investors by demonstrating innovation.
Licensing Requirements: Navigating licensing and regulatory requirements ensures compliance and market entry, gaining consumer trust and expanding access, which boosts our sales potential and brand reputation.
When it comes to the future development plan of our product, GreatBay-SCIE interview with Professor Gleen King and Mr. Jiang to learn experiences on establishing and developing a successful entrepreneur. (click for detailed information we get from interview) Base on those information and understanding, GreatBay-SCIE has given considerable thought to Dienamite's development plans. Below is the overall timeline for Dienamite's future progress.
Below is a milestone graph outlining the critical activities for Dienamite's Serviceable Obtainable Market (SOM), Serviceable Available Market (SAM), and Total Addressable Market (TAM). These key activities signify the steps that Dienamite must undertake over time to successfully launch the business, including the analysis of main activities and potential partners that GreatBay-SCIE can work with.
In this phase, GreatBay-SCIE designed Dienamite and produced it in the laboratory. The functionality of Dienamite was initially demonstrated.
iGEM
Our product development journey commenced with the iGEM (International Genetically Engineered Machine) project. Through this initiative, GreatBay-SCIE successfully produced the intended products Spider and Mite venom peptides, Zingiberene and Harpin protein in a laboratory setting and conducted functionality evaluations using Female T. Urticae as the test subject.
Link Spider Technology
Link Spider Technology is a company focusing on the development of synthetic biology. They provide laboratory space and equipment to assist in the development of Dienamite during its laboratory stage. Moreover, they offer valuable suggestions and instructions throughout the process.
In this phase, GreatBay-SCIE is laying the groundwork for the establishment of our company and product.
Pesticide registration
Pesticide registration is a government-issued approval document that permits the production and sale of pesticides. To obtain this certification, it is essential to conduct thorough evaluations of pesticide's quality and safety. Additionally, to independently produce and market the product, GreatBay-SCIE will require both a Pesticide Production License and a Pesticide Business License.
Company establishment
Establishing a company is critical for Dienamite's successful entry into the market. To register as a legal entity, Dienamite must clearly define its business operations and submit a comprehensive list of shareholders to the relevant regulatory authorities.
A clear company structure supports long-term growth by fostering specialization, enabling consistent improvement and adaptability. It also enhances scalability, allowing new roles to be integrated smoothly as the company expands. This stability ensures sustainable development, providing a solid foundation to achieve long-term business goals effectively.
Once Dienamite is recognized as a commercial product, a transition from laboratory production to industrial production is expected.
Development in Technology
GreatBay-SCIE will investigate methods for the large-scale production of products in a streamlined manner. This technological transition may encompass advanced gene design, modifications to model organisms to enhance production efficiency, and innovative designs for production hardware.
Experts
Engaging in discussions with esteemed experts such as Professor Elaine Fitches or Glenn King could provide GreatBay-SCIE with invaluable professional advice and methodologies that will enhance the accuracy and effectiveness of the transition.
Link Spider Technology
Link Spider Technology possesses extensive experience in the process of transitioning from laboratory environments to industrial facilities; therefore, collaboration with them could yield significant insights, practical recommendations, and guidance.
In response to the limited market demand in SOM, GreatBay-SCIE's primary objectives are profitability and business continuity. At this stage, GreatBay-SCIE intends to introduce pesticide to specific crop segments.
Production
GreatBay-SCIE will collaborate with factories to produce a limited quantity of products.
Sales
GreatBay-SCIE will establish partnerships with local distributors within a specific niche to market Dienamite, emphasizing its distinctive attributes and addressing unmet needs.
Customer Engagement
GreatBay-SCIE will gather feedback from customers and make improvements to Dienamite accordingly, thereby providing an advanced pesticide that aligns closely with their requirements.
Original Equipment Manufacturer
Collaborating with an OEM can enable us to outsource small-scale production when faced with capital constraints. GreatBay-SCIE has the flexibility to either partner with an OEM that possesses an existing manufacturing facility or lease a suitable production site for the OEM team to operate.
Guangzhou Guanghui Agricultural Materials Co.,Ltd
This organization specializes in distributing various pesticides to flower breeding bases in Guangdong. Collaborating with this distributor will enhance our sales efficiency, expand our potential customer base, and optimize our human resource allocation.
Technology
Conduct in-depth analyses of the synthetic biological production process and optimize it for small-scale operations.
Capital
Allocate resources judiciously to address limitations in financing and materials.
Government policies: Leverage available support mechanisms designed for newly established enterprises.
As GreatBay-SCIE's product attains recognition among customers within its niche, Dienamite will be introduced to a wider market, such as the national level. This expansion will necessitate the establishment of a dedicated manufacturing facility for Dienamite.
Establish Factories
GreatBay-SCIE will establish its own factories and workshops to facilitate the large-scale production of Dienamite. Furthermore, quality and quantity will be ensured through the implementation of advanced technologies, including automated systems, artificial intelligence, and expert systems. Additionally, stringent and transparent factory regulations will be instituted.
1. Capital
Funding will be essential to enable expansion initiatives.
2. Facilities
Essential production equipment and the establishment of manufacturing facilities will be required.
3. Human Resources
There will be a need for effective management of product inventory and acquisition, along with the recruitment and training of personnel.
As market demand expands to SAM, GreatBay-SCIE anticipates a need for increased production capacity.
1. Production
A large-scale production initiative will be undertaken in response to market demands. This production will be facilitated by GreatBay-SCIE's own factory.
2. Sales
GreatBay-SCIE will offer both direct online sales and collaborate with various distributors throughout the country.
3. Customer Engagement
GreatBay-SCIE will actively solicit feedback from customers and redesign Dienamite accordingly, with the objective of creating the most suitable version for its primary clientele.
1. Distributors
Accessing more local distributors across the nation and forming partnerships could strengthen Dienamite's sales market. Moreover, the presence of distributors could decrease Dienamite's selling costs by reducing the human resources required in the sales department.
2. E-commercial Platform
GreatBay-SCIE will open online stores on different e-commercial platforms such as Taobao, T-mall, JD, 1688, PDD... Customers could access our service and products directly.
1. Technology
Develop mature production methods that optimize cost-efficiency.
2. human resources
Assemble a multidisciplinary team comprising engineering professionals to oversee machinery operations and an industrial team to select equipment and design control parameters.
3. Capital
Ensure that product pricing remains competitive and accessible to our target customer base.
4. government policies
Leverage available support mechanisms that align with our environmentally responsible initiatives.
To further achieve the TAM and maintain a competitive edge over time, global expansions and the development of innovative new products are required.
1. Product Development
GreatBay-SCIE will conduct extensive research and development in the laboratory to create innovative products that address unmet needs, such as alternative insecticides and herbicides. Additionally, the company will rigorously test product prototypes to ensure their quality, safety, and efficacy prior to market launch.
2. International Market Entry
GreatBay-SCIE will identify pain points and growth opportunities in prospective overseas markets while establishing relationships with reliable agents and distributors in these target regions. This strategic approach will enable the company to effectively navigate new markets and enhance its global presence.
Moreover, each country has distinct registration policies governing the sale of pesticides. Consequently, in order to market our products internationally, it is imperative that Dienamite are registered in compliance with local regulations.
1. Experts in future targeted fields
Experts in specific fields, such as insecticides, may offer invaluable insights and guidance to GreatBay-SCIE in its pursuit of developing more efficient and sustainable products.
The registration process can be protracted and financially burdensome, particularly in developed nations. Therefore, GreatBay-SCIE may opt to authorize a local company to facilitate the sale of Dienamite. This partnership would enable the local entity to manage the registration process independently, thereby streamlining our market entry efforts.
In this phase, GreatBay-SCIE is actively seeking capital to support our future initiatives. According to the characteristic of each stage, GreatBay-SCIE outline a realistic and achievable revenue stream, analysing the investment and earnings in each of those stages, including the source of investment and the usage of investing funds.
The following analysis gives further details on investment and earnings respectively, including the source of investment, the investment activities planning to launch, and the source of earnings.
Source of Investment:
- The investment can be sourced from venture capital, private investors, or company reserves. Since the invention stage involves significant risk, attracting investors with a clear long-term vision and innovative prospects is key.
Investment Activities:
- R&D efforts, including salaries for research.
- Purchasing lab equipment necessary for experiment
- Obtaining patents and conducting initial testing of the product.
Source of Investment:
- This investment may be funded through private equity, venture capital, or debt financing. Alternatively, strategic partnerships with industry leaders can be considered for support during the establishment phase.
Investment Activities:
- Building or leasing manufacturing facilities.
- Acquiring necessary machinery to set up production.
- Hiring skilled workers and operational management to lay down the foundational infrastructure.
- Establishing a supply chain and initial operational setup.
Source of Investment:
- Funding for the scale-up process can come from existing venture capital investors, strategic partnerships, or through government grants specifically targeting scale-up activities. Alternatively, retained earnings from earlier R&D or pilot production phases could be reinvested to support this transition.
Investment Activities:
- Conducting extensive testing to ensure that processes developed in the lab can be successfully replicated at a larger scale, maintaining quality and efficiency.
- Optimizing logistics and raw material supply chains to support larger production volumes.
- Upgrading machinery and equipment to handle industrial-scale production and ensuring compliance with regulatory standards.
- Training production staff to manage scaled-up operations effectively, which involves adapting to new equipment, procedures, and quality control standards.
Source of Investment:
- Funding for industrial scaling can be secured from retained earnings generated during the small-scale production and selling phase, or through debt financing.
Investment Activities:
- Enhancing existing machinery or adding new equipment to scale up throughput and improve process efficiency, reducing cost and ensure quality.
- Optimizing logistics and supply chain management, ensuring the flow of raw materials is steady and scalable, and managing larger distribution requirements.
- Expanding workforce training programs to handle larger-scale operations and support increased production, including safety training for the new equipment.
Source of Investment:
- Funding can come from a combination of retained earnings, additional debt financing, or issuing new shares in the company.
Investment Activities:
- Expanding existing facilities and upgrading technology for enhanced efficiency and production capabilities.
- Entering new geographical markets, which requires substantial marketing and sales efforts.
- Strengthening the supply chain to support larger-scale distribution globally.
Where the Earnings Are Gained:
- Early Market Sales: The product is introduced to early adopters, which are the initial potential customer of Dienamite, generating revenue from limited-scale sales.
Where the Earnings Are Gained:
- Broader Market Reach: Earnings are generated from increased sales due to larger production capacity, which enables the product to reach a much wider customer base.
- Economies of Scale: As production is scaled up, unit costs are reduced, which allows for either better pricing strategies or increased profit margins. The resulting revenue helps Dienamite move toward profitability.
Where the Earnings Are Gained:
- National or International Market Entry: Th expanded market presence allows Dienamite to access to a larger customer pool.
- Product Line Expansion: Additional earnings could also come from diversifying product offerings or introducing new versions, thus appealing to different segments of the market and maximizing profitability.
Packaging, as a curcial part in the production of Dienamite and distributing to customers, GreatBay-SCIE has to cope with a wide range of resources and design a detailed production line for our package. As sustainability emerges as an increasingly significant topic, prominent brands such as Coca-Cola are actively promoting environmentally friendly practices. GreatBay-SCIE regards this factor as a key selling point for Dienamite: the packaging of Dienamite is composed of 50% polyethylene!
GreatBay-SCIE has initiated a partnership with ECO RECYCLING to customize packaging made from 50% recycled polyethylene (PE) for a sustainable future. If you are interested in this, you can visit sustainability page.
GreatBay-SCIE aims to promote Dienamite through a multi-faceted approach, including experimenting in key regions, demonstrating efficacy to farmers, and strategic advertising to raise awareness. Advertisement is crucial to make our product known, using posters and leveraging influencers to reach end users such as individual flower lover effectively. Additionally, cooperation with government agricultural departments will help boost credibility and align with agricultural policies. These efforts are designed to establish a strong reputation for Dienamite and build trust among farmers, ensuring successful adoption and expanding its market reach. What's more, through out the interview with distributer, GreatBay-SCIE have a clearer picture of the recent advertising methods and make sure the ways we use align with recent advertising trend.
GreatBay-SCIE will select a representative area from each of the north, west, south, east, and central regions to demonstrate our pesticide's ability to eliminate spider mites in different climates. GreatBay-SCIE will invite 50 to 100 farmers from nearby areas to attend each demonstration. This strategy aims to build trust in our product and establish sales channels within the farming community. Additionally, GreatBay-SCIE will live stream these demonstrations online to reach a wider audience of potential users.
By placing posters of our products in areas frequented by farmers, GreatBay-SCIE can enhance brand recognition and provide a wider choice for farmers Furthermore, engaging celebrities and influencers to promote our product can significantly boost our credibility and attract additional customers. This revised version maintains a formal tone while clearly outlining the key components of your packaging and advertising strategies for Dienamite.
During the interview with small scale farmer owner, GreatBay-SCIE have learned that they will be more willing to use products that are recommended by governments or official organizations. Thus, GreatBay-SCIE will seek cooperation with government agricultural departments, which can recommend our pesticide products to farmers. Such partnerships will align with government policies and enhance our credibility within the agricultural community.
In order to achieve business success, it is essential to identify all potential risks that Dienamite may encounter throughout its milestones and to develop appropriate solutions. Consequently, GreatBay-SCIE has created a risk analysis table that outlines several potential risks, as detailed in the table below.
Given insights from our target customers regarding the declining opportunities for starting businesses in China, it is essential to devise a proper exit strategy that minimizes potential losses.
- Merging with a large pesticide production company that specializes in chemical applications could provide us with vital financial resources to develop our production lines. Additionally, leveraging their established brand image and reputation may enhance the acceptance of our synthetic biological products among consumers. In this procedure, GreatBay-SCIE need the help of mergers and acquisition advisory, which can facilitate connections with publicly listed or multinational companies to explore potential collaborations or mergers.
- Licensing involves entering into a business agreement that allows for the shared use of trademarks, technology, or other intellectual property assets. If GreatBay-SCIE secure licensing agreements with a prominent biotechnology company focused on developing plant-based pesticides, GreatBay-SCIE can utilize their specialized expertise, capital resources, brand equity, and production capabilities to accelerate the development of our products on a larger scale.
Behind Dienamite is a group of outstanding students from Shenzhen college of International education, a reputable and vibrant international high school. The members excel in various field, ranging from hard sciences, human sciences to liberal art, ensuring clashes and collaboration of diverse knowledge and perspectives. In addition, remarkable research and experimental skills acquired in the inspiring campus enable our ability to dive into the continuous development of project. With thorough comprehension of unsustainability that corrode current society, GreatBay-SCIE share the ultimate goal of revolutionising the way of production -starting from launching a more eco-friendly pesticide.
The potentials of members are further tapped with assistance from experienced supervisors which provide deeper insight into the subject, bringing our goals and dreams to the ground. Furthermore, our achievements are attributed to our close relationship with Links technology to a great extent. The enterprise devoted to synthetic biology allows us to thrive and grow in well-equipped laboratory, validating our constructive ideas.
On top of the above, GreatBay-SCIE hugely benefited from support of professor Glenn king, a co-founder of company vestaron which, incidentally, also utilize spider venom peptide as pesticide.Through interviews with Dc,glenn, profound knowledge regarding set-up of entrepreneur and detailed technical guidance for experimental protocol are provided, not only facilitating progress of allowing the progress of practical work but also lubricating the implementation of our business schedule.
GreatBay-SCIE defines capabilities as the potential productivity that determines how much output can be produced with a given set of inputs. By considering costs and profitability, GreatBay-SCIE visualizes the scalability of its product, thereby ensuring a more applicable and sustainable business plan.
The table below presents the estimated cost of producing 3,000,000 bottles of Dienamite per month during large-scale production in the SAM. This estimate encompasses the total rent for the factory located in YunFu, Guangdong, along with expenses for machinery, facilities, labor, and raw materials.
Upon conducting approximate calculations, GreatBay-SCIE determined that the cost of each 300ml bottle of Dienamite is 9.6 CNY. In contrast, the market prices for conventional pesticides typically range from 90 to 120 CNY. In alignment with market trends, the final price of Dienamite has been adjusted to 99 CNY per 300ml, resulting in a profit margin of 90.3%.
The high profitability of Dienamite ensures the survival and development of the company, which predicts continuous long-term growth in the market. As a substantial market share is secured, GreatBay-SCIE can expect our sustainable and eco-friendly product to replace problematic chemical pesticides, leading to a healthier lifestyle globally and achieving our goal of being responsible stewards of the environment.
GreatBay-SCIE planned for the sustainable development of Dienamite. To achieve this, maintaining long-term relationships with our major stakeholders is a significant factor to consider: How can GreatBay-SCIE ensure continuous collaboration? What can GreatBay-SCIE expect from the stakeholders? What may they require from us?
GreatBay-SCIE classified the stakeholders into four categories to better address an approachable plan for maintaining a stable relationship.
Base on the analysis above about the user, our product succesfully meet their demand, attracting them initially to purchase our product initially is not hard. However, maintaining a consistent and long term relationship with them is crucial and require certain strategies. To begin with, GreatBay-SCIE plan to utilize the internet to promote sales, as individual flower-lover is our first potential customer, which provide a convenient platform for purchasing. In addition, GreatBay-SCIE will maintain high quality to promote buck-buying, including the upgrade of packaging, offering small volume pesticides, which provide convenience for users. For promoting strategies, GreatBay-SCIE planned to implement discount, attracting purchase and returning customers.
Aiming for commercialization, GreatBay-SCIE is expected to undergo an expansion in production scale, from laboratory experiment to mass production in factories. However, such processes appear fresh to us as high school students: for example, GreatBay-SCIE lack skills for selection of appropriate machineries and construction of production line. Thus, guidance by experienced experts and professors is proven necessary while GreatBay-SCIE may help them to advertise their entrepreneur and boost their reputation.
What follows hardware is human power. Similarly, managerial skills of GreatBay-SCIE are insufficient to control over a company. That’s why GreatBay-SCIE may also seek help from other businesses leaders or CEOs, in order to enjoy the prevalence of economies of scale and avoid inefficiency and failure. In order to get deeper on those information, GreatBay-SCIE interview with Mr.Jiang and Professor Gleen King, discussing the experience of setting up a company and certain risk that GreatBay-SCIE might face during the process.
Click here to see details about the interview
GreatBay-SCIE defines partners as agents that potentially achieve mutual benefit from the collaborations,which include multiple institutions in different sectors.
1. Pesticide Distributor:
Duing the interview with a pesticide distributer located in Guangzhou, GreatBay-SCIE have a clearer idea of their insight. They presumably emphasize on the price of product, the efficacy, and the speed of developing resistence, which therefore reflecting on the sales of product. Dienamite succesfully meet all their needs, attaining a stable customer group, guaranteeing the profitability for distributors. Consequently, distributors are often willing to sign long-term contracts and cooperate with our company.
2. Original equipment manufacturer
At early stage of factory set-up, GreatBay-SCIE may rely on other well-equipped producers to conduct mass production. To secure a standard and safe manufacturing process, GreatBay-SCIE will check the reliability of facilities via a field study in the factory in the first place. As soon as GreatBay-SCIE make an agreement on the business, a contract can be reached to guarantee the interests of both sides. Afterwards, GreatBay-SCIE may require a monthly inspection on random sample of products for quality check and safety promotion.
In the vast market of pesticides,numerous homogeneous goods can be spotted.To remain Dienamite's competitiveness and remain a high competitive edge in the market, GreatBay-SCIE have registered patent for mite venom peptide.
Moreover, GreatBay-SCIE needs to develop more innovative products that align with current trends and address unmet needs from various perspectives, involve exploring additional mite and spider mite peptides or developing solutions for other pests.
Through GreatBay-SCIE's journey of entrepreneurship clarification and human practices, GreatBay-SCIE has identified concerning deficits in pesticide application. Therefore, GreatBay-SCIE is committed to establishing an enterprise not only for revenue but also to prospect its long-term impacts on the world, enhancing safety, ecological friendliness, and efficiency. The following analysis elucidates long-term impacts of Dienamite that may influence the overall welfare of individuals, the community, and the world.
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