Entrepreneurship | PuiChing-Macau

Company Setup

We propose the establishment of a fragrance technology company specialising in the enzymatic facilitation of essential oil extraction. The company will be incorporated as a private limited entity, with a dedicated team of experts in biotechnology, fragrance chemistry, and business development. The company will be headquartered in Macao, strategically located to leverage the city's thriving hospitality industry.

Cooperations

We will cooperate with hotels, such as Wynn, to establish a consistent and sustainable supply of floral waste for essential oil extraction. This cooperation will involve:

Agreements with hotels to collect their floral waste, ensuring a reliable and abundant source of raw material.
Providing the hotels with the extracted essential oils for use in their scent marketing strategies or self-branded cosmetic products.
Joint marketing efforts to highlight the hotels' commitment to sustainability and responsible waste management.
Exploring opportunities for co-branding and exclusive product lines featuring the hotels' branding and our enhanced essential oils.

Market Research

Our team visited Guangzhou Scishin Biotech Co., Ltd, a leader in natural plant extracts using Supercritical CO₂ Extraction technology. The staff demonstrated advanced extraction techniques, emphasizing their non-toxic, environmentally friendly outputs. They highlighted the importance of low-temperature methods to preserve plant integrity and avoid solvents or pesticides.

They also provided valuable insights for our project, particularly the need for environmental monitoring of recycled plant waste. The Chief Technology Director suggested adding antioxidant compounds to our essential oils, noting a market trend among urban women seeking anti-aging solutions.

After returning to AVANCO ENVIRONMENTAL TECHNOLOGY (MACAU), we received positive feedback and plans to integrate our essential oils into their products, like dish soap and hand wash. This cooperation aims to market eco-friendly products to hotels, enhancing our appeal in the cosmetics and aromatherapy industries.

Current Progress

We utilized Wynn's orange peel to produce soap and detergent. Currently, the soap is made using purchased essential oils, but we hope to use our own essential oils in the future. For the detergent, we employed a different method by soaking the orange peel in 95% alcohol, then directly mixing it with a foaming agent to create the detergent. We have applied a patent (category: invention; patent No: PCN2411357ZQ) for our project so that qe can use our designed eassential oil for detergent and soap production.

To generate revenue, the company will adopt a multi-faceted approach:

Sale of enhanced essential oils to fragrance companies, cosmetic brands, and other industries interested in utilizing high-quality and sustainable ingredients.
Development and sale of self-branded cosmetic products using the enhanced essential oils.
Cooperative partnerships with hotels and retailers to create exclusive product lines and fragrance experiences.
Customized solutions for businesses seeking sustainable scent marketing strategies.
Licensing agreements for the use of our enzymatic extraction technology in other industries.

Timeline

The proposed project will be carried out in several stages:

Phase 1: Research and Development

Conduct extensive research on enzymatic facilitation of essential oil extraction.
Optimize enzyme production and purification techniques.
Develop protocols for enzymatic extraction and esterification processes.
Perform pilot-scale trials to validate the efficiency and effectiveness of the proposed methods.

Phase 2: cooperation and Business Development

Establish cooperations with local hotels, such as Wynn, to secure a steady supply of floral waste for essential oil production.
Negotiate partnerships with fragrance companies and cosmetic brands interested in utilizing our enhanced essential oils.
Conduct market research to identify potential customers and target industries for our products.
Develop marketing and branding strategies to promote the sustainable and responsible aspects of our fragrance technology.

Phase 3: Scaling and Commercialization

Build a production facility with the necessary equipment for large-scale enzymatic extraction and esterification processes.
Implement quality control measures to ensure the consistency and purity of the extracted essential oils.
Establish distribution channels and partnerships with retailers and distributors to bring our products to market.
Launch a line of self-branded cosmetic products utilizing the enhanced essential oils.
Continuously improve and innovate our processes through ongoing research and development efforts.

SWOT analysis

In order to further improve our project, we have conducted SWOT analysis with the assitance from supervisiors.

Strengths: Our company is at the forefront of change, blending innovative technology with a strategic location that maximizes both operational efficiency and market reach. By positioning ourselves in a hub that connects key markets, we not only ensure seamless access to resources and talent but also drive sustainable growth. Our commitment to sustainability is integrated into every aspect of our operations, from energy-efficient infrastructure to eco-friendly practices, ensuring that we contribute positively to both the environment and the communities we serve.
Weaknesses: While our groundbreaking product offers significant long-term benefits, it comes with a high initial cost that may pose a challenge for early adoption. Additionally, the uncertain market acceptance adds another layer of complexity, as consumer behavior and preferences can be unpredictable in this emerging sector. Despite these hurdles, we are confident that the value and innovation our product brings will ultimately drive demand, but we recognize the need for strategic planning and targeted marketing to overcome these initial barriers.
Opportunities: As the global demand for sustainable products continues to surge, our company is uniquely positioned to tap into this expanding market. With consumers increasingly prioritizing eco-friendly choices, the potential for growth on a global scale is immense. Our commitment to sustainability not only aligns with these evolving consumer trends but also opens up new opportunities in international markets. By leveraging our expertise and innovative product offerings, we are poised to capitalize on this global shift towards sustainability, driving both growth and positive environmental impact.
Threats: Navigating the current business landscape requires us to address significant regulatory challenges and ongoing supply chain disruptions. As regulations become more stringent and complex, ensuring compliance demands careful planning and adaptability. At the same time, global supply chain disruptions continue to impact our ability to maintain consistent production and delivery timelines. These challenges require us to be agile and proactive, implementing robust strategies to mitigate risks while maintaining our commitment to quality and customer satisfaction.

Our proposed project aims to revolutionize essential oil production by leveraging enzymatic facilitation techniques, thereby addressing the limitations of traditional extraction methods and reducing floral waste in the hospitality industry. Through strategic cooperations, sustainable practices, and the development of high-quality products, we envision establishing a successful fragrance technology company that contributes to a more responsible and sustainable fragrance industry.