Where did the project idea come from?
Innomaq21 is a highly innovative company that finds itself in a position of relative disadvantage due its small size and only few years of market presence. The Asian market is ripe with opportunities for our innovative products, and we needed an entry point from which progressively to penetrate other regions of this continent.
Why did you select that specific target country?
In the India market there are currently no manufacturers of metal powders especially designed for MAM, only traditional metal powder manufacturers that market to MAM. India does not manufacture MAM equipment yet, but having the right metal powder to work with can foster a national MAM industry.
The government plans for India to become a global leader in industrial manufacturing, as well as in corresponding R&D. A timely entrance in the Indian market will be extremely beneficial for our own competitiveness in a wider market context outside and inside Europe.
Who are your partners in the target country?
The selected subcontractors are key for helping us achieving our ambitious commercial goals in India. Both of them are Indian and their teams have in-depth experience within the metallurgic sector.
Our partners in India will provide comprehensive technical, market, and legal expertise to validate the viability of our product in India and create the conditions for its deployment. They are guiding us in the definition of marketing and commercial strategies and in everything related with our IPR and regulatory strategy in India.
What is your long term vision for your company working in your chosen partner country?
Our final goal with this VAP is to establish the optimial conditions (legal, commercial, intellectual, etc) to introduce our metal powder in India, with the long term aim of studying the convenience of opening a commercial and post-sales office in India that could serve as Asian headquarters.
What impact do you believe INNOWWIDE will have on your company?
An ideal outcome of the VAP would be to reach an agreement with one or several Indian partners for a further collaboration in the validation, homologation and certification of INNOPOWDER in India. Demonstrating the properties of our product in comparison to competitive products will earn us a reputation as providers of a superior product at competitive prices. Armed with the market and cultural understanding of the country, we could then fit our product to the unique needs of the Indian industry.
Can you offer any advice or guidance to others looking to apply for INNOWWIDE grants?
Like in any other project, it is advisable to define first and clearly the scope of the attainable target market for the new technology or product in order to establish an adequate planning and attainable goals. We think it is also advantageous if one can rely on some already known partners in the selected market to expand the business. With regard to the elaboration of the proposal, we recommend counting on the support of the INNOWWIDE team, as to our experience they quickly resolve any doubts that may arise.