There are three key differentiators to Marine PV Technologies’ strategy and approach that provide us critical competitive advantage over other companies in this space:
a) ‘starting with the customer’;
b) manufacturing efficiencies;
c) business and operational approach.
A) Customer: our entire development process was underpinned by user needs and requirements. B) Manufacturing: our unique product design leverages existing, ready-made modules. They are widely produced and therefore cheap. Their accuracy (+ 5 cm), power (up to 200W) and working time (up to 8 minutes) are enough to get iLifebuoy to reach the MOB. This gives us a competitive advantage both operationally (in quickly setting up and scaling pr oduction) and commercially (in maintaining a healthy bottom line).
C) Business: our team and company has a unique advantage over competitors in that we leverage the latest frameworks for customer-centric product development – ‘lean startup’ (Blank,S, 2013. Why the Lean Start-Up Changes Everything. Harvard Business Review, May). We use short agile development cycles of design, prototyping, customer testing, feedback and refinement to ensure both the design and functionality fully address our customer’s needs. Detailed next steps for commercialization are outlined in the Impact section.
The approach will fallow the Waterfall methodology. Our team’s experience in delivering research projects allows us to accurately plan (with the necessary buffers) the necessary stages, their consistency and resources for their implementation.