Technological Due Diligence for an innovative company in the agricultural world

Customer

Hortobot

Sito Web: www.hortobot.com

Demand

To evaluate the level of innovation and replicability of the technologies developed by the customer company on the market.
To identify competitors and evaluate the positioning of the company in relation to existing solutions.
To obtain technical documentation aimed at supporting the financing of the research activity during the investor research phases

Services

Technological Due Diligence

Solution

The technological due diligence activity aimed at defining the uniqueness of Hortobot’s solution in relation to the others already on the market, was structured in the following phases:

Detailed analysis of the technical aspects and operating principles of the technology developed by Hortobot
Identification of the main existing solutions with functional characteristics similar the Hortobot’s one
Definition of a specific comparison methodology for the company application allowing Hortobot to easily carry on future comparison with any emerging realities

The research was based on the use of specialized databases in the scientific, commercial and patent fields, including Scopus, Orbis Bureau Van Dijk or Derwent Innovation.

This information was completed and deepened by collecting unstructured information available online, in trade magazines, and from other useful sources to evaluate the competitive scenario of the sectors in which the company operates.

The analysis of the results was refined in several steps according to the customer needs.

Description

The Technological Due Diligence activity represents a valid tool for startups and innovative companies to measure the actual level of innovation of a solution.

Hortobot used this CRIT’s service to evaluate the potential novelty of its technology in relation to the ones already in the market. Overall aim was to better understanding its positioning on the market and to acquire a tool developed by an independent body to measure the level of innovation of its solution in front of financing institutions

The activity was structured in the following phases:

Analysis of Hortobot’s technological solution: through an initial comparison with the company and a first research phase in the technical-scientific literature, the main elements of the solution developed by the company were defined (both from a technical and commercial point of view,). In this way, the first parameters of comparison were also specified to outline the innovative potential of the company.
Identification of competitors: through the research and analysis of specialized databases, as well as public information (websites, specialized magazines, social media, etc.), 23 existing solutions were identified that can be classified as Hortobot’s competitors.
Definition of a comparison methodology and supplier benchmark: starting from the skills acquired, the main parameters for a meaningful comparison of the various solutions on the market were identified, in collaboration with Hortobot technicians. This made it possible to create a comparative analysis suitable for evaluating Hortobot’s positioning in the current market.

The methodology developed, as well as all the technical information collected and the suppliers identified, were then made available to Hortobot to allow the company to reuse the tools developed for future analyses.

The activity included several reporting meetings with the customer company; all the collected information has been made available to the customer in a format and with a structure defined on the specific needs and interests of the company.