Scaling the Solution: How do you intend to scale your activities over the next two years (e.g., reach new markets, diversify solutions, etc.)? What will make this possible?
There are several applications with this method. The functionality can be incorporated in other products of different sizes as well as for portable products. New markets are seen e.g. in countries with temperate climate, long and cold winters, possibly environmental consciousness within the society, and/or the necessity to go off or not being part of the grid.
For these new markets, regional partners can be included to reduce transportation and to support locally produced products.
For the next generation, the aim is to use the power of the sun to cool during warm periods. Rendering the conventional refrigerator completely redundant.
The award would be used for R&D, marketing & PR to raise awareness and seek strategic partners.
Financial Sustainability: What is your business model to ensure financial sustainability?
Since the natureCool fridge is to be built as a quality hand-made product, mass production is not an option. This allows organic growth. Also a B2C approach allows the company sustainable pricing, since large retail margins are not included, possibly chipping away at company profits.
Experience: Please provide examples of any previous entrepreneurial initiatives you have pioneered.
I am working on a Masters Degree in Sustainability & Quality Mngt, and am part of an entrepreneurship program aimed at supporting ideas with know-how. I have worked for a start-up, where I was able to contribute ideas, optimize existing and implement new processes of importance to the strategic development. After 4 years of work experience and 2 degrees later I am certain entrepreneurship is the best way to utilize my skills and acquire new ones.