| dc.description.abstract | Fornax Labs aims to promote ideation, creativity and innovation among the people
We provide TinkerLabs equipped with prototyping machines; aggregate associated equipment and services
Product Packages differ in target audience, production capability and flexibility
Targets are educational institutes, corporates, incubators, defence forces and research organisations
Need exists because innovation and creativity are increasingly being valued in the industry and academia; entrepreneurship and entrepreneurship being encouraged
Innovation Labs provide best infrastructure for a dreamer to transform his/her ideas into reality and realise their full potential
Surveyed students, teachers, Corporates and suppliers in Delhi NCR, Ahmedabad and Chennai. Suppliers in contact also from Taiwan, S. Korea and China
Major competition will be from workshop companies and equipment manufacturers
Aggregation gives us the unique advantage of benefiting from each competitors individual pros while cancelling their disadvantages
Stakeholder Engagement during the process of Lab establishment and support post-sales are our key USPs and form the basis of our marketing strategy
By being in touch with needs of each stakeholder we can provide them best suited product
Key revenue streams are lab establishment, training, consumables and prototyping/NPD
Key cost drivers are Goods and Equipment, Marketing, Knowledge Development and Human Resources
Turn profitable in 3 years and incur minor losses in first two years for building competitive advantage
Can pivot to operating a design house or a network of mobile innovation labs
High flexibility systems provide us with multiple possible uses and hence multiple possible pivots at each stage | en_US |
