Periodic Reporting for period 1 - BacLEATHER (UPSCALE OF AN INNOVATIVE, PIONEER AND SUSTAINABLE BIOMATERIAL (BacLEATHER) FOR THE FOOTWEAR INDUSTRY)
Reporting period: 2019-02-01 to 2019-07-31
The global leather business is still mainly dependent on raising and slaughtering billions of animals. This, in the XXI century, is not only an inefficient and cruel process but it also creates a huge environmental impact. As the footwear industry is directly bound to the leather industry (about 65% of the world production of leather goes into footwear), the sustainability and environmental problems of leather manufacturing also affect the footwear industry.
Unfortunately, brands and shoe manufacturers do not have an ecological alternative to natural or synthetic leather. However, currently there is a clear trend towards the development of safer, toxic-free, sustainable, environmental-friendly, and more ethical footwear and leather goods.
The main objective of BacLEATHER project is to develop an eco-friendly like-leather material (BacLEATHER) based on a biotechnologycal approach (cultured leather) which require less time of manufacturing, no land or harmful chemicals, and much lower water and energy inputs. At high scale, cultured leather can provide a safe, sustainable and economical alternative to the traditional tanning industry involved in the footwear industry.
Therefore, the ultimate objective of this Phase 1 project was to analyse the feasibility of our business innovation project, with a major focus on its technical, operational/financial and commercial feasibility, for the successful commercialization of BacLEATHER, a sustainable, economic, and eco-friendly material leather-like, over the next years.
Unfortunately, brands and shoe manufacturers do not have an ecological alternative to natural or synthetic leather. However, currently there is a clear trend towards the development of safer, toxic-free, sustainable, environmental-friendly, and more ethical footwear and leather goods.
The main objective of BacLEATHER project is to develop an eco-friendly like-leather material (BacLEATHER) based on a biotechnologycal approach (cultured leather) which require less time of manufacturing, no land or harmful chemicals, and much lower water and energy inputs. At high scale, cultured leather can provide a safe, sustainable and economical alternative to the traditional tanning industry involved in the footwear industry.
Therefore, the ultimate objective of this Phase 1 project was to analyse the feasibility of our business innovation project, with a major focus on its technical, operational/financial and commercial feasibility, for the successful commercialization of BacLEATHER, a sustainable, economic, and eco-friendly material leather-like, over the next years.
TECHNICAL FEASIBILITY STUDY: During phase 1, we have defined a 2-year work plan and methodology, including a technological roadmap to scale the BacLEATHER production (semi-industrial) and to achieve full technological readiness.
COMMERCIAL FEASIBILITY STUDY: A detailed market analysis was performed, allowing us the validation of our market hypothesis and market opportunity. We have also defined the best go-to-market plan considering the features of our potential clients and stakeholders.
FINANCIAL FEASIBILITY STUDY: FS has also allowed us analyzing the funding requirements to bring BacLEATHER to the market, as well as to explore different funding sources (public funding, bank loans, private equity, etc.) to achieve our goals.
COMMERCIAL FEASIBILITY STUDY: A detailed market analysis was performed, allowing us the validation of our market hypothesis and market opportunity. We have also defined the best go-to-market plan considering the features of our potential clients and stakeholders.
FINANCIAL FEASIBILITY STUDY: FS has also allowed us analyzing the funding requirements to bring BacLEATHER to the market, as well as to explore different funding sources (public funding, bank loans, private equity, etc.) to achieve our goals.
"Our final goal is to be the first worldwide company that will produce ""on demand"" a biodegradable bio-leather adapted to the footwear manufacturing needs. Since BacLEATHER is made of biological and recyclable materials, toxic-free, and with reduced costs in water and energy consumption, it will not only bring important progress to the leather and footwear industry but also for the environment and for our health."