Team:Sydney Australia/BusinessModel
Overview & Motivation
Our project has a very viable "real world application", and thus we created a Business Model and plan to the transition from laboratory experiment to a feasible product. We researched our target industry, assessed competitors, risks, and barriers to entry, and combined this information to create a comprehensive business report and pitch to any potential backers. Studying these problems from a business perspective provided influential insight into our iGEM project, and indeed the entire concept of our project is a direct result of the volatile, finite, and environmentally damaging current production method of ethylene oxide. The image below illustrates how our project was directly influenced by the result of our research:
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In addition to our business report, we created a marketing pitch which could potentially be used to convince investors and backers of the importance and potential of our project. You can see the full pitch HERE.
Furthermore, we created a business proposal which illustrates how our project can be utilised in the real world and converted into a necessary and advantageous product.
Summary
The purpose of this report is to provide an analysis of the development and commercial economic viability and likelihood of the MycoMimic product. This product was produced by the University of Sydney 2015 international Genetically Engineered Machine (iGEM) team. This report was established by the 2015 Sydney_Australia iGEM team, building on the work of Dr Nicholas Coleman at the University of Sydney.
This work aims to produce ethylene oxide in a more efficient, environmentally friendly, and rapid manner. Ethylene Oxide is a prominent and versatile substance that is found in a lot of the products we use daily. The current production method of ethylene oxide is environmentally detrimental, expensive, and uses non-renewable resources as its reagents. A major focus of governments, industries, companies, and universities over the last few decades is to create a more sustainable future. Indeed, in University of Sydney’s Environmental Sustainability Policy, there is an emphasis on encouraging and “integrating relevant environmental sustainability themes into courses and research” (15.B). Furthermore, numerous environmental and sustainability organisations including the United Nations Environmental Program have highlighted the need for alternative greener and more sustainable procedures for producing common compounds.
We believe that this product can significantly assist in decreasing carbon emissions and in creating a more sustainable future for all. The future demand for ethylene oxide is only going to increase as the population increases and countries such as China and India expand and increase in wealth. Consequently, in a time where the demand for ethylene oxide is increasing we simply cannot afford to continue using inefficient, environmentally damaging, and expensive methods of chemical synthesis.
Our Pitch
Bacterial production of ethylene oxide is a significantly better alternative to traditional chemical synthesis.
Current Situation
Ethylene oxide is produced from ethylene from the oxidation process. It is one of the most abundantly produced compound. The industries in which this compound is utilised include but are not limited to pharmaceutical, medical, and manufacturing industry. The world production of ethylene oxide is 9.6 x 106 metric tons and it is likely to be increasing, due to the expand economies of countries like China and India.
