Market Research for Agtech Hardware

The report produced in this project will either validate a current product-market fit of a wastewater remediation technology under R&D and prototype development, or provide data-backed reasoning for the company to pivot to a different application/market for this B2B technology. In the former case, a key outcome of the project is to gain several LOIs from the current market players (i.e. Ontario cheese producers), expressing written interest for the core features of the wastewater remediation technology. Specific tasks for the report include: Conduct primary and secondary research to identify current remediation methods applied to various types of cheese & dairy wastewaters in Ontario dairies and cheese production facilities. Include remediation costs and process bottlenecks. Conduct primary research to identify potential early customers in the Ontario cheese industry interested in adopting the technology being developed. Identify current and future sustainability and cost-reduction goals of cheese and dairy producers. Identify decision-makers with signing authority to pilot new technologies at these businesses (note: a list of company contacts is available to help kick-off this project). Develop a short online or phone survey/questionnaire/interview and distribute to the identified decision-maker audience. Analyze response data and compile findings. (Note: a list of interview questions is available to help kick-off this project). Conduct primary and secondary research to identify competitors in cheese waste remediation and utilization on Ontario. Compare service providers' pricing and any technical/economic limitations of their services. Develop market communication and pricing strategies based on the response data from #1-4 above. Synthesize insights and recommendations into a comprehensive report. Note: A signed NDA may be required to elaborate on technical aspects of the technology.

Market Research for Cleantech & Agtech Hardware

Context: Neuston Biosystems Inc is a Toronto-based B2B hardware startup (est. 2023) operating at the intersection of clean-tech and ag-tech to enable circular agro-food bioeconomies. To this end, Neuston is developing a cost-effective wastewater remediation technology that also generates high value agricultural byproducts. The overall goal of this project is to determine a preliminary market and application of this technology. Project outcomes will significantly direct the company’s marketing and technology development efforts, possibly for years to come. Currently, a preliminary market has been identified: Ontario cheese producers; the product fit is the economic remediation of cheese whey wastewaters, by simultaneously reducing producers’ waste management costs while generating animal feed and biofertilizers as a source of income. The main deliverable of this project will be a report that either validates and refines this current product-market fit, or rejects the current fit and identifies new potential customer segments/applications of this technology (backed by robust data from surveys and other sources, and provided with sound reasoning for Neuston to pivot).  This project is suitable for senior undergraduate and graduate level students in marketing . To ensure that the project is manageable and kept within a realistic timeframe of 60 hours per student spread over 2-8 weeks, the tasks to be completed (listed below) may be reduced or edited, in consultation with Neuston. Note: Participation in the project will require a signed Non-Disclosure Agreement (NDA) . Neuston is committed to providing a minimum of 5 hours of mentorship meetings per team via video calls and email. Video meetings will be available at least once per week for a minimum of 45 mins . This mentorship will be tailored to address progress, specific project challenges, offer career advice, and foster a supportive learning environment. The mentorship sessions aim to complement the technical guidance and ensure that students not only complete the project successfully but also gain valuable insights into real-world applications of their skills. This combination of technical support, collaborative tools, and dedicated mentorship hours aims to empower students, fostering an environment conducive to their growth and success in completing the project. These communication strategies aim to establish clear and consistent channels for interaction throughout the project. They provide students with the necessary information, support, and opportunities for engagement, ensuring a positive and collaborative experience. Benefits for Students: Develop marketing skills in matching a new technology with existing and potentially new markets in Ontario. Develop clear communication, relationship-forming, and collaboration skills in outreaching to potential customers (early tech adopters). Develop organizational skills in keeping track of outreach responses. Develop detail-oriented skills by quantitatively evaluating potential product-market fits on multiple bases (technological metrics, customer’s limitations, regulatory laws, bylaws, etc.) Exposure to food waste remediation challenges, including regulatory, technical, economic, and industry factors. Exposure to circular bioeconomy challenges in the agro-food sector. Potential networking opportunities with Neuston Biosystems and Ontario cheese and dairy producers.