Practical aspects. In order to test a scientific hypothesis, the venture strategy was
developed, proposed and implemented by the medium (sized) industrial enterprise of
the machine-building sector of Ukraine - TOV NFP “Grace-engineering LTD” (Sumy,
Ukraine). In 2014, the company has chosen the breakthrough strategy to new markets
for its development. With the help of an investment platform Startup.ua, the venture
project on the development and manufacturing of the laser machine “Minimarker” for
producing gas-dynamic micro-channels in the manufacture of gas-compressor
technology equipment. This production is aimed at European gas-producing
companies. Usage of the suggested unit allows reducing costs in the manufacture of
gas compressor equipment by 13-15% (Fig. 3), that is extremely attractive from an
economic standpoint.
Figure 3. The main indicators of the venture project, TOV NPF «Grace-
engineering LTD», UAH
The main financial indicators of the project are also attractive (high forecasted
income), but if the company does not reach the planned sales volume for 2019 (for
example, it will remain at the level of 2018), then the project will be unprofitable at the
discount rate of q = 20%. But if the company handles the scheduled plan, then even at
the discount rate q = 25% of NPV
project
= UAH 344,600. Therefore, it is important to
minimize external risks at the stage of strong growth in foreign markets.
The project was interesting for a Finnish venture fund, which has signed an
investment agreement on 40% funding of this project with its bringing to 80% in 2018
and further concessionary sale of intellectual property rights. This agreement, on the
one hand, deprives the company of rights for developing, but, on the other hand,
eliminates the main risk and allows its growth.
The main stages of development and implementation of the breakthrough strategy
for TOV NPF “Grace-engineering LTD” are shown in Fig. 4 (summarized).
Currently the breakthrough strategy of TOV NPF “Grace Engineering LTD” is
not implemented to the whole extent. But the fundamental changes at the enterprise
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