ServicesInnovation Strategy Brand/Marketing Strategy Creative Consultancy
Qindle worked with Foamplant to create a market expansion strategy for their unique, sustainable, flexible foam technology.
Foam is estimated to account for over 50% of plastic waste by volume. The global demand for foam continues to grow, and so sustainable alternatives are emerging in this market. While rigid foam can be more easily replaced with other materials, flexible foam currently has few alternatives.
Dutch startup Foamplant took on this challenge; they created the world’s first circular and bio-based, flexible foam and successfully entered the horticulture market with their “Growfoam” solution. Independent fund manager NBI Investors connected Qindle to Foamplant to assist the startup in expanding their unique technology into new markets.
With Qindle’s support, Foamplant selected a new market with a tangible plan for entry whilst simultaneously providing their existing market through a shared technology roadmap. This blueprint for expansion was an essential step towards Foamplant’s goal of transforming the foam industry with biodegradable, sustainable alternatives.
Qindle’s approach focused on connecting Foamplant’s unique material characteristics and IP with markets that fit their business and strategy. An innovation workshop facilitated and created by Qindle delivered a long list of over 500 ideas. Follow up sessions and “market business scans” consolidated that list to just two, and eventually one highest-potential market segment for Foamplant’s growth.
Beyond market strategy, Qindle developed a business innovation strategy that combined their existing IP technology roadmap with milestones necessary for Foamplant’s expansion. The plan was further materialised in an investor pitch deck that helped gather investor buy-in and capital for their expansion plans. The company is steadily growing in the horticulture market with their Growfoam solution and started expansion into a new market with their growing foam technology IP base.