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| Application Stage | Description | Key Considerations | Potential Outcomes |
|---|---|---|---|
| Concept Development | Initial idea generation and feasibility analysis. | Market needs, technical feasibility, regulatory hurdles. | Clear project direction, stakeholder buy-in. |
| Research and Development | Laboratory studies and prototype development. | Funding, technology risks, timeline management. | Innovative solutions, patent opportunities. |
| Testing and Validation | Evaluation of the product under various conditions. | Compliance with regulations, safety standards. | Approval for market entry, quality assurance. |
| Manufacturing | Setting up production systems for mass production. | Cost management, supply chain logistics. | Efficient production, scalability. |
| Market Launch | Introducing the product to the target market. | Marketing strategies, distribution channels. | Sales growth, brand recognition. |