Describe the proposed project (strategy, key experiment(s), and goal(s)) with a statement of the problem to be solved and how the proposed solution addresses this problem. Include identification and significance of the technology, background and technical objectives of the research, and commercial potential. Emphasize the point of novelty and risks associated with the project. How do you foresee the next steps towards commercializing this technology if this phase proves to be successful?
What is the expected impact of the project on the commercial viability of the technology? What is the commercial significance of the project results? How would the proposed project advance the invention toward a marketable product? What would the next steps be in the technical or commercial development of the technology?