HeadChef™ is a product innovation by HCTechnologies combining existing technologies to bring about better, more convenient and easily customised health and recipe management into the kitchen. HeadChef™ will be designed and manufactered in Australia.

Empirical evidence indicates trends are emerging whereby:

• cooking skills are seen to be the ‘new cool’ by younger consumers,

• home cooking is being viewed as a ‘status skill,

• entertaining at home is widening in popularity,

• younger consumers are looking to cook more creatively, bucking usual stereotypes,

• consumers’ still favour ‘scratch cooking’,

• ‘at home’ meal occasions are forecast to increase due to aging populations are the new.

Whilst the overall trend continues to see convenience options taking a preference over more traditional forms of cooking, the emergence of the trends identified above coupled with the consumers ‘need’ to find a trusted helper in the kitchen that hits the three mega-trends of convenience, health and sensory indulgence will prove a winner.

The media is already starting to flag that there is a deficit of technology in the kitchen. HCTechnologies is poised to take up this current deficit in the home kitchen. WE believe that HeadChef™ will provide an innovative, technological solution for the consumer by providing health and recipe management at the touch of an easy to follow screen.

HCTechnologies will launch the HeadChef™ product in the Australian market. This strategy is based on numerous factors namely:

a. Current economic climate – the Australian economic climate is not as adversely affected by the dire global economic factors hence Australian consumers will be better situated to take up the new product innovation;

b. The Australian population is generally trending towards being more receptive to a change in a healthier lifestyle;

c. Whilst Australia tends to be behind US and Europe in electronic trends, by launching product in Australia first, HCTechnologies will be better placed to launch HeadChef™in the US once the product has established and the company operational systems are fully functional, efficient and effective.

This stage of investment will enable HCTechnologies to profoundly build a strong footing in the step to create a manufacturing facitility in Australia. A protoype HeadChef™ unit has already been constructed by HCTechnologies and the retail version software is currently under development by Melbourne based, Mintec Systems. Investment is currently needed for:

• Finishing the development and testing of the retail version software

• Constructing 20 to 30 test HeadChef™ units for design, segmentation, manufacturing and software testing.

• Securing retail sales agreements with major retail chains, to develop a national sales network

• Securing supply and trade agreements from overseas component manufactures

• Setup of a workshop and office to accomidate HCTechnologies while manufacturing systems are developed and a manufacturing plant is secured.

A SWOT analysis has been completed and several risks and weaknesses were identified. The obvious risk with this venture is the low take-up rate of new technology. However, it is believed that the simplified product design and the targeting of the right market segments within the Australian market will be successful. The product will deliver to the consumer the right blend of convenience, simplicity, healthy lifestyle management and ability to indulge the senses with fabulous recipes. The risk is further minimised by careful planning and continual re-assessment of the product and its assembly processes and HCTechnologies' commitment to efficient systems design will ensure the success of HeadChef™