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  • Periodic Reporting for period 1 - PROMETHEUS-IOT (a versatile Platform foR delivering incremental, scalable and cOst-effective ad-hoc services froM hETErogeneoUS and collaborating objects in the Internet Of Things)
H2020

PROMETHEUS-IOT Report Summary

Project ID: 698534

Periodic Reporting for period 1 - PROMETHEUS-IOT (a versatile Platform foR delivering incremental, scalable and cOst-effective ad-hoc services froM hETErogeneoUS and collaborating objects in the Internet Of Things)

Reporting period: 2015-09-01 to 2016-02-29

Summary of the context and overall objectives of the project

The idea of PROMETHEUS-IOT is turning moltosenso’s platform into the most used versatile WSAN platform available on the market. The company has developed its own patentable in-house approach that will disruptively unleash the IoT–WSAN markets potential (WSAN 1.8B$ and IoT 1.9T$ by 2020) by simplifying the delivery of incremental, scalable and cost-effective monitoring-and-control services for lots of heterogeneous scenarios (environmental monitoring, telemedicine, building automation, fitness, smart metering, logistics, smart infotainment, oil well monitoring, smart crop, etc).

During this SME Instrument PHASE 1 project, the team has developed the following feasibility study, where it has depicted why the platform is suitable for going to market, which are the most profitable markets and which roadmap should be followed in the future by the company.

This feasibility study has assessed viability of such a multipurpose platform as follows:
A) Users assessment: the economic viability and sustainability of such a platform has been proved against the correct identification of users’ needs;
B) Market assessment: a validation of the marketing targets and the forecast of units produced and sold has been accomplished;
C) Technological assessment: both the real PROMETHEUS-IOT adaptability (technical customization) toward the highest number of different scenarios and the real scalability of the featured solutions, with an eye to the costs of the integration with legacy systems have been tested;
D) Partners’ acquisition assessment: the platform is an enabler for new services and it is striving for better developing the IoT paradigm;
E) Legal assessment: thanks to moltosenso's platform, certifications (CE for hardware, safety critical for certain kind of firmware, ATEX) can be easily addressable in an incremental fashion;
F) Sustainability assessment: the feasibility study and the new connections of the last months offer stunning opportunities to follow-up this project into a fast market uptake of moltosenso's systems and services.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

Team has hardly worked internally and with experts and coaches to achieve these results:
A) Users assessment: prove the economic viability and sustainability of moltosenso's platform;
B) Market assessment: validate the forecast in market adoption and saleable units;
C) Technological assessment: prove the PROMETHEUS-IOT adaptability (technical customization) toward the highest number of different scenarios and its real scalability;
D) Partners’ acquisition assessment: prove that the platform is an enabler for new services and it is striving for better developing the IoT paradigm;
E) Legal assessment: prove that, thanks to moltosenso's platform, certifications (CE for hardware, safety critical for certain kind of firmware, ATEX) can be easily addressed in an incremental fashion;
F) Sustainability assessment: the feasibility study and the new connections of the last months offer stunning opportunities to follow-up this project into a fast market uptake of moltosenso's systems and services.

SME Instrument Phase 1 well served for moltosenso in strengthening the general approach in modelling the underlying core idea, adapting it both to technical needs and challenges, breaking through the current thresholds of state of the art, and, flexibly, to those vertical markets that can be triggered and addressed in the short range with few yet significant further development and managerial steps.
As previously stated, the main objectives of SME Instrument Phase 1 follow ups, are identified as a set of actions and tasks that originate from the work done so far and boosted thanks to the EU funding.
We can summarize these actions (as result of this project) as follows:
• Defining a sustainable roadmap for the development of a pre-production stage of the most promising vertical product from the platform (identified through a development path according to industrial design standards, therefore driven by cost saving and reliability drivers);
• Setting a continuous assessment of the surrounding conditions (market trends, user needs, channelling, viability, intellectual asset enhancement and protection).
• Networking with prior activated stakeholders of the vertical segment chosen, in order to foster and activate the ecosystem which will test the pre-production system, helping and supporting the exploitation of the results of the ongoing activity of development and market uptake;
• Defining a financial roadmap, which will minimize and mitigate the possible risks that have been analysed alongside the Phase 1, in particular the risk of obsolescence of the idea itself risen from the narrowness of the financing tools that may help a SME as moltosenso to consolidate its position in the marketplace, providing a competitive advantage not only for the company itself but also for the whole IoT European segment which would benefit of the technological transfer that the adoption of the moltosenso platform would lead and provide to the whole community.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

The approach of the company to its very next steps following the end of Phase 1 is pretty the same that inspired the previous actions taken. In other words, Phase 1 put the spotlight on a well-defined, keen and accurate trajectory which will be pursued by the company with all its efforts.
Nevertheless, provided that the affirmation and conquering of the market is not a process that can be faced nor consolidate using only own resources, the company need to set its course also trying to address financial tools provided by regional, interregional and EU funding schemes which could support it in daily development activities, lowering the financial exposure for a roadmap that currently stresses the need of about 800k€ of further investments in order to achieve the pre-market conditions.
That given, moltosenso surely is in need of further assistance both at a strategic and analytical phase (as stated, a huge, much needed help will be given by the July session of the European Innovation Academy) and at a financial phase. For that reason, all efforts are still converging to the direct access of risk finance, which means that the application for SME Instrument-2016-2017: Accelerating market introduction of ICT solutions for Health, Well-Being and Ageing Well, Phase 2 is foreseen for the Q4, 2016. This would be a significant milestone for a general and wide rehearsal of the first market environment in which moltosenso would enter with its platform through a vertical market.
The main impacts are foreseen in unleashing a business that – even if addressed as a minor player – would activate significant cash flows (up to 11M€/year at the fifth year of exploitation). Moreover, this would allow the definition of a modular IoT platform that would be, thanks to its plug and play approach, one of the pillars of the coming true of the IoT worldwide vision which, so far, expresses itself as a huge economic potential, not yet defined nor achieved.

Related information

Record Number: 190030 / Last updated on: 2016-11-03