The work performed followed the plan defined in the description of the action:
- Market study: We analyzed the Oil & Gas and Wind Energy markets, their potential and trends, key stakeholders, drivers and main relevant competitors. We also studied the I-WSN position in the market context. The market study is based on desk research as well as meetings and discussions with potential partners and customers from the field.
- Operational feasibility: We analyzed the product requirements and customer needs from the operational point of view. We evaluated the operational risks and devised the solutions for I-WSN to mitigate such risks. Furthermore, we studied how to make I-WSN a successful predictive maintenance program and how to cope with market resistance.
- Technical feasibility: We performed the analysis of industrial technical requirements and extracted the core commonalities across various use-cases and end-users. Next, we evaluated the main hardware components of I-WSN: sensors, power circuitry, energy harvesting and energy storage, data processing and storage. Finally, we evaluated in more detail the two critical software components: wireless communication and damage detection algorithms. On the wireless communication side, we focused on reliability in harsh industrial environments. With respect to the damage detection algorithms, we focused on detection accuracy versus complexity of execution on embedded hardware platforms.
- IPR aspects: We analyzed existing patents in the relevant fields. We also overviewed the possibilities for protecting the innovation and know-how developed in I-WSN.
- Standards and regulatory issues: We identified the relevant standards and applicable regulatory items. We made a list of all necessary tests, approvals and certifications, along with their estimate costs.
- Business plan: We identified strategic business partners and potential launching customers and met them for developing together the business cases. We discussed with them the current processes, bottlenecks and needs that could be satisfied with the I-WSN system. We also discussed the possible collaboration, joint development and trialling, and marketing approach. We refined further our initial draft business plan and made the financial analysis based on two scenarios for the revenue strategy (direct product sale and license-based model).
In addition to these activities, we also started the Business Coaching program that helps us with improving our approach to the market and shaping our business case and business plan more concretely for applying to a follow-up phase 2 of the SME Instrument.
Overall, the worked performed in phase 1 gave a better understanding of the market conditions and brought I-WSN closer to the actual development step. We now understand better the industrial requirements and we have already promising prototypes that can meet standard requirements. We are also better prepared for meeting the necessary “industrial hardened” standards and certifications. Furthermore, the market study and discussions with potential customers identified more clearly the position of the I-WSN solution and the role it could play in bringing down costs with asset maintenance at a large scale.
