Coastal and shallow-water monitoring through innovative low-cost technologies for blue growth in the Mediterranean

Project Information

CoMPi

Grant agreement ID: 671952

DOI

10.3030/671952

Project closed

EC signature date 21 April 2015

Start date 1 May 2015

End date 31 October 2015

Funded under

• SOCIETAL CHALLENGES - Food security, sustainable agriculture and forestry, marine, maritime and inland water research, and the bioeconomy

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

LAMPROU D PETRELIS N GP
Greece

Periodic Reporting for period 1 - CoMPi (Coastal and shallow-water monitoring through innovative low-cost technologies for blue growth in the Mediterranean)

Reporting period: 2015-05-01 to 2015-10-31

Summary of the context and overall objectives of the project

PL SURVEYORS has concluded the 6-month period of the Phase 1, where has generated a reliable Feasibility Study and an accurate Business Plan connected to CoMPi, the company’s innovative, EU-funded project. The deliverables of this process were: the Market Study, the Technical Feasibility Study, the Pricing Analysis of the service and the Business Plan.
CoMPi, powered by PL SURVEYORS, an innovative tool & its related services, can provide an indication of the historic profile of the coast, predictions for the future positions of the shoreline, monitoring services of the dynamic coastal evolution, recent high-resolution images, bathymetric charts and contour maps, as well as a variety of other custom-made data to meet every particular request by the Clients. CoMPi appears to fill the gap in providing accurate prediction & monitoring for the shoreline evolution, a crucial issue for coastal populations & economy.
One third of the EU population lives within 50 km of the coast. The economic value of coastal areas within 500 m from the European seas has been calculated to be around € 500-1,000 billion. The cost of doing nothing against the effects of climate change in coastal areas is estimated to be higher than the annual cost of taking actions, which is estimated at € 6 billion by 2020. On the other hand, the net-benefit of adaptation is estimated at a range from € 3.8 billion to € 4.2 billion.
Therefore, the use of CoMPi can facilitate potential end-users to protect their properties with greater efficiency, can be a great "money-saver" from unnecessary and inefficient public works and can support the decision-making-process for future planning and sustainable development of coastal areas.
In addition to the Business Plan, where the outcomes show a strong potential of CoMPi, the other 3 deliverables provided, briefly, converge to the following findings:
 CoMPi has a good momentum and is expected by the market (Market Study 2015)
 CoMPi has sound scientific arguments and solid technical know-how (Technical Study 2015) and
 CoMPi has developed a pricing model which allows good financial margins to prove the whole project viable, even a successful one (Financial Feasibility 2015).

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

The accuracy of the Business Plan 2016 demonstrates the soundness of the offerings proposed by PL SURVEYORS to its target groups, comprising the following Key Segments:
Key Segment #1 concerns the Public sector in its large acceptance, from municipalities and regions principally affected by SLR, to national governments willing to develop ICZM and elaborate a national plan and even the EU Institutions (EC, EP, CdR, etc.) on an expert mode.
Key Segment #2 concerns companies and stakeholders from the banking, insurance & re-insurance industry, private and institutional investors & funds, real estate groups, industries directly concerned by the climate change challenge.
Key Segment #3 concerns Academia (Universities, research centers, etc.) & NGOs (such as the WWF, various national Delta Management Authorities, le Conservatoire du Littoral, etc.)
PL SURVEYORS has the intention to catch the attention of those Key Segments by applying the combined effect of a marketing mix strategy. In order to do so, 5 distinct Markets have been identified, where the total Sales projections derive from:
 Market #1: a combination of Fees from CoMPi as such
 Market #2: EU-funded Projects
 Market #3: Studies
 Market #4: Thematic Courses and
 Market #5: Seminars
The Management & Project Teams' members all dispose of international professional & academic career. They are:
Dr. Nikolaos PETRELIS, Co-Founder
[b. 1979, Dipl. -Ing, MSc / Dr. -Ing (EL)]
Dionisis LAMPROU, Co-Founder
[b. 1980, Dipl. -Ing (EL)]
Prof. Efstratios Ch. DOUKAKIS, Member of the Advisory Board
[b. 1950, Associate Professor, NTUA (EL) / Visiting Professor, TEPAK (CY)]
Prof. Dimitrios SKARLATOS, Member of the Advisory Board
[b. 1972, Assistant Professor, Cyprus University of Technology, Department of Civil Engineering & Geomatics (CY)]
Dr. Konstantinos NEDAS, Senior Member of the Project Team
[b. 1976, Dipl. -Ing, PhD (USA)]
PL SURVEYORS has the intention to launch a request for funding in order to finance its operations to further develop CoMPi & its related services. These operations include:
 R&D costs (researchers, hardware, software, services)
 costs for patents (CoMPi & GIS)
 acquisition of the Depth Algorithm from the Cyprus University of Technology (CUT)
 costs for pilot testing of CoMPi for some selected Clients in EU countries
 marketing expenses (Symposiums, Awards, Media exposure, etc.) in order to communicate the product to the wider audience and future Clients from the Public & the Private sectors

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 accuracy of the Business Plan 2016 demonstrates the soundness of the offerings proposed by CoMPi powered by PL SURVEYORS to the identified market, even with conservative sales projections. Furthermore, it has revealed the capacity of this SME to generate sufficient revenue (more than € 1,000,000 in FY 2020) to run it successfully and to push it forward in proposing CoMPi & its related services to its Clients. This high-quality tool can be proposed at a lower price than that of its competitors and become valuable for prediction & monitoring of the future shorelines and coastal management, a crucial issue for coastal populations & activities, representing 1/3 of the EU's economy.

Following the submission of the deliverables of Phase 1 and the feedback from the European Commission and according to the company’s strategic planning and ongoing preparations, PL SURVEYORS has the intention to submit a proposal for Phase 2 of the SME Instrument (Topic: Blue Growth), before the cut-off date of February 2016.
In the framework of the technical advancement of CoMPi, a number of procedures are currently under way, destined to be concluded before the submission of the proposal for Phase 2. These procedures and operations are the following:
 progression on the automated routine for the intermediate stages of the prediction process ;
 further investigation and finalization of the course of action as regards the acquisition of the AUAV ;
 signature of a cooperation agreement between PL SURVEYORS and CUT on the Depth Algorithm acquisition, as well as on the forms of cooperation between PL SURVEYORS and the Photogrammetric Lab, in terms of exchanging knowledge and expertise ;
 cooperation schemes with other external researchers (GIS experts, coastal engineers) on technical issues ;
 pilot testing of CoMPi in small-scale coastal case studies ;
 establish the IP clearance strategy, assessment of the technological innovation elements, as regards the competitors, of the provisional patent claims and straighten out all pending legal issues (with the assistance of legal advisors) ;
 preparation of bilateral meetings with potential future investors in the CoMPi project, with potential Partners in other Horizon2020 or EU-funded projects (research or business oriented) and with potential end-users/Clients of CoMPi (from both Public and Private sector).
The following critical key strategies will be pursued by PL SURVEYORS:
1. Initiate an accelerated research association & product development for CoMPi (PL SURVEYORS takes the lead with input and assistance by business Partners, other identified stakeholders & interns);
2. Raise additional funding by participating in EU-funded projects (on local/regional/national/European level);
3. Establish a coherent annual planning (annual Business Plans, budgets, internal procedures and policies) and implement a clear business development process;
4. Develop efficient communication actions towards a wide spectrum of publics (private & public sector, business Partners & stakeholders, awareness campaigns, etc.);
5. Employ further staff for identified needs in order to perform all tasks in a professional way and become a centre of excellence in the industry (need of recruitment plan & related job descriptions).
In addition, the following important key strategies will also be undertaken:
1. Intensify contacts with possible funding Partners from the private & public sector in order to best prepare Phase II of the SME Instrument program ;
2. Rationalize event management (participation in main Conferences, Forums & Symposiums), sector intelligence gathering & follow-up ;
3. Pursue strategic alliances (in terms of products & business association) with identified complementary major players in the hotel & real estate ;
4. Strengthen web presence and promote secure « one-stop-shop » business solutions/platform for professionals, individuals & future Members of the Network ;
5. Identify the range of tools, services, products and projects that may interest Network’s Members, prospects and external Partners (including IT companies, Academia, NGOs, etc.).

Final Assessment of the Market Potential for CoMPi
Due to the magnitude of its scale for the ensemble of human activities, climate change and its side-effects constitute a massive market, by any standards. Sea-level rise (SLR) and its own side-effect follow the same pattern, as millions of people live, prosper and travel in coastal zones. So, this is a "big market opportunity".
At the same time, the EU (following the lead of the U.S. and the works and reports of the UN -mainly via the IPCC) has made the commitment to launch its "Blue Growth" strategy in which issues of ICZM are pushed forward constantly, in all programmes of the period 2014-2020. So, this is a "bull market", as well.
Now, are those elements and trends sufficient to support the development roadmap and further growth pattern of CoMPi powered by PL SURVEYORS? When comparing the business model of successful competitors operating in the field for more than 40 years, it is striking to observe the application of such high-priced models to their Clients. Therefore, certainly there must be somewhere a place for an innovative tool & its related services, such as CoMPi, which makes the stand for a low-cost solution in the prediction & monitoring of the future shorelines and in the ICZM.
A low-cost solution which proves itself to become a profitable one, for PL SURVEYORS, its Partners, its Investors and its Clients alike. The epitome of a "win-win" solution.

In this satellite image, a typical Mediterranean coastal area is presented. The historical shoreline