Periodic Reporting for period 1 - NAV4I (Nav4I – Precise, reliable and inexpensive navigation and localization technology for indoor environments)
Reporting period: 2015-09-01 to 2016-02-29
1. Extensive initial market research;
2. Definition of the optimal go-to-market strategy;
3. Risk Assessment and Contingency Plan;
4. Definition of the application scenarios and use cases for various customers’ types, listed in Table 1 below;
5. Execution of market test with prospect customers;
6. Detailed business plan;
Depending on the sector, the economic benefit and driver for the adoption of our technology can be different: from cost-saving (in healthcare where time equals cost) to revenue increasing (in retail where the ability to perform relevant marketing generates sales). Our unique selling proposition is that we are the only solution that can provide a great level of service (precision below 1 m) without investment in costly infrastructure.
The market we are pursuing, as a consequence of the multi-sectorial appeal of our technology, is very large ranging across industries and being global in scope. Many firms especially in retail and healthcare have already started programs tests in the field, spending large budgets in the frustrated effort of getting first to the promised revenue boost or expense reductions. “Mobile location-based service (LBS) revenues in Europe to reach 825 mln in 2017. North American market to reach US$ 1,295 mln in 2017”, Berg Insight - August 2013; “Global Indoor Location, Indoor Positioning and Indoor Navigation (IPIN) market to grow from $448.56 mln in 2013 to $2.60 bln in 2018” Markets and Markets – June 2013; “Indoor Location Market Worth $3.9 Billion by 2019” Markets and Markets – August 2014.
By nature, the market for a “software” solution is global in scope.