The main activities accomplished during the project have been focused on the feasibility assessment of the proposed 3D Sound Navigator Assistant for Visually Impaired People, including a detailed analysis of user requirements and representative scenarios for product validation and acceptance; industrialization and commercialisation costs; and assessment of product business potential and economic viability.
The plan has been intended as a guide to transform the knowledge and technologies generated during the previous research project in a real market opportunity addressing EU wide and global challenges (considering that the system has already been implemented at a prototype level). With the purpose of validating the solution in a real environment, it was decided to follow a user-centric approach, involving end-user associations and foundations representing or working closely to the visually impaired people community. For that, Stakeholders and representative members from public and private bodies and entities has been contacted and involved in the project for getting the most valuables contributions.
The final results of the activities performed have been included and described in detail in the NAV4VIP Business Plan document including the following sections:
• Economic and financial model viability. The implementation of the business plan has included the financial plan focused on the analysis of the viability, stability, and the profitability of the project. The Financial Viability has been structure towards optimization and for providing comprehensive financial information. The main activities performed are the analysis of the non-economic constraints related with safety and technology regulations, and the definition of the financial plan, encompassing the cost structure definition and analysis, sales revenues, gross profit evaluation, as well as the return of investment forecast.
• Business model viability. The exhaustive market analysis performed has considered both the market targeted by NAV4VIP as well as the competitors. What each competitor offers was identified and described, allowing identifying an unfilled gap where NAV4VIP may focus on. Considering the real and great necessity of the visual impaired people community in getting reliable and accurate guidance systems for improving their mobility and autonomy in unknown scenarios and the interest from public authorities and companies in providing accessibility to different areas and activities, the specific target market segment segments and the specific value proposition for each of those has been identified. The activities performed have also allowed knowing and understanding the main key partners which could be necessary to develop and support the commercialization of the NAV4VIP solution.
• The management model viability has also been considered, identifying the work breakdown structure fo the project and the commercialization roadmap. A preliminary analysis of risks and the mitigation actions have also be done.
Beyond the activities that have had a specific impact in the materialization of the business plan, the company has performed other activities that have contributed to enhance the company positioning and reputation, allowing also identifying and strength relationships with relevant entities.
