"We performed a complete market study, using quantitative and qualitative data. We used data from a market report and from an questionnaire to potential customers in order to measure the market size and analyze the customer needs, With this information, we elaborated a PESTLE and SWOT analysis and developed the sales policy, pricing strategies and the overall marketing plan.
A technological analysis has also been performed by comparing the different technologies used by automatic people counters as well as the existing solutions from competitors. We centered our analysis in the accuracy of the solution as this is the key feature that differentiates us from other competitors. The analysis resulted in the decision to use ToF with illumination sensors and the need to certify the devices that will be installed on-board of vehicles.
A legal analysis was also performed, and with the help of a specialized firm in IPR, we assessed the novelty, freedom-to-operate and IPR strategy, with positive results.
The financial analysis, as a result of the market research, studies the costs structure, performs a sensitive analysis with three scenarios (projected, pessimistic and optimistic) establishing realistic sales projections for the following 5 years and the corresponding profit&loss analysis for each scenario. We also determined the funding needs and the strategy, resulting in applying for the phase 2 of the SME instrument, financing part of the action with own funds, and after the project, with the solution ready for market uptake, with new equity.
The feasibility study helped us in redefining certain parts of the solution that are detailed in the ""product"" section of the feasibility study.
We decided to implement an ambitious demonstration action, through a field operational test in the city of Barcelona, involving public transport authorities, and private and public operators, that will demonstrate the capabilities of our solution and allow us to gain knowledge and market recognition.
We have letters of support from public transport authorities and operators endorsing the project that are included at the end of the feasibility study.
In consequence, we developed a detailed business plan."