Bosolog – Multi-sensors and Assets' Log Monitoring and Management Software

Project Information

Bosolog

Grant agreement ID: 697953

DOI

10.3030/697953

Project closed

EC signature date 18 August 2015

Start date 1 September 2015

End date 31 January 2016

Funded under

• INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT)

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

BOSOLOG APS
Denmark

Periodic Reporting for period 1 - Bosolog (Bosolog – Multi-sensors and Assets' Log Monitoring and Management Software)

Reporting period: 2015-09-01 to 2016-01-31

Summary of the context and overall objectives of the project

Bosolog ApS ambition is to build and sustain high growth by becoming a major player in the global market of the Industrial Internet of Things (IIoT). The company forecasts to achieve total revenues of €226 Million with net profits of €22.6 Million within five years after market rollout. The present feasibility study represents a key step towards the implementation of our overall innovation project, the primary goal of which is to scale Bosolog solution into European and global markets positioning the company for high growth, through further technical development and adaptation, strategic showcasing, and market replication. Through the large number of interviews and meetings with machinery and equipment manufacturers the demand for Bosolog was clearly verified. Our analysis shows that our ambitions may be fulfilled if a focused route-to-market strategy is followed.

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

During the reporting period the following was accomplished: • Defined our primary market segment – manufacturers of machinery and equipment; • Completed a detailed market investigation for each of our envisioned initial markets, i.e. Denmark, Norway, and The Netherlands; • Performed three pilot tests of the Bosolog system with ABB, Johnson Controls and Siemens Wind Power; • Clarified our freedom-to-operate; • Further developed and enhanced our business plan.

The concept and approach, as well as the impact was validated favourably through the feasibility study. We have concluded that the overall strategic vision should be expanded. In specific, we confirmed Denmark and Norway as relevant initial markets for Bosolog, but we decided to focus on Germany rather than the Netherlands in this initial stage. In addition, the technical developments required in our system have been further clarified upon completion of the pilot tests with relevant companies.

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)

Bosolog solution innovative solution will track and monitor key parameters of machinery and equipment from the manufacturer to the end-user both during storage and transportation - drastically reducing storage and transportation incidents. The commercialization of Bosolog solution will have the following socio-economic impact (Year-Net profits € Million/New Employees):

2018 – € 0.15/1;

2019 – €0.5/3;

2020 – €1.9/9;

2021 – €65/35;

2022 – €159/65.

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