During this feasibility study, we have carried out the following actions to ensure that we meet technical and commercial requirements to commercialise by the end of the upcoming Phase-2:
Task 1.1: Technical feasibility assessment.
1. We have identified the technical developments to refine our current design (e.g. modulation of Z-tones frequencies) to reliably implement evacuation plans well adapted to the demand from our two primary target markets: Football stadiums and Underground services.
2. With the support of key partners (with knowledge on evacuation simulation software) and our key provider (specialists in software development, and engagement through digital marketing who will join our consortium as partners in Phase-2), we have defined a complete emergency management and preparedness ontologies, as well as control dashboards to carry out evacuation plans.
3. We carried out a thorough risk analysis identifying also a set of mitigation measures and contingency strategies.
4. We defined a thorough project plan to refine our current implementation paving the way to incorporate additional scenarios in the short/mid-term, and derived both validation metrics (where we counted with the support of aforementioned early adopters), main work-packages, tasks and milestones, strategic providers and subcontractors whose commitment gain to finalise a market ready solution by the end of the upcoming Phase-2. As part of this work we also defined with the support of end-users and early adopters, a set of tests and performance/quality metrics to validate our technology in a real-scenario field-test (evacuation tests).
5. Based on the technical requirements elaborated as part of the commercial feasibility assessment we have determined the manufacturing costs of each component of our solution.
Task 1.2: Commercial feasibility assessment.
We have carried out a thorough marketing study of our primary targeted markets and identified all critical tasks for a successful product commercialization. Based on this study, we have:
1. Defined a preliminary commercialization plan, including a commercialisation risks identification and defined mitigation measures and contingency strategies.
2. Defined the value chain and the supply chain of Zoovel-UC, identifying key partners, critical providers and strategic stakeholders to reach commercialisation stage by the end of the upcoming Phase-2 of our project.
3. We have identified a powerful commercial ally, a big UK company specialised in entertainment, sport and media willing to lead Zoovel-UC commercialisation in the UK, the US and in the Commonwealth region. This company is represented in Spain.
4. We have studied the regulatory context and identified all certification actions to commercialise our technology in our primary targeted markets, deriving precise technical requirements included in our project plan.
5. We have carried out a benchmarking, including competitive intelligence analysis, technology watch and freedom to operate study that confirm we are 2-3 years ahead our competition and that we do not infringe any previous patent. Indeed, a patent has been filed as of 2017/02 protecting the innovation upon which our communications are based.
Task 1.3: Elaboration of a business plan.
1. Based on tasks 1.2.2-3 outcome, we have explored different commercialization options: (1) Joint ventures with specific vertical players (e.g. providers of safety & security services); (2) Joint ventures with telecom equipment manufacturers (e.g. Wi-Fi routers manufacturers, interested in integrating our technology in their equipment, as this would give them real broadcasting capabilities); (3) Running on our own both industrial production and services exploitation (we would need support from an industrial manufacturer taking care of industrialising our IoT access points, while we would focus on the software ecosystem development and service exploitation); and (4) Zoovel as a Service (we would provide a full stack cloud-ready ecosystem to companies offering evacuation services including: (i) Notification service to users based on ultrasounds during emergency management and combining ultrasound with IP wireless radio communications during emergency preparedness / post emergency stages. (ii) IoT security access points based on Zoovel’s IP (see freedom to operate study); and (iii) Cloud security server handling both emergency related and engagement related actions.
2. We have decided to run on our own both industrial production and services exploitation (option 3), while we will further study options (2) and (4) during Phase-2 as interesting options in the mid/long-term. It is important noticing that option (2) can also become part of an exit strategy, as our solution complements theirs by cost-effectively, efficiently and reliably broadcasting emergency directions. This option would bring us ~€8.6-million retained earnings, and RoI>4.3 (present value) for the realistic scenario during the first 5 years of business.
