The following tasks were defined in the first phase of SME Instrument inside of feasibility study:
Task 1: Risk Assessment.
When an organization decides to engage in international activities, they also take on additional risk as well as opportunities.
Risks associated with entry into a potential foreign market derive from the company's ability to adapt to existing regulations in matters of road safety and environmental pollution.
The main risks the company will need to face are: Financial obstacles; Trade obstacles; Logistical obstacles; Legal barriers; Obstacles to direct investment.
Task 2: market research.
The size of the market for these products is difficult to quantify and predict. However, data has been accurate on the number of vehicles in use in Europe, and there is a direct relationship between the number of vehicles and the real needs to regulate the speed in residential áreas and the pollution that vehicles produce. The conclusions of the market study are clear as regards the growing need to control the traffic in Eurozone residential zones. These markets have the advantage of being under the umbrella of the European Union that eliminates the currency effect, facilitates paperwork and reduces costs.
On the other hand, apart from roads with a lot of vehicular traffic located in residential areas, there is another main market niche detected by the company and to which Badennova's commercial action will also be directed.
This niche consists of parking and roads with little traffic of vehicles. Many types of customers have shown interest in this type of facility. Councils, Parking, Public buildings, airports, ports, train and bus stations, Commercial and shopping centers; Large companies with own parking; Private buildings; Hotel chains; Sport resorts or stadiums; camping; residential áreas.
Task 3: user Involvement
The normalization of the use of intelligent speed bump will be very beneficial for all actors involved.
So far many types of potential users have shown interest in Badennova’s smart speed bumps.
- Cities, villages and Public organisms: Madrid City Council, Andalusia Region, etc.
- Hotels, Private buildings, car parks, etc.
- Road tools distributors: API, ATA, SAFECITY Engineering, etc.
Task 4: Business Strategy
As mentioned above, Badennova's business model consists of the search for business through strategic alliances in the different target countries.
These strategic alliances consist of distribution agreements with or without exclusivity that have the objective of supplying the local market. These agreements will always be reached with specialized distributors in the sector who have shown a correct trajectory in the market.
The company anticipates the following actions as some of them have already been started:
- 1st: Spain, Germany, UK, Sweden
- 2nd: rest of Europe
- 3rd: Chile and Argentina
- 4th: middle and Far East.
- 5th: rest of the world.
Task5: Final Dissemination and Exploitation Plans.
Due to the good acceptance of smart bumps in world markets, Badennova aims to reach a high level of internationalization in Europe during 2018.
All this without leaving aside the pretensions of reaching the maximum penetration in the Spanish market, which is in an upward phase of urbanization that offers enormous possibilities of expansion of the Badennova Company throughout the territory.
