The feasibility study focused on the forest fire market, developing a detailed analysis of the sector with the aim of developing a roadmap to introduce our innovative solution in different market segments. Thanks to the stakeholder analysis, the necessary alliances were studied for the introduction of the product in the different identified markets. We have developed a very good understanding of the market segments and the stakeholders involved in those markets, so we will be ready for full commercialization when our technical developments are completed.
Thanks to the feasibility study, we were able to realign our initial business model and analyse the best strategies for a complete market introduction. The modifications to the business plan were made through feedback from the partners and potential customers. We have introduced new business lines, focusing on different types of customers, as well as an intermediate solution to be offered as entry option for wild fires. The legal and IP studies have allowed us to ensure freedom of operation, both from the legal and regulatory standpoint, as well as from the current state of the art. The financial forecast will allow us to present to investors and have an overview of the economic potential of our project.
All these studies have given us an important insight into all the aspects of our business model. Now we have a solid business plan and a very clear idea of the introduction of DroneHopper into the market, so we are ready to apply for the phase-2 of the SME Instrument.