Periodic Reporting for period 1 - iSave (Ultrafast, scalable disaster-proof client-side backup solution)
Reporting period: 2017-01-01 to 2017-03-31
Everyday business goes hand in hand with producing large amount of invaluable data stored within the IT infrastructure of the company. Yet, companies are rarely aware of the volatility of digital data. Customer information, website content, mailing data, ERP files etc. are only a few examples of data that are crucial to be easily accessed and most importantly: safe at any time. Cybersecurity incidents are increasing at an alarming pace, disrupting supply of essential services. Economies depend in information and communication technology working seamlessly. All actors need to recognize shared responsibility and take action to protect themselves in order to improve preparedness of private sectors.
Data loss or damage causes significant financial or other hardship to any organization and continues to be a primary concern for IT professionals due to lost productivity and the high cost of data retrieval. The cost of a data loss episode impacting hardware devices is estimated at approximately 2.000€, assuming the data can be retrieved. Episodes of data loss that compromise data records can run into millions of euros, depending on the data loss episode and the industry under consideration.
iSave Ltd. created an SSD(R)-based backup with the world’s fastest image and file level restore that combines the security of local backup, ultrafast recovery and a scalable system structure. Major IT users/companies like Deloitte, HBO, K&H, T Systems, and Kürt Inc. tested and appreciated our product, confirming that the technology may answer to their critical needs and expressed their willingness to buy.
iSave had three objectives during the Phase 1 project and we can say that all of them are successfully completed. The objectives are the followings:
Objective 1 – Market research focusing on willingness to buy and willingness to pay
Objective 2 – Preparing the commercialization strategy
Objective 3 – Planning IPR protection
Data loss or damage causes significant financial or other hardship to any organization and continues to be a primary concern for IT professionals due to lost productivity and the high cost of data retrieval. The cost of a data loss episode impacting hardware devices is estimated at approximately 2.000€, assuming the data can be retrieved. Episodes of data loss that compromise data records can run into millions of euros, depending on the data loss episode and the industry under consideration.
iSave Ltd. created an SSD(R)-based backup with the world’s fastest image and file level restore that combines the security of local backup, ultrafast recovery and a scalable system structure. Major IT users/companies like Deloitte, HBO, K&H, T Systems, and Kürt Inc. tested and appreciated our product, confirming that the technology may answer to their critical needs and expressed their willingness to buy.
iSave had three objectives during the Phase 1 project and we can say that all of them are successfully completed. The objectives are the followings:
Objective 1 – Market research focusing on willingness to buy and willingness to pay
Objective 2 – Preparing the commercialization strategy
Objective 3 – Planning IPR protection
Objective 1 – Market research focusing on willingness to buy and willingness to pay
During the Phase 1 project we performed a market research involving our premium users, and survey their willingness to buy and pay regarding the iSAVE technology. It turned out that the market of our product from one side those computers that need reinstalling and the other side that save big load of data. It is easy to realize that the former statement concern almost all PC and laptops both in corporate and household sector. After the market research it is clear that our potential market is extensive the main task is to build up the most effective channels we can reach the customers. Careful preparation and evaluation of the survey was vital. We focused on our main goal of this market research is to determine the customer and the final price of the product.
Objective 2 – Preparing the commercialization strategy
Based on the results of the market research our second objective in Phase I was to build up the commercialization strategy that orientates us to reach our potential customers through the most effective channels. Our aim was to have a clear and concise description of iSAVE’s market potential and the path we intend to approach our present and potential customers. The necessary resources we use to complete and fulfil the best results with this strategy are also summarized in the feasibility study.
Objective 3 – Planning IPR protection
At the very beginning of PH1 implementation we have started the discussion with the Danubia Patenting Ltd and with the Pintz and Partners Patenting Ltd. and with Hipavilon about the possibilities of patenting and the freedom to operate search. We have made our first patent and novelty search in similar topics and on the SSD market. Though till the end-result there is still a lot search to be done based on the preliminary discussions we were informed that there would be no obstacle to continue our development.
During the Phase 1 project we performed a market research involving our premium users, and survey their willingness to buy and pay regarding the iSAVE technology. It turned out that the market of our product from one side those computers that need reinstalling and the other side that save big load of data. It is easy to realize that the former statement concern almost all PC and laptops both in corporate and household sector. After the market research it is clear that our potential market is extensive the main task is to build up the most effective channels we can reach the customers. Careful preparation and evaluation of the survey was vital. We focused on our main goal of this market research is to determine the customer and the final price of the product.
Objective 2 – Preparing the commercialization strategy
Based on the results of the market research our second objective in Phase I was to build up the commercialization strategy that orientates us to reach our potential customers through the most effective channels. Our aim was to have a clear and concise description of iSAVE’s market potential and the path we intend to approach our present and potential customers. The necessary resources we use to complete and fulfil the best results with this strategy are also summarized in the feasibility study.
Objective 3 – Planning IPR protection
At the very beginning of PH1 implementation we have started the discussion with the Danubia Patenting Ltd and with the Pintz and Partners Patenting Ltd. and with Hipavilon about the possibilities of patenting and the freedom to operate search. We have made our first patent and novelty search in similar topics and on the SSD market. Though till the end-result there is still a lot search to be done based on the preliminary discussions we were informed that there would be no obstacle to continue our development.
The EU Commission has launched a public-private partnership on cybersecurity that is expected to trigger €1.8bn ($2bn) of investment by 2020. The EU is promising to invest €450m ($502m) in a bid to spur innovation in cybersecurity with the remainder coming from the private sector. According to a recent survey by management consultants PricewaterhouseCoopers, at least 80 per cent of European companies have experienced at least one cybersecurity incident over the last year. The number of security incidents across all industries worldwide rose by 38 per cent in 2015. The EU uncontroversial asserts that cybersecurity issues damage trust in e-commerce. Security risks to infrastructure providers in energy distribution, banking and health also pose a growing risk. This trend is the same in Hungary, where the private sector but also the state administration is preparing awareness raising campaigns and state funds for a more secured virtual world.
This trend gives a push to our development since iSAVE is a perfect solution for a safe and controllable data saving and storage. With our product the general state of cyber security will be on a much higher level and people will have the possibility to use and store their data in a much safer environment.
This trend gives a push to our development since iSAVE is a perfect solution for a safe and controllable data saving and storage. With our product the general state of cyber security will be on a much higher level and people will have the possibility to use and store their data in a much safer environment.