The objectives of the present feasibility study were to determine the future viability of Ground Drone and to assess whether or not our present model would lead to a successful enterprise. To that end we followed the previously defined objectives in the SME Instrument Phase 1 proposal.
The objectives and main conclusions obtained are described below:
· Technological Feasibility Study: during Phase 1, we launched a pilot in partnership with a robotic hardware company to test our MOV.AI framework within an industrial context; the pilot along with our market assessment and Phase 2 pilot assignment, allowed us to determine the needed technical features of MOV.AI that still need to be developed and implemented.
· Market Assessment: we looked into market segments, trends and needs. This reshaped our business model. Our new product will be called MOV.AI and it will be a framework that easily transforms mobile equipment into autonomous robots. When we looked at the various market segments and applications we realized that the industrial robotics segment showed tremendous potential and this became our target segment. We also launched a website for our newly envisioned solution.
· Partner Search: once we decided on our new business model as software developers, we looked for partners that would be interested in testing our new model in their current equipment. The companies we have approached have shown high interest in our MOV.AI framework.
· Business Model Assessment: We established a complete business model based on the newly envisioned solution, the MOV.AI framework; our value propositions are based on the fact that MOV.AI is cheaper than current competitor solutions, it’s more convenient and easier to use, and shortens the time to market of our partner’s solutions; we defined future partners and clients along with the necessary key activities that we will offer, based on stakeholder needs; finally we identified the required channels for future MOV.AI commercialization and dissemination.
· Risk Assessment: Considering our target market segments and technical development tasks, we analysed the risks involved with the MOV.AI project and their likelihood, and determined mitigation actions and contingency plans. In light of the high business potential of MOV.AI and despite the identified risks, we still believe that MOV.AI is a project worth pursuing.
· IP Assessment: a brief analysis of existing patents didn’t show any main concerning issues; IP protection will prevent other competitors from reducing our market share by creating competitive barriers.
· Work Plan for Phase 2: Based on the initial targeted market segments we determined the necessary future features of MOV.AI and established a detailed work plan for the development and market launch of our innovative solution.
· Business Plan: Based on our market analysis, current competitor solutions, and on our MOV.AI value propositions, we established a marketing and sales strategy for MOV.AI; our analysis indicates that MOV.AI has the potential to be highly profitable, the potential in MOV.AI as turn the project into the main focus of our company.
