TECHNOLOGY FOR THE IMPROVEMENT OF SPORTS PERFORMANCE IN NON-PROFESSIONAL CONTEXTS

Project Information

WIMUACT

Grant agreement ID: 774211

DOI

10.3030/774211

Project closed

EC signature date 12 May 2017

Start date 1 June 2017

End date 30 September 2017

Funded under

• INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT)

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

REALTRACK SYSTEMS SL
Spain

Periodic Reporting for period 1 - WIMUACT (TECHNOLOGY FOR THE IMPROVEMENT OF SPORTS PERFORMANCE IN NON-PROFESSIONAL CONTEXTS)

Reporting period: 2017-06-01 to 2017-09-30

Summary of the context and overall objectives of the project

Today scientific and analytic data play an ever increasing role in performance optimization for elite sportsmen and women. The science and technology has developed over the past decade for professional use but in more recent times has moved into mainstream acceptance and consumer activity tracking products have now become widely available.

However, between elite professionals and the mass consumer demand there exists an additional, separate market segmentation of highly motivated competition level athletes and organized team sports participation with semi-professional or amateur status, where currently there is no existing solution, made up of over 22 million federated clubs and organizations around the world.

Our objective is to launch the first wearable device and performance analytics system specifically targeted at this market segment, where currently there is no existing solution.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

In order to fully determine the commercial viability of our new product proposition we have executed a comprehensive market analysis on an international scale to identify and estimate the total market opportunity at more than 180 million units globally by 2020.

We also investigate Intellectual Property and patent applications internationally for risk assessment and awareness of any potential conflicts and to evaluate opportunities for protecting our own product development.

Thanks to the work completed in the project so far we have developed a fully working laboratory prototype and thus been able to validate the economic viability of the project, gaining valuable financial insight for the project which can be summarized as follows; NPV (Net Present Value) over 5 Years exceeds €8.0 Million; IRR (Internal rate of return) 81% and a return on investment within 26 months; Rate of Yield Performance Index above 6.0 Euros for each Euro invested in the project.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

According to studies carried out by internationally recognized institutions and consultants such as Credit Suisse, Intel Europe, Berginsights, Juniper Research and Markets and Market they all predict a rapid expansion of technologies related to sporting performance and IOT,Cloud based data access and forecast a total global market value of $50 Billion.

The possibilities to expand our technologies beyond sports related performance analytics are becoming more evident as we see new opportunities in all aspects related to health, wellness and fighting obesity and other global related issues.

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