The major objective of the feasibility study to be implemented in Phase 1 of the SME Instrument was to verify the technological/practical as well as economic viability of our solution and also to roadmap the commercialisation together with a solid business plan. The specific objectives were:
• to identify and connect with strategic partners that will adopt the solution in testing and will validate it, boosting market uptake (broadcasters, television, sports, conferencing, parliament)
• to develop a marketing and communications strategy;
• to develop the comprehensive version of the business plan based on the data gathered during the feasibility phase, taking into account the technology penetration estimates, the profit gains from the use of the technology and the price point at which the solution would be viable.
All proposed objectives were fulfilled and even exceeded the expectations. We conducted discussions with strategic partners and discovered new gaps that we can fill in with additional innovative features that we plan to add on our product development roadmap.