Periodic Reporting for period 1 - DeviceHub (The next generation of internet-of-thing (IoT) connectivity.)
Okres sprawozdawczy: 2017-06-01 do 2017-09-30
DeviceHub.net is the open-source ecosystem and management platform (EMP) for Internet of Things. DeviceHub.net has everything required to develop, interface, control and manage, as well as extract valuable data (Business Intelligence) from connected devices across various platforms, all in one place and at a fraction of the cost of state-of-the-art. DeviceHub provides complete, pre-built IoT applications – smart utility metering, smart home thermostat, air quality monitoring, automotive fleet management, etc. - as well as data-driven, innovative visual programing technology for creating any kind of IoT application. Our ecosystem encompasses development hardware and electronics (HDKs) with SDKs (Software Development Kits) and APIs (Application Programming Interface), cloud infrastructure for IoT management that is free-of-charge. DeviceHub is an IoT marketplace where companies can fully exploit the business potential of IoT sector.
The DeviceHub project addresses the topic SMEInst-01-2016-2017: Open Disruptive Innovation Scheme. As a catalyst for IoT innovation in Europe, our scheme will disrupt the IoT industry with a unique product that will bridge the technological gap and unify IoT development in both the public and private domains. We envision our project to have the following impacts related to the Work Programme and IoT uptake in Europe:
DeviceHub will increase EU profitability and economy growth by fostering IoT innovation and enabling SME and start-up growth, with open-source IoT ecosystem and management platform.
DeviceHub will create a new ‘marketplace’ for IoT developers to share (and monetize) IoT applications to facilitate the so-called “next production revolution.”
DeviceHub will impact EU job creation by enabling Start-ups and SMEs with limited resources to execute and commercialize IoT solutions. SMEs represent 99% of all businesses in EU.
We expect significant internal growth in annual turnover.
Our efficient team is expected to increase significantly to employ at up to additional 50 employees.
The EC financing will help us rapidly scale-up our existing DeviceHub platform to find market fit and scale.
Objective of the Phase 1 SME Instrument Feasibility Study was to determine if DeviceHub is a viable and sustainable business opportunity. Specifically, we wanted to carry out an in-depth market study, in which we identify the market opportunities and market trends for DeviceHub, as well as perform a thorough technical feasibility analysis. As the result, we aimed to prepare a business plan based on the results of the feasibility study, technological analysis and the analysis of relevant IPR and positioning strategies, as outlined in the Work Plan.
The DeviceHub project addresses the topic SMEInst-01-2016-2017: Open Disruptive Innovation Scheme. As a catalyst for IoT innovation in Europe, our scheme will disrupt the IoT industry with a unique product that will bridge the technological gap and unify IoT development in both the public and private domains. We envision our project to have the following impacts related to the Work Programme and IoT uptake in Europe:
DeviceHub will increase EU profitability and economy growth by fostering IoT innovation and enabling SME and start-up growth, with open-source IoT ecosystem and management platform.
DeviceHub will create a new ‘marketplace’ for IoT developers to share (and monetize) IoT applications to facilitate the so-called “next production revolution.”
DeviceHub will impact EU job creation by enabling Start-ups and SMEs with limited resources to execute and commercialize IoT solutions. SMEs represent 99% of all businesses in EU.
We expect significant internal growth in annual turnover.
Our efficient team is expected to increase significantly to employ at up to additional 50 employees.
The EC financing will help us rapidly scale-up our existing DeviceHub platform to find market fit and scale.
Objective of the Phase 1 SME Instrument Feasibility Study was to determine if DeviceHub is a viable and sustainable business opportunity. Specifically, we wanted to carry out an in-depth market study, in which we identify the market opportunities and market trends for DeviceHub, as well as perform a thorough technical feasibility analysis. As the result, we aimed to prepare a business plan based on the results of the feasibility study, technological analysis and the analysis of relevant IPR and positioning strategies, as outlined in the Work Plan.
Our detailed feasibility study covered following Tasks:
Task 1: Assessment of technical viability and refinements required to achieve industrialization;
Detailed assessment of the technical viability, applications and refinements required to achieve industrialization and final commercialization of DeviceHub was performed. Results of the analysis were reported and used to generate a comprehensive Work Plan for Phase 2 of the project.
Task 2: Market assessment and segmentation - perform a more detailed market research how to reach global markets;
A comprehensive market assessment was carried out internally. Worldwide IoT spending to reach €4.59 trillion by 2018. B2B spending on IoT technologies, apps and solutions will reach €250B by 2020. Between 2015 and 2020, BCG predicts revenue from all layers of the IoT technology stack will attain a least a 20% Compound Annual Growth Rate (CAGR). DeviceHub anticipates market share, to a varying degrees, across all layers of the IoT technology stack and applications, specifically in discrete manufacturing, transportation and logistics, as well as utilities, in which we have already gained traction and tested our technology.
Task 3: Business Model Assessment;
During Phase 1 Feasibility Study, we devised a business model and pricing strategy that is a hybrid of Freemium and Platform as a Service (PaaS) models. The Freemium business model enables DeviceHub to be uniquely positioned in the market, providing feature-rich technology at the lowest entry cost possible.
Task 4: Risk Analysis;
DeviceHub has studied the market, competition and user needs. Based on our findings, a detailed risk assessment has been devised, including technological, commercial and market risks. We have also performed a SWOT analysis to identify the main risks and threats pertaining to the implementation of our project.
Task 5: Patent and IP protection study - “Freedom to Operate”, patent strategy and its implementation;
We have performed extended analysis of the Intellectual Property, supported by external patent office, and prepared a strategy to be implemented in the next phase of the project.
Task 6: Phase 2 Definition: Activities to be carried out in Phase 2, including complete Work Plan development;
A comprehensive Work Plan was generated for the execution during Phase 2, specifically technological and commercial Work Packages.
Task 7: Elaborated Business Plan;
Detailed market study was performed. We have identified market trends and the ecosystem in the IoT industry. Development, distribution and commercialization were planned. Financial projections were simulated. The most suitable market opportunities for DeviceHub were identified.
Task 1: Assessment of technical viability and refinements required to achieve industrialization;
Detailed assessment of the technical viability, applications and refinements required to achieve industrialization and final commercialization of DeviceHub was performed. Results of the analysis were reported and used to generate a comprehensive Work Plan for Phase 2 of the project.
Task 2: Market assessment and segmentation - perform a more detailed market research how to reach global markets;
A comprehensive market assessment was carried out internally. Worldwide IoT spending to reach €4.59 trillion by 2018. B2B spending on IoT technologies, apps and solutions will reach €250B by 2020. Between 2015 and 2020, BCG predicts revenue from all layers of the IoT technology stack will attain a least a 20% Compound Annual Growth Rate (CAGR). DeviceHub anticipates market share, to a varying degrees, across all layers of the IoT technology stack and applications, specifically in discrete manufacturing, transportation and logistics, as well as utilities, in which we have already gained traction and tested our technology.
Task 3: Business Model Assessment;
During Phase 1 Feasibility Study, we devised a business model and pricing strategy that is a hybrid of Freemium and Platform as a Service (PaaS) models. The Freemium business model enables DeviceHub to be uniquely positioned in the market, providing feature-rich technology at the lowest entry cost possible.
Task 4: Risk Analysis;
DeviceHub has studied the market, competition and user needs. Based on our findings, a detailed risk assessment has been devised, including technological, commercial and market risks. We have also performed a SWOT analysis to identify the main risks and threats pertaining to the implementation of our project.
Task 5: Patent and IP protection study - “Freedom to Operate”, patent strategy and its implementation;
We have performed extended analysis of the Intellectual Property, supported by external patent office, and prepared a strategy to be implemented in the next phase of the project.
Task 6: Phase 2 Definition: Activities to be carried out in Phase 2, including complete Work Plan development;
A comprehensive Work Plan was generated for the execution during Phase 2, specifically technological and commercial Work Packages.
Task 7: Elaborated Business Plan;
Detailed market study was performed. We have identified market trends and the ecosystem in the IoT industry. Development, distribution and commercialization were planned. Financial projections were simulated. The most suitable market opportunities for DeviceHub were identified.
Phase 1 execution proved that the DeviceHub project is feasible technologically and has great commercial and practical value. DeviceHub is the first cloud management ecosystem platform (EMP) for Internet of Things, a scalable IoT platform that empowers customization and addition of new algorithms and protocols that enables users to connect devices, sensors and networks working with both analog, digital, message and map data in the same, unified dashboard. Therefore, we plan to continue development of our product and technology to eventually offer it on the market.