Periodic Reporting for period 1 - MIND (MIND: A Unique and Ground-breaking System for Home Intelligence that Builds Functional, Assistive, Dynamic and Comforting Infrastructure for a Better and more Efficient Living.)
Reporting period: 2017-08-01 to 2017-11-30
Penetration of the smart home market is only 3% in Europe. Main barriers for adoption are an invasive infrastructure, poor design, complex set-up, unfriendly operation, and a high price. In Europe, customers are highly sensitive to data privacy. Traditional home automation providers use wired networks that imply costly renovations. Do-It-Yourself solutions use low-quality devices powered by cloud-based services with limited end-user´s control over data privacy. Improved design, non-invasive and cost-efficient installation systems are essential to increase the number of households adopting smart home solutions.
The objectives of MIND include providing a simplified system based on a combination of advanced technologies that the smart home market is resilient to embrace, including Artificial Intelligence and Computer Vision, with a strongly design-oriented vision. The overall goal is bringing the product to market readiness, industrializing production and orchestrating our service provision.
The objectives of MIND include providing a simplified system based on a combination of advanced technologies that the smart home market is resilient to embrace, including Artificial Intelligence and Computer Vision, with a strongly design-oriented vision. The overall goal is bringing the product to market readiness, industrializing production and orchestrating our service provision.
The MIND technology has been extensively researched and demonstrated in laboratory and demo houses. We have finalized the technology map, including necessary development tasks, for its industrialization. We have already designed, prototyped and tested the main elements of MIND. Suppliers and partners for hardware and software optimization have been identified and negotiations are advanced. We have studied the market for MIND, identifying a clear demand as well as key markets. We have a well-established network of architects, designers and constructors for supporting MIND commercialization. We have secured our trademark MIND and registered the design of visible components. Our financial projections show the potential of MIND to provide additional sources of revenue and profitability.
MIND will make smart home systems self-learning, based on user habits which will provide customization of house dynamics regardless with minimum input from the end-user (i.e. people with special mobility needs). We will boost the adoption rate of smart home systems by European users that are concerned with data privacy and security. We will save energy and water through automatically compensating careless habits of homeowners.