Market Assessment: A) In-depth Market Assessment: collecting detailed information (i.e. state-of-art solutions, performance metrics, technical and market KPIs) for the data link and SDR sectors through market research and business data bases. The goal was to consolidate REVOsdr value proposition based on in-depth competitors profiling, i.e. financials, operations, sales and executive reports. B) Regulation and Legal Factors: To achieve successful product development and commercialization, TWEVO aligned REVOsdr development according to regional/international compliance and regulations in Europe and the US.
Business Strategy and Commercialization: A) Strategic Partnering: reaching drone manufacturers/integrators, putting forth REVOsdr’s testing program. After the initial work undergone with such partners/Clients, TWEVO is discussing collaboration mechanisms with them. B) MVP: continuous interaction with customers provided the means to assess REVOsdr's competitive advantages, fitting early adopter/initial Client needs. This validated the technology and provided feedback, through iterative incremental product development. C) E-Commerce Storefront: opened TWEVO’s online storefront, to sell REVOsdr OEM boards and boxed versions, as well as REVOsdr demonstrations.
Supply Chain Management: as a part of the product development and planning, we have assessed the hardware and services' suppliers needed to commercialize REVOsdr. This enable us to get a close estimate of the production cost and logistics processes.
After our direct market assessment and lessons learned, our business idea stays solid. It is being confirmed by interested, eager future Clients. And we have moved closer to the market. The work under SME Instrument Phase 1, along with its confirmed business idea, has aided TWEVO in crossing key commercial, business and technical thresholds.
As a result of the project, we have concluded that the direct contact with prospective Clients/Early Adopters, understanding and sensing their technical and commercial needs, is efective strategy to sell our product. These have brought us close to the market, adapting to it. We have confirmed that our planned prices (as well as their evolution) are acceptable.
Being close to the market via paid demonstrations for a very diverse type of clients further confirms the real and large demand for reliable wireless links for drones. It confirms our Go-to-Market strategy, bringing a uniform standardized solution to the market, instead of only a customized solution. We have realised that demonstrations are a strong and effective opportunity to build-up the direct contact, attention, trust and feedback from our largest and most valuable Clients. All our prospective commercial effort, under the SME Instrument Phase 1 umbrella, points to favour a direct sale solution.
A storefront has a complementary role, to support further sales and feed the follow-up of running contacts, in the downstream. The internet communications component of our business may be less effective in the reach of monetisation and returns, but is a long-term objective, showing our presence in the market.
By the end of REVOsdr SME Instrument Phase 1, a group of 14 industry players have been directly reached, leading to the REVOsdr forecasted 1st year sales.
