Periodic Reporting for period 1 - PulSAR (The incident management tool to use when everything goes wrong)
Période du rapport: 2018-05-01 au 2018-08-31
We applied to the H2020 SME Instrument to develop PulSAR, an innovative project management tool with a focus on incident management. Our product will be the first tool to combine incident and search and rescue management, with specific features for preparedness plans.
We currently have 7 customers in Iceland and abroad, which are satisfied with the improvements to their operations that PulSAR has brought. Working with them on pilot projects, we have identified several key areas in which PulSAR requires upgrades to be ready for wide international expansion.
As such, we have undertaken a Feasibility Study to define a technical development plan, and a redefinition of our business plan in preparation for the next phase of expansion of our platform.
We currently have 7 customers in Iceland and abroad, which are satisfied with the improvements to their operations that PulSAR has brought. Working with them on pilot projects, we have identified several key areas in which PulSAR requires upgrades to be ready for wide international expansion.
As such, we have undertaken a Feasibility Study to define a technical development plan, and a redefinition of our business plan in preparation for the next phase of expansion of our platform.
We studied the needs of our clients through pilot projects. Several upgrades are required, to be completed in PulSAR v2.0. This will be done through a 24-month project, with work divided into 5 work plans to be completed by 8 developers. This project will require a budget of €1.94 mil.
We studied the commercial potential of our product, and found that the best area for expansion will be Mediterranean countries. The Freedom-to-Operate analysis concluded that our product does not infringe on current patents or trademarks.
We have defined our business plan, with costs for development and dissemination, and predicted revenues. We predict that PulSAR v2.0 will bring revenues of €4.5 mil for an ROI of 3.37 by 2025.
Based on this Feasibility Study, we conclude that our product is well placed to become a market leader in Iceland and abroad in incident and project management.
We studied the commercial potential of our product, and found that the best area for expansion will be Mediterranean countries. The Freedom-to-Operate analysis concluded that our product does not infringe on current patents or trademarks.
We have defined our business plan, with costs for development and dissemination, and predicted revenues. We predict that PulSAR v2.0 will bring revenues of €4.5 mil for an ROI of 3.37 by 2025.
Based on this Feasibility Study, we conclude that our product is well placed to become a market leader in Iceland and abroad in incident and project management.
Our product is ideal for incident managers in first responder services, government agencies and critical infrastructure businesses. By using PulSAR, we estimate that our customers can save up to € 1.67 mil over 5 years, and time wasted due the inefficient management systems they use. Our v2.0 upgrade will transform our platform into a dynamic one, allowing for frictionless cooperation between entities, easily adaptable to a new language and with a mobile app version to be used by operators in the field.
This will bring wider socio-economic impacts, making our customers more prepared for incidents in today’s increasingly volatile world. This will reduce the damage caused by disasters, preventing many of the injuries and fatalities that occur in such events.
This will bring wider socio-economic impacts, making our customers more prepared for incidents in today’s increasingly volatile world. This will reduce the damage caused by disasters, preventing many of the injuries and fatalities that occur in such events.