Periodic Reporting for period 1 - ARCHIMEDES (Feasibility study for the further development and market launch of the Archimedes Universal Decision Support System for irrigated crops growers)
Período documentado: 2018-08-01 hasta 2019-01-31
On 01-31-2019, the feasibility study carried out by Archimedes – UDSS LLC under SME Instrument project 826310 was completed. Its primary objectives were to assess the viability of a novel AgTech service for irrigated crops growers worldwide and set up the short-term roadmap for its development.
The main conclusion of the action is that the concept is viable and that, in accordance with the concept updates presented in the feasibility report, the work should continue especially in the light of the challenges to be addressed. The problem our service deals with is ineffective irrigation leading to unsustainable water use, higher costs for farmers and yield losses, among others. What our technology offers is better management of water in farming at a low price, resulting in resource efficiency and potentially higher income for the end user as well as more food and cleaner environment of humanity.
The main conclusion of the action is that the concept is viable and that, in accordance with the concept updates presented in the feasibility report, the work should continue especially in the light of the challenges to be addressed. The problem our service deals with is ineffective irrigation leading to unsustainable water use, higher costs for farmers and yield losses, among others. What our technology offers is better management of water in farming at a low price, resulting in resource efficiency and potentially higher income for the end user as well as more food and cleaner environment of humanity.
The further development of the product which got the name IrriGATE was boosted by a successful field trial held in a real farm during the project time-span, and by the attraction of a key partner providing IoT-enabled weather stations for our technology needs. We refined the company business model and, with the attraction of a software programmer and a marketing expert, our team was restructured and expanded. On the IPR side, we filed a Bulgarian patent application with a priority date 25-12-2018, and an application for European trademark registration sent on 29-01-2019.
Our commercial prospects were examined in two ways: first by a third-party agency and second, through a direct online campaign set and run by our new marketing manager. Both surveys displayed great potential ahead of IrriGATE: The third-party analysis coloured the big picture in bright tones, and the initial public response to our very first digital marketing efforts showed that potential customers were indeed interested in what we were about to offer them.
Our positive conclusions led to the drafting of a detailed business plan covering the Archimedes – UDSS mid-term development, also included in the feasibility report enclosed.
Our commercial prospects were examined in two ways: first by a third-party agency and second, through a direct online campaign set and run by our new marketing manager. Both surveys displayed great potential ahead of IrriGATE: The third-party analysis coloured the big picture in bright tones, and the initial public response to our very first digital marketing efforts showed that potential customers were indeed interested in what we were about to offer them.
Our positive conclusions led to the drafting of a detailed business plan covering the Archimedes – UDSS mid-term development, also included in the feasibility report enclosed.
It wouldn’t be exaggerated to say that the SME Instrument project played the role of an accelerator for Archimedes – UDSS in terms of concept evolution, business model refining and company structuring. Thanks to that acceleration which is largely due to the coaching we received, at the moment we are coding the tool, hoping to launch the MVP for this year’s farming campaign.