Periodic Reporting for period 1 - Breeze (A cloud-based big data analytics platform for air quality sensing using distributed sensors and an unparalleled AI-powered decision support system)
Periodo di rendicontazione: 2019-05-01 al 2019-08-31
The goal of this feasibility study was to analyze the commercial, technical and financial viability of the Breeze sensor + AI air quality measurement platform. The results have validated our strategy moving forward as a viable business.
During our project, we have gathered additional market insights by interviewing decision makers at leading companies within our target verticals in formal and informal settings, participating in workshops and conferences and attending other industry events. Based on the knowledge gathered, we have optimized the service/solution designs for our different target segments.
Additionally, we carried out an extensive risk analysis both internally, but also worked with external support from a university. Based on the gathered insights, we designed an optimize mitigation plan. We also reconfirmed our freedom-to-operate analysis by rechecking the current state of patents, trademarks and designs in our industry field and rechecked our IP protection strategy accordingly.
We identified key stakeholders needed to scale up the company. These stakeholders have been contacted and first business transactions conducted, (tentative) partnerships agreed or proof-of-concepts/pilot implementations conducted. This includes manufacturers (for outsourcing sensor manufacturing processes), suppliers of components (e.g. sensors) and connectivity partners (i.e. telecommunication companies and LoRa network operators). We have analyzed the current internal expertise and domain knowledge in our company and drafted an according strategy to mitigate lack of expertise. A first additional hire has been made in the area of business operations (Head of Operations).
Based on the conducted internal and external studies, we updated our business plan with a detailed go-to-market strategy that is also aligned with different geographic regions and targeted verticals.
Additionally, we carried out an extensive risk analysis both internally, but also worked with external support from a university. Based on the gathered insights, we designed an optimize mitigation plan. We also reconfirmed our freedom-to-operate analysis by rechecking the current state of patents, trademarks and designs in our industry field and rechecked our IP protection strategy accordingly.
We identified key stakeholders needed to scale up the company. These stakeholders have been contacted and first business transactions conducted, (tentative) partnerships agreed or proof-of-concepts/pilot implementations conducted. This includes manufacturers (for outsourcing sensor manufacturing processes), suppliers of components (e.g. sensors) and connectivity partners (i.e. telecommunication companies and LoRa network operators). We have analyzed the current internal expertise and domain knowledge in our company and drafted an according strategy to mitigate lack of expertise. A first additional hire has been made in the area of business operations (Head of Operations).
Based on the conducted internal and external studies, we updated our business plan with a detailed go-to-market strategy that is also aligned with different geographic regions and targeted verticals.
In conclusion, we have hit a funding wall common to many ‘green’ startups, despite creating steady market traction with market-leading customers in each of our target segments. Investors have shown interest in financing our company once we can demonstrate that we have all the pieces in place for a wide-scale commercial launch and worldwide scale-up, which we are unable to do now.
EIC Accelerator financing will bridge the funding gap needed to convince investors. We are confident that our company will attract venture capital to fund our high-growth, scale-up phase after the end of the project.
EIC Accelerator financing will bridge the funding gap needed to convince investors. We are confident that our company will attract venture capital to fund our high-growth, scale-up phase after the end of the project.