SensoDream was proposed for the SME Instrument call (February 2019) as a Phase 1 project, which was financed by the European Commission (Grant agreement number: 866949). After 4 months of execution, a feasibility study report has been prepared detailing an overview of the technical, commercial and financial aspects analysed within SensoDream solution.
From a technical point of view, technical objectives were well approached. A deep intellectual property and regulations analysis was done and no conflict with our solution was found. The novelty of our solution relies in reassuring parents about all concerns regarding baby sleep. It is the evolution of the healthy, comfortable and successful infant mattress, now including a cloud-based sleep monitoring and analysis system.
After completing a thorough market study, we can confirm the commercial feasibility of SensoDream in infant sleep, infant surveillance and IoT markets. Initially, we will establish our target markets in Europe, with particular attention to Spain, France and Germany. After this first expansion, we will move to Asian countries, where there is a huge market quote in China and Ecus® have already established some contact network. Finally, the final expansion will be into North America countries (USA, Canada and Mexico) where the potential of e-commerce platforms and distributors network will help the company to penetrate to this market.
To reach this expansion, they will hire commercial experts to carry out these activities. In terms of dissemination, we will use several ways to communicate our SensoDream innovation such as webpage, promotional materials, articles on specialised childcare blogs, among others.
Finally, the financial business model was validated during the current study and it is foreseen to apply for a grant to the Phase 2 SME Instrument and receive additional financial support.
Conservative financial forecasts for the first 5 years of the project shows a payback period of 2.44 years and a R.O.I (5 years) of 14.16%. Very conservative and optimistic financial scenarios have also been accounted for.