Spreadsheets run the world. We run spreadsheets.

Project Information

GRID

Grant agreement ID: 867618

DOI

10.3030/867618

Project closed

EC signature date 6 May 2019

Start date 1 May 2019

End date 31 August 2019

Funded under

• INDUSTRIAL LEADERSHIP - Innovation In SMEs

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

GRID EHF
Iceland

Periodic Reporting for period 1 - GRID (Spreadsheets run the world. We run spreadsheets.)

Reporting period: 2019-05-01 to 2019-08-31

Summary of the context and overall objectives of the project

Spreadsheets are used by more than 800 million users but they have limitations in governance and administration and on their usability.

GRID EHF is a SaaS startup that intends to overcome these limitations, improving the findability, accessibility and interoperability of data, and giving users a tool to create online interactive content. Our product, GRID, aims to complement spreadsheets, empowering everyday users to create online interactive creations using only their spreadsheet skills. With GRID, anyone can quickly turn their spreadsheets into attractive and responsive web content, effectively turning spreadsheets into web applications and mobile apps.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

The objective of the Phase 1 was to analyse the technical, commercial and financial feasibility of GRID. During the Feasibility Study, GRID conducted a validation survey. The results helped us determine what we believe is a product-market fit, the advanced features and functionalities needed to achieve willingness to pay, and the subscription levels.

We tested the usability of the Alpha version, containing the basic features for GRID’s free version and we defined the technical requirements for GRID’s advanced features. We grouped them and prepared the workplan to develop GRID’s product releases in the next two years.

In order to examine the commercial feasibility of GRID in the past four months, we conducted a market analysis, focusing on the competitors’ landscape. We examined more closely the commercialization strategy of our biggest competitors and of non-competing with success stories. Considering the market analysis, the interviews with key people and the competitor’s strategy, we defined GRID’s high-level commercialization strategy. We identified potential distribution channels and related actions. We re-evaluated our IP strategy and deepened our FTO search.
Finally, we assessed the financial feasibility and consolidated a business model. We estimated the projection of the revenues, cost, margin and ROI for the first 6 years (after the SME Instrument project) and analysed the need for additional public and private investment.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

The cost of not having FAIR data for the European Union was recently estimated at 1.2 billion euro annually. No-code tools give a way to express everyday users in a way that has never been possible before. With GRID, you no longer need to be a programmer to build things on the internet, empowering a new wave of makers from different backgrounds and perspectives.