Periodic Reporting for period 1 - SIPAR (A revolutionary gait analysis system for smart injury and performance management.)
Reporting period: 2019-10-01 to 2020-03-31
DANU SPORT is breaking down the boundaries of unnatural, lab-based gait analysis by developing disruptive wearable technology that revolutionises injury and performance management in sports. Danu Sport has developed an innovative wearable gait analysis system that removes the restrictions of traditional lab-based gait analysis. Thus, empowering coaches and athletes with a smart, unique, and accurate tool to reduce injury occurrence, reduce rehabilitation times & maximise athletic ability. The company has developed the most advanced sports wearable in the world using irreplicable patent-protected sensor technology. This wearable is a pair of sensor integrated smart socks that work with mobile analytics software to measure human movement to the highest degrees of accuracy. These work with state-of-the-art machine learning that continuously improves to build a database of predictive analysis for injury prevention and rehabilitation.
The key benefits offered by this technology are:
>Predictive analysis to prevent injuries and reinjuries.
>Live and remote monitoring solution.
>Enhanced athlete performance:
>Accurate and reliable management of Injuries and Performance
>Intuitive, user-friendly system that tailors and simplifies data to match the needs & expertise of each individual user.
>Covid-19 remote monitoring solution for analysing athletes during social restrictions.
The First objective of this project was to maximise the company’s business acumen with a robust and comprehensive business plan. This plan would include evidence-based strategies for market penetration, manufacture, intellectual property protection and contingency planning.
The second objective was to understand customer and competitor behaviors that could be implemented into a sound go-to-market strategy for commercialization.
The third objective was to gain as much customer insight as possible and would with world-class technical partners to define the final product, develop a strategy for mass manufacture and develop the supply chain partnerships necessary to implement that strategy.
Danu Sport has developed this technology to with the objective to help athletes of all levels & gender maximise their potential and reduce the physical & emotional cost of these injuries in sport.
The primary business goals completed in this project were:
>Customer & Business Model Validation
>Quantify the Size & Reachable Market
>Establish a Sound Go-to-Market Strategy
>Accomplish accurate 5 Year Financials
>Complete a Risk assessment & Contingency Plan
The primary technical goals completed in this project were:
>Assess Mass Manufacture Strategy & Implementation.
>Define & test a minimum viable product
>Establish effective & comprehensive IP strategy
Interviews with potential customers, users, competitors and industry experts were key to achieving the company’s research goals into the market. These interviews gave a broad understanding of the purchase trends of the target market, purchase influencers, price points and other key market information that led to the development of a market research report and a following Go-To-Market strategy that is summarised in this report. The interviews mentioned above, along with user studies, comparative studies and validation studies were key to defining the minimum viable product. This information was used with the technical partners to develop a project roadmap towards a commercialisation ready product that is ready for manufacture and suits the exact needs of the customers.
Through this feasibility study, this project has evolved from a good technical project, into an excellent business opportunity. It is clear from the results of this feasibility study that there is a great opportunity to continue this project and establish an innovative company, with disruptive market technology and revolutionise the sports analytics industry.
The clear socio-economic impact from this project is of course employment opportunities and the protection of employment. Athletes rely on their fitness and bodies for employment, so if our technology can reduce the likelihood and prevent just 1% of injuries from occurring, that can equate to a 1% saving of athlete employment. A reduction of 1% of injuries has a multi-million euro impact on professional sports organisations also, reducing their wasted expenditure and saving any losses incurred by losing their human assets to injury.
The company has an ambitious plan to set up a charitable wing utilising 2% of gross profits annually. Talent in sports is not racially, economically, or politically motivated, but unfortunately, those factors do negatively influence the potential for talented athletes to succeed, or to nurture their talent while also maintaining an education. Danu Sport will setup four charity funds focused on helping to balance this issue. This is a concept that all profitable companies should pursue.