Periodic Reporting for period 1 - Yodiwo FEMP (An eco-friendly, Integrated Facility and Energy Management Platform for continuous reduction of infrastructure operating cost, driven by AI.)
Reporting period: 2019-12-01 to 2020-03-31
Facility management (FM) is an industry consisting of facility managers, owners, occupants, and service providers across a broad cross-section of the economy. Typical sectors where FM operates include real estate property, buildings, technical infrastructure, HVAC, lighting, transportation, IT services, furniture, custodial, grounds maintenance and other user-specific equipment and appliances. In 2018, the European FM sector was valued €400 billion . However, it has been slow to adopt new technology. For example, in the European Union, buildings are responsible for 41% of total energy consumption, 60% of electricity use and 50% of the CO2 emissions. Nearly 75% of Europe’s building stock is energy inefficient . Facility Management attempts to strike a delicate balance of optimizing building occupancy, minimizing emergency maintenance while providing best-of-breed services to its occupants and users.
Additionally, today’s smart workplace management requires ongoing sustainability of a building’s indoor environment. FM managers are responsible for occupants’ physical and mental wellbeing. Existing building management systems (BMS) focus on a facility’s physical operational parameters but do not prioritize the users’ comfort in terms of temperature, access to natural light, air quality and ambient sound level. World Health Organization reports that an indoor workplace environment may be responsible for up to 35% of sick leaves and consequently for occupants' health issues and reduced productivity.
YodiFEMP is the only context-aware Integrated Workplace Management System that uses Artificial Intelligence and IoT technologies to harmonically manage energy resources, equipment maintenance and wellbeing, aiming at:
a. up to 53% energy saving
b. up to 25% reduced maintenance cost
c. fewer occupants' complaints about working conditions (gas, temperature, humidity, sound, lighting)
Additionally, today’s smart workplace management requires ongoing sustainability of a building’s indoor environment. FM managers are responsible for occupants’ physical and mental wellbeing. Existing building management systems (BMS) focus on a facility’s physical operational parameters but do not prioritize the users’ comfort in terms of temperature, access to natural light, air quality and ambient sound level. World Health Organization reports that an indoor workplace environment may be responsible for up to 35% of sick leaves and consequently for occupants' health issues and reduced productivity.
YodiFEMP is the only context-aware Integrated Workplace Management System that uses Artificial Intelligence and IoT technologies to harmonically manage energy resources, equipment maintenance and wellbeing, aiming at:
a. up to 53% energy saving
b. up to 25% reduced maintenance cost
c. fewer occupants' complaints about working conditions (gas, temperature, humidity, sound, lighting)
During the 4-month feasibility study, the technical and business feasibility study was performed and the outcome is summarized as follows:
Determination of market size: Yodiwo targets the FM subset market known as ‘Integrated Workspace Management Systems (IWMS) driven by AI and IoT which is estimated to be worth €5.3bn by 2026, representing a CAGR of 14,2%, aiming at a market share of 4% by 2026 with 70% of it coming from EU and 30% from USA and APAC.
Competition analysis: The analysis of 54 competitive products revealed that YodiFEMP is the only context-aware IWMS in the market that uses AI agents to harmonically manage energy, equipment maintenance and wellbeing with the highest RoI for both the FM operators and the business owners
Compliance with market needs: A strong interest from FM Service providers and building owners for IWMS systems driven by AI and IoT was confirmed by the survey Yodiwo conducted with 20 companies. 15 of them provided a detailed list of services that they would like to be handled with AI by an IWMS. The outcome of the survey along with the competition analysis was used to define the Minimum Viable Product (MVP) and the roadmap.
Definition of go-to-market strategy: Yodiwo secured Letters of Intent from 10 customers who are interested in using YodiFEMP for managing at least one of their buildings. In addition, based on agreements that have been signed with global companies with strong presence in FM, Yodiwo has developed a sound go-to-market strategy.
Refinement of the business model: A B2B model based on SaaS that guarantees scalability has been developed. The target group is primarily FM service providers where each one of them will use YodiFEMP to provide services to at least 30 buildings in 5-year time, generating an annual revenue for Yodiwo of €6,400 per building in average
Development of scale-up strategy: A partner network creation plan that engages business and academic organizations from the value chain of FM has been developed for global penetration. Parallel activities in sales, marketing and business development have been specified which will contribute to fast network expansion and awareness creation
Technical feasibility s: Yodiwo’s engineering team consists of 19 highly skilled scientists with experience in IoT and AI/ML technologies. The team will be doubled within the next 2 years to implement and validate all services of YodiFEMP according to the market needs and based on a thoroughly analyzed development plan.
Determination of legal activities: The legal activities around YodiFEMP include strict compliance with GDPR, FM quality management standards such as ISO41001 and industry standards SLAs for SaaS services. In addition, Yodiwo is protecting the core modules of YodiFEMP with a granted patent for its IoT technology and two more draft applications.
The results of the feasibility study will be used for:
a. the proposal for EIC Accelerator (SME Instrument ph2)
b. generic fundraising activities of Yodiwo
c. ratifying YodiFEMP roadmap which will be communicated with Yodiwo's partners and customers
d. the implementation of the sales and marketing plan of YodiFEMP
Determination of market size: Yodiwo targets the FM subset market known as ‘Integrated Workspace Management Systems (IWMS) driven by AI and IoT which is estimated to be worth €5.3bn by 2026, representing a CAGR of 14,2%, aiming at a market share of 4% by 2026 with 70% of it coming from EU and 30% from USA and APAC.
Competition analysis: The analysis of 54 competitive products revealed that YodiFEMP is the only context-aware IWMS in the market that uses AI agents to harmonically manage energy, equipment maintenance and wellbeing with the highest RoI for both the FM operators and the business owners
Compliance with market needs: A strong interest from FM Service providers and building owners for IWMS systems driven by AI and IoT was confirmed by the survey Yodiwo conducted with 20 companies. 15 of them provided a detailed list of services that they would like to be handled with AI by an IWMS. The outcome of the survey along with the competition analysis was used to define the Minimum Viable Product (MVP) and the roadmap.
Definition of go-to-market strategy: Yodiwo secured Letters of Intent from 10 customers who are interested in using YodiFEMP for managing at least one of their buildings. In addition, based on agreements that have been signed with global companies with strong presence in FM, Yodiwo has developed a sound go-to-market strategy.
Refinement of the business model: A B2B model based on SaaS that guarantees scalability has been developed. The target group is primarily FM service providers where each one of them will use YodiFEMP to provide services to at least 30 buildings in 5-year time, generating an annual revenue for Yodiwo of €6,400 per building in average
Development of scale-up strategy: A partner network creation plan that engages business and academic organizations from the value chain of FM has been developed for global penetration. Parallel activities in sales, marketing and business development have been specified which will contribute to fast network expansion and awareness creation
Technical feasibility s: Yodiwo’s engineering team consists of 19 highly skilled scientists with experience in IoT and AI/ML technologies. The team will be doubled within the next 2 years to implement and validate all services of YodiFEMP according to the market needs and based on a thoroughly analyzed development plan.
Determination of legal activities: The legal activities around YodiFEMP include strict compliance with GDPR, FM quality management standards such as ISO41001 and industry standards SLAs for SaaS services. In addition, Yodiwo is protecting the core modules of YodiFEMP with a granted patent for its IoT technology and two more draft applications.
The results of the feasibility study will be used for:
a. the proposal for EIC Accelerator (SME Instrument ph2)
b. generic fundraising activities of Yodiwo
c. ratifying YodiFEMP roadmap which will be communicated with Yodiwo's partners and customers
d. the implementation of the sales and marketing plan of YodiFEMP
To better understand state-of-the-art, we analysed 54 globally-deployed IWMS solutions. For any solution to overcome the FM challenges we have identified during the feasibility study, we considered it must have all of the following functionalities:
1] use AI/ML to monitor and predictively manage the behaviour of all integrated services at the same time.
2] offer flexible interfaces to connect with widest possible range of IoT devices.
3] offer custom data visualization and report templates.
Our analysis revealed that:
a. 40 companies out of 54 Integrate multiple FM services. Only YodiFEMP processes data from all integrated services using AI agents.
b. 16 companies out of the above 40 connect to any device. Only YodiFEMP has an IoT gateway bringing intelligence at the edge, supporting future interoperability with new devices.
c. Only 5 companies out of the previous 16 offer custom data visualization, subject to specific custom rules. Only YodiFEMP offers custom audit reporting complying with quality management processes like ISO50001 for Energy Management and ISO41001 for Facility Management.
We the submission of the feasibility study report, we have achieved all the goals of the proposal and we have concluded that YodiFEMP will contribute to buildings' sustainability, CO2 emission reduction and improvement of the working environment in commercial and industrial buildings, affecting at least 65% of EU population.
1] use AI/ML to monitor and predictively manage the behaviour of all integrated services at the same time.
2] offer flexible interfaces to connect with widest possible range of IoT devices.
3] offer custom data visualization and report templates.
Our analysis revealed that:
a. 40 companies out of 54 Integrate multiple FM services. Only YodiFEMP processes data from all integrated services using AI agents.
b. 16 companies out of the above 40 connect to any device. Only YodiFEMP has an IoT gateway bringing intelligence at the edge, supporting future interoperability with new devices.
c. Only 5 companies out of the previous 16 offer custom data visualization, subject to specific custom rules. Only YodiFEMP offers custom audit reporting complying with quality management processes like ISO50001 for Energy Management and ISO41001 for Facility Management.
We the submission of the feasibility study report, we have achieved all the goals of the proposal and we have concluded that YodiFEMP will contribute to buildings' sustainability, CO2 emission reduction and improvement of the working environment in commercial and industrial buildings, affecting at least 65% of EU population.