Periodic Reporting for period 1 - Insight (IMPROVING THE MANAGEMENT OF ENGINEERING AND CONSTRUCTION PROJECTS THROUGH REALTIME MONITORING AND ANALYSIS OF CLOUD-BASED PROJECT DATA)
Reporting period: 2020-01-01 to 2020-06-30
This study considered the technical, market and financial feasibility of a disruptive AI-based technology to automatically detect and map dependencies in major engineering projects thereby reducing delays, cost overruns and risks saving €Bns annually. These three areas were concomitantly addressed through a programme of meetings and workshops with potential customers, investors and advisors/experts; combined with ongoing reviews of the market, competitors and IP.
The findings positively reinforce the unique selling point(s) and disruptive capability of KADlytics’ underlying technology as well as the global scalability of our product. While the core principles of KADlytics technology and offering remain largely unchanged, the feasibility study has been instrumental in refining and focusing our value proposition and commercial strategy based on a robust and evidenced product-market fit. Of particular note is that our value proposition has evolved to focus on right first-time decision making rather than a more general statement of provision of insights; and our strategy for commercial exploitation combines the complementary routes of an Enterprise SaaS solution for OEMs/Primes in the engineering and infrastructure sectors and Value Add Partnerships with established solution vendors and engineering/management consultancies. The latter enables the potential of our proprietary technology and market creation opportunities to be more fully explored in engineering and related fields than would be possible by us alone. In addition to these two refinements, the feasibility study has helped to identify a wider portfolio of protectable IP and led to the formalisation of our IP strategy. Lastly, the study revealed a fundamental requirement of our customers. This requirement concerns the creation of a complete dependency lifecycle management solution (DLM) that leverages existing PDM/PLM systems.
In accord with establishing the need a suitable and market-tested revenue model has been devised. The findings of the feasibility study have resulted in a set of 19 actionable insights that have been incorporated into our business planning and product development roadmap, and KADlytics is well positioned to develop DeMon - our DLM SaaS enterprise solution; create and implement a robust Minimum Viable Product; and to introduce DeMon into the EU and global markets. To support this KADlytics is in the process of securing pre-seed funding and applying for SME Instrument Phase II. II.