Amidst the uncertainty, proposed by the unexpected pandemic situation, our team conducted this feasibility study with the utmost respect to the circumstances and attention to the variables we were able to indicate. One of the unexpected positive outcomes of the situation was a surge in the demand for remote monitoring of beehives. We believe that the research yielded incredible results which helped us verify our value proposition with real potential customers in target markets we can easily get access to following our updated “go to market” strategy.
We deemed the business idea feasible and even though it was challenging to conduct market analysis during a global pandemic, we believe that the solutions we offer will bring sustainability into a market niche where it is much needed. This is why our company could thrive in such challenging times - we offer a service that is not only nice to have, but could remarkably boost the efficiency of the operations of mid and large scale beekeepers.
The COVID-19 crisis has a detrimental effect to the global economy, affecting all elements of the value chains of almost all businesses, including agriculture. Starting out our feasibility study, we believed that we can build on top of existing solutions and create impact by further enabling beekeepers and their partners with access to unprecedented data, but the “black swan” event which was the global pandemic proved that digitalization may, in fact, become the reality for a vast number of different industries.
Utilizing the support by our coach assigned through the H2020 Phase 1 program, we were able to position ourselves better in the whole value chain of the beekeeping industry and reaffirm our value proposition within one of the most prominent markets for our technology – Ireland. Our team’s motivation grew even further when we realized that our promise of a technological remote beekeeping assistant may change the way global agriculture interfaces with one of its most important yet underappreciated subsectors – beekeeping.
We are going to focus on the European market for the next two years and the biggest discovery we made was that we have an even better chance of success here due to the segmentation of the market and the individual approach to beekeepers that we decided to adopt. Our team conducted interviews and designed experiments to validate the most critical hypothesis that our business model created. After this feasibility study, we march on motivated and excited about bringing a much-needed change in an industry that is critical to the food security of the future generations.
