Technical Feasibility
During these nine months, not only we have done our research on what should be our next steps, we also have developed and implemented some of the features and improvements that are part of this technical report.
The best way for us to validate our next steps in product development and UX/UI interface and asses the necessary resources to create a mature product is to build some of the features and watch them perform in real life conditions, with paying customers.
During this period, our focus was on research, on the areas presented below:
• Hosting optimisation
• 3D File management issues will be resolved if we implement
• Platform stabilisation
• Mobile application – improving the UX/UI design
• Implementation of new technologies
• Implementing new hardware devices and technologies (HoloLens 2 and LiDAR).
• Assessment of expertise needed
Commercial Feasibility
We have reviewed 36 companies that we considered competitors to a certain degree. Some of them have developed solutions that are very similar to ours some of them not so much. But all of these companies address the same market we are.
In reviewing them we had the following criteria: B2B vs. B2C solution, white label vs. SaaS, portfolio, sale strategy, addressed industries, product, technologies, features, similarities and differentiators.
We have also refined our business development strategy and our sales policy based on the sales channels we are currently developing.
Regarding the Microsoft IP Co-Sell Ready channel we started working with a success manager based in UK, that helps us with the introductions to companies from Real Estate, Industry, Automotive and Healthcare from Germany, France and UK.
The coaching sessions provided to us through this H2020 grant, was also very valuable.
During those sessions we’ve worked on understanding how our offer is perceived by the market and how we should position ourselves.
Market strategy
Our Go-To Market strategy relies on direct sales and resellers (Advertising Agencies, Microsoft IP Co-Sell Ready, Microsoft Sales Team).
Regarding direct sales, as we have mentioned in our “Mitigating action plan” we are going to open offices in some of the EU western countries. Most likely in the Netherlands, Germany, France and maybe UK.
Financial Feasibility
Our projections cover a time span of 5 years and they reflect our business development strategy and technical development strategy, that are part of the business plan.
Due to the fact that in the first two years the amount of capital needed to cover the costs of development vs. the revenue we are able to generate we will have to secure additional funding.
One of our primary sources of funding that we are considering is Horizon 2020 Phase 2. However, we consider that we need to prove that we are able to make good use of the results of this Feasibility Study, take action upon the technical development issues and business development steps that we have drafted. This is why before applying for the Horizon 2020 Phase 2 grant we are looking to raise a round of investment from Business Angels Europe.
