Periodic Reporting for period 1 - BAG-FS (Biopolus Aero Green - Feasibility Study)
Reporting period: 2014-09-01 to 2014-11-30
The objective of the work was the preparation of a business model for an agriculture innovation that will bring to market a high-yield, highly automated aeroponic plant cultivation system suitable for resource efficient, high quality vegetable and fruit production in a limited physical footprint designed for urban food production.
Initial market analysis has been carried out in five countries: Germany, Denmark, USA, Russia, China. The results show opportunities in every country but some are stronger like Germany and USA.
In-depth market analysis has been carried out in Hungary containing online data research, in depth-interview and an online survey. The results gave us a picture about the size of the possible market, customer needs and some of the interviews brought us some possible strategic partners.
Benchmarking included competitor research and analysis both investigating their technologies and business models.
The business plan has been updated considering the results of the market analysis and the benchmarking process. A draft road map has been made for the next five years along with a detailed financial plan based on the results from previous prototype experiments, equipment costing, industry benchmarks and the business plan.
The conclusion of the action is that the Aero.Green project is feasible but some changes had to be made to the concept. The project needs further financial and expertise support, therefore Biopolus will submit a proposal for the II. phase of the SME Instrument.