Periodic Reporting for period 1 - Ghost Boat (A new way to own, drive and maintain a boat)
Reporting period: 2017-05-01 to 2017-08-31
G-Boats™ makes leisure boating for the new generations easier to practice and affordable. Moreover, our unique product requires little maintenance, has excellent maneuverability and control, is safer in waters and is environmetally friendly and very quiet.
To the society our innovation changes the boating experience breaking the cost barrier through new ownership models and onboard technologies, while endorsing heritage as a core value.
The objective of this project was to evaluate the feasibility of our business. Our findings show that G-Boats™ is feasible, possible, viable, profitable and sustainable. Our overall objective is to get the prototype to a commercial product and sell it in an international market.
We have assessed the costs of design of G-Boats™ from prototype to commercial product. We have tested and verified technical features and found the optimal design for the final product.
We have evaluated organisational gaps and determined ways how to fill these gaps in the most viable way, either by recruiting or by making strategic partners/alliances.
Task 2 - In-depth Market Assessment and Commercial Feasibility
We conducted a thorough market analysis in order to determine the need for further cost optimisation. We assessed target markets and customer behavior.
We have investigated the market risks in depth and established corresponding mitigation strategies. We have assessed the current IPR status, “freedom to operate analysis” and identified knowledge protection strategies.
We evaluated our business model and pricing strategy against competition.
Task 3 – Financial Feasibility
We have evaluated and determined the costs and returns of the investment. Following the investment requirements study, we have assessed the financial risks and established mitigation strategies for financing.
We have created a 5 year cashflow forecast based on market studies and growth predictions.
Task 4 – Partners Search
We have identified external strategic alliances needed to commercialise G-Boats™ in the target markets.
Task 5 – Risk Assessment
We investigated the technical risks and business risks in depth and established corresponding mitigation strategies.
Task.6 – Work Plan
We have created a 2-year implementation work plan to get the prototype into a market-ready product.
Task 7 – Elaborated Business Plan
All findings of Tasks 1 - 6 were used to create a Business Plan. This document is a living document and will be updated
This project confirmed the feasibility and viability of this product to our business. We will continue pursuing this business opportunity by raising more funds to minimise financial risk and grow faster.
Impact on society:
High economic impact
Safer and exciting boating experience for users with modest boating experience
Completely carefree boating with no yearly hauls and servicing
Access Economy based models