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H2020

FlyNano Report Summary

Project ID: 808192

Periodic Reporting for period 1 - FlyNano (FLYNANO - ELECTRIC AIRCRAFT FEASIBILITY VERIFICATION)

Reporting period: 2018-02-01 to 2018-04-30

Summary of the context and overall objectives of the project

Fly Nano Ltd is a forerunner of the development towards ecological options for the aviation. FlyNano is an electric seaplane and a new fast-growing adventure sport mixing aviation and water sports. It will bring the thrill and experience of flying for a large number of people. The innovative product is a masterpiece combining the expertise of the main designer Aki Suokas from aeroplanes, boats and mass producible cars. A unique lightweight electrical powertrain has the world's best power to weight ratio. Fly Nano Ltd provides products and services for the whole FlyNano concept. The activities and services are designed to form a consistent and high-quality consumer experience. Fly Nano Ltd is not only selling aircraft but the unique experience. The concept supports customers to get everything out of the experience: planes and supporting products, flying in multiple destinations around the world, training their skills, sharing their flights with others, having contacts with other fans, taking part competitions.
For the society, the concept provides EU-wide and global benefits in the forms of creating new service business and workplaces.
Fly Nano Ltd creates new market opportunities in a totally new form of aviation. FlyNano is the first environmentally friendly mass-producible seaplane.
The objectives of this project were to verify technical feasibility, commercial and financial feasibility and to develop a full business plan.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

The Feasibility Study covering technical, commercial and financial feasibility of FlyNano aircraft and FlyNano concept was conducted during the first quarter of 2018. The Phase 1 Feasibility project was highly valuable for the company in the way to assess the full commercialisation of FlyNano. The study included deeper customer analysis, important stakeholder engagements, financial estimations, risks analysis and comprehensive business planning. The research generated information on the technical, commercial and economic basis of the business. The service business model was detailed around the main product. The network of service providers will be created. There will be a wide range of activities and a whole culture for pilots and fans. The model will enable wider customer range to reach the product. The service model will generate constant revenue for Fly Nano Ltd, and create business and workplaces around the world.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

The steps to market are now clear and substantial investments are needed for development activities to reach the target. Because of this, Fly Nano Ltd moves forward with the Horizon 2020 SME instrument Phase to support the commercialisation. The Phase 2 grant scheme should be able to bring the ideal amount of funding to the project, to allow it to reach the market.

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