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Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - PROXITRAK (PROXITRAK â€“ next generation IoT tracking solution for a connected logistics â€“ collect, analyse and visualise big data in a true real time)

Teaser

The main objective of the actions has been succesfully executed. We have generated all necessary data and allocated resources to take the next strategic decision in order to prepare for introduction of our next generation IOT platform that utilises UHF RFID technology for true...

Summary

Work performed

Our detailed feasibility study covered a number of task.

Bellow we present the overview of the work and the results performed:
Task 1.1 Elaborate market feasibility. We have undertaken actions in the following areas:
(1) Market study including definition of target markets:
(2) Entry barriers, main competitors;
(3) Revenues and cost projections;
(4) Commercialisation strategy;
(5) Business risk assessment.
Task 1.2 Evaluate technical feasibility. We have undertaken action in the following areas:
(1) Specification of the final version of PROXITRAK;
(2) Software/licenses required to develop new PROXITRAK modules;
(3) IT infrastructure required â€“ small pilots with potenial customers;
(4) Technical risk assessment.
Task 1.3 Evaluate operational capability. We have undertaken actions in the following areas:
(1) Additional staff needed;
(2) Additional office space needed;
(3) Required extension of IT infrastructure;
(4) New distribution channels.
Task 1.4 Define IPR strategy. We have undertaken actions in the following areas:
(1) Possible patent extensions;
(2) Industrial pattern of interface design;
(3) License and copyright for software -Objects of copyrights. Software protection;
(4) Trademarks for PROXIGROUP/PROXITRAK name and logotype.
Task 1.5 Define project schedule. We have undertaken actions in the following areas:
(1) Detailed work plan for Phase 2 project;
(2) Timing of the dissemination activities in Phase 3;
(3) Long term product development roadmap.

Based on the results and information gathered we have updated our initial business including detailed marketing/dissemination and commercialization plan, a market research, financial plan. Togetheer with a number of our stakeholders we are ready to bring the product into the market considering all costs involved in the project and the project profitability.

Final results

Phase 1 execution proved that our innovative project is feasible and has a great commercial value. We have determined the commercial and technologicall feasibility and reached all the objectives defined in phase 1, as well as prapared objectives for phase 2 to mature our solution to TRL9 route to market.
Our objective is to offer next generation IoT tracking solution for a connected logistics to collect, analyse and visualise big data in a true real time, to provide an accurate and efficient analysis of large amounts of data from physical objects.
Our target group are mainly large/medium companies including:
(1) Manufacturers and production lines, Warehousing and logistics;
(2) Airports and airlines;
(3) Retail chains network;
(4) Health care sector;
(5) Utilities.
Our solution main benefits are:
(1) End-to-End assets Visibility;
(2) Serving global multiple locations,
(3) Reducing costs;
(4) Managing warehouse and supply chain efficiently;
(5) Identifying bottlenecks in the supply chain.
There is a big market and need for real-time IoT systmes. The connected logistics market size is expected to grow from USD 10.04 Billion in 2016 to USD 41.30 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 32.7%. RFID technology has gathered new momentum because of Industry 4.0.