Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - SafeWaterpark (Ensuring the safest conditions in waterparks, public pools and hotel pools and facilitating crowd-based prevention across the world)

Teaser

Drowning causes the loss of 37,000 lives every year in Europe alone. It is the second leading cause of death in children aged 5–14 years. At a global level, there are an estimated 360,000 annual drowning deaths. Additionally, every year, there are 236,000 non-fatal injuries...

Summary

Drowning causes the loss of 37,000 lives every year in Europe alone. It is the second leading cause of death in children aged 5–14 years. At a global level, there are an estimated 360,000 annual drowning deaths. Additionally, every year, there are 236,000 non-fatal injuries in swimming pools within the EU, most of them concerning children and teenagers. Safety conditions at commercial swimming pools are thus still generally poor, while official safety guidelines are often heterogeneous and inconsistent.

To improve safety standards around commercial pool infrastructure, we are developing an ambitious package of measures, combining digital and highly automated pool inspections with a next-generation real-time monitoring and predictive maintenance tool based on complex data collection system.

This package will be able to provide valuable safety and maintenance feedback to pool owners, trigger necessary inspections when incidents are detected and overall greatly improve the safety standards of public pools. Based on our current data, we estimate that this could potentially lead to a reduction of 90% of the number of accidents.

Work performed

Over the course of the Phase 1 project, we performed a complete technical and commercial feasibility validation of SafeWaterpark, and developed a detailed business plan for its commercialisation.

The technical feasibility study featured an extensive analysis of the different specifications of the required software and hardware. The data processing structure and methodology of the safety monitoring platform was also examined in detail, allowing us to define the best suited data processing algorithms.

The commercial feasibility study featured an extensive analysis of the current demand for SafeWaterpark among the different levels of the supply chain. We confirmed this analysis with direct interviews with interested parties and developed a partnership expansion plan to take full advantage of this demand. We then determined the optimal sales and dissemination strategy, evaluating realistic subscription prices for each module of the SafeWaterpark package. To fully validate the commercial viability, we also performed a complete Freedom-to-Operate analysis and defined the best-suited IP strategy.

For our business plan, we analysed a wide range of scenarios, evaluating multiple growth hypotheses and assumptions. We then performed the realistic forecasts for profit and loss, balance sheets and cash flows, leading to a complex analysis of the current and future valuation of the company. We then determined the investment needs and calculated the corresponding return on investment up to 2025. Finally, we listed all potential risks and threats and determined the best mitigation strategies.

Final results

SafeWaterpark will provide uniquely advanced tools both for pool inspection and monitoring:

All our knowledge and expertise about regulations and industrial standards will be condensed in a smart application that will be made available to our pool inspectors, as well as to partner entities. We have also designed and tested advanced autonomous devices that will greatly facilitate and reduce the costs of inspections.

On the monitoring innovation, we have developed multiple data collection channels involving crowd-based feedback and unique IoT sensors that will allow us to immediately react to imminent safety incidents and alert the corresponding pool owners. This could potentially lead to the reduction of up to 90% of all serious accidents.

But SafeWaterpark will be even greater than the sum of its parts. By providing a complete package including all these different and complementary data sources, the SafeWaterpark will gain a unique knowledge of the pool infrastructure cycle and allow us not only to detect incidents, but also to proactively prevent them through predictive maintenance. This will allow our customers to generate savings of up to 40% in maintenance costs and further incentivize them to subscribe to our unique package.

Website & more info

More info: https://www.safewaterpark.com/en/.