Periodic Reporting for period 1 - FIT (Augmented Reality Assisted Farmer's Intelligence Toolkit)
Berichtszeitraum: 2019-01-01 bis 2019-06-30
By the year 2050, the global population is set to touch 9.6 billion; one major challenge the world is going to face is feeding it’s population. Add to it the many challenges that plague the farming industry such as the change in climatic conditions, extreme weather conditions and impact on the environment, which have to be overcome in order to meet the demand for more food.
Farmers deal on a daily basics with huge amounts of data which they have to interpret and act in accordance.
The Nexlys Lda’s Augmented Reality Assisted Farmer's Intelligence Toolkit(FIT) is a system designed to support the farmers in their daily operations.
FIT aims to take the interaction between the farmers, their plantation fields and the deployed technological resources to a new level. It will deliver intelligence data via an Augmented Reality(AR) display and will allow farmers to interact with operational assets.
FIT will provide better, more streamlined crop management; maximize existing investments; reduce operation and management costs; reduce losses; improve profitability and working conditions.
FIT’s target customers are all farmers and farmer’s organizations..
The objectives of this feasibility assessment are to define market niches, consumer needs, evaluate relevant legislation and ethical aspects, identify and solve market barriers, determine the FIT’s technical feasibility, as well the economic and social impact of it’s commercialization.
Farmers deal on a daily basics with huge amounts of data which they have to interpret and act in accordance.
The Nexlys Lda’s Augmented Reality Assisted Farmer's Intelligence Toolkit(FIT) is a system designed to support the farmers in their daily operations.
FIT aims to take the interaction between the farmers, their plantation fields and the deployed technological resources to a new level. It will deliver intelligence data via an Augmented Reality(AR) display and will allow farmers to interact with operational assets.
FIT will provide better, more streamlined crop management; maximize existing investments; reduce operation and management costs; reduce losses; improve profitability and working conditions.
FIT’s target customers are all farmers and farmer’s organizations..
The objectives of this feasibility assessment are to define market niches, consumer needs, evaluate relevant legislation and ethical aspects, identify and solve market barriers, determine the FIT’s technical feasibility, as well the economic and social impact of it’s commercialization.
This feasibility study allowed Nexlys to gather relevant knowledge about the FIT’s market and to establish a roadmap of the future steps to take towards the FIT’s commercialization.
During the course of the feasibility study the following tasks were performed:
- Commercial Market analysis
- Risk Assessment and Management Analysis
- Technical feasibility Analysis
- Commercial and Economical Feasibility Analysis
- Legal and IPR Assessment and Management Analysis
- Business Plan Development
This feasibility study allowed Nexlys to have a better assessment of the potential synergies between Nexlys and external partners, which are key for a successful product launch and commercialization phase.
Based on the findings of the Feasibility Study, our company has decided to continue with the project.
The general objectives, concept, approach and impact haven’t suffered relevant changes.
It was confirmed the FIT’s high commercial potential.
During the course of the feasibility study the following tasks were performed:
- Commercial Market analysis
- Risk Assessment and Management Analysis
- Technical feasibility Analysis
- Commercial and Economical Feasibility Analysis
- Legal and IPR Assessment and Management Analysis
- Business Plan Development
This feasibility study allowed Nexlys to have a better assessment of the potential synergies between Nexlys and external partners, which are key for a successful product launch and commercialization phase.
Based on the findings of the Feasibility Study, our company has decided to continue with the project.
The general objectives, concept, approach and impact haven’t suffered relevant changes.
It was confirmed the FIT’s high commercial potential.
Within 6 years, the FIT’s commercialization will create a return on investment of 324%, grow the company sustainability and create the conditions to hire 60+ staff.
Most importantly it will contribute as an answer to the European Union(EU)’s sustainable development Goal 2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture.
While empowering a sustainable agriculture, the FIT’s exploitation is aligned with the EU societal-challenges by means of supplying a technological tool which potentiates a better usage of existing resources, the production of more food and the reduction of waste. It's also aligned with the Goal 2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture, of the European Union(EU)’s sustainable development goals(SDGs) namely while potentiating higher, sustainable and resilient productivity and improved access to resources and knowledge via the introduction of new technological developments(target 2.4 and 2.A); it’s also aligned with Goal 8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all namely while empowering the achievement of “higher levels of economic productivity through diversification, technological upgrading and innovation”(target 8.1).
Most importantly it will contribute as an answer to the European Union(EU)’s sustainable development Goal 2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture.
While empowering a sustainable agriculture, the FIT’s exploitation is aligned with the EU societal-challenges by means of supplying a technological tool which potentiates a better usage of existing resources, the production of more food and the reduction of waste. It's also aligned with the Goal 2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture, of the European Union(EU)’s sustainable development goals(SDGs) namely while potentiating higher, sustainable and resilient productivity and improved access to resources and knowledge via the introduction of new technological developments(target 2.4 and 2.A); it’s also aligned with Goal 8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all namely while empowering the achievement of “higher levels of economic productivity through diversification, technological upgrading and innovation”(target 8.1).